FXU vs. ECLN

Last updated Jun 4, 2026

FXU (First Trust Utilities AlphaDEX Fund) and ECLN (First Trust EIP Carbon Impact ETF) are both Utilities Equities funds from First Trust. FXU is passively managed, while ECLN is actively managed. Over the past 5 years, FXU returned 11.68%/yr vs 11.85%/yr for ECLN. Their correlation of 0.87 suggests significant overlap in exposure. FXU charges 0.62%/yr vs 0.97%/yr for ECLN.

Performance

FXU vs. ECLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Utilities AlphaDEX Fund (FXU) and First Trust EIP Carbon Impact ETF (ECLN). 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 ECLN's 12.15% 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%

ECLN

• 1D: -0.07%
• 1M: -2.95%
• YTD: 12.15%
• 6M: 10.16%
• 1Y: 19.15%
• 3Y*: 17.15%
• 5Y*: 11.85%
• 10Y*: —

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

FXU vs. ECLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FXU First Trust Utilities AlphaDEX Fund	6.16%	21.86%	22.50%	-2.12%	3.68%	17.67%	1.53%	4.48%
ECLN First Trust EIP Carbon Impact ETF	12.15%	16.78%	22.60%	-3.36%	5.28%	12.26%	8.98%	5.66%

Correlation

The correlation between FXU and ECLN is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Aug 21, 2019	0.87

The correlation between FXU and ECLN has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

FXU vs. ECLN - Sectors Allocation Comparison

Sectors	FXU	ECLN
Utilities	92.0%	76.4%
Industrials	4.2%	6.8%
Energy	3.7%	16.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	0.5%

Return for Risk

FXU vs. ECLN — 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

ECLN

ECLN Risk / Return Rank: 59
ECLN Sharpe Ratio Rank: 53
ECLN Sortino Ratio Rank: 56
ECLN Omega Ratio Rank: 50
ECLN Calmar Ratio Rank: 76
ECLN Martin Ratio Rank: 59

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. ECLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Utilities AlphaDEX Fund (FXU) and First Trust EIP Carbon Impact ETF (ECLN). 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	ECLN	Difference
Sharpe ratio Return per unit of total volatility	1.02	1.83	-0.81
Sortino ratio Return per unit of downside risk	1.45	2.68	-1.23
Omega ratio Gain probability vs. loss probability	1.18	1.32	-0.14
Calmar ratio Return relative to maximum drawdown	1.56	3.83	-2.27
Martin ratio Return relative to average drawdown	4.43	10.36	-5.93
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. ECLN - Sharpe Ratio Comparison

The current FXU Sharpe Ratio is 1.02, which is lower than the ECLN Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FXU and ECLN, 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	ECLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	1.83	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.84	-0.13
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	0.67	-0.26

Drawdowns

FXU vs. ECLN - Drawdown Comparison

The maximum FXU drawdown since its inception was -49.00%, which is greater than ECLN's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for FXU and ECLN.

Drawdown Indicators

	FXU	ECLN	Difference
Max Drawdown Largest peak-to-trough decline	-49.00%	-32.28%	-16.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-5.02%	-3.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	-14.68%	-2.78%
Max Drawdown (5Y) Largest decline over 5 years	-21.87%	-19.88%	-1.99%
Max Drawdown (10Y) Largest decline over 10 years	-34.81%	—	—
Current Drawdown Current decline from peak	-7.34%	-3.65%	-3.69%
Average Drawdown Average peak-to-trough decline	-7.64%	-4.99%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	1.86%	+1.21%

Volatility

FXU vs. ECLN - Volatility Comparison

First Trust Utilities AlphaDEX Fund (FXU) has a higher volatility of 4.65% compared to First Trust EIP Carbon Impact ETF (ECLN) at 3.85%. This indicates that FXU's price experiences larger fluctuations and is considered to be riskier than ECLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXU	ECLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	3.85%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	8.15%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	10.51%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	14.22%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	17.41%	+0.92%

FXU vs. ECLN - Expense Ratio Comparison

FXU has a 0.62% expense ratio, which is lower than ECLN's 0.97% expense ratio.

Dividends

FXU vs. ECLN - Dividend Comparison

FXU's dividend yield for the trailing twelve months is around 2.20%, more than ECLN's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECLN First Trust EIP Carbon Impact ETF	1.83%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%	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 ECLN in my portfolio?

FXU and ECLN have a correlation of 0.89, 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 ECLN?

FXU has higher volatility (4.65%) compared to ECLN (3.85%). In terms of maximum drawdown, FXU dropped -49.00% vs ECLN's -32.28%.

Which ETF is better, FXU or ECLN?

On 5-year performance, ECLN leads with 11.85% vs 11.68% for FXU. On fees, FXU is cheaper at 0.62% per year. On volatility, ECLN has been the lower-risk option at 3.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXU or ECLN?

Over the 5-year period, ECLN has performed better with a 11.85% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXU or ECLN?

FXU is cheaper with a 0.62% expense ratio, compared with 0.97% for ECLN.

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

FXU has the higher dividend yield at 2.20%, compared with 1.83% for ECLN.

What is the main difference between FXU and ECLN?

Their fees differ too: 0.62% for FXU and 0.97% for ECLN.

Which has better risk-adjusted returns?

ECLN currently has the higher Sharpe Ratio (1.83 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.