FXO vs. TFNS

Last updated Jun 24, 2026

FXO (First Trust Financials AlphaDEX Fund) and TFNS (T. Rowe Price Financials ETF) are both Financials Equities funds. FXO is passively managed, while TFNS is actively managed. Over the past year, FXO returned 16.03% vs 11.45% for TFNS. Their correlation of 0.90 suggests significant overlap in exposure. FXO charges 0.62%/yr vs 0.44%/yr for TFNS.

Performance

FXO vs. TFNS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Financials AlphaDEX Fund (FXO) and T. Rowe Price Financials ETF (TFNS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXO achieves a 3.78% return, which is significantly higher than TFNS's 0.45% return.

FXO

• 1D: 1.06%
• 1M: 4.51%
• YTD: 3.78%
• 6M: 1.91%
• 1Y: 16.03%
• 3Y*: 22.20%
• 5Y*: 9.91%
• 10Y*: 13.32%

TFNS

• 1D: 0.34%
• 1M: 4.00%
• YTD: 0.45%
• 6M: -0.86%
• 1Y: 11.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FXO vs. TFNS - Yearly Performance Comparison

	2026 (YTD)	2025
FXO First Trust Financials AlphaDEX Fund	3.78%	13.37%
TFNS T. Rowe Price Financials ETF	0.45%	11.06%

Correlation

The correlation between FXO and TFNS is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.90

The correlation between FXO and TFNS has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

FXO vs. TFNS - Sectors Allocation Comparison

Sectors	FXO	TFNS
Financial Services	94.5%	96.9%
Real Estate	5.0%	-
Technology	0.6%	2.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	1.1%
Utilities	-	-

Return for Risk

FXO vs. TFNS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXO

FXO Risk / Return Rank: 29
FXO Sharpe Ratio Rank: 30
FXO Sortino Ratio Rank: 28
FXO Omega Ratio Rank: 28
FXO Calmar Ratio Rank: 29
FXO Martin Ratio Rank: 30

TFNS

TFNS Risk / Return Rank: 21
TFNS Sharpe Ratio Rank: 23
TFNS Sortino Ratio Rank: 21
TFNS Omega Ratio Rank: 21
TFNS Calmar Ratio Rank: 20
TFNS Martin Ratio Rank: 20

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.

FXO vs. TFNS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Financials AlphaDEX Fund (FXO) and T. Rowe Price Financials ETF (TFNS). 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.

	FXO	TFNS	Difference
Sharpe ratio: Return per unit of total volatility	1.03	0.77	+0.26
Sortino ratio: Return per unit of downside risk	1.47	1.12	+0.35
Omega ratio: Gain probability vs. loss probability	1.18	1.14	+0.04
Calmar ratio: Return relative to maximum drawdown	1.37	0.82	+0.55
Martin ratio: Return relative to average drawdown	4.09	2.21	+1.88

FXO vs. TFNS - Sharpe Ratio Comparison

The current FXO Sharpe Ratio is 1.03, which is higher than the TFNS Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of FXO and TFNS, 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

FXO vs. TFNS - Drawdown Comparison

The maximum FXO drawdown since its inception was -71.30%, which is greater than TFNS's maximum drawdown of -14.00%. Use the drawdown chart below to compare losses from any high point for FXO and TFNS.

Drawdown Indicators

	FXO	TFNS	Difference
Max Drawdown Largest peak-to-trough decline	-71.30%	-14.00%	-57.30%
Max Drawdown (1Y) Largest decline over 1 year	-11.72%	-14.00%	+2.28%
Max Drawdown (3Y) Largest decline over 3 years	-21.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.55%	—	—
Current Drawdown Current decline from peak	0.00%	-2.36%	+2.36%
Average Drawdown Average peak-to-trough decline	-13.08%	-3.82%	-9.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	5.19%	-1.26%

Volatility

FXO vs. TFNS - Volatility Comparison

First Trust Financials AlphaDEX Fund (FXO) and T. Rowe Price Financials ETF (TFNS) have volatilities of 4.02% and 4.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXO	TFNS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	4.03%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.03%	11.45%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.66%	15.00%	+0.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	15.06%	+6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.09%	15.06%	+9.03%

FXO vs. TFNS - Expense Ratio Comparison

FXO has a 0.62% expense ratio, which is higher than TFNS's 0.44% expense ratio.

Dividends

FXO vs. TFNS - Dividend Comparison

FXO's dividend yield for the trailing twelve months is around 2.08%, more than TFNS's 0.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXO First Trust Financials AlphaDEX Fund	2.08%	1.78%	1.97%	2.98%	2.49%	1.91%	2.60%	1.72%	2.60%	1.62%	1.35%	1.51%
TFNS T. Rowe Price Financials ETF	0.49%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FXO and TFNS in my portfolio?

With a correlation of 0.91, FXO and TFNS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FXO or TFNS?

TFNS has higher volatility (4.03%) compared to FXO (4.02%). In terms of maximum drawdown, FXO dropped -71.30% vs TFNS's -14.00%.

Which ETF is better, FXO or TFNS?

On 1-year performance, FXO leads with 16.03% vs 11.45% for TFNS. On fees, TFNS is cheaper at 0.44% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXO or TFNS?

Over the 1-year period, FXO has performed better with a 16.03% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXO or TFNS?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.62% for FXO.

Which ETF pays a higher dividend yield, FXO or TFNS?

FXO has the higher dividend yield at 2.08%, compared with 0.49% for TFNS.

What is the main difference between FXO and TFNS?

They also come from different issuers: First Trust and T. Rowe Price. Their fees differ too: 0.62% for FXO and 0.44% for TFNS.

Which has better risk-adjusted returns?

FXO currently has the higher Sharpe Ratio (1.03 vs 0.77), 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.