FXN vs. TPZ
FXN (First Trust Energy AlphaDEX Fund) and TPZ (Tortoise Electrification Infrastructure ETF) are both Energy Equities funds. FXN is passively managed, while TPZ is actively managed. Over the past 10 years, FXN returned 5.85%/yr vs 8.62%/yr for TPZ. A 0.52 correlation means they provide meaningful diversification when combined. FXN charges 0.64%/yr vs 0.85%/yr for TPZ.
Performance
FXN vs. TPZ - Performance Comparison
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Returns By Period
In the year-to-date period, FXN achieves a 28.98% return, which is significantly higher than TPZ's 10.28% return. Over the past 10 years, FXN has underperformed TPZ with an annualized return of 5.85%, while TPZ has yielded a comparatively higher 8.62% annualized return.
FXN
- 1D
- 0.43%
- 1M
- 2.29%
- 6M
- 24.59%
- YTD
- 28.98%
- 1Y
- 41.26%
- 3Y*
- 12.41%
- 5Y*
- 18.52%
- 10Y*
- 5.85%
TPZ
- 1D
- 0.03%
- 1M
- 2.16%
- 6M
- 7.44%
- YTD
- 10.28%
- 1Y
- 13.35%
- 3Y*
- 25.21%
- 5Y*
- 18.00%
- 10Y*
- 8.62%
FXN vs. TPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 28.98% | 3.39% | 0.27% | 0.97% | 46.92% | 51.79% | -19.91% | -6.76% | -24.79% | -5.02% |
TPZ Tortoise Electrification Infrastructure ETF | 10.28% | 5.67% | 53.88% | 20.72% | 2.44% | 29.31% | -27.84% | 15.61% | -16.12% | -0.30% |
Correlation
The correlation between FXN and TPZ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jul 29, 2009 | 0.52 |
Over the past year, the correlation between FXN and TPZ has dropped to 0.30 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
FXN vs. TPZ — Risk / Return Rank
FXN
TPZ
FXN vs. TPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Energy AlphaDEX Fund (FXN) and Tortoise Electrification Infrastructure ETF (TPZ). 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 | TPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.17 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.13 | +0.96 |
| Martin ratioReturn relative to average drawdown | 7.78 | 4.70 | +3.08 |
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Drawdowns
FXN vs. TPZ - Drawdown Comparison
The maximum FXN drawdown since its inception was -87.39%, which is greater than TPZ's maximum drawdown of -78.17%. Use the drawdown chart below to compare losses from any high point for FXN and TPZ.
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Drawdown Indicators
| FXN | TPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.39% | -78.17% | -9.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -6.29% | -7.12% |
Max Drawdown (3Y)Largest decline over 3 years | -31.69% | -17.78% | -13.91% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -17.78% | -13.91% |
Max Drawdown (10Y)Largest decline over 10 years | -80.63% | -77.04% | -3.59% |
Current DrawdownCurrent decline from peak | -8.70% | -2.59% | -6.11% |
Average DrawdownAverage peak-to-trough decline | -37.81% | -11.88% | -25.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.31% | 2.84% | +2.47% |
Volatility
FXN vs. TPZ - Volatility Comparison
First Trust Energy AlphaDEX Fund (FXN) has a higher volatility of 5.44% compared to Tortoise Electrification Infrastructure ETF (TPZ) at 3.91%. This indicates that FXN's price experiences larger fluctuations and is considered to be riskier than TPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXN | TPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 3.91% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 16.98% | 10.78% | +6.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.23% | 13.76% | +9.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.80% | 17.69% | +11.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.82% | 27.70% | +7.12% |
FXN vs. TPZ - Expense Ratio Comparison
FXN has a 0.64% expense ratio, which is lower than TPZ's 0.85% expense ratio.
Dividends
FXN vs. TPZ - Dividend Comparison
FXN's dividend yield for the trailing twelve months is around 1.70%, less than TPZ's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXN First Trust Energy AlphaDEX Fund | 1.70% | 2.53% | 2.50% | 3.09% | 2.28% | 0.87% | 4.71% | 1.47% | 1.43% | 1.17% | 1.05% | 2.36% |
TPZ Tortoise Electrification Infrastructure ETF | 3.69% | 3.99% | 5.88% | 8.99% | 9.52% | 4.77% | 8.80% | 8.84% | 9.41% | 7.28% | 6.88% | 9.68% |
Frequently Asked Questions
FXN and TPZ have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXN has higher volatility (5.44%) compared to TPZ (3.91%). In terms of maximum drawdown, FXN dropped -87.39% vs TPZ's -78.17%.
On 10-year performance, TPZ leads with 8.62% vs 5.85% for FXN. On fees, FXN is cheaper at 0.64% per year. On volatility, TPZ has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, TPZ has performed better with a 8.62% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXN is cheaper with a 0.64% expense ratio, compared with 0.85% for TPZ.
TPZ has the higher dividend yield at 3.69%, compared with 1.70% for FXN.
They also come from different issuers: First Trust and Tortoise. Their fees differ too: 0.64% for FXN and 0.85% for TPZ.
FXN currently has the higher Sharpe Ratio (1.79 vs 0.97), 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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