FXN vs. RAYS

Last updated Aug 4, 2026

FXN (First Trust Energy AlphaDEX Fund) and RAYS (Global X Solar ETF) are both exchange-traded funds - FXN is a Energy Equities fund tracking the StrataQuant Energy Index, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. Both are passively managed. FXN charges 0.64%/yr vs 0.50%/yr for RAYS.

Performance

FXN vs. RAYS - Performance Comparison

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

Returns By Period

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%

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FXN First Trust Energy AlphaDEX Fund	$7.82M	$9.25M	$37.23M
RAYS Global X Solar ETF	$0.00	$0.00	$0.00

FXN vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
FXN First Trust Energy AlphaDEX Fund	18.38%
RAYS Global X Solar ETF	0.00%

FXN vs. RAYS - Sectors Allocation Comparison

Sectors	FXN	RAYS
Energy	90.0%	-
Technology	5.0%	66.9%
Financial Services	2.5%	-
Basic Materials	-	0.9%
Communication Services	-	-
Consumer Cyclical	-	4.0%
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	21.4%
Real Estate	-	-
Utilities	-	6.8%

Return for Risk

FXN vs. RAYS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FXN

FXN Risk / Return Rank: 76
FXN Sharpe Ratio Rank: 81
FXN Sortino Ratio Rank: 75
FXN Omega Ratio Rank: 72
FXN Calmar Ratio Rank: 85
FXN Martin Ratio Rank: 67

RAYS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FXN vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and Global X Solar ETF (RAYS). 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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.56	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	3.43	—	—
Martin ratio: Return relative to average drawdown	8.58	—	—

Drawdowns

FXN vs. RAYS - Drawdown Comparison

The maximum FXN drawdown since its inception was -87.39%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FXN and RAYS.

Drawdown Indicators

	FXN	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-87.39%	0.00%	-87.39%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	—	—
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 Drawdown Current decline from peak	-5.06%	0.00%	-5.06%
Average Drawdown Average peak-to-trough decline	-37.73%	0.00%	-37.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.36%	—	—

Volatility

Volatility by Period

	FXN	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.15%	0.00%	+23.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.71%	0.00%	+28.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.80%	0.00%	+34.80%

FXN vs. RAYS - Expense Ratio Comparison

FXN has a 0.64% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

FXN vs. RAYS - Dividend Comparison

FXN's dividend yield for the trailing twelve months is around 1.63%, while RAYS has not paid dividends to shareholders.

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%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, FXN or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXN or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.64% for FXN.

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

FXN has the higher dividend yield at 1.63%, compared with 0.00% for RAYS.

What is the main difference between FXN and RAYS?

FXN is categorized as Energy Equities, while RAYS is Alternative Energy Equities. FXN tracks StrataQuant Energy Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.64% for FXN and 0.50% for RAYS.