XEML vs. FSZ

Last updated Jun 6, 2026

XEML (Xtrackers Europe Market Leaders ETF) and FSZ (First Trust Switzerland AlphaDEX Fund) are both Europe Equities funds - XEML tracks the STOXX Europe Total Market Leaders Index while FSZ tracks the NASDAQ AlphaDEX Switzerland Index. Both are passively managed. Their correlation of 0.88 suggests significant overlap in exposure. XEML charges 0.35%/yr vs 0.80%/yr for FSZ.

Performance

XEML vs. FSZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and First Trust Switzerland AlphaDEX Fund (FSZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with XEML having a 1.49% return and FSZ slightly lower at 1.45%.

XEML

• 1D: -1.83%
• 1M: -1.97%
• YTD: 1.49%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSZ

• 1D: -1.62%
• 1M: -2.40%
• YTD: 1.45%
• 6M: 5.20%
• 1Y: 8.61%
• 3Y*: 12.23%
• 5Y*: 5.82%
• 10Y*: 9.18%

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

XEML vs. FSZ - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	1.49%	-0.42%
FSZ First Trust Switzerland AlphaDEX Fund	1.45%	-0.78%

Correlation

The correlation between XEML and FSZ is 0.88, 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 Dec 24, 2025	0.88

Return for Risk

XEML vs. FSZ — Risk / Return Rank

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

FSZ

FSZ Risk / Return Rank: 20
FSZ Sharpe Ratio Rank: 19
FSZ Sortino Ratio Rank: 20
FSZ Omega Ratio Rank: 19
FSZ Calmar Ratio Rank: 20
FSZ 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.

XEML vs. FSZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and First Trust Switzerland AlphaDEX Fund (FSZ). 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

	XEML	FSZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.60	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.51	-0.39

Drawdowns

XEML vs. FSZ - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, smaller than the maximum FSZ drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for XEML and FSZ.

Drawdown Indicators

	XEML	FSZ	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-33.97%	+20.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.39%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.96%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.97%	—
Current Drawdown Current decline from peak	-6.81%	-5.65%	-1.16%
Average Drawdown Average peak-to-trough decline	-4.93%	-6.99%	+2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.16%	—

Volatility

Volatility by Period

	XEML	FSZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	14.31%	+5.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	19.35%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.83%	18.95%	+0.88%

XEML vs. FSZ - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is lower than FSZ's 0.80% expense ratio.

Dividends

XEML vs. FSZ - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 0.10%, less than FSZ's 2.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSZ First Trust Switzerland AlphaDEX Fund	2.40%	1.80%	1.80%	2.11%	3.50%	1.62%	1.53%	2.01%	2.29%	1.49%	1.93%	1.08%
XEML Xtrackers Europe Market Leaders ETF	0.10%	0.00%	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 XEML and FSZ in my portfolio?

XEML and FSZ have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEML or FSZ?

On fees, XEML is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or FSZ?

XEML is cheaper with a 0.35% expense ratio, compared with 0.80% for FSZ.

Which ETF pays a higher dividend yield, XEML or FSZ?

FSZ has the higher dividend yield at 2.40%, compared with 0.10% for XEML.

What is the main difference between XEML and FSZ?

XEML tracks STOXX Europe Total Market Leaders Index, while FSZ tracks NASDAQ AlphaDEX Switzerland Index. They also come from different issuers: Xtrackers and First Trust. Their fees differ too: 0.35% for XEML and 0.80% for FSZ.