FXN vs. CRAK

Last updated Jun 24, 2026

FXN (First Trust Energy AlphaDEX Fund) and CRAK (VanEck Oil Refiners ETF) are both Energy Equities funds - FXN tracks the StrataQuant Energy Index while CRAK tracks the MVIS Global Oil Refiners Index. Both are passively managed. Over the past 10 years, FXN returned 5.82%/yr vs 12.77%/yr for CRAK. A 0.67 correlation means they provide meaningful diversification when combined. FXN charges 0.64%/yr vs 0.62%/yr for CRAK.

Performance

FXN vs. CRAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Energy AlphaDEX Fund (FXN) and VanEck Oil Refiners ETF (CRAK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXN achieves a 25.36% return, which is significantly higher than CRAK's 20.86% return. Over the past 10 years, FXN has underperformed CRAK with an annualized return of 5.82%, while CRAK has yielded a comparatively higher 12.77% annualized return.

FXN

• 1D: 0.10%
• 1M: -7.84%
• YTD: 25.36%
• 6M: 25.74%
• 1Y: 36.81%
• 3Y*: 13.95%
• 5Y*: 15.13%
• 10Y*: 5.82%

CRAK

• 1D: -0.83%
• 1M: -6.54%
• YTD: 20.86%
• 6M: 20.73%
• 1Y: 42.08%
• 3Y*: 19.31%
• 5Y*: 12.08%
• 10Y*: 12.77%

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

FXN vs. CRAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXN First Trust Energy AlphaDEX Fund	25.36%	3.39%	0.27%	0.97%	46.92%	51.79%	-19.91%	-6.76%	-24.79%	-5.02%
CRAK VanEck Oil Refiners ETF	20.86%	39.11%	-15.05%	13.73%	19.10%	10.90%	-11.22%	9.15%	-10.46%	49.86%

Correlation

The correlation between FXN and CRAK is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.67

The correlation between FXN and CRAK shifts across timeframes, from 0.59 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

FXN vs. CRAK - Sectors Allocation Comparison

Sectors	FXN	CRAK
Energy	92.2%	98.8%
Technology	7.8%	-
Basic Materials	-	1.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	4.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

FXN vs. CRAK — Risk / Return Rank

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

FXN

FXN Risk / Return Rank: 49
FXN Sharpe Ratio Rank: 48
FXN Sortino Ratio Rank: 44
FXN Omega Ratio Rank: 42
FXN Calmar Ratio Rank: 62
FXN Martin Ratio Rank: 51

CRAK

CRAK Risk / Return Rank: 69
CRAK Sharpe Ratio Rank: 73
CRAK Sortino Ratio Rank: 70
CRAK Omega Ratio Rank: 66
CRAK Calmar Ratio Rank: 69
CRAK Martin Ratio Rank: 66

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. CRAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and VanEck Oil Refiners ETF (CRAK). 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.

	FXN	CRAK	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.21	-0.64
Sortino ratio: Return per unit of downside risk	2.10	2.98	-0.88
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	2.85	3.29	-0.44
Martin ratio: Return relative to average drawdown	8.08	11.53	-3.45

FXN vs. CRAK - Sharpe Ratio Comparison

The current FXN Sharpe Ratio is 1.57, which is comparable to the CRAK Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of FXN and CRAK, 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

FXN vs. CRAK - Drawdown Comparison

The maximum FXN drawdown since its inception was -87.39%, which is greater than CRAK's maximum drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for FXN and CRAK.

Drawdown Indicators

	FXN	CRAK	Difference
Max Drawdown Largest peak-to-trough decline	-87.39%	-58.80%	-28.59%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-12.84%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-31.69%	-35.61%	+3.92%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-35.61%	+3.92%
Max Drawdown (10Y) Largest decline over 10 years	-80.63%	-58.80%	-21.83%
Current Drawdown Current decline from peak	-11.26%	-12.74%	+1.48%
Average Drawdown Average peak-to-trough decline	-37.90%	-12.47%	-25.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	3.66%	+0.91%

Volatility

FXN vs. CRAK - Volatility Comparison

First Trust Energy AlphaDEX Fund (FXN) has a higher volatility of 7.38% compared to VanEck Oil Refiners ETF (CRAK) at 6.42%. This indicates that FXN's price experiences larger fluctuations and is considered to be riskier than CRAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXN	CRAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	6.42%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	17.15%	15.00%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	23.85%	19.11%	+4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.95%	20.67%	+8.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.94%	22.17%	+12.77%

FXN vs. CRAK - Expense Ratio Comparison

FXN has a 0.64% expense ratio, which is higher than CRAK's 0.62% expense ratio.

Dividends

FXN vs. CRAK - Dividend Comparison

FXN's dividend yield for the trailing twelve months is around 1.91%, more than CRAK's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRAK VanEck Oil Refiners ETF	1.67%	2.02%	5.60%	3.65%	3.08%	2.40%	2.64%	1.49%	2.42%	1.66%	3.42%	0.47%
FXN First Trust Energy AlphaDEX Fund	1.91%	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 CRAK in my portfolio?

FXN and CRAK have a correlation of 0.59, 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 CRAK?

FXN has higher volatility (7.38%) compared to CRAK (6.42%). In terms of maximum drawdown, FXN dropped -87.39% vs CRAK's -58.80%.

Which ETF is better, FXN or CRAK?

On 10-year performance, CRAK leads with 12.77% vs 5.82% for FXN. On fees, CRAK is cheaper at 0.62% per year. On volatility, CRAK has been the lower-risk option at 6.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXN or CRAK?

Over the 10-year period, CRAK has performed better with a 12.77% return vs 5.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXN or CRAK?

CRAK is cheaper with a 0.62% expense ratio, compared with 0.64% for FXN.

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

FXN has the higher dividend yield at 1.91%, compared with 1.67% for CRAK.

What is the main difference between FXN and CRAK?

FXN tracks StrataQuant Energy Index, while CRAK tracks MVIS Global Oil Refiners Index. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.64% for FXN and 0.62% for CRAK.

Which has better risk-adjusted returns?

CRAK currently has the higher Sharpe Ratio (2.21 vs 1.57), 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.