FXU vs. NALFX

Last updated Jun 4, 2026

FXU (First Trust Utilities AlphaDEX Fund) and NALFX (New Alternatives Fund) are both funds - FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index, while NALFX is a Global Equities fund managed by New Alternatives. Over the past 10 years, FXU returned 9.21%/yr vs 10.92%/yr for NALFX. A 0.59 correlation means they provide meaningful diversification when combined. FXU charges 0.62%/yr vs 0.89%/yr for NALFX.

Performance

FXU vs. NALFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Utilities AlphaDEX Fund (FXU) and New Alternatives Fund (NALFX). 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 NALFX's 19.18% return. Over the past 10 years, FXU has underperformed NALFX with an annualized return of 9.21%, while NALFX has yielded a comparatively higher 10.92% annualized 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%

NALFX

• 1D: 1.25%
• 1M: 3.67%
• YTD: 19.18%
• 6M: 20.44%
• 1Y: 32.39%
• 3Y*: 10.98%
• 5Y*: 3.35%
• 10Y*: 10.92%

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

FXU vs. NALFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXU First Trust Utilities AlphaDEX Fund	6.16%	21.86%	22.50%	-2.12%	3.68%	17.67%	1.53%	11.67%	5.43%	0.98%
NALFX New Alternatives Fund	19.18%	28.13%	-6.03%	-2.49%	-15.87%	-4.78%	61.74%	36.98%	-6.91%	21.24%

Correlation

The correlation between FXU and NALFX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.59

The correlation between FXU and NALFX shifts across timeframes, from 0.42 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FXU vs. NALFX — 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

NALFX

NALFX Risk / Return Rank: 64
NALFX Sharpe Ratio Rank: 60
NALFX Sortino Ratio Rank: 52
NALFX Omega Ratio Rank: 50
NALFX Calmar Ratio Rank: 89
NALFX Martin Ratio Rank: 69

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. NALFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Utilities AlphaDEX Fund (FXU) and New Alternatives Fund (NALFX). 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	NALFX	Difference
Sharpe ratio: Return per unit of total volatility	1.02	2.28	-1.25
Sortino ratio: Return per unit of downside risk	1.45	3.04	-1.58
Omega ratio: Gain probability vs. loss probability	1.18	1.39	-0.21
Calmar ratio: Return relative to maximum drawdown	1.56	4.47	-2.91
Martin ratio: Return relative to average drawdown	4.43	13.35	-8.93
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. NALFX - Sharpe Ratio Comparison

The current FXU Sharpe Ratio is 1.02, which is lower than the NALFX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FXU and NALFX, 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	NALFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	2.28	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.19	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.61	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.43	-0.01

Drawdowns

FXU vs. NALFX - Drawdown Comparison

The maximum FXU drawdown since its inception was -49.00%, smaller than the maximum NALFX drawdown of -59.67%. Use the drawdown chart below to compare losses from any high point for FXU and NALFX.

Drawdown Indicators

	FXU	NALFX	Difference
Max Drawdown Largest peak-to-trough decline	-49.00%	-59.67%	+10.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.63%	-7.53%	-1.10%
Max Drawdown (3Y) Largest decline over 3 years	-17.46%	-24.52%	+7.06%
Max Drawdown (5Y) Largest decline over 5 years	-21.87%	-38.03%	+16.16%
Max Drawdown (10Y) Largest decline over 10 years	-34.81%	-42.35%	+7.54%
Current Drawdown Current decline from peak	-7.34%	-0.05%	-7.29%
Average Drawdown Average peak-to-trough decline	-7.64%	-14.84%	+7.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.52%	+0.55%

Volatility

FXU vs. NALFX - Volatility Comparison

The current volatility for First Trust Utilities AlphaDEX Fund (FXU) is 4.65%, while New Alternatives Fund (NALFX) has a volatility of 5.44%. This indicates that FXU experiences smaller price fluctuations and is considered to be less risky than NALFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXU	NALFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	5.44%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	11.93%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	14.79%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	17.82%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	18.03%	+0.30%

FXU vs. NALFX - Expense Ratio Comparison

FXU has a 0.62% expense ratio, which is lower than NALFX's 0.89% expense ratio.

Dividends

FXU vs. NALFX - Dividend Comparison

FXU's dividend yield for the trailing twelve months is around 2.20%, more than NALFX's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
NALFX New Alternatives Fund	0.98%	1.17%	2.04%	4.47%	4.63%	5.14%	4.93%	5.55%	6.62%	4.16%	3.71%	1.71%

Frequently Asked Questions

Can I hold both FXU and NALFX in my portfolio?

FXU and NALFX have a correlation of 0.42, 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 NALFX?

NALFX has higher volatility (5.44%) compared to FXU (4.65%). In terms of maximum drawdown, FXU dropped -49.00% vs NALFX's -59.67%.

Which has better risk-adjusted returns?

NALFX currently has the higher Sharpe Ratio (2.28 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.