FXD, the First Trust Consumer Discretionary AlphaDEX Fund, is a $243 million ETF whose main story is the trade-war tax. It holds 0.7% of the money in ETFs carrying that story, 6th of 30. Over the past year it returned −4.9%, against +16.8% for broad US ETFs. Figures to October 2, 2026; past performance, not a recommendation.
The narrative it carries
This is its only narrative.
The trade-war tax →
Retailers, brands and US manufacturers: the companies that pay tariffs or are protected by them.
The band is where this narrative’s level sits among the 22 this week. QUIET means less talked about, not falling.
| # | ETF | SHARE | ASSETS | 1 YEAR | COST |
|---|---|---|---|---|---|
| 1 | XLY | 57.4% | $21.27bn | −7.3% | 0.08% |
| 2 | AIRR | 16.9% | $8.94bn | +10.0% | 0.69% |
| 3 | VCR | 16.6% | $6.16bn | −6.1% | 0.09% |
| 4 | FDIS | 4.4% | $1.63bn | −6.0% | – |
| 5 | IYC | 3.1% | $1.17bn | −8.3% | 0.37% |
| 25 other ETFs | 1.6% |
Share is each ETF’s slice of the capital carrying this narrative. 1 year is market price total return; cost is the expense ratio. See all 30 ETFs on the narrative page →
FRI OCT 2MARKET PRICE TOTAL RETURN
| 1M | 3M | YTD | 1Y | 3Y* | 5Y* | |
|---|---|---|---|---|---|---|
| FXD | −5.3% | −7.1% | −5.0% | −4.9% | +9.3% | +2.5% |
| The trade-war taxits narrative | −3.3% | −7.5% | −3.8% | −3.7% | +15.0% | +7.7% |
| The marketbroad US ETFs | +0.8% | +2.6% | +14.6% | +16.8% | +22.9% | +12.9% |
1M, 3M, 1Y, 3Y, 5Y: one month to five years. YTD: year to date. * A year, annualised. A dash means the ETF has not traded for the whole period. Since it started trading on May 10, 2007: +7.1% a year.
$10,000 invested October 31, 2016
Year by year
Total return in each calendar year; this year is year to date. A year appears only if FXD traded for all of it.
Total return on the market price, with each distribution reinvested on its ex-date. Not the NAV return the issuer publishes; the two differ when the ETF trades above or below the value of its holdings. The narrative is the asset-weighted return of the unlevered ETFs that carry it. The market is the asset-weighted return of broad US index ETFs. Past performance is no guarantee of future results.
FRI OCT 2MARKET PRICE TOTAL RETURN
How closely it moves
FXD moves closely with the market. When the market has moved 1%, FXD has tended to move 1.00%.
FXD moves closely with the trade-war tax. When the trade-war tax has moved 1%, FXD has tended to move 0.84%.
Weekly returns over 157 weeks. The narrative is measured without FXD in it, so it is not compared with itself.
ETFs it moves most and least like
Correlation of weekly returns over the last 3 years, among unlevered ETFs StoryVector covers.
Where it sits in The trade-war tax
Each dot is one of 13 unlevered ETFs whose main narrative is the trade-war tax, placed by its return (up) and how much it swung (right) over the last year.
Risk
How it is built
An unlevered long ETF. It counts toward Share of Narrative.
Narrative exposure
Common questions
What story is FXD selling?
FXD’s main story is the trade-war tax, which covers retailers, brands and US manufacturers: the companies that pay tariffs or are protected by them.
Which ETFs compete with FXD?
The ETFs whose weekly returns move most like FXD’s over the past 3 years are RWK (0.92), IQSM (0.91) and ETHO (0.90).
How much of the trade-war tax does FXD hold?
FXD holds 0.7% of the money in ETFs carrying that story, 6th of 30.
How has FXD performed against its story?
Over the past year FXD returned −4.9%, the ETFs carrying the trade-war tax −3.7% and broad US ETFs +16.8%, to October 2, 2026. Its weekly returns have a correlation of 0.83 with the story. Past performance only.
Run an ETF in the trade-war tax? StoryVector shows issuers where their ETFs stand against the closest rivals, every week.
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