FXU vs. BKGI

Last updated Jun 4, 2026

FXU (First Trust Utilities AlphaDEX Fund) and BKGI (Bny Mellon Global Infrastructure Income ETF) are both exchange-traded funds - FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index, while BKGI is a Energy Equities fund actively managed by BNY Mellon. FXU is passively managed, while BKGI is actively managed. Over the past 3 years, FXU returned 17.52%/yr vs 22.14%/yr for BKGI. A 0.71 correlation means they provide meaningful diversification when combined. FXU charges 0.62%/yr vs 0.65%/yr for BKGI.

Performance

FXU vs. BKGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Utilities AlphaDEX Fund (FXU) and Bny Mellon Global Infrastructure Income ETF (BKGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXU achieves a 6.16% return, which is significantly lower than BKGI's 12.20% return.

FXU

• 1D: -0.04%
• 1M: -3.16%
• YTD: 6.16%
• 6M: 5.04%
• 1Y: 13.42%
• 3Y*: 17.52%
• 5Y*: 11.68%
• 10Y*: 9.21%

BKGI

• 1D: -0.43%
• 1M: 0.13%
• YTD: 12.20%
• 6M: 12.27%
• 1Y: 21.78%
• 3Y*: 22.14%
• 5Y*: —
• 10Y*: —

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

FXU vs. BKGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FXU First Trust Utilities AlphaDEX Fund	6.16%	21.86%	22.50%	-2.12%	5.01%
BKGI Bny Mellon Global Infrastructure Income ETF	12.20%	37.53%	12.35%	9.72%	8.54%

Correlation

The correlation between FXU and BKGI is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	0.71

The correlation between FXU and BKGI has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

FXU vs. BKGI - Sectors Allocation Comparison

Sectors	FXU	BKGI
Utilities	92.0%	49.3%
Industrials	4.2%	14.0%
Energy	3.7%	21.6%
Basic Materials	-	-
Communication Services	-	3.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	11.5%
Technology	-	-

Return for Risk

FXU vs. BKGI — Risk / Return Rank

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

FXU

FXU Risk / Return Rank: 28
FXU Sharpe Ratio Rank: 28
FXU Sortino Ratio Rank: 26
FXU Omega Ratio Rank: 26
FXU Calmar Ratio Rank: 32
FXU Martin Ratio Rank: 30

BKGI

BKGI Risk / Return Rank: 59
BKGI Sharpe Ratio Rank: 54
BKGI Sortino Ratio Rank: 54
BKGI Omega Ratio Rank: 55
BKGI Calmar Ratio Rank: 70
BKGI Martin Ratio Rank: 64

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.

FXU vs. BKGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Utilities AlphaDEX Fund (FXU) and Bny Mellon Global Infrastructure Income ETF (BKGI). 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.

	FXU	BKGI	Difference
Sharpe ratio Return per unit of total volatility	1.02	1.89	-0.87
Sortino ratio Return per unit of downside risk	1.45	2.63	-1.18
Omega ratio Gain probability vs. loss probability	1.18	1.34	-0.17
Calmar ratio Return relative to maximum drawdown	1.56	3.55	-1.99
Martin ratio Return relative to average drawdown	4.43	11.67	-7.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXU vs. BKGI - Sharpe Ratio Comparison

The current FXU Sharpe Ratio is 1.02, which is lower than the BKGI Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FXU and BKGI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FXU	BKGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.89	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.61	-1.19

Drawdowns

FXU vs. BKGI - Drawdown Comparison

The maximum FXU drawdown since its inception was -49.00%, which is greater than BKGI's maximum drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for FXU and BKGI.

Drawdown Indicators

	FXU	BKGI	Difference
Max Drawdown Largest peak-to-trough decline	-49.00%	-14.79%	-34.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-6.16%	-2.47%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	-14.16%	-3.30%
Max Drawdown (5Y) Largest decline over 5 years	-21.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.81%	—	—
Current Drawdown Current decline from peak	-7.34%	-3.14%	-4.20%
Average Drawdown Average peak-to-trough decline	-7.64%	-2.57%	-5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	1.87%	+1.20%

Volatility

FXU vs. BKGI - Volatility Comparison

First Trust Utilities AlphaDEX Fund (FXU) has a higher volatility of 4.65% compared to Bny Mellon Global Infrastructure Income ETF (BKGI) at 4.17%. This indicates that FXU's price experiences larger fluctuations and is considered to be riskier than BKGI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXU	BKGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	4.17%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	9.04%	+1.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	11.59%	+1.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	14.07%	+2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	14.07%	+4.26%

FXU vs. BKGI - Expense Ratio Comparison

FXU has a 0.62% expense ratio, which is lower than BKGI's 0.65% expense ratio.

Dividends

FXU vs. BKGI - Dividend Comparison

FXU's dividend yield for the trailing twelve months is around 2.20%, less than BKGI's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKGI Bny Mellon Global Infrastructure Income ETF	2.69%	2.65%	4.55%	4.55%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXU First Trust Utilities AlphaDEX Fund	2.20%	2.29%	2.41%	2.52%	2.03%	2.00%	3.97%	2.34%	2.40%	3.81%	2.62%	3.90%

Frequently Asked Questions

Can I hold both FXU and BKGI in my portfolio?

FXU and BKGI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXU or BKGI?

FXU has higher volatility (4.65%) compared to BKGI (4.17%). In terms of maximum drawdown, FXU dropped -49.00% vs BKGI's -14.79%.

Which ETF is better, FXU or BKGI?

On 3-year performance, BKGI leads with 22.14% vs 17.52% for FXU. On fees, FXU is cheaper at 0.62% per year. On volatility, BKGI has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXU or BKGI?

Over the 3-year period, BKGI has performed better with a 22.14% return vs 17.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXU or BKGI?

FXU is cheaper with a 0.62% expense ratio, compared with 0.65% for BKGI.

Which ETF pays a higher dividend yield, FXU or BKGI?

BKGI has the higher dividend yield at 2.69%, compared with 2.20% for FXU.

What is the main difference between FXU and BKGI?

FXU is categorized as Utilities Equities, while BKGI is Energy Equities. They also come from different issuers: First Trust and BNY Mellon. Their fees differ too: 0.62% for FXU and 0.65% for BKGI.

Which has better risk-adjusted returns?

BKGI currently has the higher Sharpe Ratio (1.89 vs 1.02), 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.