IYZ vs. FPA
IYZ (iShares U.S. Telecommunications ETF) and FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) are both exchange-traded funds - IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index, while FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. Both are passively managed. Over the past 10 years, IYZ returned 5.94%/yr vs 11.11%/yr for FPA. At a 0.42 correlation, their price movements are largely independent. IYZ charges 0.42%/yr vs 0.80%/yr for FPA.
Performance
IYZ vs. FPA - Performance Comparison
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Returns By Period
In the year-to-date period, IYZ achieves a 29.57% return, which is significantly lower than FPA's 47.02% return. Over the past 10 years, IYZ has underperformed FPA with an annualized return of 5.94%, while FPA has yielded a comparatively higher 11.11% annualized return.
IYZ
- 1D
- 1.27%
- 1M
- 2.31%
- YTD
- 29.57%
- 6M
- 32.60%
- 1Y
- 58.27%
- 3Y*
- 28.37%
- 5Y*
- 7.57%
- 10Y*
- 5.94%
FPA
- 1D
- -0.27%
- 1M
- 3.70%
- YTD
- 47.02%
- 6M
- 47.32%
- 1Y
- 65.35%
- 3Y*
- 29.68%
- 5Y*
- 12.60%
- 10Y*
- 11.11%
IYZ vs. FPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYZ iShares U.S. Telecommunications ETF | 29.57% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund | 47.02% | 43.16% | 3.95% | 9.97% | -14.55% | 2.98% | 13.43% | 8.91% | -21.91% | 35.81% |
Correlation
The correlation between IYZ and FPA is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011 | 0.42 |
The correlation between IYZ and FPA shifts across timeframes, from 0.31 (1 year) to 0.42 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IYZ vs. FPA — Risk / Return Rank
IYZ
FPA
IYZ vs. FPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Telecommunications ETF (IYZ) and First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA). 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.
| IYZ | FPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.42 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 6.54 | 4.32 | +2.21 |
| Martin ratioReturn relative to average drawdown | 25.99 | 14.88 | +11.11 |
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Drawdowns
IYZ vs. FPA - Drawdown Comparison
The maximum IYZ drawdown since its inception was -77.11%, which is greater than FPA's maximum drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for IYZ and FPA.
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Drawdown Indicators
| IYZ | FPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.11% | -52.91% | -24.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -15.37% | +6.75% |
Max Drawdown (3Y)Largest decline over 3 years | -13.85% | -20.66% | +6.81% |
Max Drawdown (5Y)Largest decline over 5 years | -39.74% | -34.54% | -5.20% |
Max Drawdown (10Y)Largest decline over 10 years | -39.74% | -52.91% | +13.17% |
Current DrawdownCurrent decline from peak | -4.77% | -6.94% | +2.17% |
Average DrawdownAverage peak-to-trough decline | -40.10% | -13.47% | -26.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 4.46% | -2.29% |
Volatility
IYZ vs. FPA - Volatility Comparison
The current volatility for iShares U.S. Telecommunications ETF (IYZ) is 8.76%, while First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a volatility of 14.55%. This indicates that IYZ experiences smaller price fluctuations and is considered to be less risky than FPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYZ | FPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.76% | 14.55% | -5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 15.61% | 24.45% | -8.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.65% | 27.61% | -8.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 24.43% | -5.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 22.63% | -3.33% |
IYZ vs. FPA - Expense Ratio Comparison
IYZ has a 0.42% expense ratio, which is lower than FPA's 0.80% expense ratio.
Dividends
IYZ vs. FPA - Dividend Comparison
IYZ's dividend yield for the trailing twelve months is around 1.53%, less than FPA's 3.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund | 3.63% | 4.71% | 3.40% | 3.02% | 4.22% | 5.12% | 1.59% | 3.90% | 2.81% | 3.15% | 2.42% | 1.74% |
IYZ iShares U.S. Telecommunications ETF | 1.53% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
IYZ and FPA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPA has higher volatility (14.55%) compared to IYZ (8.76%). In terms of maximum drawdown, IYZ dropped -77.11% vs FPA's -52.91%.
On 10-year performance, FPA leads with 11.11% vs 5.94% for IYZ. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYZ has been the lower-risk option at 8.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FPA has performed better with a 11.11% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYZ is cheaper with a 0.42% expense ratio, compared with 0.80% for FPA.
FPA has the higher dividend yield at 3.63%, compared with 1.53% for IYZ.
IYZ is categorized as Communications Equities, while FPA is Asia Pacific Equities. IYZ tracks Dow Jones U.S. Select Telecommunications Index, while FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.42% for IYZ and 0.80% for FPA.
IYZ currently has the higher Sharpe Ratio (3.02 vs 2.41), 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.
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