FXZ vs. DVXB

Last updated Jun 24, 2026

FXZ (First Trust Materials AlphaDEX Fund) and DVXB (WEBs Materials XLB Defined Volatility ETF) are both Materials funds - FXZ tracks the StrataQuant Materials Index while DVXB tracks the Syntax Defined Volatility XLB Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. FXZ charges 0.67%/yr vs 0.89%/yr for DVXB.

Performance

FXZ vs. DVXB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Materials AlphaDEX Fund (FXZ) and WEBs Materials XLB Defined Volatility ETF (DVXB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXZ achieves a 24.42% return, which is significantly higher than DVXB's 16.95% return.

FXZ

• 1D: -2.45%
• 1M: 0.61%
• YTD: 24.42%
• 6M: 22.36%
• 1Y: 44.84%
• 3Y*: 11.20%
• 5Y*: 8.66%
• 10Y*: 11.46%

DVXB

• 1D: -1.98%
• 1M: 1.22%
• YTD: 16.95%
• 6M: 14.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FXZ vs. DVXB - Yearly Performance Comparison

	2026 (YTD)	2025
FXZ First Trust Materials AlphaDEX Fund	24.42%	7.14%
DVXB WEBs Materials XLB Defined Volatility ETF	16.95%	-6.27%

Correlation

The correlation between FXZ and DVXB 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 (All Time) Calculated using the full available price history since Jul 23, 2025	0.91

Return for Risk

FXZ vs. DVXB — Risk / Return Rank

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

FXZ

FXZ Risk / Return Rank: 66
FXZ Sharpe Ratio Rank: 64
FXZ Sortino Ratio Rank: 61
FXZ Omega Ratio Rank: 57
FXZ Calmar Ratio Rank: 74
FXZ Martin Ratio Rank: 73

DVXB

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FXZ vs. DVXB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Materials AlphaDEX Fund (FXZ) and WEBs Materials XLB Defined Volatility ETF (DVXB). 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.

	FXZ	DVXB	Difference
Sharpe ratio: Return per unit of total volatility	1.98	—	—
Sortino ratio: Return per unit of downside risk	2.68	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	3.53	—	—
Martin ratio: Return relative to average drawdown	13.08	—	—

Drawdowns

FXZ vs. DVXB - Drawdown Comparison

The maximum FXZ drawdown since its inception was -65.46%, which is greater than DVXB's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for FXZ and DVXB.

Drawdown Indicators

	FXZ	DVXB	Difference
Max Drawdown Largest peak-to-trough decline	-65.46%	-19.77%	-45.69%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-33.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.41%	—	—
Current Drawdown Current decline from peak	-5.23%	-11.39%	+6.16%
Average Drawdown Average peak-to-trough decline	-11.33%	-7.10%	-4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	—	—

Volatility

Volatility by Period

	FXZ	DVXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	30.80%	-8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.19%	30.80%	-6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.93%	30.80%	-5.87%

FXZ vs. DVXB - Expense Ratio Comparison

FXZ has a 0.67% expense ratio, which is lower than DVXB's 0.89% expense ratio.

Dividends

FXZ vs. DVXB - Dividend Comparison

FXZ's dividend yield for the trailing twelve months is around 1.44%, while DVXB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXB WEBs Materials XLB Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXZ First Trust Materials AlphaDEX Fund	1.44%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%

Frequently Asked Questions

Can I hold both FXZ and DVXB in my portfolio?

With a correlation of 0.91, FXZ and DVXB 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 ETF is better, FXZ or DVXB?

On fees, FXZ is cheaper at 0.67% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FXZ or DVXB?

FXZ is cheaper with a 0.67% expense ratio, compared with 0.89% for DVXB.

Which ETF pays a higher dividend yield, FXZ or DVXB?

FXZ has the higher dividend yield at 1.44%, compared with 0.00% for DVXB.

What is the main difference between FXZ and DVXB?

FXZ tracks StrataQuant Materials Index, while DVXB tracks Syntax Defined Volatility XLB Index. They also come from different issuers: First Trust and WEBs. Their fees differ too: 0.67% for FXZ and 0.89% for DVXB.