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RWJ vs. FXU
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RWJ vs. FXU

Last updated Jun 13, 2026

RWJ (Invesco S&P SmallCap 600 Revenue ETF) and FXU (First Trust Utilities AlphaDEX Fund) are both exchange-traded funds - RWJ is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Revenue-Weighted Index, while FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index. Both are passively managed. Over the past 10 years, RWJ returned 13.64%/yr vs 9.38%/yr for FXU. A 0.51 correlation means they provide meaningful diversification when combined. RWJ charges 0.39%/yr vs 0.62%/yr for FXU.

Performance

RWJ vs. FXU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap 600 Revenue ETF (RWJ) and First Trust Utilities AlphaDEX Fund (FXU). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RWJ achieves a 21.05% return, which is significantly higher than FXU's 8.19% return. Over the past 10 years, RWJ has outperformed FXU with an annualized return of 13.64%, while FXU has yielded a comparatively lower 9.38% annualized return.

RWJ

1D
1.08%
1M
7.83%
YTD
21.05%
6M
17.99%
1Y
42.98%
3Y*
17.13%
5Y*
8.52%
10Y*
13.64%

FXU

1D
0.87%
1M
0.66%
YTD
8.19%
6M
8.80%
1Y
17.67%
3Y*
17.64%
5Y*
11.71%
10Y*
9.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RWJ vs. FXU - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RWJ
Invesco S&P SmallCap 600 Revenue ETF		21.05%7.75%11.81%16.21%-10.97%52.82%20.83%20.29%-16.95%5.30%
FXU
First Trust Utilities AlphaDEX Fund		8.19%21.86%22.50%-2.12%3.68%17.67%1.53%11.67%5.43%0.98%

Correlation

The correlation between RWJ and FXU is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.25

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

0.39

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

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.40

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.51

Over the past year, the correlation between RWJ and FXU has dropped to 0.25 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

RWJ vs. FXU - Sectors Allocation Comparison

Sectors
RWJ
FXU

Consumer Cyclical

23.9%

-

Industrials

16.2%
4.2%

Healthcare

11.2%

-

Financial Services

11.0%

-

Technology

9.9%

-

Energy

7.4%
3.7%

Consumer Defensive

6.9%

-

Basic Materials

5.2%

-

Real Estate

4.0%

-

Communication Services

3.3%

-

Utilities

0.9%
92.0%

Consumer Cyclical

RWJ
23.9%
FXU

-

Industrials

RWJ
16.2%
FXU
4.2%

Healthcare

RWJ
11.2%
FXU

-

Financial Services

RWJ
11.0%
FXU

-

Technology

RWJ
9.9%
FXU

-

Energy

RWJ
7.4%
FXU
3.7%

Consumer Defensive

RWJ
6.9%
FXU

-

Basic Materials

RWJ
5.2%
FXU

-

Real Estate

RWJ
4.0%
FXU

-

Communication Services

RWJ
3.3%
FXU

-

Utilities

RWJ
0.9%
FXU
92.0%

Compare stocks, funds, or ETFs

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

Invesco S&P SmallCap 600 Revenue ETF

First Trust Utilities AlphaDEX Fund

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Often compared with FXU:
FXU vs. UTESFXU vs. XLUFXU vs. VPUFXU vs. IDUFXU vs. JXIFXU vs. PUIFXU vs. VOO

Return for Risk

RWJ vs. FXU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RWJ
RWJ Risk / Return Rank: 7474
Overall Rank
RWJ Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
RWJ Sortino Ratio Rank: 7777
Sortino Ratio Rank
RWJ Omega Ratio Rank: 6969
Omega Ratio Rank
RWJ Calmar Ratio Rank: 7878
Calmar Ratio Rank
RWJ Martin Ratio Rank: 7171
Martin Ratio Rank
FXU
FXU Risk / Return Rank: 3939
Overall Rank
FXU Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
FXU Sortino Ratio Rank: 3737
Sortino Ratio Rank
FXU Omega Ratio Rank: 3636
Omega Ratio Rank
FXU Calmar Ratio Rank: 4444
Calmar Ratio Rank
FXU Martin Ratio Rank: 3737
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.

