TFNS vs. FXO

Last updated Jun 4, 2026

TFNS (T. Rowe Price Financials ETF) and FXO (First Trust Financials AlphaDEX Fund) are both Financials Equities funds. TFNS is actively managed, while FXO is passively managed. Their correlation of 0.91 suggests significant overlap in exposure. TFNS charges 0.44%/yr vs 0.62%/yr for FXO.

Performance

TFNS vs. FXO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Financials ETF (TFNS) and First Trust Financials AlphaDEX Fund (FXO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFNS achieves a -5.36% return, which is significantly lower than FXO's -3.33% return.

TFNS

• 1D: -1.39%
• 1M: -1.27%
• YTD: -5.36%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FXO

• 1D: -1.14%
• 1M: -2.00%
• YTD: -3.33%
• 6M: -1.77%
• 1Y: 9.07%
• 3Y*: 18.83%
• 5Y*: 7.43%
• 10Y*: 11.86%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TFNS vs. FXO - Yearly Performance Comparison

	2026 (YTD)	2025
TFNS T. Rowe Price Financials ETF	-5.36%	10.41%
FXO First Trust Financials AlphaDEX Fund	-3.33%	12.99%

Correlation

The correlation between TFNS and FXO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.91

TFNS vs. FXO - Sectors Allocation Comparison

Sectors	TFNS	FXO
Financial Services	97.1%	94.3%
Technology	1.9%	0.6%
Industrials	0.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	5.1%
Utilities	-	-

Return for Risk

TFNS vs. FXO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXO

FXO Risk / Return Rank: 18
FXO Sharpe Ratio Rank: 18
FXO Sortino Ratio Rank: 17
FXO Omega Ratio Rank: 17
FXO Calmar Ratio Rank: 19
FXO Martin Ratio Rank: 20

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.

TFNS vs. FXO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Financials ETF (TFNS) and First Trust Financials AlphaDEX Fund (FXO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TFNS	FXO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.58	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.30	0.00

Drawdowns

TFNS vs. FXO - Drawdown Comparison

The maximum TFNS drawdown since its inception was -14.00%, smaller than the maximum FXO drawdown of -71.30%. Use the drawdown chart below to compare losses from any high point for TFNS and FXO.

Drawdown Indicators

	TFNS	FXO	Difference
Max Drawdown Largest peak-to-trough decline	-14.00%	-71.30%	+57.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.35%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.80%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-48.55%	—
Current Drawdown Current decline from peak	-8.00%	-6.22%	-1.78%
Average Drawdown Average peak-to-trough decline	-3.82%	-13.12%	+9.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.91%	—

Volatility

Volatility by Period

	TFNS	FXO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	15.63%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	21.96%	-6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	24.13%	-9.09%

TFNS vs. FXO - Expense Ratio Comparison

TFNS has a 0.44% expense ratio, which is lower than FXO's 0.62% expense ratio.

Dividends

TFNS vs. FXO - Dividend Comparison

TFNS's dividend yield for the trailing twelve months is around 0.52%, less than FXO's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXO First Trust Financials AlphaDEX Fund	2.23%	1.78%	1.97%	2.98%	2.49%	1.91%	2.60%	1.72%	2.60%	1.62%	1.35%	1.51%
TFNS T. Rowe Price Financials ETF	0.52%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TFNS and FXO in my portfolio?

With a correlation of 0.91, TFNS and FXO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, TFNS or FXO?

On fees, TFNS is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFNS or FXO?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.62% for FXO.

Which ETF pays a higher dividend yield, TFNS or FXO?

FXO has the higher dividend yield at 2.23%, compared with 0.52% for TFNS.

What is the main difference between TFNS and FXO?

They also come from different issuers: T. Rowe Price and First Trust. Their fees differ too: 0.44% for TFNS and 0.62% for FXO.