OPER vs. FCA
OPER (ClearShares Ultra-Short Maturity ETF) and FCA (First Trust China AlphaDEX Fund) are both exchange-traded funds - OPER is a Ultrashort Bond fund tracking the ICE BofA U.S. Broad Market Index, while FCA is a China Equities fund tracking the NASDAQ AlphaDEX China Index. Both are passively managed. Over the past 5 years, OPER returned 3.65%/yr vs 5.03%/yr for FCA. At a correlation of -0.01, they often move in opposite directions. OPER charges 0.20%/yr vs 0.80%/yr for FCA.
Performance
OPER vs. FCA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPER achieves a 1.55% return, which is significantly lower than FCA's 11.99% return.
OPER
- 1D
- 0.01%
- 1M
- 0.34%
- YTD
- 1.55%
- 6M
- 1.88%
- 1Y
- 4.07%
- 3Y*
- 4.80%
- 5Y*
- 3.65%
- 10Y*
- —
FCA
- 1D
- 0.41%
- 1M
- -2.70%
- YTD
- 11.99%
- 6M
- 10.11%
- 1Y
- 44.72%
- 3Y*
- 20.23%
- 5Y*
- 5.03%
- 10Y*
- 9.93%
OPER vs. FCA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 1.55% | 4.37% | 5.34% | 5.09% | 1.76% | 0.37% | 0.65% | 2.15% | 0.90% |
FCA First Trust China AlphaDEX Fund | 11.99% | 45.20% | 14.07% | -8.28% | -17.61% | -0.65% | 11.80% | 18.72% | -13.82% |
Correlation
The correlation between OPER and FCA is -0.20, 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 (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2018 | -0.01 |
The correlation between OPER and FCA shifts across timeframes, from -0.20 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OPER vs. FCA — Risk / Return Rank
OPER
FCA
OPER vs. FCA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) and First Trust China AlphaDEX Fund (FCA). 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.
| OPER | FCA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.43 | ||
| Sortino ratioReturn per unit of downside risk | +41.33 | ||
| Omega ratioGain probability vs. loss probability | 13.38 | 1.34 | +12.04 |
| Calmar ratioReturn relative to maximum drawdown | 61.29 | 4.04 | +57.25 |
| Martin ratioReturn relative to average drawdown | 519.55 | 11.48 | +508.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| OPER | FCA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 15.45 | 2.02 | +13.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 11.47 | 0.18 | +11.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.28 | 0.13 | +2.15 |
Drawdowns
OPER vs. FCA - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum FCA drawdown of -45.56%. Use the drawdown chart below to compare losses from any high point for OPER and FCA.
Loading charts...
Drawdown Indicators
| OPER | FCA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -45.56% | +43.23% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -11.13% | +11.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -26.13% | +26.02% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -42.47% | +42.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.47% | — |
Current DrawdownCurrent decline from peak | 0.00% | -8.50% | +8.50% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -21.62% | +21.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 3.91% | -3.90% |
Volatility
OPER vs. FCA - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.10%, while First Trust China AlphaDEX Fund (FCA) has a volatility of 8.33%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than FCA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OPER | FCA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 8.33% | -8.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 16.57% | -16.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.26% | 22.29% | -22.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 27.59% | -27.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.23% | 26.63% | -25.40% |
OPER vs. FCA - Expense Ratio Comparison
OPER has a 0.20% expense ratio, which is lower than FCA's 0.80% expense ratio.
Dividends
OPER vs. FCA - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 4.09%, more than FCA's 2.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCA First Trust China AlphaDEX Fund | 2.30% | 2.67% | 5.17% | 5.70% | 6.00% | 4.91% | 4.12% | 3.73% | 3.10% | 2.30% | 2.51% | 4.13% |
OPER ClearShares Ultra-Short Maturity ETF | 4.09% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OPER and FCA have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCA has higher volatility (8.33%) compared to OPER (0.10%). In terms of maximum drawdown, OPER dropped -2.33% vs FCA's -45.56%.
On 5-year performance, FCA leads with 5.03% vs 3.65% for OPER. On fees, OPER is cheaper at 0.20% per year. On volatility, OPER has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FCA has performed better with a 5.03% return vs 3.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPER is cheaper with a 0.20% expense ratio, compared with 0.80% for FCA.
OPER has the higher dividend yield at 4.09%, compared with 2.30% for FCA.
OPER is categorized as Ultrashort Bond, while FCA is China Equities. OPER tracks ICE BofA U.S. Broad Market Index, while FCA tracks NASDAQ AlphaDEX China Index. They also come from different issuers: ClearShares and First Trust. Their fees differ too: 0.20% for OPER and 0.80% for FCA.
OPER currently has the higher Sharpe Ratio (15.45 vs 2.02), 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.
Find the right allocation for OPER and FCA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer