FTEU.L vs. UD03.L

Last updated Jun 5, 2026

FTEU.L (First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares) and UD03.L (UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis) are both Europe Equities funds tracking the MSCI EMU NR EUR, from First Trust and UBS respectively. Both are passively managed. Over the past 5 years, FTEU.L returned 10.57%/yr vs 9.61%/yr for UD03.L. At a 0.29 correlation, their price movements are largely independent. FTEU.L charges 0.80%/yr vs 0.28%/yr for UD03.L.

Performance

FTEU.L vs. UD03.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) and UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FTEU.L is traded in USD, while UD03.L is traded in GBp. To make them comparable, the UD03.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FTEU.L having a 12.33% return and UD03.L slightly lower at 12.01%.

FTEU.L

• 1D: 0.25%
• 1M: 2.06%
• YTD: 12.33%
• 6M: 16.13%
• 1Y: 32.73%
• 3Y*: 25.79%
• 5Y*: 10.57%
• 10Y*: —

UD03.L

• 1D: 0.31%
• 1M: 3.82%
• YTD: 12.01%
• 6M: 15.93%
• 1Y: 23.07%
• 3Y*: 17.79%
• 5Y*: 9.61%
• 10Y*: —

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

FTEU.L vs. UD03.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FTEU.L First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares	12.33%	57.74%	2.77%	16.49%	-18.83%	11.78%	5.07%	-0.48%
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis	12.01%	34.24%	-1.18%	32.58%	-17.04%	10.94%	4.81%	0.00%

Correlation

The correlation between FTEU.L and UD03.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 17, 2019	0.29

Over the past year, FTEU.L and UD03.L have become more correlated (0.51) than their long-term average of 0.29, meaning their price movements have been converging.

FTEU.L vs. UD03.L - Sectors Allocation Comparison

Sectors	FTEU.L	UD03.L
Industrials	27.4%	12.1%
Energy	10.8%	2.7%
Financial Services	10.6%	28.5%
Consumer Cyclical	9.2%	7.0%
Utilities	8.3%	7.7%
Basic Materials	7.5%	4.2%
Real Estate	6.0%	-
Technology	6.0%	16.2%
Consumer Defensive	5.3%	14.6%
Healthcare	5.2%	4.1%
Communication Services	3.7%	3.1%

Return for Risk

FTEU.L vs. UD03.L — Risk / Return Rank

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

FTEU.L

FTEU.L Risk / Return Rank: 58
FTEU.L Sharpe Ratio Rank: 57
FTEU.L Sortino Ratio Rank: 55
FTEU.L Omega Ratio Rank: 59
FTEU.L Calmar Ratio Rank: 59
FTEU.L Martin Ratio Rank: 58

UD03.L

UD03.L Risk / Return Rank: 90
UD03.L Sharpe Ratio Rank: 94
UD03.L Sortino Ratio Rank: 92
UD03.L Omega Ratio Rank: 92
UD03.L Calmar Ratio Rank: 91
UD03.L Martin Ratio Rank: 82

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.

FTEU.L vs. UD03.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) and UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L). 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.

	FTEU.L	UD03.L	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.75	-0.85
Sortino ratio: Return per unit of downside risk	2.60	3.62	-1.01
Omega ratio: Gain probability vs. loss probability	1.36	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	2.85	4.95	-2.10
Martin ratio: Return relative to average drawdown	10.09	13.51	-3.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTEU.L vs. UD03.L - Sharpe Ratio Comparison

The current FTEU.L Sharpe Ratio is 1.90, which is lower than the UD03.L Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of FTEU.L and UD03.L, 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

	FTEU.L	UD03.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.75	-0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	1.15	-0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.96	-0.41

Drawdowns

FTEU.L vs. UD03.L - Drawdown Comparison

The maximum FTEU.L drawdown since its inception was -46.61%, which is greater than UD03.L's maximum drawdown of -39.27%. Use the drawdown chart below to compare losses from any high point for FTEU.L and UD03.L.

Drawdown Indicators

	FTEU.L	UD03.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.61%	-39.27%	-7.34%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-10.70%	-0.72%
Max Drawdown (3Y) Largest decline over 3 years	-15.66%	-14.61%	-1.05%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-31.37%	-7.12%
Current Drawdown Current decline from peak	-1.03%	-1.22%	+0.19%
Average Drawdown Average peak-to-trough decline	-10.34%	-5.02%	-5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	4.39%	-1.15%

Volatility

FTEU.L vs. UD03.L - Volatility Comparison

First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) has a higher volatility of 5.53% compared to UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis (UD03.L) at 4.33%. This indicates that FTEU.L's price experiences larger fluctuations and is considered to be riskier than UD03.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTEU.L	UD03.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	4.33%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	14.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.14%	19.34%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.22%	37.10%	-16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	59.47%	-39.61%

FTEU.L vs. UD03.L - Expense Ratio Comparison

FTEU.L has a 0.80% expense ratio, which is higher than UD03.L's 0.28% expense ratio.

Dividends

FTEU.L vs. UD03.L - Dividend Comparison

FTEU.L has not paid dividends to shareholders, while UD03.L's dividend yield for the trailing twelve months is around 2.54%.

Position	TTM	2025	2024	2023	2022	2021	2020
FTEU.L First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UD03.L UBS ETF (LU) Factor MSCI EMU Prime Value UCITS ETF (EUR) A-dis	2.54%	2.97%	2.84%	3.67%	3.96%	3.50%	2.07%

Frequently Asked Questions

Can I hold both FTEU.L and UD03.L in my portfolio?

FTEU.L and UD03.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTEU.L or UD03.L?

On fees, UD03.L is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTEU.L or UD03.L?

UD03.L is cheaper with a 0.28% expense ratio, compared with 0.80% for FTEU.L.

What is the main difference between FTEU.L and UD03.L?

Both ETFs track MSCI EMU NR EUR. They also come from different issuers: First Trust and UBS. Their fees differ too: 0.80% for FTEU.L and 0.28% for UD03.L.