SASU.L vs. FEX.L
SASU.L (iShares MSCI USA Screened UCITS ETF USD (Acc)) and FEX.L (First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD) are both Large Cap Blend Equities funds - SASU.L tracks the MSCI USA Screened Index while FEX.L tracks the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, SASU.L returned 12.84%/yr vs 10.88%/yr for FEX.L. Their correlation of 0.82 suggests significant overlap in exposure. SASU.L charges 0.07%/yr vs 0.75%/yr for FEX.L.
Performance
SASU.L vs. FEX.L - Performance Comparison
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Different Trading Currencies
SASU.L is traded in USD, while FEX.L is traded in GBp. To make them comparable, the FEX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SASU.L achieves a 8.44% return, which is significantly lower than FEX.L's 13.78% return.
SASU.L
- 1D
- -1.40%
- 1M
- -0.64%
- 6M
- 7.91%
- YTD
- 8.44%
- 1Y
- 19.98%
- 3Y*
- 20.13%
- 5Y*
- 12.84%
- 10Y*
- —
FEX.L
- 1D
- -0.18%
- 1M
- -1.45%
- 6M
- 10.24%
- YTD
- 13.78%
- 1Y
- 23.18%
- 3Y*
- 17.30%
- 5Y*
- 10.88%
- 10Y*
- 12.39%
SASU.L vs. FEX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SASU.L iShares MSCI USA Screened UCITS ETF USD (Acc) | 8.44% | 17.83% | 26.90% | 30.69% | -21.34% | 28.26% | 22.00% | 31.02% | -8.81% |
FEX.L First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD | 13.78% | 15.44% | 16.70% | 14.07% | -12.32% | 27.43% | 13.02% | 27.03% | -11.19% |
Correlation
The correlation between SASU.L and FEX.L is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.82 |
The correlation between SASU.L and FEX.L shifts across timeframes, from 0.72 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SASU.L vs. FEX.L — Risk / Return Rank
SASU.L
FEX.L
SASU.L vs. FEX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Screened UCITS ETF USD (Acc) (SASU.L) and First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD (FEX.L). 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.
| SASU.L | FEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.34 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 4.36 | -2.28 |
| Martin ratioReturn relative to average drawdown | 8.30 | 14.14 | -5.84 |
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Drawdowns
SASU.L vs. FEX.L - Drawdown Comparison
The maximum SASU.L drawdown since its inception was -34.07%, smaller than the maximum FEX.L drawdown of -38.86%. Use the drawdown chart below to compare losses from any high point for SASU.L and FEX.L.
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Drawdown Indicators
| SASU.L | FEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.07% | -38.86% | +4.79% |
Max Drawdown (1Y)Largest decline over 1 year | -9.53% | -5.29% | -4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -19.83% | -20.12% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -26.24% | -21.55% | -4.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.86% | — |
Current DrawdownCurrent decline from peak | -2.08% | -2.76% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -8.50% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 1.64% | +0.76% |
Volatility
SASU.L vs. FEX.L - Volatility Comparison
The current volatility for iShares MSCI USA Screened UCITS ETF USD (Acc) (SASU.L) is 3.34%, while First Trust US Large Cap Core AlphaDEX® UCITS ETF Class A USD (FEX.L) has a volatility of 3.90%. This indicates that SASU.L experiences smaller price fluctuations and is considered to be less risky than FEX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SASU.L | FEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.34% | 3.90% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.18% | 8.88% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.13% | 12.09% | +1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 16.00% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.39% | 17.19% | +1.20% |
SASU.L vs. FEX.L - Expense Ratio Comparison
SASU.L has a 0.07% expense ratio, which is lower than FEX.L's 0.75% expense ratio.
Dividends
SASU.L vs. FEX.L - Dividend Comparison
Neither SASU.L nor FEX.L has paid dividends to shareholders.
Frequently Asked Questions
SASU.L and FEX.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SASU.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SASU.L is cheaper with a 0.07% expense ratio, compared with 0.75% for FEX.L.
SASU.L tracks MSCI USA Screened Index, while FEX.L tracks Russell 1000 TR USD. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.07% for SASU.L and 0.75% for FEX.L.
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