AIRR vs. GRID

Last updated Jul 14, 2026

AIRR (First Trust RBA American Industrial Renaissance ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, AIRR returned 20.37%/yr vs 18.65%/yr for GRID. A 0.69 correlation means they provide meaningful diversification when combined. AIRR charges 0.69%/yr vs 0.70%/yr for GRID.

Performance

AIRR vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust RBA American Industrial Renaissance ETF (AIRR) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIRR achieves a 23.60% return, which is significantly higher than GRID's 19.10% return. Over the past 10 years, AIRR has outperformed GRID with an annualized return of 20.37%, while GRID has yielded a comparatively lower 18.65% annualized return.

AIRR

• 1D: -1.76%
• 1M: -6.18%
• 6M: 11.62%
• YTD: 23.60%
• 1Y: 43.19%
• 3Y*: 31.65%
• 5Y*: 25.07%
• 10Y*: 20.37%

GRID

• 1D: -1.86%
• 1M: -3.64%
• 6M: 16.16%
• YTD: 19.10%
• 1Y: 32.30%
• 3Y*: 20.54%
• 5Y*: 15.52%
• 10Y*: 18.65%

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

AIRR vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIRR First Trust RBA American Industrial Renaissance ETF	23.60%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	19.10%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between AIRR and GRID is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014	0.69

The correlation between AIRR and GRID shifts across timeframes, from 0.69 (all time) to 0.80 (5 years), reflecting how their relationship changes across market environments.

AIRR vs. GRID - Sectors Allocation Comparison

Sectors	AIRR	GRID
Industrials	80.8%	25.4%
Financial Services	9.6%	-
Energy	3.8%	1.6%
Basic Materials	1.9%	0.8%
Consumer Cyclical	1.9%	2.4%
Technology	0.7%	11.9%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	4.0%

Return for Risk

AIRR vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIRR

AIRR Risk / Return Rank: 66
AIRR Sharpe Ratio Rank: 60
AIRR Sortino Ratio Rank: 59
AIRR Omega Ratio Rank: 53
AIRR Calmar Ratio Rank: 79
AIRR Martin Ratio Rank: 77

GRID

GRID Risk / Return Rank: 58
GRID Sharpe Ratio Rank: 54
GRID Sortino Ratio Rank: 51
GRID Omega Ratio Rank: 52
GRID Calmar Ratio Rank: 69
GRID Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIRR vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust RBA American Industrial Renaissance ETF (AIRR) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	AIRR	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.48	+0.13
Sortino ratio: Return per unit of downside risk	2.22	2.01	+0.21
Omega ratio: Gain probability vs. loss probability	1.27	1.26	0.00
Calmar ratio: Return relative to maximum drawdown	3.32	2.77	+0.55
Martin ratio: Return relative to average drawdown	11.47	8.93	+2.54

AIRR vs. GRID - Sharpe Ratio Comparison

The current AIRR Sharpe Ratio is 1.60, which is comparable to the GRID Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of AIRR and GRID, 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

AIRR vs. GRID - Drawdown Comparison

The maximum AIRR drawdown since its inception was -42.37%, roughly equal to the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for AIRR and GRID.

Drawdown Indicators

	AIRR	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-42.37%	-40.56%	-1.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.09%	-11.73%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-27.95%	-20.77%	-7.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.95%	-29.64%	+1.69%
Max Drawdown (10Y) Largest decline over 10 years	-42.37%	-40.56%	-1.81%
Current Drawdown Current decline from peak	-8.86%	-8.84%	-0.02%
Average Drawdown Average peak-to-trough decline	-7.45%	-8.41%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.78%	3.63%	+0.15%

Volatility

AIRR vs. GRID - Volatility Comparison

First Trust RBA American Industrial Renaissance ETF (AIRR) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) have volatilities of 9.25% and 9.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIRR	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.25%	9.59%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	21.15%	19.12%	+2.03%
Volatility (1Y) Calculated over the trailing 1-year period	27.11%	22.00%	+5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.53%	21.51%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.35%	22.70%	+3.65%

AIRR vs. GRID - Expense Ratio Comparison

AIRR has a 0.69% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

AIRR vs. GRID - Dividend Comparison

AIRR's dividend yield for the trailing twelve months is around 0.09%, less than GRID's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.79%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both AIRR and GRID in my portfolio?

AIRR and GRID have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIRR or GRID?

GRID has higher volatility (9.59%) compared to AIRR (9.25%). In terms of maximum drawdown, AIRR dropped -42.37% vs GRID's -40.56%.

Which ETF is better, AIRR or GRID?

On 10-year performance, AIRR leads with 20.37% vs 18.65% for GRID. On fees, AIRR is cheaper at 0.69% per year. On volatility, AIRR has been the lower-risk option at 9.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIRR or GRID?

Over the 10-year period, AIRR has performed better with a 20.37% return vs 18.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIRR or GRID?

AIRR is cheaper with a 0.69% expense ratio, compared with 0.70% for GRID.

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

GRID has the higher dividend yield at 0.79%, compared with 0.09% for AIRR.

What is the main difference between AIRR and GRID?

AIRR is categorized as Building & Construction, while GRID is Alternative Energy Equities. AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. Their fees differ too: 0.69% for AIRR and 0.70% for GRID.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (1.60 vs 1.48), 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.