FSZ vs. FFRHX
FSZ (First Trust Switzerland AlphaDEX Fund) and FFRHX (Fidelity Floating Rate High Income Fund) are both funds - FSZ is a Europe Equities fund tracking the NASDAQ AlphaDEX Switzerland Index, while FFRHX is a Bank Loan fund actively managed by Fidelity. FSZ is passively managed, while FFRHX is actively managed. Over the past 10 years, FSZ returned 10.12%/yr vs 4.90%/yr for FFRHX. At a 0.26 correlation, their price movements are largely independent. FSZ charges 0.80%/yr vs 0.67%/yr for FFRHX.
Performance
FSZ vs. FFRHX - Performance Comparison
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Returns By Period
In the year-to-date period, FSZ achieves a 3.31% return, which is significantly higher than FFRHX's 1.60% return. Over the past 10 years, FSZ has outperformed FFRHX with an annualized return of 10.12%, while FFRHX has yielded a comparatively lower 4.90% annualized return.
FSZ
- 1D
- 0.04%
- 1M
- 2.58%
- YTD
- 3.31%
- 6M
- 5.73%
- 1Y
- 10.99%
- 3Y*
- 12.66%
- 5Y*
- 6.04%
- 10Y*
- 10.12%
FFRHX
- 1D
- -0.11%
- 1M
- -0.00%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 5.89%
- 3Y*
- 7.24%
- 5Y*
- 5.35%
- 10Y*
- 4.90%
FSZ vs. FFRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSZ First Trust Switzerland AlphaDEX Fund | 3.31% | 30.10% | -1.85% | 21.30% | -20.12% | 20.18% | 13.83% | 25.88% | -15.22% | 31.30% |
FFRHX Fidelity Floating Rate High Income Fund | 1.60% | 5.47% | 7.10% | 12.63% | -1.55% | 5.01% | 1.69% | 8.63% | 0.10% | 3.91% |
Correlation
The correlation between FSZ and FFRHX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2012 | 0.26 |
The correlation between FSZ and FFRHX shifts across timeframes, from 0.13 (1 year) to 0.27 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FSZ vs. FFRHX — Risk / Return Rank
FSZ
FFRHX
FSZ vs. FFRHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Switzerland AlphaDEX Fund (FSZ) and Fidelity Floating Rate High Income Fund (FFRHX). 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.
| FSZ | FFRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -4.80 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.86 | -0.74 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 4.87 | -3.97 |
| Martin ratioReturn relative to average drawdown | 2.22 | 17.02 | -14.80 |
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Drawdowns
FSZ vs. FFRHX - Drawdown Comparison
The maximum FSZ drawdown since its inception was -33.97%, which is greater than FFRHX's maximum drawdown of -22.20%. Use the drawdown chart below to compare losses from any high point for FSZ and FFRHX.
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Drawdown Indicators
| FSZ | FFRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.97% | -22.20% | -11.77% |
Max Drawdown (1Y)Largest decline over 1 year | -10.39% | -1.19% | -9.20% |
Max Drawdown (3Y)Largest decline over 3 years | -13.93% | -3.29% | -10.64% |
Max Drawdown (5Y)Largest decline over 5 years | -33.96% | -5.90% | -28.06% |
Max Drawdown (10Y)Largest decline over 10 years | -33.97% | -22.20% | -11.77% |
Current DrawdownCurrent decline from peak | -3.93% | -0.55% | -3.38% |
Average DrawdownAverage peak-to-trough decline | -6.99% | -1.15% | -5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.22% | 0.34% | +3.88% |
Volatility
FSZ vs. FFRHX - Volatility Comparison
First Trust Switzerland AlphaDEX Fund (FSZ) has a higher volatility of 4.83% compared to Fidelity Floating Rate High Income Fund (FFRHX) at 0.64%. This indicates that FSZ's price experiences larger fluctuations and is considered to be riskier than FFRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSZ | FFRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 0.64% | +4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.09% | 1.63% | +9.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.50% | 2.37% | +12.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.38% | 2.88% | +16.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.94% | 4.14% | +14.80% |
FSZ vs. FFRHX - Expense Ratio Comparison
FSZ has a 0.80% expense ratio, which is higher than FFRHX's 0.67% expense ratio.
Dividends
FSZ vs. FFRHX - Dividend Comparison
FSZ's dividend yield for the trailing twelve months is around 2.36%, less than FFRHX's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFRHX Fidelity Floating Rate High Income Fund | 7.10% | 7.41% | 6.94% | 8.24% | 3.81% | 2.74% | 3.84% | 5.15% | 4.74% | 4.05% | 4.44% | 3.69% |
FSZ First Trust Switzerland AlphaDEX Fund | 2.36% | 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
FSZ and FFRHX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSZ has higher volatility (4.83%) compared to FFRHX (0.64%). In terms of maximum drawdown, FSZ dropped -33.97% vs FFRHX's -22.20%.
FFRHX currently has the higher Sharpe Ratio (2.45 vs 0.65), 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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