RWJ vs. FXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600 Revenue ETF (RWJ) 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.

RWJFXUDifference
Sharpe ratioReturn per unit of total volatility
2.07
1.26

+0.81

Sortino ratioReturn per unit of downside risk
2.95
1.75

+1.21

Omega ratioGain probability vs. loss probability

1.35

1.21

+0.14

Calmar ratioReturn relative to maximum drawdown

3.56

1.93

+1.63

Martin ratioReturn relative to average drawdown

11.43

5.17

+6.25

RWJ vs. FXU - Sharpe Ratio Comparison

The current RWJ Sharpe Ratio is 2.07, which is higher than the FXU Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of RWJ and FXU, 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

RWJ vs. FXU - Drawdown Comparison

The maximum RWJ drawdown since its inception was -55.97%, which is greater than FXU's maximum drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for RWJ and FXU.

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Drawdown Indicators

RWJFXUDifference

Max Drawdown

Largest peak-to-trough decline

-55.97%

-49.00%

-6.97%

Max Drawdown (1Y)

Largest decline over 1 year

-11.31%

-8.63%

-2.68%

Max Drawdown (3Y)

Largest decline over 3 years

-29.29%

-17.46%

-11.83%

Max Drawdown (5Y)

Largest decline over 5 years

-29.29%

-21.87%

-7.42%

Max Drawdown (10Y)

Largest decline over 10 years

-51.33%

-34.81%

-16.52%

Current Drawdown

Current decline from peak

0.00%

-5.57%

+5.57%

Average Drawdown

Average peak-to-trough decline

-9.22%

-7.63%

-1.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.52%

3.22%

+0.30%

Volatility

RWJ vs. FXU - Volatility Comparison

The current volatility for Invesco S&P SmallCap 600 Revenue ETF (RWJ) is 4.67%, while First Trust Utilities AlphaDEX Fund (FXU) has a volatility of 5.01%. This indicates that RWJ experiences smaller price fluctuations and is considered to be less risky than FXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

RWJFXUDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.67%

5.01%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

12.46%

10.33%

+2.13%

Volatility (1Y)

Calculated over the trailing 1-year period

19.48%

13.30%

+6.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.71%

16.61%

+7.10%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

26.14%

18.34%

+7.80%

RWJ vs. FXU - Expense Ratio Comparison

RWJ has a 0.39% expense ratio, which is lower than FXU's 0.62% expense ratio.

Dividends

RWJ vs. FXU - Dividend Comparison

RWJ's dividend yield for the trailing twelve months is around 0.97%, less than FXU's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
FXU
First Trust Utilities AlphaDEX Fund		2.16%2.29%2.41%2.52%2.03%2.00%3.97%2.34%2.40%3.81%2.62%3.90%
RWJ
Invesco S&P SmallCap 600 Revenue ETF		0.97%1.11%1.15%1.34%1.02%0.61%0.89%1.22%1.44%1.11%0.60%0.74%

Frequently Asked Questions

RWJ and FXU have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FXU has higher volatility (5.01%) compared to RWJ (4.67%). In terms of maximum drawdown, RWJ dropped -55.97% vs FXU's -49.00%.

On 10-year performance, RWJ leads with 13.64% vs 9.38% for FXU. On fees, RWJ is cheaper at 0.39% per year. On volatility, RWJ has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWJ has performed better with a 13.64% return vs 9.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

RWJ is cheaper with a 0.39% expense ratio, compared with 0.62% for FXU.

FXU has the higher dividend yield at 2.16%, compared with 0.97% for RWJ.

RWJ is categorized as Small Cap Value Equities, while FXU is Utilities Equities. RWJ tracks S&P SmallCap 600 Revenue-Weighted Index, while FXU tracks StrataQuant Utilities Index. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.39% for RWJ and 0.62% for FXU.

RWJ currently has the higher Sharpe Ratio (2.07 vs 1.26), 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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