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FXU vs. KWT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FXU vs. KWT

Last updated Jun 13, 2026

FXU (First Trust Utilities AlphaDEX Fund) and KWT (iShares MSCI Kuwait ETF) are both exchange-traded funds - FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index, while KWT is a Financials Equities fund tracking the MSCI All Kuwait Select Size Liquidity Capped Index. Both are passively managed. Over the past 5 years, FXU returned 11.71%/yr vs 9.21%/yr for KWT. At a 0.19 correlation, their price movements are largely independent. FXU charges 0.62%/yr vs 0.74%/yr for KWT.

Performance

FXU vs. KWT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Utilities AlphaDEX Fund (FXU) and iShares MSCI Kuwait ETF (KWT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FXU achieves a 8.19% return, which is significantly higher than KWT's -0.12% return.

FXU

1D
0.87%
1M
0.66%
YTD
8.19%
6M
8.80%
1Y
17.67%
3Y*
17.64%
5Y*
11.71%
10Y*
9.38%

KWT

1D
0.30%
1M
0.39%
YTD
-0.12%
6M
-2.87%
1Y
9.71%
3Y*
10.80%
5Y*
9.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FXU vs. KWT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
FXU
First Trust Utilities AlphaDEX Fund		8.19%21.86%22.50%-2.12%3.68%17.67%5.96%
KWT
iShares MSCI Kuwait ETF		-0.12%25.38%11.29%-4.71%5.16%30.73%7.37%

Correlation

The correlation between FXU and KWT is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.00

Correlation (3Y)
Calculated over the trailing 3-year period

0.17

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Sep 3, 2020

0.19

The correlation between FXU and KWT shifts across timeframes, from -0.00 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

FXU vs. KWT - Sectors Allocation Comparison

Sectors
FXU
KWT

Utilities

92.0%
1.0%

Industrials

4.2%
10.8%

Energy

3.7%

-

Basic Materials

-

1.6%

Communication Services

-

6.3%

Consumer Cyclical

-

2.2%

Consumer Defensive

-

2.7%

Financial Services

-

64.4%

Healthcare

-

-

Real Estate

-

11.0%

Technology

-

-

Utilities

FXU
92.0%
KWT
1.0%

Industrials

FXU
4.2%
KWT
10.8%

Energy

FXU
3.7%
KWT

-

Basic Materials

FXU

-

KWT
1.6%

Communication Services

FXU

-

KWT
6.3%

Consumer Cyclical

FXU

-

KWT
2.2%

Consumer Defensive

FXU

-

KWT
2.7%

Financial Services

FXU

-

KWT
64.4%

Healthcare

FXU

-

KWT

-

Real Estate

FXU

-

KWT
11.0%

Technology

FXU

-

KWT

-

Compare stocks, funds, or ETFs

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First Trust Utilities AlphaDEX Fund

iShares MSCI Kuwait ETF

Often compared with FXU:
FXU vs. UTESFXU vs. XLUFXU vs. VPUFXU vs. IDUFXU vs. JXIFXU vs. PUIFXU vs. VOO
Often compared with KWT:
KWT vs. FLSAKWT vs. RAYSKWT vs. TANKWT vs. VOOKWT vs. SPYKWT vs. ESPOKWT vs. SCHD

Return for Risk

FXU vs. KWT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXU
FXU Risk / Return Rank: 3939
Overall Rank
FXU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
FXU Sortino Ratio Rank: 3737
Sortino Ratio Rank
FXU Omega Ratio Rank: 3636
Omega Ratio Rank
FXU Calmar Ratio Rank: 4444
Calmar Ratio Rank
FXU Martin Ratio Rank: 3737
Martin Ratio Rank
KWT
KWT Risk / Return Rank: 1818
Overall Rank
KWT Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
KWT Sortino Ratio Rank: 1818
Sortino Ratio Rank
KWT Omega Ratio Rank: 2020
Omega Ratio Rank
KWT Calmar Ratio Rank: 1818
Calmar Ratio Rank
KWT Martin Ratio Rank: 1717
Martin Ratio Rank
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. KWT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Utilities AlphaDEX Fund (FXU) and iShares MSCI Kuwait ETF (KWT). 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.

