PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FXH vs. IYW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FXH vs. IYW

Last updated Jun 4, 2026

FXH (First Trust Health Care AlphaDEX Fund) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - FXH is a Health & Biotech Equities fund tracking the StrataQuant Health Care Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, FXH returned 7.03%/yr vs 26.11%/yr for IYW. A 0.61 correlation means they provide meaningful diversification when combined. FXH charges 0.61%/yr vs 0.38%/yr for IYW.

Performance

FXH vs. IYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Health Care AlphaDEX Fund (FXH) and iShares U.S. Technology ETF (IYW). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FXH achieves a 0.68% return, which is significantly lower than IYW's 29.03% return. Over the past 10 years, FXH has underperformed IYW with an annualized return of 7.03%, while IYW has yielded a comparatively higher 26.11% annualized return.

FXH

1D
1.48%
1M
1.65%
YTD
0.68%
6M
-0.88%
1Y
13.28%
3Y*
3.52%
5Y*
0.56%
10Y*
7.03%

IYW

1D
-0.92%
1M
16.53%
YTD
29.03%
6M
28.22%
1Y
59.52%
3Y*
35.24%
5Y*
22.87%
10Y*
26.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FXH vs. IYW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FXH
First Trust Health Care AlphaDEX Fund		0.68%10.16%0.96%-4.53%-12.24%15.20%28.00%22.26%-1.33%21.82%
IYW
iShares U.S. Technology ETF		29.03%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%

Correlation

The correlation between FXH and IYW is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.25

Correlation (3Y)
Calculated over the trailing 3-year period

0.36

Correlation (5Y)
Calculated over the trailing 5-year period

0.51

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since May 11, 2007

0.62

Over the past year, the correlation between FXH and IYW has dropped to 0.25 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Health Care AlphaDEX Fund

iShares U.S. Technology ETF

Often compared with FXH:
FXH vs. IHFFXH vs. XLVFXH vs. FBTFXH vs. GRIDFXH vs. MDEVFXH vs. VHTFXH vs. FXAIX
Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. IWFIYW vs. SOXX

Return for Risk

FXH vs. IYW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXH
FXH Risk / Return Rank: 2424
Overall Rank
FXH Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
FXH Sortino Ratio Rank: 2424
Sortino Ratio Rank
FXH Omega Ratio Rank: 2323
Omega Ratio Rank
FXH Calmar Ratio Rank: 2424
Calmar Ratio Rank
FXH Martin Ratio Rank: 2525
Martin Ratio Rank
IYW
IYW Risk / Return Rank: 7575
Overall Rank
IYW Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IYW Omega Ratio Rank: 8080
Omega Ratio Rank
IYW Calmar Ratio Rank: 6666
Calmar Ratio Rank
IYW Martin Ratio Rank: 6060
Martin Ratio Rank
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.

FXH vs. IYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Health Care AlphaDEX Fund (FXH) and iShares U.S. Technology ETF (IYW). 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.

FXHIYWDifference
Sharpe ratioReturn per unit of total volatility
0.85
2.98

-2.13

Sortino ratioReturn per unit of downside risk
1.34
3.70

-2.35

Omega ratioGain probability vs. loss probability

1.15

1.48

-0.33

Calmar ratioReturn relative to maximum drawdown

1.09

3.36

-2.26

Martin ratioReturn relative to average drawdown

3.33

11.00

-7.66

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXH vs. IYW - Sharpe Ratio Comparison

The current FXH Sharpe Ratio is 0.85, which is lower than the IYW Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of FXH and IYW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

FXHIYWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.85

2.98

-2.13

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.03

0.89

-0.86

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.38

1.04

-0.66

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.35

+0.16

Drawdowns

FXH vs. IYW - Drawdown Comparison

The maximum FXH drawdown since its inception was -43.70%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for FXH and IYW.

Loading charts...

Drawdown Indicators

FXHIYWDifference

Max Drawdown

Largest peak-to-trough decline

-43.70%

-81.90%

+38.20%

Max Drawdown (1Y)

Largest decline over 1 year

-12.20%

-17.81%

+5.61%

Max Drawdown (3Y)

Largest decline over 3 years

-17.53%

-26.47%

+8.94%

Max Drawdown (5Y)

Largest decline over 5 years

-29.49%

-39.44%

+9.95%

Max Drawdown (10Y)

Largest decline over 10 years

-30.61%

-39.44%

+8.83%

Current Drawdown

Current decline from peak

-9.07%

-0.92%

-8.15%

Average Drawdown

Average peak-to-trough decline

-9.46%

-34.66%

+25.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.99%

5.43%

-1.44%

Volatility

FXH vs. IYW - Volatility Comparison

The current volatility for First Trust Health Care AlphaDEX Fund (FXH) is 4.16%, while iShares U.S. Technology ETF (IYW) has a volatility of 6.30%. This indicates that FXH experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FXHIYWDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.16%

6.30%

-2.14%

Volatility (6M)

Calculated over the trailing 6-month period

11.17%

15.85%

-4.68%

Volatility (1Y)

Calculated over the trailing 1-year period

15.75%

20.09%

-4.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.52%

25.87%

-9.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.47%

25.09%

-6.62%

FXH vs. IYW - Expense Ratio Comparison

FXH has a 0.61% expense ratio, which is higher than IYW's 0.38% expense ratio.

Dividends

FXH vs. IYW - Dividend Comparison

FXH's dividend yield for the trailing twelve months is around 0.85%, more than IYW's 0.11% yield.

PositionTTM20252024202320222021202020192018201720162015
FXH
First Trust Health Care AlphaDEX Fund		0.85%0.75%0.41%0.24%0.20%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IYW
iShares U.S. Technology ETF		0.11%0.14%0.21%0.34%0.50%0.31%0.56%0.72%0.92%0.82%1.14%1.12%

Frequently Asked Questions

FXH and IYW have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IYW has higher volatility (6.30%) compared to FXH (4.16%). In terms of maximum drawdown, FXH dropped -43.70% vs IYW's -81.90%.

On 10-year performance, IYW leads with 26.11% vs 7.03% for FXH. On fees, IYW is cheaper at 0.38% per year. On volatility, FXH has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYW has performed better with a 26.11% return vs 7.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYW is cheaper with a 0.38% expense ratio, compared with 0.61% for FXH.

FXH has the higher dividend yield at 0.85%, compared with 0.11% for IYW.

FXH is categorized as Health & Biotech Equities, while IYW is Technology Equities. FXH tracks StrataQuant Health Care Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.61% for FXH and 0.38% for IYW.

IYW currently has the higher Sharpe Ratio (2.98 vs 0.85), 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.

Portfolio Optimizer

Find the right allocation for FXH and IYW

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer