FXN vs. BKGI

Last updated Jun 5, 2026

FXN (First Trust Energy AlphaDEX Fund) and BKGI (Bny Mellon Global Infrastructure Income ETF) are both Energy Equities funds. FXN is passively managed, while BKGI is actively managed. Over the past 3 years, FXN returned 17.11%/yr vs 22.42%/yr for BKGI. At a 0.37 correlation, their price movements are largely independent. FXN charges 0.64%/yr vs 0.65%/yr for BKGI.

Performance

FXN vs. BKGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Energy AlphaDEX Fund (FXN) and Bny Mellon Global Infrastructure Income ETF (BKGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXN achieves a 36.33% return, which is significantly higher than BKGI's 13.10% return.

FXN

• 1D: 0.22%
• 1M: -1.41%
• YTD: 36.33%
• 6M: 30.66%
• 1Y: 55.14%
• 3Y*: 17.11%
• 5Y*: 17.36%
• 10Y*: 6.10%

BKGI

• 1D: 0.80%
• 1M: 0.26%
• YTD: 13.10%
• 6M: 13.25%
• 1Y: 23.46%
• 3Y*: 22.42%
• 5Y*: —
• 10Y*: —

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

FXN vs. BKGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FXN First Trust Energy AlphaDEX Fund	36.33%	3.39%	0.27%	0.97%	-7.93%
BKGI Bny Mellon Global Infrastructure Income ETF	13.10%	37.53%	12.35%	9.72%	8.54%

Correlation

The correlation between FXN and BKGI is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	0.37

Over the past year, the correlation between FXN and BKGI has dropped to 0.11 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

FXN vs. BKGI - Sectors Allocation Comparison

Sectors	FXN	BKGI
Energy	95.4%	21.6%
Technology	4.6%	-
Basic Materials	-	-
Communication Services	-	3.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	14.0%
Real Estate	-	11.5%
Utilities	-	49.3%

Return for Risk

FXN vs. BKGI — Risk / Return Rank

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

FXN

FXN Risk / Return Rank: 72
FXN Sharpe Ratio Rank: 74
FXN Sortino Ratio Rank: 66
FXN Omega Ratio Rank: 62
FXN Calmar Ratio Rank: 86
FXN Martin Ratio Rank: 72

BKGI

BKGI Risk / Return Rank: 66
BKGI Sharpe Ratio Rank: 62
BKGI Sortino Ratio Rank: 61
BKGI Omega Ratio Rank: 62
BKGI Calmar Ratio Rank: 77
BKGI Martin Ratio Rank: 69

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.

FXN vs. BKGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and Bny Mellon Global Infrastructure Income ETF (BKGI). 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.

	FXN	BKGI	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.03	+0.34
Sortino ratio: Return per unit of downside risk	2.98	2.82	+0.17
Omega ratio: Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio: Return relative to maximum drawdown	4.69	3.83	+0.86
Martin ratio: Return relative to average drawdown	13.26	12.53	+0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXN vs. BKGI - Sharpe Ratio Comparison

The current FXN Sharpe Ratio is 2.37, which is comparable to the BKGI Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FXN and BKGI, 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

	FXN	BKGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	2.03	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	1.63	-1.56

Drawdowns

FXN vs. BKGI - Drawdown Comparison

The maximum FXN drawdown since its inception was -87.39%, which is greater than BKGI's maximum drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for FXN and BKGI.

Drawdown Indicators

	FXN	BKGI	Difference
Max Drawdown Largest peak-to-trough decline	-87.39%	-14.79%	-72.60%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-6.16%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	-31.69%	-14.16%	-17.53%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-80.63%	—	—
Current Drawdown Current decline from peak	-3.49%	-2.37%	-1.12%
Average Drawdown Average peak-to-trough decline	-37.98%	-2.57%	-35.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	1.88%	+2.29%

Volatility

FXN vs. BKGI - Volatility Comparison

First Trust Energy AlphaDEX Fund (FXN) has a higher volatility of 7.52% compared to Bny Mellon Global Infrastructure Income ETF (BKGI) at 4.19%. This indicates that FXN's price experiences larger fluctuations and is considered to be riskier than BKGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXN	BKGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.52%	4.19%	+3.33%
Volatility (6M) Calculated over the trailing 6-month period	17.01%	9.07%	+7.94%
Volatility (1Y) Calculated over the trailing 1-year period	23.42%	11.60%	+11.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.92%	14.07%	+14.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.99%	14.07%	+20.92%

FXN vs. BKGI - Expense Ratio Comparison

FXN has a 0.64% expense ratio, which is lower than BKGI's 0.65% expense ratio.

Dividends

FXN vs. BKGI - Dividend Comparison

FXN's dividend yield for the trailing twelve months is around 1.76%, less than BKGI's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKGI Bny Mellon Global Infrastructure Income ETF	2.67%	2.65%	4.55%	4.55%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXN First Trust Energy AlphaDEX Fund	1.76%	2.53%	2.50%	3.09%	2.28%	0.87%	4.71%	1.47%	1.43%	1.17%	1.05%	2.36%

Frequently Asked Questions

Can I hold both FXN and BKGI in my portfolio?

FXN and BKGI have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXN or BKGI?

FXN has higher volatility (7.52%) compared to BKGI (4.19%). In terms of maximum drawdown, FXN dropped -87.39% vs BKGI's -14.79%.

Which ETF is better, FXN or BKGI?

On 3-year performance, BKGI leads with 22.42% vs 17.11% for FXN. On fees, FXN is cheaper at 0.64% per year. On volatility, BKGI has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXN or BKGI?

Over the 3-year period, BKGI has performed better with a 22.42% return vs 17.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXN or BKGI?

FXN is cheaper with a 0.64% expense ratio, compared with 0.65% for BKGI.

Which ETF pays a higher dividend yield, FXN or BKGI?

BKGI has the higher dividend yield at 2.67%, compared with 1.76% for FXN.

What is the main difference between FXN and BKGI?

They also come from different issuers: First Trust and BNY Mellon. Their fees differ too: 0.64% for FXN and 0.65% for BKGI.

Which has better risk-adjusted returns?

FXN currently has the higher Sharpe Ratio (2.37 vs 2.03), 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.