FBT.L vs. BTEC.L
FBT.L (First Trust NYSE Arca Biotechnology UCITS ETF Acc) and BTEC.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)) are both Health & Biotech Equities funds - FBT.L tracks the NASDAQ Biotechnology TR USD while BTEC.L tracks the NASDAQ Biotechnology NET Index. Both are passively managed. Over the past 5 years, FBT.L returned 8.78%/yr vs 6.09%/yr for BTEC.L. Their correlation of 0.86 suggests significant overlap in exposure. FBT.L charges 0.60%/yr vs 0.35%/yr for BTEC.L.
Performance
FBT.L vs. BTEC.L - Performance Comparison
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Different Trading Currencies
FBT.L is traded in GBp, while BTEC.L is traded in USD. To make them comparable, the BTEC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FBT.L achieves a 17.27% return, which is significantly higher than BTEC.L's 13.97% return.
FBT.L
- 1D
- -0.19%
- 1M
- 8.27%
- 6M
- 14.75%
- YTD
- 17.27%
- 1Y
- 49.02%
- 3Y*
- 15.75%
- 5Y*
- 8.78%
- 10Y*
- —
BTEC.L
- 1D
- 0.00%
- 1M
- 7.86%
- 6M
- 11.73%
- YTD
- 13.97%
- 1Y
- 47.71%
- 3Y*
- 15.40%
- 5Y*
- 6.09%
- 10Y*
- —
FBT.L vs. BTEC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FBT.L First Trust NYSE Arca Biotechnology UCITS ETF Acc | 17.27% | 17.28% | 6.52% | -1.81% | 5.32% | -2.57% | 7,473.50% |
BTEC.L iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) | 13.97% | 23.49% | -0.33% | 0.91% | -1.44% | 0.45% | 3.18% |
Correlation
The correlation between FBT.L and BTEC.L is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 20, 2020 | 0.86 |
The correlation between FBT.L and BTEC.L has been stable across timeframes, ranging from 0.83 to 0.86 - a consistent structural relationship.
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Return for Risk
FBT.L vs. BTEC.L — Risk / Return Rank
FBT.L
BTEC.L
FBT.L vs. BTEC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) and iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L). 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.
| FBT.L | BTEC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.37 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.53 | 6.45 | -2.92 |
| Martin ratioReturn relative to average drawdown | 9.57 | 18.57 | -8.99 |
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Drawdowns
FBT.L vs. BTEC.L - Drawdown Comparison
The maximum FBT.L drawdown since its inception was -30.39%, roughly equal to the maximum BTEC.L drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for FBT.L and BTEC.L.
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Drawdown Indicators
| FBT.L | BTEC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.39% | -31.02% | +0.63% |
Max Drawdown (1Y)Largest decline over 1 year | -13.81% | -7.31% | -6.50% |
Max Drawdown (3Y)Largest decline over 3 years | -24.59% | -26.37% | +1.78% |
Max Drawdown (5Y)Largest decline over 5 years | -24.59% | -31.02% | +6.43% |
Current DrawdownCurrent decline from peak | -4.56% | -5.72% | +1.16% |
Average DrawdownAverage peak-to-trough decline | -13.21% | -9.99% | -3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.11% | 2.54% | +2.57% |
Volatility
FBT.L vs. BTEC.L - Volatility Comparison
First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) has a higher volatility of 6.25% compared to iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) at 5.91%. This indicates that FBT.L's price experiences larger fluctuations and is considered to be riskier than BTEC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBT.L | BTEC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 5.91% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 15.78% | 15.31% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.92% | 20.42% | +0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.80% | 20.98% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,210.80% | 22.30% | +3,188.50% |
FBT.L vs. BTEC.L - Expense Ratio Comparison
FBT.L has a 0.60% expense ratio, which is higher than BTEC.L's 0.35% expense ratio.
Dividends
FBT.L vs. BTEC.L - Dividend Comparison
Neither FBT.L nor BTEC.L has paid dividends to shareholders.
Frequently Asked Questions
FBT.L and BTEC.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BTEC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTEC.L is cheaper with a 0.35% expense ratio, compared with 0.60% for FBT.L.
FBT.L tracks NASDAQ Biotechnology TR USD, while BTEC.L tracks NASDAQ Biotechnology NET Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for FBT.L and 0.35% for BTEC.L.
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