FDEV vs FEUZ

FDEVAFidelity International Multifactor ETF

FEUZDFirst Trust Eurozone AlphaDEX ETF

In short

FDEV Four factors (value, quality, momentum, low volatility) blended into one developed-markets index fund at 0.18% a year. Fidelity's answer to paying up for a single-factor tilt overseas.

FEUZ Most international factor funds sweep the whole developed world. FEUZ picks one bloc: the eurozone, run through First Trust's patented AlphaDEX screen, which ranks on growth and value and tiers the survivors instead of tracking market cap.

Stated mandate

FDEV The fund seeks returns generally corresponding to the Fidelity International Multifactor Index before fees and expenses.

FEUZ The fund seeks to track, before fees and expenses, the price and yield of the Nasdaq AlphaDEX® EurozoneTM Index. It uses an enhanced, rules-based AlphaDEX selection process applied to the Nasdaq EurozoneTM Index.

Why people hold it

• FDEV 0.18% a year, less than half the typical fee in its international multifactor group, and within a rounding error of the cheapest name there (INTF at 0.16%).
• One index does the work of four screens: value, quality, momentum and low volatility applied together, instead of you stacking separate single-factor funds.
• Roughly 220 developed-market stocks outside the US, picked by published index rules rather than a manager's hunches, with cash paid out quarterly.
• Sits in the top quartile of a 29-fund international factor cohort, which is a crowded field full of far pricier attempts at the same job.

• FEUZ Eurozone only. No UK, no Switzerland, no Japan watering down the exposure, so it acts as a targeted slice rather than another all-of-developed-markets blend.ftportfolios.com
• AlphaDEX ranks the parent Nasdaq Eurozone index on growth and value factors, cuts the bottom 25% of scorers, then tiers the rest by quintile and rebalances quarterly.ftportfolios.com
• Stocks are equally weighted inside each quintile across roughly 150 names, so no single European mega-cap sets the tone the way it would in a cap-weighted benchmark.ftportfolios.com
• Live since 2014 with a decade-plus of real trading history, and it pays on a quarterly schedule.

Worth knowing

• FDEV Thinly traded. Spreads can quietly cost more than the fee, so limit orders matter more here than with the category's household names.
• A 2019 launch still in the mid-size asset range, so there is no decades-long record to lean on the way older international index funds offer.
• Blending four factors means none of them drives the bus. When value or momentum alone runs hot, this owns only a slice of that move.

• FEUZ The 0.80% expense ratio is a multiple of what top-ranked broad international multifactor peers like INTF (0.16%) and GSIE (0.25%) charge.
• Thinly traded next to headline international ETFs, so spreads can run wider and larger orders take more care to work.
• One currency bloc: euro moves pass straight into dollar returns, and quarterly reconstitution keeps turnover above a set-and-forget cap-weighted index.ftportfolios.com

Full FDEV profile⁠

Full FEUZ profile⁠