First Trust Europe AlphaDEX Fund (FEP) Performance
FEP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.7% since Dec 31, 2025
- 1 year
- +12.4% total return
- 5 years
- +8.8% a year
- 10 years
- +10.1% a year
- Since first price
- +6.7% a year since 2011
FEP trailing returns vs SPY, QQQ, AGG
| Period | FEP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.9% | −4.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.5% | −3.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.9% | −2.8% | +7.8% | +8.4% | −1.5% |
| YTD | +5.7% | +3.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.4% | +8.9% | +14.4% | +15.9% | −1.1% |
| 3 years | +98.6%+25.7%/yr | +77.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +52.6%+8.8%/yr | +27.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +161.6%+10.1%/yr | +93.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +257.8%+8.9%/yr | +138.1% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 26, 2011 | +174.3%+6.7%/yr | +79.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FEP vs SPY
From Apr 26, 2011: FEP grew to $27,429, SPY to $73,956.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FEP returns by calendar year
11 of 14 full years positive. Best 2025 (+55.7%), worst 2022 (−23.0%). 2026 is year to date.
FEP annual returns table
| Year | FEP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.7% | −12.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +55.7% | −15.8% | +17.7% | +20.8% | +7.2% |
| 2024 | +3.4% | −9.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.8% | −14.2% | +26.2% | +54.9% | +5.7% |
| 2022 | −23.0% | −38.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +17.0% | −7.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +4.1% | −42.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +24.8% | −10.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.0% | −27.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +36.2% | −3.2% | +21.7% | +32.7% | +3.6% |
| 2016 | +0.8% | −15.7% | +12.0% | +7.1% | +2.4% |
| 2015 | +2.8% | −15.2% | +1.2% | +9.4% | +0.5% |
| 2014 | −10.2% | −22.3% | +13.5% | +19.2% | +6.0% |
| 2013 | +30.0% | −8.3% | +32.3% | +36.6% | −2.0% |
| 2012 | +23.4% | −19.1% | +16.0% | +18.1% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FEP largest drawdowns
Now 8.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −46.0% | Mar 18, 2020 | Jan 6, 2021 | 2.1 years | 2.9 years |
| Sep 2, 2021 | −39.0% | Sep 27, 2022 | Feb 18, 2025 | 1.1 years | 3.5 years |
| May 3, 2011 | −35.3% | Jun 1, 2012 | Aug 9, 2013 | 1.1 years | 2.3 years |
| Jun 6, 2014 | −26.3% | Feb 11, 2016 | May 2, 2017 | 1.7 years | 2.9 years |
| Mar 19, 2025 | −15.8% | Apr 7, 2025 | Apr 29, 2025 | 19 days | 41 days |
| Feb 25, 2026 | −12.1% | Mar 20, 2026 | May 6, 2026 | 23 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FEP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +24.1% | +10.1% | +9.9% | +6.9% |
| Volatility (annualized) | 14.8% | 19.0% | 19.1% | 19.0% |
| Sharpe ratio | 1.24 | 0.41 | 0.48 | 0.37 |
| Sortino ratio | 2.26 | 0.62 | 0.68 | 0.53 |
| Best month | +10.8% | +12.3% | +15.5% | +15.5% |
| Worst month | −7.4% | −12.6% | −22.8% | −22.8% |
| Best 12 months | +57.6% | +57.6% | +61.2% | +61.2% |
| Worst 12 months | +3.4% | −34.3% | −34.3% | −34.3% |
| Positive months | 67% | 58% | 61% | 58% |
| Beta vs S&P 500 | 0.65 | 0.90 | 1.00 | — |
| Correlation with S&P 500 | 0.54 | 0.74 | 0.80 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FEP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 175 | −34.3% | +11.0% | +61.2% | 65% |
| 3-year (a year) | 151 | −5.4% | +6.6% | +29.3% | 81% |
| 5-year (a year) | 127 | −4.1% | +6.6% | +14.3% | 93% |
| 10-year (a year) | 67 | +2.3% | +5.9% | +11.4% | 100% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
FEP performance overview
First Trust Europe AlphaDEX Fund (FEP) returned +12.4% over the past year and +10.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +6.7% a year, turning $10,000 into about $27,429. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −46.0%, from Jan 26, 2018 to Mar 18, 2020, and it took 10 months to get back to the old high. FEP finished 11 of its 14 full calendar years with a gain; the best year was 2025 (+55.7%) and the worst 2022 (−23.0%). Volatility has been 19.0% a year.
Related: FEP chart, FEP holdings, FEP dividends. See the FEP overview for the latest quote and fund facts.
FEP performance FAQ
What is the FEP return over the past year?
FEP returned +12.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.9%.
What is the average annual return of FEP?
FEP has returned +8.8% a year over 5 years, +10.1% a year over 10 years, +6.7% a year since April 26, 2011 (total return, distributions reinvested).
How much would $10,000 invested in FEP be worth?
$10,000 invested in FEP at its first recorded close on April 26, 2011 would be worth about $27,429 on October 23, 2026 with distributions reinvested.
What was the worst year for FEP?
The worst calendar year was 2022, with a total return of −23.0%. The best was 2025 at +55.7%.
What is the biggest drawdown of FEP?
The largest peak-to-trough decline was −46.0% between January 26, 2018 and March 18, 2020. It recovered to the old high on January 6, 2021, 10 months after the bottom.
How volatile is FEP?
Over the past 3 years FEP had an annualized volatility of 14.8% and a Sharpe ratio of 1.24 (excess return over 1–3 month T-bills per unit of risk).