First Trust Asia Pacific Ex-Japan AlphaDEX Fund (FPA) Performance
FPA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +20.3% since Dec 31, 2025
- 1 year
- +19.8% total return
- 5 years
- +10.5% a year
- 10 years
- +7.8% a year
- Since first price
- +5.5% a year since 2011
FPA trailing returns vs SPY, QQQ, AGG
| Period | FPA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −11.7% | −11.7% | −1.0% | −5.0% | +0.9% |
| 3 months | −7.8% | −8.5% | +3.2% | +1.9% | −0.4% |
| 6 months | −8.0% | −9.0% | +7.8% | +8.4% | −1.5% |
| YTD | +20.3% | +17.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.8% | +14.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +106.0%+27.2%/yr | +84.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +64.5%+10.5%/yr | +34.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +112.2%+7.8%/yr | +50.2% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +198.3%+7.6%/yr | +85.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionApr 20, 2011 | +131.1%+5.5%/yr | +43.2% | — | — | — |
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: FPA vs SPY
From Apr 20, 2011: FPA grew to $23,107, SPY to $74,895.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FPA returns by calendar year
12 of 14 full years positive. Best 2025 (+43.2%), worst 2018 (−21.9%). 2026 is year to date.
FPA annual returns table
| Year | FPA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +20.3% | −25.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +43.2% | −14.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +4.0% | −10.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +10.0% | −20.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.6% | −27.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +3.0% | −16.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +13.4% | −42.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +8.9% | −16.1% | +31.2% | +39.0% | +8.5% |
| 2018 | −21.9% | −28.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +35.8% | −4.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +1.1% | −10.4% | +12.0% | +7.1% | +2.4% |
| 2015 | +0.1% | −23.9% | +1.2% | +9.4% | +0.5% |
| 2014 | +2.8% | −13.2% | +13.5% | +19.2% | +6.0% |
| 2013 | +3.7% | −17.2% | +32.3% | +36.6% | −2.0% |
| 2012 | +24.9% | −16.8% | +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.
FPA largest drawdowns
Now 23.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −52.9% | Mar 23, 2020 | Apr 14, 2021 | 2.2 years | 3.2 years |
| Jul 26, 2011 | −37.8% | Oct 3, 2011 | May 14, 2014 | 2 months | 2.8 years |
| Jun 2, 2021 | −35.4% | Oct 14, 2022 | May 23, 2025 | 1.4 years | 4.0 years |
| Jun 1, 2026 | −25.4% | Jul 29, 2026 | not yet | 58 days | 5 months so far |
| Apr 28, 2015 | −24.6% | Jan 20, 2016 | May 22, 2017 | 9 months | 2.1 years |
| Feb 26, 2026 | −15.4% | Mar 30, 2026 | Apr 30, 2026 | 32 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.
FPA risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +29.5% | +13.4% | +8.8% | +6.4% |
| Volatility (annualized) | 26.8% | 25.6% | 22.8% | 22.1% |
| Sharpe ratio | 0.94 | 0.48 | 0.38 | 0.33 |
| Sortino ratio | 1.64 | 0.77 | 0.59 | 0.49 |
| Best month | +17.5% | +17.5% | +17.5% | +21.4% |
| Worst month | −17.0% | −17.0% | −18.6% | −19.5% |
| Best 12 months | +87.9% | +87.9% | +87.9% | +87.9% |
| Worst 12 months | +4.0% | −26.2% | −32.5% | −32.5% |
| Positive months | 69% | 62% | 57% | 55% |
| Beta vs S&P 500 | 1.30 | 1.09 | 1.07 | — |
| Correlation with S&P 500 | 0.60 | 0.67 | 0.72 | — |
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.
FPA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 175 | −32.5% | +6.7% | +87.9% | 67% |
| 3-year (a year) | 151 | −11.3% | +4.7% | +35.5% | 80% |
| 5-year (a year) | 127 | −6.2% | +4.5% | +13.5% | 83% |
| 10-year (a year) | 67 | +1.2% | +4.0% | +11.6% | 100% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
FPA performance overview
First Trust Asia Pacific Ex-Japan AlphaDEX Fund (FPA) returned +19.8% over the past year and +7.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +5.5% a year, turning $10,000 into about $23,107. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −52.9%, from Jan 26, 2018 to Mar 23, 2020, and it took 1.1 years to get back to the old high. FPA finished 12 of its 14 full calendar years with a gain; the best year was 2025 (+43.2%) and the worst 2018 (−21.9%). Volatility has been 22.1% a year.
Related: FPA chart, FPA holdings, FPA dividends. See the FPA overview for the latest quote and fund facts.
FPA performance FAQ
What is the FPA return over the past year?
FPA returned +19.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 14.4%.
What is the average annual return of FPA?
FPA has returned +10.5% a year over 5 years, +7.8% a year over 10 years, +5.5% a year since April 20, 2011 (total return, distributions reinvested).
How much would $10,000 invested in FPA be worth?
$10,000 invested in FPA at its first recorded close on April 20, 2011 would be worth about $23,107 on October 23, 2026 with distributions reinvested.
What was the worst year for FPA?
The worst calendar year was 2018, with a total return of −21.9%. The best was 2025 at +43.2%.
What is the biggest drawdown of FPA?
The largest peak-to-trough decline was −52.9% between January 26, 2018 and March 23, 2020. It recovered to the old high on April 14, 2021, 1.1 years after the bottom.
How volatile is FPA?
Over the past 3 years FPA had an annualized volatility of 26.8% and a Sharpe ratio of 0.94 (excess return over 1–3 month T-bills per unit of risk).