GREK vs. FDT

Last updated Jun 13, 2026

GREK (Global X MSCI Greece ETF) and FDT (First Trust Developed Markets ex-US AlphaDEX Fund) are both exchange-traded funds - GREK is a Emerging Markets Equities fund tracking the MSCI All Greece Select 25-50, while FDT is a Foreign Large Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Index. Both are passively managed. Over the past 10 years, GREK returned 16.01%/yr vs 11.17%/yr for FDT. A 0.55 correlation means they provide meaningful diversification when combined. GREK charges 0.58%/yr vs 0.80%/yr for FDT.

Performance

GREK vs. FDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Greece ETF (GREK) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GREK achieves a 15.45% return, which is significantly lower than FDT's 23.23% return. Over the past 10 years, GREK has outperformed FDT with an annualized return of 16.01%, while FDT has yielded a comparatively lower 11.17% annualized return.

GREK

• 1D: 0.87%
• 1M: 4.95%
• YTD: 15.45%
• 6M: 15.54%
• 1Y: 40.83%
• 3Y*: 32.67%
• 5Y*: 24.30%
• 10Y*: 16.01%

FDT

• 1D: 0.21%
• 1M: -1.96%
• YTD: 23.23%
• 6M: 24.33%
• 1Y: 50.01%
• 3Y*: 27.84%
• 5Y*: 12.16%
• 10Y*: 11.17%

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

GREK vs. FDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GREK Global X MSCI Greece ETF	15.45%	76.11%	9.53%	42.72%	3.64%	6.14%	-13.89%	50.20%	-31.25%	34.80%
FDT First Trust Developed Markets ex-US AlphaDEX Fund	23.23%	52.21%	6.97%	15.03%	-19.51%	11.43%	4.29%	16.82%	-19.98%	34.42%

Correlation

The correlation between GREK and FDT is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 8, 2011	0.55

The correlation between GREK and FDT has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.

GREK vs. FDT - Sectors Allocation Comparison

Sectors	GREK	FDT
Financial Services	47.1%	10.2%
Industrials	13.5%	34.0%
Utilities	11.6%	5.2%
Consumer Cyclical	9.6%	11.5%
Energy	8.4%	9.2%
Communication Services	4.6%	2.7%
Basic Materials	3.2%	9.6%
Consumer Defensive	1.1%	2.8%
Real Estate	1.0%	5.3%
Healthcare	-	1.4%
Technology	-	8.1%

Return for Risk

GREK vs. FDT — Risk / Return Rank

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

GREK

GREK Risk / Return Rank: 49
GREK Sharpe Ratio Rank: 54
GREK Sortino Ratio Rank: 57
GREK Omega Ratio Rank: 51
GREK Calmar Ratio Rank: 41
GREK Martin Ratio Rank: 40

FDT

FDT Risk / Return Rank: 84
FDT Sharpe Ratio Rank: 88
FDT Sortino Ratio Rank: 84
FDT Omega Ratio Rank: 86
FDT Calmar Ratio Rank: 80
FDT Martin Ratio Rank: 82

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.

GREK vs. FDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Greece ETF (GREK) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). 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.

	GREK	FDT	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.54	-0.94
Sortino ratio: Return per unit of downside risk	2.38	3.27	-0.89
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	1.82	3.70	-1.88
Martin ratio: Return relative to average drawdown	5.62	14.01	-8.39

GREK vs. FDT - Sharpe Ratio Comparison

The current GREK Sharpe Ratio is 1.59, which is lower than the FDT Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of GREK and FDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GREK vs. FDT - Drawdown Comparison

The maximum GREK drawdown since its inception was -79.50%, which is greater than FDT's maximum drawdown of -46.10%. Use the drawdown chart below to compare losses from any high point for GREK and FDT.

Drawdown Indicators

	GREK	FDT	Difference
Max Drawdown Largest peak-to-trough decline	-79.50%	-46.10%	-33.40%
Max Drawdown (1Y) Largest decline over 1 year	-21.32%	-13.41%	-7.91%
Max Drawdown (3Y) Largest decline over 3 years	-22.63%	-14.29%	-8.34%
Max Drawdown (5Y) Largest decline over 5 years	-30.46%	-32.80%	+2.34%
Max Drawdown (10Y) Largest decline over 10 years	-57.04%	-46.10%	-10.94%
Current Drawdown Current decline from peak	-1.44%	-3.37%	+1.93%
Average Drawdown Average peak-to-trough decline	-45.25%	-10.76%	-34.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	3.54%	+3.36%

Volatility

GREK vs. FDT - Volatility Comparison

Global X MSCI Greece ETF (GREK) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT) have volatilities of 8.69% and 8.93%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GREK	FDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.69%	8.93%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	20.65%	17.27%	+3.38%
Volatility (1Y) Calculated over the trailing 1-year period	24.35%	19.59%	+4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.44%	18.46%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.71%	18.62%	+11.09%

GREK vs. FDT - Expense Ratio Comparison

GREK has a 0.58% expense ratio, which is lower than FDT's 0.80% expense ratio.

Dividends

GREK vs. FDT - Dividend Comparison

GREK's dividend yield for the trailing twelve months is around 3.00%, more than FDT's 2.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.89%	3.27%	3.89%	4.36%	2.29%	3.80%	2.42%	2.78%	2.13%	1.57%	1.76%	1.83%
GREK Global X MSCI Greece ETF	3.00%	3.46%	4.63%	2.61%	2.82%	2.16%	2.62%	2.25%	2.41%	2.13%	1.95%	1.52%

Frequently Asked Questions

Can I hold both GREK and FDT in my portfolio?

GREK and FDT have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GREK or FDT?

FDT has higher volatility (8.93%) compared to GREK (8.69%). In terms of maximum drawdown, GREK dropped -79.50% vs FDT's -46.10%.

Which ETF is better, GREK or FDT?

On 10-year performance, GREK leads with 16.01% vs 11.17% for FDT. On fees, GREK is cheaper at 0.58% per year. On volatility, GREK has been the lower-risk option at 8.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GREK or FDT?

Over the 10-year period, GREK has performed better with a 16.01% return vs 11.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GREK or FDT?

GREK is cheaper with a 0.58% expense ratio, compared with 0.80% for FDT.

Which ETF pays a higher dividend yield, GREK or FDT?

GREK has the higher dividend yield at 3.00%, compared with 2.89% for FDT.

What is the main difference between GREK and FDT?

GREK is categorized as Emerging Markets Equities, while FDT is Foreign Large Cap Equities. GREK tracks MSCI All Greece Select 25-50, while FDT tracks NASDAQ AlphaDEX DM Ex-US Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.58% for GREK and 0.80% for FDT.

Which has better risk-adjusted returns?

FDT currently has the higher Sharpe Ratio (2.54 vs 1.59), 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.