FXD vs. CARZ

Last updated Aug 2, 2026

FXD (First Trust Consumer Discretionary AlphaDEX Fund) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both Consumer Discretionary Equities funds from First Trust - FXD tracks the StrataQuant Consumer Discretionary Index while CARZ tracks the NASDAQ OMX Global Automobile (TR). Both are passively managed. Over the past 10 years, FXD returned 8.08%/yr vs 14.32%/yr for CARZ. Their 0.64 correlation means they have sometimes moved together and sometimes differently. FXD charges 0.63%/yr vs 0.70%/yr for CARZ.

Performance

FXD vs. CARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Consumer Discretionary AlphaDEX Fund (FXD) and First Trust NASDAQ Global Auto Index Fund (CARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXD achieves a 2.67% return, which is significantly lower than CARZ's 31.11% return. Over the past 10 years, FXD has underperformed CARZ with an annualized return of 8.08%, while CARZ has yielded a comparatively higher 14.32% annualized return.

FXD

• 1D: -1.15%
• 1M: 0.45%
• 6M: 1.98%
• YTD: 2.67%
• 1Y: 10.49%
• 3Y*: 7.96%
• 5Y*: 3.57%
• 10Y*: 8.08%
• ALL TIME*: 7.56%

CARZ

• 1D: -0.24%
• 1M: -7.17%
• 6M: 20.80%
• YTD: 31.11%
• 1Y: 66.56%
• 3Y*: 22.13%
• 5Y*: 12.78%
• 10Y*: 14.32%
• ALL TIME*: 10.15%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CARZ First Trust NASDAQ Global Auto Index Fund	$535.60K	$505.64K	$494.01K
FXD First Trust Consumer Discretionary AlphaDEX Fund	$1.22M	$850.69K	$681.18K

FXD vs. CARZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXD First Trust Consumer Discretionary AlphaDEX Fund	2.67%	6.70%	10.57%	23.39%	-21.56%	22.72%	12.97%	24.22%	-11.60%	19.77%
CARZ First Trust NASDAQ Global Auto Index Fund	31.11%	37.18%	3.26%	42.47%	-31.25%	18.09%	54.66%	11.39%	-23.91%	25.47%

Correlation

The correlation between FXD and CARZ is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.55
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since May 10, 2011	0.64

Over the past year, the correlation between FXD and CARZ has dropped to 0.38 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

FXD vs. CARZ - Sectors Allocation Comparison

Sectors	FXD	CARZ
Consumer Cyclical	68.1%	16.3%
Industrials	8.8%	6.4%
Communication Services	8.0%	4.1%
Consumer Defensive	7.1%	-
Technology	5.3%	69.1%
Energy	0.9%	-
Basic Materials	-	4.2%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FXD vs. CARZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FXD

FXD Risk / Return Rank: 22
FXD Sharpe Ratio Rank: 21
FXD Sortino Ratio Rank: 23
FXD Omega Ratio Rank: 20
FXD Calmar Ratio Rank: 22
FXD Martin Ratio Rank: 22

CARZ

CARZ Risk / Return Rank: 81
CARZ Sharpe Ratio Rank: 85
CARZ Sortino Ratio Rank: 78
CARZ Omega Ratio Rank: 81
CARZ Calmar Ratio Rank: 81
CARZ Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FXD vs. CARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Consumer Discretionary AlphaDEX Fund (FXD) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.

	FXD	CARZ	Difference
Sharpe ratio: Return per unit of total volatility	0.46	2.01	-1.55
Sortino ratio: Return per unit of downside risk	0.83	2.53	-1.70
Omega ratio: Gain probability vs. loss probability	1.09	1.34	-0.25
Calmar ratio: Return relative to maximum drawdown	0.65	2.98	-2.33
Martin ratio: Return relative to average drawdown	1.58	10.94	-9.36

FXD vs. CARZ - Sharpe Ratio Comparison

The current FXD Sharpe Ratio is 0.46, which is lower than the CARZ Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FXD and CARZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXD vs. CARZ - Drawdown Comparison

The maximum FXD drawdown since its inception was -65.27%, which is greater than CARZ's maximum drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for FXD and CARZ.

Drawdown Indicators

	FXD	CARZ	Difference
Max Drawdown Largest peak-to-trough decline	-65.27%	-51.20%	-14.07%
Max Drawdown (1Y) Largest decline over 1 year	-13.94%	-21.44%	+7.50%
Max Drawdown (3Y) Largest decline over 3 years	-26.02%	-27.84%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	-33.74%	-40.30%	+6.56%
Max Drawdown (10Y) Largest decline over 10 years	-49.54%	-51.20%	+1.66%
Current Drawdown Current decline from peak	-2.82%	-17.07%	+14.25%
Average Drawdown Average peak-to-trough decline	-10.91%	-12.87%	+1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	5.83%	-0.13%

Volatility

FXD vs. CARZ - Volatility Comparison

The current volatility for First Trust Consumer Discretionary AlphaDEX Fund (FXD) is 5.98%, while First Trust NASDAQ Global Auto Index Fund (CARZ) has a volatility of 12.06%. This indicates that FXD experiences smaller price fluctuations and is considered to be less risky than CARZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXD	CARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	12.06%	-6.08%
Volatility (6M) Calculated over the trailing 6-month period	15.29%	27.80%	-12.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.82%	31.88%	-12.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	29.28%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.72%	26.77%	-3.05%

FXD vs. CARZ - Expense Ratio Comparison

FXD has a 0.63% expense ratio, which is lower than CARZ's 0.70% expense ratio.

Dividends

FXD vs. CARZ - Dividend Comparison

FXD's dividend yield for the trailing twelve months is around 0.60%, less than CARZ's 1.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.34%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
FXD First Trust Consumer Discretionary AlphaDEX Fund	0.60%	0.80%	0.89%	0.70%	1.00%	0.62%	0.42%	0.92%	1.08%	0.93%	1.05%	0.90%

Frequently Asked Questions

Can I hold both FXD and CARZ in my portfolio?

FXD and CARZ have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXD or CARZ?

CARZ has higher volatility (12.06%) compared to FXD (5.98%). In terms of maximum drawdown, FXD dropped -65.27% vs CARZ's -51.20%.

Which ETF is better, FXD or CARZ?

On 10-year performance, CARZ leads with 14.32% vs 8.08% for FXD. On fees, FXD is cheaper at 0.63% per year. On volatility, FXD has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXD or CARZ?

Over the 10-year period, CARZ has performed better with a 14.32% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXD or CARZ?

FXD is cheaper with a 0.63% expense ratio, compared with 0.70% for CARZ.

Which ETF pays a higher dividend yield, FXD or CARZ?

CARZ has the higher dividend yield at 1.34%, compared with 0.60% for FXD.

What is the main difference between FXD and CARZ?

FXD tracks StrataQuant Consumer Discretionary Index, while CARZ tracks NASDAQ OMX Global Automobile (TR). Their fees differ too: 0.63% for FXD and 0.70% for CARZ.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (2.01 vs 0.46), 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.