UMMA vs. FDT

Last updated Jun 5, 2026

UMMA (Wahed Dow Jones Islamic World ETF) and FDT (First Trust Developed Markets ex-US AlphaDEX Fund) are both Foreign Large Cap Equities funds - UMMA tracks the Dow Jones Islamic Market International Titans 100 Index while FDT tracks the NASDAQ AlphaDEX DM Ex-US Index. Both are passively managed. Over the past 3 years, UMMA returned 22.81%/yr vs 29.96%/yr for FDT. A 0.77 correlation means they provide meaningful diversification when combined. UMMA charges 0.65%/yr vs 0.80%/yr for FDT.

Performance

UMMA vs. FDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wahed Dow Jones Islamic World ETF (UMMA) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UMMA achieves a 32.32% return, which is significantly higher than FDT's 24.89% return.

UMMA

• 1D: -0.13%
• 1M: 12.11%
• YTD: 32.32%
• 6M: 35.20%
• 1Y: 51.77%
• 3Y*: 22.81%
• 5Y*: —
• 10Y*: —

FDT

• 1D: -0.48%
• 1M: 2.67%
• YTD: 24.89%
• 6M: 27.78%
• 1Y: 53.72%
• 3Y*: 29.96%
• 5Y*: 12.44%
• 10Y*: 10.76%

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

UMMA vs. FDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
UMMA Wahed Dow Jones Islamic World ETF	32.32%	26.65%	4.67%	18.84%	-21.62%
FDT First Trust Developed Markets ex-US AlphaDEX Fund	24.89%	52.21%	6.97%	15.03%	-19.93%

Correlation

The correlation between UMMA and FDT is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 10, 2022	0.77

The correlation between UMMA and FDT has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

UMMA vs. FDT - Sectors Allocation Comparison

Sectors	UMMA	FDT
Technology	42.9%	8.1%
Healthcare	16.6%	1.4%
Industrials	13.5%	34.0%
Basic Materials	9.3%	9.6%
Consumer Cyclical	8.1%	11.5%
Consumer Defensive	5.6%	2.8%
Energy	2.9%	9.2%
Communication Services	0.8%	2.7%
Real Estate	0.5%	5.3%
Financial Services	-	10.2%
Utilities	-	5.2%

Return for Risk

UMMA vs. FDT — Risk / Return Rank

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

UMMA

UMMA Risk / Return Rank: 76
UMMA Sharpe Ratio Rank: 81
UMMA Sortino Ratio Rank: 78
UMMA Omega Ratio Rank: 76
UMMA Calmar Ratio Rank: 71
UMMA Martin Ratio Rank: 73

FDT

FDT Risk / Return Rank: 84
FDT Sharpe Ratio Rank: 88
FDT Sortino Ratio Rank: 85
FDT Omega Ratio Rank: 86
FDT Calmar Ratio Rank: 79
FDT Martin Ratio Rank: 81

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.

UMMA vs. FDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wahed Dow Jones Islamic World ETF (UMMA) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). 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.

	UMMA	FDT	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.93	-0.34
Sortino ratio: Return per unit of downside risk	3.44	3.77	-0.33
Omega ratio: Gain probability vs. loss probability	1.45	1.52	-0.08
Calmar ratio: Return relative to maximum drawdown	3.48	4.03	-0.54
Martin ratio: Return relative to average drawdown	13.60	15.71	-2.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UMMA vs. FDT - Sharpe Ratio Comparison

The current UMMA Sharpe Ratio is 2.59, which is comparable to the FDT Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of UMMA and FDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UMMA	FDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.93	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.39	+0.18

Drawdowns

UMMA vs. FDT - Drawdown Comparison

The maximum UMMA drawdown since its inception was -34.17%, smaller than the maximum FDT drawdown of -46.10%. Use the drawdown chart below to compare losses from any high point for UMMA and FDT.

Drawdown Indicators

	UMMA	FDT	Difference
Max Drawdown Largest peak-to-trough decline	-34.17%	-46.10%	+11.93%
Max Drawdown (1Y) Largest decline over 1 year	-14.93%	-13.41%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-14.29%	-4.44%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.10%	—
Current Drawdown Current decline from peak	-0.90%	-2.07%	+1.17%
Average Drawdown Average peak-to-trough decline	-9.81%	-10.77%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	3.43%	+0.39%

Volatility

UMMA vs. FDT - Volatility Comparison

Wahed Dow Jones Islamic World ETF (UMMA) has a higher volatility of 7.54% compared to First Trust Developed Markets ex-US AlphaDEX Fund (FDT) at 7.03%. This indicates that UMMA's price experiences larger fluctuations and is considered to be riskier than FDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UMMA	FDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	7.03%	+0.51%
Volatility (6M) Calculated over the trailing 6-month period	17.26%	15.93%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	20.11%	18.42%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	18.23%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	18.52%	+2.03%

UMMA vs. FDT - Expense Ratio Comparison

UMMA has a 0.65% expense ratio, which is lower than FDT's 0.80% expense ratio.

Dividends

UMMA vs. FDT - Dividend Comparison

UMMA's dividend yield for the trailing twelve months is around 0.93%, less than FDT's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.85%	3.27%	3.89%	4.36%	2.29%	3.80%	2.42%	2.78%	2.13%	1.57%	1.76%	1.83%
UMMA Wahed Dow Jones Islamic World ETF	0.93%	1.02%	0.91%	1.09%	1.77%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UMMA and FDT in my portfolio?

UMMA and FDT have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UMMA or FDT?

UMMA has higher volatility (7.54%) compared to FDT (7.03%). In terms of maximum drawdown, UMMA dropped -34.17% vs FDT's -46.10%.

Which ETF is better, UMMA or FDT?

On 3-year performance, FDT leads with 29.96% vs 22.81% for UMMA. On fees, UMMA is cheaper at 0.65% per year. On volatility, FDT has been the lower-risk option at 7.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UMMA or FDT?

Over the 3-year period, FDT has performed better with a 29.96% return vs 22.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UMMA or FDT?

UMMA is cheaper with a 0.65% expense ratio, compared with 0.80% for FDT.

Which ETF pays a higher dividend yield, UMMA or FDT?

FDT has the higher dividend yield at 2.85%, compared with 0.93% for UMMA.

What is the main difference between UMMA and FDT?

UMMA tracks Dow Jones Islamic Market International Titans 100 Index, while FDT tracks NASDAQ AlphaDEX DM Ex-US Index. They also come from different issuers: Wahed and First Trust. Their fees differ too: 0.65% for UMMA and 0.80% for FDT.

Which has better risk-adjusted returns?

FDT currently has the higher Sharpe Ratio (2.93 vs 2.59), 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.