IEDI vs. FXD

Last updated Jun 4, 2026

IEDI (iShares Evolved U.S. Discretionary Spending ETF) and FXD (First Trust Consumer Discretionary AlphaDEX Fund) are both Consumer Discretionary Equities funds. IEDI is actively managed, while FXD is passively managed. Over the past 5 years, IEDI returned 6.11%/yr vs 3.00%/yr for FXD. Their correlation of 0.83 suggests significant overlap in exposure. IEDI charges 0.18%/yr vs 0.63%/yr for FXD.

Performance

IEDI vs. FXD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Evolved U.S. Discretionary Spending ETF (IEDI) and First Trust Consumer Discretionary AlphaDEX Fund (FXD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IEDI having a -1.90% return and FXD slightly higher at -1.88%.

IEDI

• 1D: 0.44%
• 1M: -3.26%
• YTD: -1.90%
• 6M: -2.73%
• 1Y: 0.05%
• 3Y*: 13.10%
• 5Y*: 6.11%
• 10Y*: —

FXD

• 1D: -0.39%
• 1M: 2.79%
• YTD: -1.88%
• 6M: -1.26%
• 1Y: 9.00%
• 3Y*: 10.33%
• 5Y*: 3.00%
• 10Y*: 7.89%

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

IEDI vs. FXD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IEDI iShares Evolved U.S. Discretionary Spending ETF	-1.90%	4.05%	22.11%	24.32%	-23.17%	21.19%	29.83%	31.07%	0.71%
FXD First Trust Consumer Discretionary AlphaDEX Fund	-1.88%	6.70%	10.57%	23.39%	-21.56%	22.72%	12.97%	24.22%	-7.25%

Correlation

The correlation between IEDI and FXD is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Mar 26, 2018	0.83

The correlation between IEDI and FXD has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

IEDI vs. FXD - Sectors Allocation Comparison

Sectors	IEDI	FXD
Consumer Cyclical	64.1%	69.7%
Consumer Defensive	24.8%	9.2%
Industrials	3.5%	9.2%
Technology	3.1%	2.5%
Communication Services	2.1%	6.7%
Financial Services	1.9%	-
Real Estate	0.4%	-
Healthcare	0.2%	-
Energy	0.1%	0.8%
Basic Materials	-	-
Utilities	-	-

Return for Risk

IEDI vs. FXD — Risk / Return Rank

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

IEDI

IEDI Risk / Return Rank: 9
IEDI Sharpe Ratio Rank: 9
IEDI Sortino Ratio Rank: 8
IEDI Omega Ratio Rank: 8
IEDI Calmar Ratio Rank: 9
IEDI Martin Ratio Rank: 9

FXD

FXD Risk / Return Rank: 16
FXD Sharpe Ratio Rank: 16
FXD Sortino Ratio Rank: 16
FXD Omega Ratio Rank: 15
FXD Calmar Ratio Rank: 17
FXD Martin Ratio Rank: 17

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.

IEDI vs. FXD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Evolved U.S. Discretionary Spending ETF (IEDI) and First Trust Consumer Discretionary AlphaDEX Fund (FXD). 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.

	IEDI	FXD	Difference
Sharpe ratio: Return per unit of total volatility	0.00	0.47	-0.47
Sortino ratio: Return per unit of downside risk	0.11	0.83	-0.73
Omega ratio: Gain probability vs. loss probability	1.01	1.09	-0.08
Calmar ratio: Return relative to maximum drawdown	0.01	0.65	-0.64
Martin ratio: Return relative to average drawdown	0.01	1.65	-1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEDI vs. FXD - Sharpe Ratio Comparison

The current IEDI Sharpe Ratio is 0.00, which is lower than the FXD Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of IEDI and FXD, 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

	IEDI	FXD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	0.47	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.13	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.31	+0.29

Drawdowns

IEDI vs. FXD - Drawdown Comparison

The maximum IEDI drawdown since its inception was -30.60%, smaller than the maximum FXD drawdown of -65.27%. Use the drawdown chart below to compare losses from any high point for IEDI and FXD.

Drawdown Indicators

	IEDI	FXD	Difference
Max Drawdown Largest peak-to-trough decline	-30.60%	-65.27%	+34.67%
Max Drawdown (1Y) Largest decline over 1 year	-9.44%	-13.94%	+4.50%
Max Drawdown (3Y) Largest decline over 3 years	-18.64%	-26.02%	+7.38%
Max Drawdown (5Y) Largest decline over 5 years	-29.79%	-33.74%	+3.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-49.54%	—
Current Drawdown Current decline from peak	-7.63%	-7.12%	-0.51%
Average Drawdown Average peak-to-trough decline	-6.93%	-10.97%	+4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	5.48%	-1.63%

Volatility

IEDI vs. FXD - Volatility Comparison

The current volatility for iShares Evolved U.S. Discretionary Spending ETF (IEDI) is 3.95%, while First Trust Consumer Discretionary AlphaDEX Fund (FXD) has a volatility of 6.00%. This indicates that IEDI experiences smaller price fluctuations and is considered to be less risky than FXD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEDI	FXD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	6.00%	-2.05%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	14.23%	-4.04%
Volatility (1Y) Calculated over the trailing 1-year period	13.46%	19.21%	-5.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	22.70%	-4.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.45%	23.67%	-4.22%

IEDI vs. FXD - Expense Ratio Comparison

IEDI has a 0.18% expense ratio, which is lower than FXD's 0.63% expense ratio.

Dividends

IEDI vs. FXD - Dividend Comparison

IEDI's dividend yield for the trailing twelve months is around 0.99%, more than FXD's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXD First Trust Consumer Discretionary AlphaDEX Fund	0.78%	0.80%	0.89%	0.70%	1.00%	0.62%	0.42%	0.92%	1.08%	0.93%	1.05%	0.90%
IEDI iShares Evolved U.S. Discretionary Spending ETF	0.99%	0.95%	0.90%	1.13%	3.38%	0.70%	0.83%	2.07%	1.57%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IEDI and FXD in my portfolio?

IEDI and FXD have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IEDI or FXD?

FXD has higher volatility (6.00%) compared to IEDI (3.95%). In terms of maximum drawdown, IEDI dropped -30.60% vs FXD's -65.27%.

Which ETF is better, IEDI or FXD?

On 5-year performance, IEDI leads with 6.11% vs 3.00% for FXD. On fees, IEDI is cheaper at 0.18% per year. On volatility, IEDI has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IEDI or FXD?

Over the 5-year period, IEDI has performed better with a 6.11% return vs 3.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IEDI or FXD?

IEDI is cheaper with a 0.18% expense ratio, compared with 0.63% for FXD.

Which ETF pays a higher dividend yield, IEDI or FXD?

IEDI has the higher dividend yield at 0.99%, compared with 0.78% for FXD.

What is the main difference between IEDI and FXD?

They also come from different issuers: iShares and First Trust. Their fees differ too: 0.18% for IEDI and 0.63% for FXD.

Which has better risk-adjusted returns?

FXD currently has the higher Sharpe Ratio (0.47 vs 0.00), 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.