MKTN vs. FXU
MKTN (Federated Hermes MDT Market Neutral ETF) and FXU (First Trust Utilities AlphaDEX Fund) are both exchange-traded funds - MKTN is a Long-Short fund actively managed by Federated Hermes, while FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index. MKTN is actively managed, while FXU is passively managed. At a correlation of -0.13, they often move in opposite directions.
Performance
MKTN vs. FXU - Performance Comparison
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Returns By Period
In the year-to-date period, MKTN achieves a 0.57% return, which is significantly lower than FXU's 10.72% return.
MKTN
- 1D
- 0.43%
- 1M
- 0.32%
- YTD
- 0.57%
- 6M
- 0.65%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FXU
- 1D
- 1.12%
- 1M
- 1.47%
- YTD
- 10.72%
- 6M
- 10.59%
- 1Y
- 19.31%
- 3Y*
- 19.47%
- 5Y*
- 12.92%
- 10Y*
- 9.56%
MKTN vs. FXU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MKTN Federated Hermes MDT Market Neutral ETF | 0.57% | 3.22% |
FXU First Trust Utilities AlphaDEX Fund | 10.72% | 1.45% |
Correlation
The correlation between MKTN and FXU is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | -0.13 |
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Return for Risk
MKTN vs. FXU — Risk / Return Rank
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FXU
MKTN vs. FXU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and First Trust Utilities AlphaDEX Fund (FXU). 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.
| MKTN | FXU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.25 | — |
| Martin ratioReturn relative to average drawdown | — | 5.82 | — |
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Drawdowns
MKTN vs. FXU - Drawdown Comparison
The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum FXU drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for MKTN and FXU.
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Drawdown Indicators
| MKTN | FXU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.13% | -49.00% | +44.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.63% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.81% | — |
Current DrawdownCurrent decline from peak | -1.34% | -3.37% | +2.03% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -7.63% | +6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.33% | — |
Volatility
MKTN vs. FXU - Volatility Comparison
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Volatility by Period
| MKTN | FXU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.75% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.47% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 13.34% | -6.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.74% | 16.57% | -9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.74% | 18.35% | -11.61% |
Dividends
MKTN vs. FXU - Dividend Comparison
MKTN's dividend yield for the trailing twelve months is around 0.51%, less than FXU's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXU First Trust Utilities AlphaDEX Fund | 2.11% | 2.29% | 2.41% | 2.52% | 2.03% | 2.00% | 3.97% | 2.34% | 2.40% | 3.81% | 2.62% | 3.90% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.51% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKTN and FXU have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXU has the higher dividend yield at 2.11%, compared with 0.51% for MKTN.
MKTN is categorized as Long-Short, while FXU is Utilities Equities. They also come from different issuers: Federated Hermes and First Trust.
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