AGQI vs. AIRR

Last updated Aug 5, 2026

AGQI (First Trust Active Global Quality Income ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - AGQI is a Quality Factor fund actively managed by First Trust, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. AGQI is actively managed, while AIRR is passively managed. Over the past year, AGQI returned 23.90% vs 42.47% for AIRR. Their 0.64 correlation means they have sometimes moved together and sometimes differently. AGQI charges 0.85%/yr vs 0.69%/yr for AIRR.

Performance

AGQI vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Active Global Quality Income ETF (AGQI) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGQI achieves a 15.34% return, which is significantly lower than AIRR's 24.83% return.

AGQI

• 1D: 1.09%
• 1M: 3.24%
• 6M: 8.33%
• YTD: 15.34%
• 1Y: 23.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.20%

AIRR

• 1D: 2.00%
• 1M: -2.58%
• 6M: 6.33%
• YTD: 24.83%
• 1Y: 42.47%
• 3Y*: 31.89%
• 5Y*: 24.44%
• 10Y*: 20.41%
• ALL TIME*: 16.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGQI First Trust Active Global Quality Income ETF	$94.14K	$67.18K	$59.80K
AIRR First Trust RBA American Industrial Renaissance ETF	$88.17M	$87.12M	$91.57M

AGQI vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AGQI First Trust Active Global Quality Income ETF	15.34%	26.67%	2.98%	4.43%
AIRR First Trust RBA American Industrial Renaissance ETF	24.83%	27.92%	33.45%	13.46%

Correlation

The correlation between AGQI and AIRR is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Nov 21, 2023	0.64

The correlation between AGQI and AIRR has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.

AGQI vs. AIRR - Sectors Allocation Comparison

Sectors	AGQI	AIRR
Technology	21.6%	3.4%
Financial Services	15.4%	12.1%
Consumer Defensive	14.3%	-
Industrials	12.5%	77.6%
Consumer Cyclical	12.3%	1.9%
Healthcare	6.7%	-
Communication Services	6.1%	-
Basic Materials	4.8%	3.4%
Energy	4.0%	1.7%
Utilities	2.2%	-
Real Estate	-	-

Return for Risk

AGQI vs. AIRR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AGQI

AGQI Risk / Return Rank: 72
AGQI Sharpe Ratio Rank: 76
AGQI Sortino Ratio Rank: 73
AGQI Omega Ratio Rank: 76
AGQI Calmar Ratio Rank: 66
AGQI Martin Ratio Rank: 67

AIRR

AIRR Risk / Return Rank: 58
AIRR Sharpe Ratio Rank: 55
AIRR Sortino Ratio Rank: 53
AIRR Omega Ratio Rank: 49
AIRR Calmar Ratio Rank: 63
AIRR Martin Ratio Rank: 68

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AGQI vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Active Global Quality Income ETF (AGQI) and First Trust RBA American Industrial Renaissance ETF (AIRR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGQI	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.52	+0.44
Sortino ratio: Return per unit of downside risk	2.66	2.10	+0.56
Omega ratio: Gain probability vs. loss probability	1.35	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	2.62	2.48	+0.14
Martin ratio: Return relative to average drawdown	9.24	9.38	-0.14

AGQI vs. AIRR - Sharpe Ratio Comparison

The current AGQI Sharpe Ratio is 1.96, which is comparable to the AIRR Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of AGQI and AIRR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGQI vs. AIRR - Drawdown Comparison

The maximum AGQI drawdown since its inception was -14.07%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for AGQI and AIRR.

Drawdown Indicators

	AGQI	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-42.37%	+28.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-17.18%	+8.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.37%	—
Current Drawdown Current decline from peak	0.00%	-7.95%	+7.95%
Average Drawdown Average peak-to-trough decline	-2.12%	-7.47%	+5.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	4.54%	-1.95%

Volatility

AGQI vs. AIRR - Volatility Comparison

The current volatility for First Trust Active Global Quality Income ETF (AGQI) is 3.75%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 10.45%. This indicates that AGQI experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGQI	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	10.45%	-6.70%
Volatility (6M) Calculated over the trailing 6-month period	10.38%	22.41%	-12.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.30%	28.14%	-15.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.67%	25.74%	-13.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.67%	26.50%	-13.83%

AGQI vs. AIRR - Expense Ratio Comparison

AGQI has a 0.85% expense ratio, which is higher than AIRR's 0.69% expense ratio.

Dividends

AGQI vs. AIRR - Dividend Comparison

AGQI's dividend yield for the trailing twelve months is around 1.66%, more than AIRR's 0.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGQI First Trust Active Global Quality Income ETF	1.66%	2.54%	2.14%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
AIRR First Trust RBA American Industrial Renaissance ETF	0.09%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%

Frequently Asked Questions

Can I hold both AGQI and AIRR in my portfolio?

AGQI and AIRR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGQI or AIRR?

AIRR has higher volatility (10.45%) compared to AGQI (3.75%). In terms of maximum drawdown, AGQI dropped -14.07% vs AIRR's -42.37%.

Which ETF is better, AGQI or AIRR?

On 1-year performance, AIRR leads with 42.47% vs 23.90% for AGQI. On fees, AIRR is cheaper at 0.69% per year. On volatility, AGQI has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGQI or AIRR?

Over the 1-year period, AIRR has performed better with a 42.47% return vs 23.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGQI or AIRR?

AIRR is cheaper with a 0.69% expense ratio, compared with 0.85% for AGQI.

Which ETF pays a higher dividend yield, AGQI or AIRR?

AGQI has the higher dividend yield at 1.66%, compared with 0.09% for AIRR.

What is the main difference between AGQI and AIRR?

AGQI is categorized as Quality Factor, while AIRR is Building & Construction. Their fees differ too: 0.85% for AGQI and 0.69% for AIRR.

Which has better risk-adjusted returns?

AGQI currently has the higher Sharpe Ratio (1.96 vs 1.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.