FXN vs. IBMT
FXN (First Trust Energy AlphaDEX Fund) and IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) are both exchange-traded funds - FXN is a Energy Equities fund tracking the StrataQuant Energy Index, while IBMT is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2031 Index. Both are passively managed. Over the past year, FXN returned 45.83% vs 3.31% for IBMT. Their -0.20 correlation means they have often moved in opposite directions in the past. FXN charges 0.64%/yr vs 0.18%/yr for IBMT.
Performance
FXN vs. IBMT - Performance Comparison
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Returns By Period
In the year-to-date period, FXN achieves a 34.12% return, which is significantly higher than IBMT's 0.60% return.
FXN
- 1D
- -0.77%
- 1M
- 8.88%
- 6M
- 23.33%
- YTD
- 34.12%
- 1Y
- 45.83%
- 3Y*
- 10.71%
- 5Y*
- 19.56%
- 10Y*
- 6.54%
- ALL TIME*
- 2.12%
IBMT
- 1D
- 0.22%
- 1M
- -0.95%
- 6M
- -0.35%
- YTD
- 0.60%
- 1Y
- 3.31%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.82M | $9.25M | $37.23M | |
| $1.19M | $1.36M | $1.13M |
FXN vs. IBMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 34.12% | 0.56% |
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF | 0.60% | 7.26% |
Correlation
The correlation between FXN and IBMT is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025 | -0.20 |
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Return for Risk
FXN vs. IBMT — Risk / Return Rank
FXN
IBMT
FXN vs. IBMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). 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 | IBMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.07 | +2.36 |
| Martin ratioReturn relative to average drawdown | 8.58 | 2.95 | +5.63 |
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Drawdowns
FXN vs. IBMT - Drawdown Comparison
The maximum FXN drawdown since its inception was -87.39%, which is greater than IBMT's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for FXN and IBMT.
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Drawdown Indicators
| FXN | IBMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.39% | -3.18% | -84.21% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -3.10% | -10.31% |
Max Drawdown (3Y)Largest decline over 3 years | -31.69% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.63% | — | — |
Current DrawdownCurrent decline from peak | -5.06% | -1.26% | -3.80% |
Average DrawdownAverage peak-to-trough decline | -37.73% | -0.76% | -36.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.36% | 1.12% | +4.24% |
Volatility
FXN vs. IBMT - Volatility Comparison
First Trust Energy AlphaDEX Fund (FXN) has a higher volatility of 6.21% compared to iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) at 0.69%. This indicates that FXN's price experiences larger fluctuations and is considered to be riskier than IBMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXN | IBMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 0.69% | +5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 17.24% | 2.38% | +14.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.15% | 3.00% | +20.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.71% | 3.84% | +24.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.80% | 3.84% | +30.96% |
FXN vs. IBMT - Expense Ratio Comparison
FXN has a 0.64% expense ratio, which is higher than IBMT's 0.18% expense ratio.
Dividends
FXN vs. IBMT - Dividend Comparison
FXN's dividend yield for the trailing twelve months is around 1.63%, less than IBMT's 3.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 1.63% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF | 3.44% | 2.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FXN and IBMT have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXN has higher volatility (6.21%) compared to IBMT (0.69%). In terms of maximum drawdown, FXN dropped -87.39% vs IBMT's -3.18%.
On 1-year performance, FXN leads with 45.83% vs 3.31% for IBMT. On fees, IBMT is cheaper at 0.18% per year. On volatility, IBMT has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FXN has performed better with a 45.83% return vs 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBMT is cheaper with a 0.18% expense ratio, compared with 0.64% for FXN.
IBMT has the higher dividend yield at 3.44%, compared with 1.63% for FXN.
FXN is categorized as Energy Equities, while IBMT is Municipal Bonds. FXN tracks StrataQuant Energy Index, while IBMT tracks S&P AMT-Free Municipal Series Dec 2031 Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.64% for FXN and 0.18% for IBMT.
FXN currently has the higher Sharpe Ratio (1.99 vs 1.11), 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.
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