EKG vs. AIRR

Last updated Jun 25, 2026

EKG (First Trust Nasdaq Lux Digital Health Solutions ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - EKG is a Health & Biotech Equities fund tracking the NASDAQ Lux Health Tech Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 3 years, EKG returned 0.88%/yr vs 37.01%/yr for AIRR. A 0.57 correlation means they provide meaningful diversification when combined. EKG charges 0.65%/yr vs 0.69%/yr for AIRR.

Performance

EKG vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) 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, EKG achieves a -4.18% return, which is significantly lower than AIRR's 32.79% return.

EKG

• 1D: 3.43%
• 1M: 9.19%
• YTD: -4.18%
• 6M: -5.58%
• 1Y: 4.48%
• 3Y*: 0.88%
• 5Y*: —
• 10Y*: —

AIRR

• 1D: 0.74%
• 1M: 4.33%
• YTD: 32.79%
• 6M: 28.48%
• 1Y: 62.89%
• 3Y*: 37.01%
• 5Y*: 26.09%
• 10Y*: 22.14%

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

EKG vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EKG First Trust Nasdaq Lux Digital Health Solutions ETF	-4.18%	11.89%	6.53%	-0.11%	-20.15%
AIRR First Trust RBA American Industrial Renaissance ETF	32.79%	27.92%	33.45%	31.43%	0.81%

Correlation

The correlation between EKG and AIRR is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Mar 23, 2022	0.57

The correlation between EKG and AIRR shifts across timeframes, from 0.42 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

EKG vs. AIRR - Sectors Allocation Comparison

Sectors	EKG	AIRR
Healthcare	94.9%	-
Technology	2.6%	0.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	3.8%
Financial Services	-	6.9%
Industrials	-	92.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

EKG vs. AIRR — Risk / Return Rank

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

EKG

EKG Risk / Return Rank: 11
EKG Sharpe Ratio Rank: 12
EKG Sortino Ratio Rank: 11
EKG Omega Ratio Rank: 11
EKG Calmar Ratio Rank: 11
EKG Martin Ratio Rank: 11

AIRR

AIRR Risk / Return Rank: 82
AIRR Sharpe Ratio Rank: 83
AIRR Sortino Ratio Rank: 77
AIRR Omega Ratio Rank: 72
AIRR Calmar Ratio Rank: 89
AIRR Martin Ratio Rank: 89

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.

EKG vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) 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.

	EKG	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	0.20	2.40	-2.20
Sortino ratio: Return per unit of downside risk	0.44	3.10	-2.66
Omega ratio: Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio: Return relative to maximum drawdown	0.20	4.83	-4.63
Martin ratio: Return relative to average drawdown	0.44	17.62	-17.18

EKG vs. AIRR - Sharpe Ratio Comparison

The current EKG Sharpe Ratio is 0.20, which is lower than the AIRR Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of EKG 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

EKG vs. AIRR - Drawdown Comparison

The maximum EKG drawdown since its inception was -43.82%, roughly equal to the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for EKG and AIRR.

Drawdown Indicators

	EKG	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-43.82%	-42.37%	-1.45%
Max Drawdown (1Y) Largest decline over 1 year	-22.09%	-13.09%	-9.00%
Max Drawdown (3Y) Largest decline over 3 years	-34.49%	-27.95%	-6.54%
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	-15.56%	-2.08%	-13.48%
Average Drawdown Average peak-to-trough decline	-22.59%	-7.46%	-15.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.19%	3.58%	+6.61%

Volatility

EKG vs. AIRR - Volatility Comparison

First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) and First Trust RBA American Industrial Renaissance ETF (AIRR) have volatilities of 8.59% and 8.81%, 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

	EKG	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.59%	8.81%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	17.85%	20.61%	-2.76%
Volatility (1Y) Calculated over the trailing 1-year period	22.47%	26.36%	-3.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.12%	25.43%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.12%	26.33%	+0.79%

EKG vs. AIRR - Expense Ratio Comparison

EKG has a 0.65% expense ratio, which is lower than AIRR's 0.69% expense ratio.

Dividends

EKG vs. AIRR - Dividend Comparison

EKG has not paid dividends to shareholders, while AIRR's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
EKG First Trust Nasdaq Lux Digital Health Solutions ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EKG and AIRR in my portfolio?

EKG and AIRR have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EKG or AIRR?

AIRR has higher volatility (8.81%) compared to EKG (8.59%). In terms of maximum drawdown, EKG dropped -43.82% vs AIRR's -42.37%.

Which ETF is better, EKG or AIRR?

On 3-year performance, AIRR leads with 37.01% vs 0.88% for EKG. On fees, EKG is cheaper at 0.65% per year. On volatility, EKG has been the lower-risk option at 8.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EKG or AIRR?

Over the 3-year period, AIRR has performed better with a 37.01% return vs 0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EKG or AIRR?

EKG is cheaper with a 0.65% expense ratio, compared with 0.69% for AIRR.

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

AIRR has the higher dividend yield at 0.13%, compared with 0.00% for EKG.

What is the main difference between EKG and AIRR?

EKG is categorized as Health & Biotech Equities, while AIRR is Building & Construction. EKG tracks NASDAQ Lux Health Tech Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. Their fees differ too: 0.65% for EKG and 0.69% for AIRR.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.40 vs 0.20), 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.