First Trust Indxx Medical Devices ETF (MDEV) belongs to the Health & Biotech Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MDEV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MDEV
MDEV charges 0.70% annually. There are 47 ETFs in the Health & Biotech Equities category with lower expense ratios, going as low as 0.08%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 0.08% | 41.65B | Dec 1998 | MDEV vs XLV | |
| Fidelity MSCI Health Care Index ETF | 0.08% | 3.22B | Oct 2013 | MDEV vs FHLC | |
| Vanguard Health Care ETF | 0.09% | 19.00B | Jan 2004 | MDEV vs VHT | |
| Portfolio Building Block World Pharma and Biotech ... | 0.13% | 951.16M | Nov 2025 | MDEV vs PBPH | |
| GSK plc ADRhedged ETF | 0.19% | 793.18K | Jan 2025 | MDEV vs GSKH |
Best Risk-Adjusted Alternatives to MDEV
MDEV has a PortfoliosLab risk / return rank of 7. There are 52 ETFs in the Health & Biotech Equities category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Virtus LifeSci Biotech Clinical Trials ETF | 96 | 57.56M | Dec 2014 | MDEV vs BBC | |
| ALPS Medical Breakthroughs ETF | 95 | 213.08M | Dec 2014 | MDEV vs SBIO | |
| SPDR S&P Biotech ETF | 94 | 11.10B | Feb 2006 | MDEV vs XBI | |
| iShares U.S. Pharmaceuticals ETF | 94 | 1.34B | May 2006 | MDEV vs IHE | |
| iShares Neuroscience and Healthcare ETF | 93 | 5.85M | Aug 2022 | MDEV vs IBRN |
Top Performing MDEV Alternatives (YTD)
MDEV is at -5.52% YTD. There are 61 ETFs in the Health & Biotech Equities category with higher YTD returns, going as high as 40.11%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| ARK Genomic Revolution Multi-Sector ETF | 40.11% | 1.31B | Oct 2014 | MDEV vs ARKG | |
| AdvisorShares Psychedelics ETF | 35.29% | 44.37M | Sep 2021 | MDEV vs PSIL | |
| Roundhill UNH WeeklyPay ETF | 34.33% | 6.01M | Dec 2025 | MDEV vs UNHW | |
| Virtus LifeSci Biotech Clinical Trials ETF | 33.14% | 57.56M | Dec 2014 | MDEV vs BBC | |
| ALPS Medical Breakthroughs ETF | 27.56% | 213.08M | Dec 2014 | MDEV vs SBIO |
Lowest Volatility Alternatives to MDEV
MDEV has 16.55% 1-year volatility. There are 17 ETFs in the Health & Biotech Equities category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Loncar Cancer Immunotherapy ETF | 0.00% | 12.73M | Oct 2015 | MDEV vs CNCR | |
| Amplify Treatments, Testing and Advancements ETF | 0.00% | 9.68M | Jun 2020 | MDEV vs GERM | |
| Horizon Kinetics SPAC Active ETF | 8.64% | 10.11M | Jun 2007 | MDEV vs SPAQ | |
| State Street Health Care Select Sector SPDR Premiu... | 10.87% | 16.78M | Jul 2025 | MDEV vs XLVI | |
| Milliman Healthcare Inflation Plus ETF | 11.73% | 982.35K | Apr 2026 | MDEV vs MHIP |
Lowest Drawdown Alternatives to MDEV
MDEV has a 1-year max drawdown of -18.13%. There are 44 ETFs in the Health & Biotech Equities category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Amplify Treatments, Testing and Advancements ETF | 0.00% | 9.68M | Jun 2020 | MDEV vs GERM | |
| Horizon Kinetics SPAC Active ETF | -4.32% | 10.11M | Jun 2007 | MDEV vs SPAQ | |
| First Trust Nasdaq Pharmaceuticals ETF | -7.47% | 36.36M | Sep 2016 | MDEV vs FTXH | |
| Invesco Nasdaq Biotechnology ETF | -8.34% | 74.65M | Jun 2021 | MDEV vs IBBQ | |
| iShares U.S. Pharmaceuticals ETF | -8.47% | 1.34B | May 2006 | MDEV vs IHE |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 categories. AUM among these funds goes as high as $14B.
Often Compared With MDEV
Investors most often compare MDEV with XHE, HTEC, IHI. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.
Compare MDEV with Any Fund or Stock
Compare MDEV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MDEV with funds that move differently
First Trust Indxx Medical Devices ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MDEV.
Explore MDEV Diversifiers