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KTEC vs. FGM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KTEC vs. FGM

Last updated Jun 13, 2026

KTEC (KraneShares Hang Seng TECH Index ETF) and FGM (First Trust Germany AlphaDEX Fund) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while FGM is a Europe Equities fund tracking the NASDAQ AlphaDEX Germany Index. Both are passively managed. Over the past 5 years, KTEC returned -11.24%/yr vs 4.13%/yr for FGM. At a 0.41 correlation, their price movements are largely independent. KTEC charges 0.69%/yr vs 0.80%/yr for FGM.

Performance

KTEC vs. FGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Hang Seng TECH Index ETF (KTEC) and First Trust Germany AlphaDEX Fund (FGM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KTEC achieves a -16.16% return, which is significantly lower than FGM's 3.19% return.

KTEC

1D
-0.68%
1M
-11.70%
YTD
-16.16%
6M
-17.79%
1Y
-16.98%
3Y*
3.50%
5Y*
-11.24%
10Y*
—

FGM

1D
1.21%
1M
-2.27%
YTD
3.19%
6M
4.60%
1Y
17.41%
3Y*
20.38%
5Y*
4.13%
10Y*
8.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

KTEC vs. FGM - Yearly Performance Comparison

2026 (YTD)20252024202320222021
KTEC
KraneShares Hang Seng TECH Index ETF		-16.16%21.01%16.13%-10.41%-26.12%-29.98%
FGM
First Trust Germany AlphaDEX Fund		3.19%63.60%1.36%13.28%-30.46%-9.70%

Correlation

The correlation between KTEC and FGM is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

Correlation (3Y)
Calculated over the trailing 3-year period

0.44

Correlation (5Y)
Calculated over the trailing 5-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Jun 9, 2021

0.41

KTEC vs. FGM - Sectors Allocation Comparison

Sectors
KTEC
FGM

Consumer Cyclical

48.6%
16.6%

Communication Services

27.6%
3.2%

Technology

21.3%

-

Healthcare

2.5%
6.4%

Basic Materials

-

9.0%

Consumer Defensive

-

2.2%

Energy

-

-

Financial Services

-

8.2%

Industrials

-

40.5%

Real Estate

-

10.8%

Utilities

-

3.2%

Consumer Cyclical

KTEC
48.6%
FGM
16.6%

Communication Services

KTEC
27.6%
FGM
3.2%

Technology

KTEC
21.3%
FGM

-

Healthcare

KTEC
2.5%
FGM
6.4%

Basic Materials

KTEC

-

FGM
9.0%

Consumer Defensive

KTEC

-

FGM
2.2%

Energy

KTEC

-

FGM

-

Financial Services

KTEC

-

FGM
8.2%

Industrials

KTEC

-

FGM
40.5%

Real Estate

KTEC

-

FGM
10.8%

Utilities

KTEC

-

FGM
3.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

KraneShares Hang Seng TECH Index ETF

First Trust Germany AlphaDEX Fund

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Often compared with FGM:
FGM vs. EWGFGM vs. FEUZFGM vs. DAXFGM vs. FLGRFGM vs. EXS1.DEFGM vs. KBWPFGM vs. SHLD

Return for Risk

KTEC vs. FGM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KTEC
KTEC Risk / Return Rank: 55
Overall Rank
KTEC Sharpe Ratio Rank: 55
Sharpe Ratio Rank
KTEC Sortino Ratio Rank: 44
Sortino Ratio Rank
KTEC Omega Ratio Rank: 55
Omega Ratio Rank
KTEC Calmar Ratio Rank: 55
Calmar Ratio Rank
KTEC Martin Ratio Rank: 55
Martin Ratio Rank
FGM
FGM Risk / Return Rank: 2525
Overall Rank
FGM Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
FGM Sortino Ratio Rank: 2626
Sortino Ratio Rank
FGM Omega Ratio Rank: 2525
Omega Ratio Rank
FGM Calmar Ratio Rank: 2424
Calmar Ratio Rank
FGM Martin Ratio Rank: 2525
Martin Ratio Rank
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.

