FPA vs. IYZ
FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, FPA returned 11.77%/yr vs 5.71%/yr for IYZ. At a 0.42 correlation, their price movements are largely independent. FPA charges 0.80%/yr vs 0.42%/yr for IYZ.
Performance
FPA vs. IYZ - Performance Comparison
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Returns By Period
In the year-to-date period, FPA achieves a 56.23% return, which is significantly higher than IYZ's 28.55% return. Over the past 10 years, FPA has outperformed IYZ with an annualized return of 11.77%, while IYZ has yielded a comparatively lower 5.71% annualized return.
FPA
- 1D
- 6.26%
- 1M
- 10.19%
- YTD
- 56.23%
- 6M
- 56.82%
- 1Y
- 75.71%
- 3Y*
- 31.91%
- 5Y*
- 14.02%
- 10Y*
- 11.77%
IYZ
- 1D
- -0.79%
- 1M
- 1.50%
- YTD
- 28.55%
- 6M
- 31.94%
- 1Y
- 57.01%
- 3Y*
- 27.64%
- 5Y*
- 7.66%
- 10Y*
- 5.71%
FPA vs. IYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund | 56.23% | 43.16% | 3.95% | 9.97% | -14.55% | 2.98% | 13.43% | 8.91% | -21.91% | 35.81% |
IYZ iShares U.S. Telecommunications ETF | 28.55% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
Correlation
The correlation between FPA and IYZ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011 | 0.42 |
The correlation between FPA and IYZ shifts across timeframes, from 0.30 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FPA vs. IYZ — Risk / Return Rank
FPA
IYZ
FPA vs. IYZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) and iShares U.S. Telecommunications ETF (IYZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FPA | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.53 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | 6.65 | -1.70 |
| Martin ratioReturn relative to average drawdown | 17.04 | 26.10 | -9.06 |
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Drawdowns
FPA vs. IYZ - Drawdown Comparison
The maximum FPA drawdown since its inception was -52.91%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for FPA and IYZ.
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Drawdown Indicators
| FPA | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.91% | -77.11% | +24.20% |
Max Drawdown (1Y)Largest decline over 1 year | -15.37% | -8.62% | -6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -20.66% | -13.85% | -6.81% |
Max Drawdown (5Y)Largest decline over 5 years | -34.54% | -39.74% | +5.20% |
Max Drawdown (10Y)Largest decline over 10 years | -52.91% | -39.74% | -13.17% |
Current DrawdownCurrent decline from peak | -1.11% | -5.52% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -40.09% | +26.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 2.19% | +2.27% |
Volatility
FPA vs. IYZ - Volatility Comparison
First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a higher volatility of 15.75% compared to iShares U.S. Telecommunications ETF (IYZ) at 8.04%. This indicates that FPA's price experiences larger fluctuations and is considered to be riskier than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPA | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.75% | 8.04% | +7.71% |
Volatility (6M)Calculated over the trailing 6-month period | 25.06% | 15.62% | +9.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.31% | 18.64% | +9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.59% | 18.89% | +5.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.72% | 19.31% | +3.41% |
FPA vs. IYZ - Expense Ratio Comparison
FPA has a 0.80% expense ratio, which is higher than IYZ's 0.42% expense ratio.
Dividends
FPA vs. IYZ - Dividend Comparison
FPA's dividend yield for the trailing twelve months is around 3.42%, more than IYZ's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund | 3.42% | 4.71% | 3.40% | 3.02% | 4.22% | 5.12% | 1.59% | 3.90% | 2.81% | 3.15% | 2.42% | 1.74% |
IYZ iShares U.S. Telecommunications ETF | 1.91% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
FPA and IYZ have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPA has higher volatility (15.75%) compared to IYZ (8.04%). In terms of maximum drawdown, FPA dropped -52.91% vs IYZ's -77.11%.
On 10-year performance, FPA leads with 11.77% vs 5.71% for IYZ. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYZ has been the lower-risk option at 8.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FPA has performed better with a 11.77% return vs 5.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYZ is cheaper with a 0.42% expense ratio, compared with 0.80% for FPA.
FPA has the higher dividend yield at 3.42%, compared with 1.91% for IYZ.
FPA is categorized as Asia Pacific Equities, while IYZ is Communications Equities. FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.80% for FPA and 0.42% for IYZ.
IYZ currently has the higher Sharpe Ratio (3.08 vs 2.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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