ISUS.L vs. FEX.L
ISUS.L (iShares MSCI USA Islamic UCITS ETF USD (Dist)) and FEX.L (First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD) are both Large Cap Blend Equities funds - ISUS.L tracks the MSCI US Islamic Gross Index in USD (NET) while FEX.L tracks the Russell 1000 TR USD. Both are passively managed. Over the past 10 years, ISUS.L returned 11.08%/yr vs 12.11%/yr for FEX.L. Their correlation of 0.88 suggests significant overlap in exposure. ISUS.L charges 0.30%/yr vs 0.75%/yr for FEX.L.
Performance
ISUS.L vs. FEX.L - Performance Comparison
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Returns By Period
In the year-to-date period, ISUS.L achieves a 15.18% return, which is significantly higher than FEX.L's 13.84% return. Over the past 10 years, ISUS.L has underperformed FEX.L with an annualized return of 11.08%, while FEX.L has yielded a comparatively higher 12.11% annualized return.
ISUS.L
- 1D
- -1.12%
- 1M
- -4.93%
- 6M
- 12.13%
- YTD
- 15.18%
- 1Y
- 26.94%
- 3Y*
- 14.18%
- 5Y*
- 13.20%
- 10Y*
- 11.08%
FEX.L
- 1D
- 0.04%
- 1M
- -2.62%
- 6M
- 9.66%
- YTD
- 13.84%
- 1Y
- 22.87%
- 3Y*
- 16.09%
- 5Y*
- 11.38%
- 10Y*
- 12.11%
ISUS.L vs. FEX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISUS.L iShares MSCI USA Islamic UCITS ETF USD (Dist) | 15.18% | 8.35% | 11.17% | 18.94% | -1.34% | 31.21% | 3.24% | 16.79% | -0.56% | 3.81% |
FEX.L First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD | 13.84% | 7.34% | 18.68% | 8.36% | -1.83% | 28.60% | 9.66% | 22.13% | -5.90% | 10.65% |
Correlation
The correlation between ISUS.L and FEX.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2013 | 0.88 |
The correlation between ISUS.L and FEX.L shifts across timeframes, from 0.73 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ISUS.L vs. FEX.L — Risk / Return Rank
ISUS.L
FEX.L
ISUS.L vs. FEX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Islamic UCITS ETF USD (Dist) (ISUS.L) and First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD (FEX.L). 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.
| ISUS.L | FEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.36 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.46 | 4.92 | -1.45 |
| Martin ratioReturn relative to average drawdown | 12.15 | 13.80 | -1.65 |
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Drawdowns
ISUS.L vs. FEX.L - Drawdown Comparison
The maximum ISUS.L drawdown since its inception was -60.74%, which is greater than FEX.L's maximum drawdown of -36.86%. Use the drawdown chart below to compare losses from any high point for ISUS.L and FEX.L.
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Drawdown Indicators
| ISUS.L | FEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.74% | -36.86% | -23.88% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -4.63% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -23.99% | -21.34% | -2.65% |
Max Drawdown (5Y)Largest decline over 5 years | -23.99% | -21.34% | -2.65% |
Max Drawdown (10Y)Largest decline over 10 years | -24.48% | -31.58% | +7.10% |
Current DrawdownCurrent decline from peak | -7.75% | -4.33% | -3.42% |
Average DrawdownAverage peak-to-trough decline | -14.34% | -7.89% | -6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.65% | +0.56% |
Volatility
ISUS.L vs. FEX.L - Volatility Comparison
iShares MSCI USA Islamic UCITS ETF USD (Dist) (ISUS.L) has a higher volatility of 6.15% compared to First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD (FEX.L) at 4.13%. This indicates that ISUS.L's price experiences larger fluctuations and is considered to be riskier than FEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISUS.L | FEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 4.13% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 11.39% | 8.32% | +3.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.03% | 11.53% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 14.63% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.59% | 16.35% | -0.76% |
ISUS.L vs. FEX.L - Expense Ratio Comparison
ISUS.L has a 0.30% expense ratio, which is lower than FEX.L's 0.75% expense ratio.
Dividends
ISUS.L vs. FEX.L - Dividend Comparison
ISUS.L's dividend yield for the trailing twelve months is around 0.66%, while FEX.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEX.L First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ISUS.L iShares MSCI USA Islamic UCITS ETF USD (Dist) | 0.66% | 0.75% | 0.89% | 1.13% | 1.53% | 1.00% | 1.50% | 1.41% | 1.45% | 1.43% | 1.23% | 1.39% |
Frequently Asked Questions
ISUS.L and FEX.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISUS.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISUS.L is cheaper with a 0.30% expense ratio, compared with 0.75% for FEX.L.
ISUS.L tracks MSCI US Islamic Gross Index in USD (NET), while FEX.L tracks Russell 1000 TR USD. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.30% for ISUS.L and 0.75% for FEX.L.
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