FXN vs. EIPX

Last updated Jun 24, 2026

FXN (First Trust Energy AlphaDEX Fund) and EIPX (FT Energy Income Partners Strategy ETF) are both Energy Equities funds from First Trust. FXN is passively managed, while EIPX is actively managed. Over the past 3 years, FXN returned 13.95%/yr vs 21.25%/yr for EIPX. Their correlation of 0.85 suggests significant overlap in exposure. FXN charges 0.64%/yr vs 0.95%/yr for EIPX.

Performance

FXN vs. EIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Energy AlphaDEX Fund (FXN) and FT Energy Income Partners Strategy ETF (EIPX). 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 EIPX's 20.93% 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%

EIPX

• 1D: 1.02%
• 1M: -3.17%
• YTD: 20.93%
• 6M: 20.98%
• 1Y: 27.12%
• 3Y*: 21.25%
• 5Y*: —
• 10Y*: —

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

FXN vs. EIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FXN First Trust Energy AlphaDEX Fund	25.36%	3.39%	0.27%	0.97%	-6.07%
EIPX FT Energy Income Partners Strategy ETF	20.93%	11.44%	19.11%	10.74%	1.77%

Correlation

The correlation between FXN and EIPX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 3, 2022	0.85

The correlation between FXN and EIPX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

FXN vs. EIPX - Sectors Allocation Comparison

Sectors	FXN	EIPX
Energy	92.2%	68.4%
Technology	7.8%	0.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	4.8%
Real Estate	-	-
Utilities	-	26.4%

Return for Risk

FXN vs. EIPX — 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

EIPX

EIPX Risk / Return Rank: 83
EIPX Sharpe Ratio Rank: 83
EIPX Sortino Ratio Rank: 84
EIPX Omega Ratio Rank: 76
EIPX Calmar Ratio Rank: 90
EIPX Martin Ratio Rank: 84

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. EIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and FT Energy Income Partners Strategy ETF (EIPX). 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	EIPX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.45	-0.88
Sortino ratio: Return per unit of downside risk	2.10	3.49	-1.39
Omega ratio: Gain probability vs. loss probability	1.26	1.41	-0.16
Calmar ratio: Return relative to maximum drawdown	2.85	5.27	-2.42
Martin ratio: Return relative to average drawdown	8.08	16.25	-8.17

FXN vs. EIPX - Sharpe Ratio Comparison

The current FXN Sharpe Ratio is 1.57, which is lower than the EIPX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FXN and EIPX, 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. EIPX - Drawdown Comparison

The maximum FXN drawdown since its inception was -87.39%, which is greater than EIPX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for FXN and EIPX.

Drawdown Indicators

	FXN	EIPX	Difference
Max Drawdown Largest peak-to-trough decline	-87.39%	-15.43%	-71.96%
Max Drawdown (1Y) Largest decline over 1 year	-12.99%	-5.17%	-7.82%
Max Drawdown (3Y) Largest decline over 3 years	-31.69%	-15.43%	-16.26%
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	-11.26%	-3.41%	-7.85%
Average Drawdown Average peak-to-trough decline	-37.90%	-2.29%	-35.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	1.67%	+2.90%

Volatility

FXN vs. EIPX - Volatility Comparison

First Trust Energy AlphaDEX Fund (FXN) has a higher volatility of 7.38% compared to FT Energy Income Partners Strategy ETF (EIPX) at 3.61%. This indicates that FXN's price experiences larger fluctuations and is considered to be riskier than EIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXN	EIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	3.61%	+3.77%
Volatility (6M) Calculated over the trailing 6-month period	17.15%	8.44%	+8.71%
Volatility (1Y) Calculated over the trailing 1-year period	23.85%	11.17%	+12.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.95%	15.02%	+13.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.94%	15.02%	+19.92%

FXN vs. EIPX - Expense Ratio Comparison

FXN has a 0.64% expense ratio, which is lower than EIPX's 0.95% expense ratio.

Dividends

FXN vs. EIPX - Dividend Comparison

FXN's dividend yield for the trailing twelve months is around 1.91%, less than EIPX's 2.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPX FT Energy Income Partners Strategy ETF	2.70%	3.23%	3.27%	3.48%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 EIPX in my portfolio?

FXN and EIPX have a correlation of 0.79, 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 EIPX?

FXN has higher volatility (7.38%) compared to EIPX (3.61%). In terms of maximum drawdown, FXN dropped -87.39% vs EIPX's -15.43%.

Which ETF is better, FXN or EIPX?

On 3-year performance, EIPX leads with 21.25% vs 13.95% for FXN. On fees, FXN is cheaper at 0.64% per year. On volatility, EIPX has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXN or EIPX?

Over the 3-year period, EIPX has performed better with a 21.25% return vs 13.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXN or EIPX?

FXN is cheaper with a 0.64% expense ratio, compared with 0.95% for EIPX.

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

EIPX has the higher dividend yield at 2.70%, compared with 1.91% for FXN.

What is the main difference between FXN and EIPX?

Their fees differ too: 0.64% for FXN and 0.95% for EIPX.

Which has better risk-adjusted returns?

EIPX currently has the higher Sharpe Ratio (2.45 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.