FXUKWTDifference
Sharpe ratioReturn per unit of total volatility
1.26
0.54

+0.71

Sortino ratioReturn per unit of downside risk
1.75
0.86

+0.89

Omega ratioGain probability vs. loss probability

1.21

1.12

+0.10

Calmar ratioReturn relative to maximum drawdown

1.93

0.65

+1.28

Martin ratioReturn relative to average drawdown

5.17

1.53

+3.64

FXU vs. KWT - Sharpe Ratio Comparison

The current FXU Sharpe Ratio is 1.26, which is higher than the KWT Sharpe Ratio of 0.54. The chart below compares the historical Sharpe Ratios of FXU and KWT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FXU vs. KWT - Drawdown Comparison

The maximum FXU drawdown since its inception was -49.00%, which is greater than KWT's maximum drawdown of -24.37%. Use the drawdown chart below to compare losses from any high point for FXU and KWT.

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Drawdown Indicators

FXUKWTDifference

Max Drawdown

Largest peak-to-trough decline

-49.00%

-24.37%

-24.63%

Max Drawdown (1Y)

Largest decline over 1 year

-8.63%

-11.54%

+2.91%

Max Drawdown (3Y)

Largest decline over 3 years

-17.46%

-15.72%

-1.74%

Max Drawdown (5Y)

Largest decline over 5 years

-21.87%

-24.37%

+2.50%

Max Drawdown (10Y)

Largest decline over 10 years

-34.81%

—

—

Current Drawdown

Current decline from peak

-5.57%

-4.95%

-0.62%

Average Drawdown

Average peak-to-trough decline

-7.63%

-7.30%

-0.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

4.93%

-1.71%

Volatility

FXU vs. KWT - Volatility Comparison

First Trust Utilities AlphaDEX Fund (FXU) has a higher volatility of 5.01% compared to iShares MSCI Kuwait ETF (KWT) at 3.76%. This indicates that FXU's price experiences larger fluctuations and is considered to be riskier than KWT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FXUKWTDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.01%

3.76%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

10.33%

11.79%

-1.46%

Volatility (1Y)

Calculated over the trailing 1-year period

13.30%

13.85%

-0.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.61%

13.64%

+2.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.34%

13.94%

+4.40%

FXU vs. KWT - Expense Ratio Comparison

FXU has a 0.62% expense ratio, which is lower than KWT's 0.74% expense ratio.

Dividends

FXU vs. KWT - Dividend Comparison

FXU's dividend yield for the trailing twelve months is around 2.16%, less than KWT's 5.41% yield.

PositionTTM20252024202320222021202020192018201720162015
FXU
First Trust Utilities AlphaDEX Fund		2.16%2.29%2.41%2.52%2.03%2.00%3.97%2.34%2.40%3.81%2.62%3.90%
KWT
iShares MSCI Kuwait ETF		5.41%5.40%6.09%2.25%5.87%7.65%0.27%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FXU and KWT have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FXU has higher volatility (5.01%) compared to KWT (3.76%). In terms of maximum drawdown, FXU dropped -49.00% vs KWT's -24.37%.

On 5-year performance, FXU leads with 11.71% vs 9.21% for KWT. On fees, FXU is cheaper at 0.62% per year. On volatility, KWT has been the lower-risk option at 3.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FXU has performed better with a 11.71% return vs 9.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FXU is cheaper with a 0.62% expense ratio, compared with 0.74% for KWT.

KWT has the higher dividend yield at 5.41%, compared with 2.16% for FXU.

FXU is categorized as Utilities Equities, while KWT is Financials Equities. FXU tracks StrataQuant Utilities Index, while KWT tracks MSCI All Kuwait Select Size Liquidity Capped Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.62% for FXU and 0.74% for KWT.

FXU currently has the higher Sharpe Ratio (1.26 vs 0.54), 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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