FXO vs. KCE
Compare and contrast key facts about First Trust Financials AlphaDEX Fund (FXO) and SPDR S&P Capital Markets ETF (KCE).
FXO and KCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXO is a passively managed fund by First Trust that tracks the performance of the StrataQuant Financials Index. It was launched on May 8, 2007. KCE is a passively managed fund by State Street that tracks the performance of the S&P Capital Markets Select Industry Index. It was launched on Nov 8, 2005. Both FXO and KCE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FXO vs. KCE - Performance Comparison
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FXO vs. KCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXO First Trust Financials AlphaDEX Fund | -6.11% | 13.59% | 27.72% | 9.28% | -9.24% | 37.76% | 5.95% | 26.31% | -11.72% | 17.88% |
KCE SPDR S&P Capital Markets ETF | -7.74% | 10.76% | 37.51% | 32.04% | -22.14% | 40.05% | 30.82% | 27.13% | -15.63% | 32.01% |
Returns By Period
In the year-to-date period, FXO achieves a -6.11% return, which is significantly higher than KCE's -7.74% return. Over the past 10 years, FXO has underperformed KCE with an annualized return of 12.05%, while KCE has yielded a comparatively higher 15.87% annualized return.
FXO
- 1D
- 2.29%
- 1M
- -3.88%
- YTD
- -6.11%
- 6M
- -4.03%
- 1Y
- 8.41%
- 3Y*
- 17.53%
- 5Y*
- 8.60%
- 10Y*
- 12.05%
KCE
- 1D
- 2.64%
- 1M
- -4.53%
- YTD
- -7.74%
- 6M
- -9.06%
- 1Y
- 11.03%
- 3Y*
- 20.54%
- 5Y*
- 11.98%
- 10Y*
- 15.87%
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FXO vs. KCE - Expense Ratio Comparison
FXO has a 0.62% expense ratio, which is higher than KCE's 0.35% expense ratio.
Return for Risk
FXO vs. KCE — Risk / Return Rank
FXO
KCE
FXO vs. KCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Financials AlphaDEX Fund (FXO) and SPDR S&P Capital Markets ETF (KCE). 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.
| FXO | KCE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.40 | 0.43 | -0.03 |
Sortino ratioReturn per unit of downside risk | 0.67 | 0.75 | -0.08 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.10 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.63 | 0.66 | -0.03 |
Martin ratioReturn relative to average drawdown | 2.14 | 1.76 | +0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FXO | KCE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.40 | 0.43 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.52 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.69 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.24 | +0.06 |
Correlation
The correlation between FXO and KCE is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FXO vs. KCE - Dividend Comparison
FXO's dividend yield for the trailing twelve months is around 2.30%, more than KCE's 1.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXO First Trust Financials AlphaDEX Fund | 2.30% | 1.78% | 1.97% | 2.98% | 2.49% | 1.91% | 2.60% | 1.72% | 2.60% | 1.62% | 1.35% | 1.51% |
KCE SPDR S&P Capital Markets ETF | 1.87% | 1.63% | 1.56% | 1.82% | 2.42% | 1.53% | 2.20% | 2.32% | 2.67% | 1.95% | 2.30% | 2.43% |
Drawdowns
FXO vs. KCE - Drawdown Comparison
The maximum FXO drawdown since its inception was -71.30%, roughly equal to the maximum KCE drawdown of -74.00%. Use the drawdown chart below to compare losses from any high point for FXO and KCE.
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Drawdown Indicators
| FXO | KCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.30% | -74.00% | +2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.67% | -17.44% | +2.77% |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | -34.45% | +5.65% |
Max Drawdown (10Y)Largest decline over 10 years | -48.55% | -40.78% | -7.77% |
Current DrawdownCurrent decline from peak | -8.92% | -14.34% | +5.42% |
Average DrawdownAverage peak-to-trough decline | -13.20% | -22.94% | +9.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.31% | 6.49% | -2.18% |
Volatility
FXO vs. KCE - Volatility Comparison
The current volatility for First Trust Financials AlphaDEX Fund (FXO) is 4.99%, while SPDR S&P Capital Markets ETF (KCE) has a volatility of 6.33%. This indicates that FXO experiences smaller price fluctuations and is considered to be less risky than KCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FXO | KCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 6.33% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.11% | 15.64% | -3.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.32% | 25.68% | -4.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.03% | 22.97% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.13% | 23.21% | +0.92% |