FSZ vs. BBEU

Last updated Jun 4, 2026

FSZ (First Trust Switzerland AlphaDEX Fund) and BBEU (JPMorgan BetaBuilders Europe ETF) are both Europe Equities funds - FSZ tracks the NASDAQ AlphaDEX Switzerland Index while BBEU tracks the Morningstar Developed Europe Target Market Exposure Index. Both are passively managed. Over the past 5 years, FSZ returned 5.94%/yr vs 8.77%/yr for BBEU. A 0.79 correlation means they provide meaningful diversification when combined. FSZ charges 0.80%/yr vs 0.09%/yr for BBEU.

Performance

FSZ vs. BBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Switzerland AlphaDEX Fund (FSZ) and JPMorgan BetaBuilders Europe ETF (BBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSZ achieves a 2.04% return, which is significantly lower than BBEU's 5.53% return.

FSZ

• 1D: -0.66%
• 1M: 1.60%
• YTD: 2.04%
• 6M: 6.03%
• 1Y: 9.94%
• 3Y*: 12.14%
• 5Y*: 5.94%
• 10Y*: 9.42%

BBEU

• 1D: -1.22%
• 1M: 2.67%
• YTD: 5.53%
• 6M: 8.51%
• 1Y: 18.25%
• 3Y*: 16.49%
• 5Y*: 8.77%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSZ vs. BBEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSZ First Trust Switzerland AlphaDEX Fund	2.04%	30.10%	-1.85%	21.30%	-20.12%	20.18%	13.83%	25.88%	-14.45%
BBEU JPMorgan BetaBuilders Europe ETF	5.53%	36.37%	1.85%	20.31%	-14.72%	17.50%	5.00%	23.96%	-13.25%

Correlation

The correlation between FSZ and BBEU is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.79

The correlation between FSZ and BBEU has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

FSZ vs. BBEU - Sectors Allocation Comparison

Sectors	FSZ	BBEU
Industrials	22.0%	14.8%
Healthcare	22.0%	10.7%
Financial Services	18.9%	21.8%
Consumer Cyclical	10.0%	4.7%
Basic Materials	8.2%	4.5%
Consumer Defensive	6.6%	8.4%
Communication Services	3.9%	2.8%
Real Estate	3.7%	0.3%
Utilities	3.1%	3.0%
Technology	1.6%	7.7%
Energy	-	3.4%

Return for Risk

FSZ vs. BBEU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSZ

FSZ Risk / Return Rank: 20
FSZ Sharpe Ratio Rank: 21
FSZ Sortino Ratio Rank: 20
FSZ Omega Ratio Rank: 19
FSZ Calmar Ratio Rank: 21
FSZ Martin Ratio Rank: 20

BBEU

BBEU Risk / Return Rank: 32
BBEU Sharpe Ratio Rank: 32
BBEU Sortino Ratio Rank: 32
BBEU Omega Ratio Rank: 31
BBEU Calmar Ratio Rank: 31
BBEU Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSZ vs. BBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Switzerland AlphaDEX Fund (FSZ) and JPMorgan BetaBuilders Europe ETF (BBEU). 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.

	FSZ	BBEU	Difference
Sharpe ratio: Return per unit of total volatility	0.70	1.19	-0.48
Sortino ratio: Return per unit of downside risk	1.10	1.73	-0.64
Omega ratio: Gain probability vs. loss probability	1.13	1.21	-0.08
Calmar ratio: Return relative to maximum drawdown	0.96	1.50	-0.54
Martin ratio: Return relative to average drawdown	2.41	5.57	-3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSZ vs. BBEU - Sharpe Ratio Comparison

The current FSZ Sharpe Ratio is 0.70, which is lower than the BBEU Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of FSZ and BBEU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSZ	BBEU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	1.19	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.50	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.47	+0.04

Drawdowns

FSZ vs. BBEU - Drawdown Comparison

The maximum FSZ drawdown since its inception was -33.97%, smaller than the maximum BBEU drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for FSZ and BBEU.

Drawdown Indicators

	FSZ	BBEU	Difference
Max Drawdown Largest peak-to-trough decline	-33.97%	-36.27%	+2.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-12.23%	+1.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.93%	-14.23%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-33.96%	-31.08%	-2.88%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	—	—
Current Drawdown Current decline from peak	-5.11%	-2.65%	-2.46%
Average Drawdown Average peak-to-trough decline	-7.00%	-6.14%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	3.28%	+0.86%

Volatility

FSZ vs. BBEU - Volatility Comparison

The current volatility for First Trust Switzerland AlphaDEX Fund (FSZ) is 4.72%, while JPMorgan BetaBuilders Europe ETF (BBEU) has a volatility of 5.62%. This indicates that FSZ experiences smaller price fluctuations and is considered to be less risky than BBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSZ	BBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	5.62%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	10.70%	12.98%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	15.49%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.34%	17.49%	+1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	19.32%	-0.37%

FSZ vs. BBEU - Expense Ratio Comparison

FSZ has a 0.80% expense ratio, which is higher than BBEU's 0.09% expense ratio.

Dividends

FSZ vs. BBEU - Dividend Comparison

FSZ's dividend yield for the trailing twelve months is around 2.39%, less than BBEU's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBEU JPMorgan BetaBuilders Europe ETF	2.82%	2.83%	4.16%	2.94%	4.72%	2.63%	2.29%	3.24%	0.49%	0.00%	0.00%	0.00%
FSZ First Trust Switzerland AlphaDEX Fund	2.39%	1.80%	1.80%	2.11%	3.50%	1.62%	1.53%	2.01%	2.29%	1.49%	1.93%	1.08%

Frequently Asked Questions

Can I hold both FSZ and BBEU in my portfolio?

FSZ and BBEU have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSZ or BBEU?

BBEU has higher volatility (5.62%) compared to FSZ (4.72%). In terms of maximum drawdown, FSZ dropped -33.97% vs BBEU's -36.27%.

Which ETF is better, FSZ or BBEU?

On 5-year performance, BBEU leads with 8.77% vs 5.94% for FSZ. On fees, BBEU is cheaper at 0.09% per year. On volatility, FSZ has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FSZ or BBEU?

Over the 5-year period, BBEU has performed better with a 8.77% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FSZ or BBEU?

BBEU is cheaper with a 0.09% expense ratio, compared with 0.80% for FSZ.

Which ETF pays a higher dividend yield, FSZ or BBEU?

BBEU has the higher dividend yield at 2.82%, compared with 2.39% for FSZ.

What is the main difference between FSZ and BBEU?

FSZ tracks NASDAQ AlphaDEX Switzerland Index, while BBEU tracks Morningstar Developed Europe Target Market Exposure Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.80% for FSZ and 0.09% for BBEU.

Which has better risk-adjusted returns?

BBEU currently has the higher Sharpe Ratio (1.19 vs 0.70), 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.