First Trust Large Cap Core AlphaDEX Fund (FEX) Performance
FEX total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +16.2% since Dec 31, 2025
- 1 year
- +18.3% total return
- 5 years
- +10.0% a year
- 10 years
- +12.9% a year
- Since first price
- +9.5% a year since 2007
FEX trailing returns vs SPY, QQQ, AGG
| Period | FEX total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.1% | +1.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.0% | +0.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.8% | +5.2% | +7.8% | +8.4% | −1.5% |
| YTD | +16.2% | +15.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.3% | +17.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +81.6%+22.0%/yr | +75.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +61.1%+10.0%/yr | +50.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +237.5%+12.9%/yr | +197.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +512.6%+12.8%/yr | +403.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionMay 10, 2007 | +480.3%+9.5%/yr | +356.1% | — | — | — |
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: FEX vs SPY
From May 10, 2007: FEX grew to $58,032, SPY to $72,541.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FEX returns by calendar year
13 of 18 full years positive. Best 2009 (+36.9%), worst 2008 (−38.7%). 2026 is year to date.
FEX annual returns table
| Year | FEX | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +16.2% | −6.6% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.1% | −17.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.1% | −8.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.3% | −11.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.9% | −20.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +26.8% | −6.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +14.3% | −39.5% | +18.3% | +48.6% | +7.5% |
| 2019 | +26.9% | −7.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −9.9% | −22.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +21.4% | −3.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +14.3% | −10.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −4.0% | −13.3% | +1.2% | +9.4% | +0.5% |
| 2014 | +12.2% | −9.1% | +13.5% | +19.2% | +6.0% |
| 2013 | +36.0% | −6.1% | +32.3% | +36.6% | −2.0% |
| 2012 | +14.5% | −12.3% | +16.0% | +18.1% | +3.8% |
| 2011 | −0.4% | −22.0% | +1.9% | +3.4% | +7.7% |
| 2010 | +20.6% | −14.7% | +15.1% | +19.9% | +6.4% |
| 2009 | +36.9% | −30.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −38.7% | −49.0% | −36.8% | −41.7% | +7.9% |
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.
FEX largest drawdowns
Now 3.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 13, 2007 | −58.8% | Mar 6, 2009 | Feb 17, 2011 | 1.6 years | 3.6 years |
| Feb 19, 2020 | −39.5% | Mar 23, 2020 | Oct 12, 2020 | 33 days | 8 months |
| Sep 20, 2018 | −22.0% | Dec 24, 2018 | Jul 12, 2019 | 3 months | 10 months |
| Apr 29, 2011 | −22.0% | Oct 3, 2011 | Mar 13, 2012 | 5 months | 10 months |
| Nov 16, 2021 | −21.3% | Sep 30, 2022 | Dec 14, 2023 | 10 months | 2.1 years |
| Nov 29, 2024 | −19.6% | Apr 8, 2025 | Jul 22, 2025 | 4 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FEX risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +19.2% | +10.7% | +12.4% | +9.2% |
| Volatility (annualized) | 13.4% | 16.3% | 16.9% | 17.1% |
| Sharpe ratio | 1.06 | 0.49 | 0.64 | 0.52 |
| Sortino ratio | 1.87 | 0.76 | 0.97 | 0.77 |
| Best month | +9.6% | +10.6% | +15.5% | +15.5% |
| Worst month | −7.3% | −9.9% | −18.2% | −19.1% |
| Best 12 months | +34.5% | +34.5% | +70.1% | +70.1% |
| Worst 12 months | +4.6% | −14.2% | −18.6% | −44.8% |
| Positive months | 72% | 60% | 65% | 63% |
| Beta vs S&P 500 | 0.91 | 0.94 | 1.03 | — |
| Correlation with S&P 500 | 0.84 | 0.90 | 0.94 | — |
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.
FEX rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 222 | −44.8% | +13.7% | +70.1% | 76% |
| 3-year (a year) | 198 | −8.3% | +11.4% | +29.7% | 96% |
| 5-year (a year) | 174 | −0.9% | +12.0% | +25.8% | 99% |
| 10-year (a year) | 114 | +6.9% | +11.6% | +16.8% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
FEX performance overview
First Trust Large Cap Core AlphaDEX Fund (FEX) returned +18.3% over the past year and +12.9% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +9.5% a year, turning $10,000 into about $58,032. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −58.8%, from Jul 13, 2007 to Mar 6, 2009, and it took 2.0 years to get back to the old high. FEX finished 13 of its 18 full calendar years with a gain; the best year was 2009 (+36.9%) and the worst 2008 (−38.7%). Volatility has been 17.1% a year.
Related: FEX chart, FEX holdings, FEX dividends, FEX valuation. See the FEX overview for the latest quote and fund facts.
FEX performance FAQ
What is the FEX return over the past year?
FEX returned +18.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 17.0%.
What is the average annual return of FEX?
FEX has returned +10.0% a year over 5 years, +12.9% a year over 10 years, +9.5% a year since May 10, 2007 (total return, distributions reinvested).
How much would $10,000 invested in FEX be worth?
$10,000 invested in FEX at its first recorded close on May 10, 2007 would be worth about $58,032 on October 23, 2026 with distributions reinvested.
What was the worst year for FEX?
The worst calendar year was 2008, with a total return of −38.7%. The best was 2009 at +36.9%.
What is the biggest drawdown of FEX?
The largest peak-to-trough decline was −58.8% between July 13, 2007 and March 6, 2009. It recovered to the old high on February 17, 2011, 2.0 years after the bottom.
How volatile is FEX?
Over the past 3 years FEX had an annualized volatility of 13.4% and a Sharpe ratio of 1.06 (excess return over 1–3 month T-bills per unit of risk).