FXL vs. GRID

Last updated Jun 4, 2026

FXL (First Trust Technology AlphaDEX Fund) and GRID (First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index) are both exchange-traded funds - FXL is a Technology Equities fund tracking the StrataQuant Technology Index, while GRID is a Alternative Energy Equities fund tracking the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, FXL returned 21.15%/yr vs 19.76%/yr for GRID. A 0.67 correlation means they provide meaningful diversification when combined. FXL charges 0.61%/yr vs 0.70%/yr for GRID.

Performance

FXL vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Technology AlphaDEX Fund (FXL) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXL achieves a 31.98% return, which is significantly higher than GRID's 28.91% return. Over the past 10 years, FXL has outperformed GRID with an annualized return of 21.15%, while GRID has yielded a comparatively lower 19.76% annualized return.

FXL

• 1D: -0.88%
• 1M: 17.50%
• YTD: 31.98%
• 6M: 30.18%
• 1Y: 48.07%
• 3Y*: 26.93%
• 5Y*: 13.48%
• 10Y*: 21.15%

GRID

• 1D: -0.17%
• 1M: 3.85%
• YTD: 28.91%
• 6M: 29.60%
• 1Y: 51.55%
• 3Y*: 26.27%
• 5Y*: 17.84%
• 10Y*: 19.76%

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

FXL vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXL First Trust Technology AlphaDEX Fund	31.98%	13.29%	16.13%	40.50%	-30.44%	18.20%	54.20%	38.66%	2.72%	35.82%
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	28.91%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between FXL and GRID is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Nov 18, 2009	0.67

The correlation between FXL and GRID shifts across timeframes, from 0.67 (all time) to 0.79 (5 years), reflecting how their relationship changes across market environments.

FXL vs. GRID - Sectors Allocation Comparison

Sectors	FXL	GRID
Technology	88.1%	11.0%
Communication Services	5.9%	-
Industrials	4.5%	65.2%
Consumer Cyclical	1.0%	3.5%
Financial Services	0.6%	-
Basic Materials	-	0.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	20.4%

Return for Risk

FXL vs. GRID — Risk / Return Rank

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

FXL

FXL Risk / Return Rank: 63
FXL Sharpe Ratio Rank: 64
FXL Sortino Ratio Rank: 60
FXL Omega Ratio Rank: 57
FXL Calmar Ratio Rank: 71
FXL Martin Ratio Rank: 65

GRID

GRID Risk / Return Rank: 79
GRID Sharpe Ratio Rank: 81
GRID Sortino Ratio Rank: 76
GRID Omega Ratio Rank: 74
GRID Calmar Ratio Rank: 82
GRID 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.

FXL vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Technology AlphaDEX Fund (FXL) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). 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.

	FXL	GRID	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.67	-0.51
Sortino ratio: Return per unit of downside risk	2.84	3.50	-0.66
Omega ratio: Gain probability vs. loss probability	1.35	1.45	-0.10
Calmar ratio: Return relative to maximum drawdown	3.56	4.42	-0.86
Martin ratio: Return relative to average drawdown	11.95	16.72	-4.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXL vs. GRID - Sharpe Ratio Comparison

The current FXL Sharpe Ratio is 2.16, which is comparable to the GRID Sharpe Ratio of 2.67. The chart below compares the historical Sharpe Ratios of FXL and GRID, 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

	FXL	GRID	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.67	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.85	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.87	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.57	-0.01

Drawdowns

FXL vs. GRID - Drawdown Comparison

The maximum FXL drawdown since its inception was -61.41%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for FXL and GRID.

Drawdown Indicators

	FXL	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-40.56%	-20.85%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-11.73%	-1.83%
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	-20.77%	-7.50%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-29.64%	-8.85%
Max Drawdown (10Y) Largest decline over 10 years	-38.49%	-40.56%	+2.07%
Current Drawdown Current decline from peak	-0.88%	-1.33%	+0.45%
Average Drawdown Average peak-to-trough decline	-11.37%	-8.43%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	3.09%	+0.94%

Volatility

FXL vs. GRID - Volatility Comparison

First Trust Technology AlphaDEX Fund (FXL) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID) have volatilities of 7.61% and 7.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXL	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	7.95%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	17.47%	16.08%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	22.42%	19.39%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	21.00%	+4.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.28%	22.81%	+2.47%

FXL vs. GRID - Expense Ratio Comparison

FXL has a 0.61% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

FXL vs. GRID - Dividend Comparison

FXL has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.77%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXL First Trust Technology AlphaDEX Fund	0.00%	0.01%	0.11%	0.41%	0.34%	0.11%	0.04%	0.37%	0.32%	0.27%	1.12%	0.36%
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index	0.77%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both FXL and GRID in my portfolio?

FXL and GRID have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXL or GRID?

GRID has higher volatility (7.95%) compared to FXL (7.61%). In terms of maximum drawdown, FXL dropped -61.41% vs GRID's -40.56%.

Which ETF is better, FXL or GRID?

On 10-year performance, FXL leads with 21.15% vs 19.76% for GRID. On fees, FXL is cheaper at 0.61% per year. On volatility, FXL has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXL or GRID?

Over the 10-year period, FXL has performed better with a 21.15% return vs 19.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXL or GRID?

FXL is cheaper with a 0.61% expense ratio, compared with 0.70% for GRID.

Which ETF pays a higher dividend yield, FXL or GRID?

GRID has the higher dividend yield at 0.77%, compared with 0.00% for FXL.

What is the main difference between FXL and GRID?

FXL is categorized as Technology Equities, while GRID is Alternative Energy Equities. FXL tracks StrataQuant Technology Index, while GRID tracks NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. Their fees differ too: 0.61% for FXL and 0.70% for GRID.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (2.67 vs 2.16), 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.