KTEC vs. FGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) and First Trust Germany AlphaDEX Fund (FGM). 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.

KTECFGMDifference
Sharpe ratioReturn per unit of total volatility
-0.61
0.84

-1.44

Sortino ratioReturn per unit of downside risk
-0.75
1.28

-2.03

Omega ratioGain probability vs. loss probability

0.92

1.16

-0.24

Calmar ratioReturn relative to maximum drawdown

-0.56

0.98

-1.54

Martin ratioReturn relative to average drawdown

-1.00

3.01

-4.01

KTEC vs. FGM - Sharpe Ratio Comparison

The current KTEC Sharpe Ratio is -0.61, which is lower than the FGM Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of KTEC and FGM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

KTEC vs. FGM - Drawdown Comparison

The maximum KTEC drawdown since its inception was -66.90%, which is greater than FGM's maximum drawdown of -51.58%. Use the drawdown chart below to compare losses from any high point for KTEC and FGM.

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Drawdown Indicators

KTECFGMDifference

Max Drawdown

Largest peak-to-trough decline

-66.90%

-51.58%

-15.32%

Max Drawdown (1Y)

Largest decline over 1 year

-30.47%

-17.76%

-12.71%

Max Drawdown (3Y)

Largest decline over 3 years

-34.71%

-17.93%

-16.78%

Max Drawdown (5Y)

Largest decline over 5 years

-66.90%

-50.45%

-16.45%

Max Drawdown (10Y)

Largest decline over 10 years

—

-51.58%

—

Current Drawdown

Current decline from peak

-47.09%

-8.26%

-38.83%

Average Drawdown

Average peak-to-trough decline

-43.95%

-14.72%

-29.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.97%

5.81%

+11.16%

Volatility

KTEC vs. FGM - Volatility Comparison

KraneShares Hang Seng TECH Index ETF (KTEC) has a higher volatility of 9.07% compared to First Trust Germany AlphaDEX Fund (FGM) at 6.75%. This indicates that KTEC's price experiences larger fluctuations and is considered to be riskier than FGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KTECFGMDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.07%

6.75%

+2.32%

Volatility (6M)

Calculated over the trailing 6-month period

20.61%

17.55%

+3.06%

Volatility (1Y)

Calculated over the trailing 1-year period

28.01%

20.94%

+7.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

43.16%

24.54%

+18.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

43.11%

23.11%

+20.00%

KTEC vs. FGM - Expense Ratio Comparison

KTEC has a 0.69% expense ratio, which is lower than FGM's 0.80% expense ratio.

Dividends

KTEC vs. FGM - Dividend Comparison

KTEC's dividend yield for the trailing twelve months is around 4.00%, more than FGM's 0.64% yield.

PositionTTM20252024202320222021202020192018201720162015
FGM
First Trust Germany AlphaDEX Fund		0.64%0.66%2.56%2.82%5.44%1.43%1.33%2.30%2.18%2.11%1.33%1.13%
KTEC
KraneShares Hang Seng TECH Index ETF		4.00%3.36%0.27%0.81%0.16%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

KTEC and FGM have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KTEC has higher volatility (9.07%) compared to FGM (6.75%). In terms of maximum drawdown, KTEC dropped -66.90% vs FGM's -51.58%.

On 5-year performance, FGM leads with 4.13% vs -11.24% for KTEC. On fees, KTEC is cheaper at 0.69% per year. On volatility, FGM has been the lower-risk option at 6.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FGM has performed better with a 4.13% return vs -11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KTEC is cheaper with a 0.69% expense ratio, compared with 0.80% for FGM.

KTEC has the higher dividend yield at 4.00%, compared with 0.64% for FGM.

KTEC is categorized as China Equities, while FGM is Europe Equities. KTEC tracks Hang Seng Tech Index, while FGM tracks NASDAQ AlphaDEX Germany Index. They also come from different issuers: KraneShares and First Trust. Their fees differ too: 0.69% for KTEC and 0.80% for FGM.

FGM currently has the higher Sharpe Ratio (0.84 vs -0.61), 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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