FBT.L vs. CAPS.L

Last updated Jun 4, 2026

FBT.L (First Trust NYSE Arca Biotechnology UCITS ETF Acc) and CAPS.L (First Trust Capital Strength UCITS ETF Acc) are both exchange-traded funds - FBT.L is a Health & Biotech Equities fund tracking the NASDAQ Biotechnology TR USD, while CAPS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, FBT.L returned 7.17%/yr vs 6.26%/yr for CAPS.L. At a 0.30 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

FBT.L vs. CAPS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) and First Trust Capital Strength UCITS ETF Acc (CAPS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBT.L achieves a 4.41% return, which is significantly higher than CAPS.L's -0.55% return.

FBT.L

• 1D: 1.98%
• 1M: 8.09%
• YTD: 4.41%
• 6M: 1.93%
• 1Y: 34.35%
• 3Y*: 9.80%
• 5Y*: 7.17%
• 10Y*: —

CAPS.L

• 1D: 0.73%
• 1M: -0.30%
• YTD: -0.55%
• 6M: -0.38%
• 1Y: 3.20%
• 3Y*: 6.55%
• 5Y*: 6.26%
• 10Y*: —

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

FBT.L vs. CAPS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FBT.L First Trust NYSE Arca Biotechnology UCITS ETF Acc	4.41%	17.24%	7.13%	-0.99%	3.88%	5.42%
CAPS.L First Trust Capital Strength UCITS ETF Acc	-0.55%	-0.65%	12.99%	2.23%	0.10%	19.38%

Correlation

The correlation between FBT.L and CAPS.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 3, 2021	0.30

Return for Risk

FBT.L vs. CAPS.L — Risk / Return Rank

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

FBT.L

FBT.L Risk / Return Rank: 48
FBT.L Sharpe Ratio Rank: 49
FBT.L Sortino Ratio Rank: 52
FBT.L Omega Ratio Rank: 46
FBT.L Calmar Ratio Rank: 50
FBT.L Martin Ratio Rank: 41

CAPS.L

CAPS.L Risk / Return Rank: 13
CAPS.L Sharpe Ratio Rank: 14
CAPS.L Sortino Ratio Rank: 13
CAPS.L Omega Ratio Rank: 13
CAPS.L Calmar Ratio Rank: 13
CAPS.L Martin Ratio Rank: 14

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.

FBT.L vs. CAPS.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 First Trust Capital Strength UCITS ETF Acc (CAPS.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.

	FBT.L	CAPS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.70	0.33	+1.37
Sortino ratio: Return per unit of downside risk	2.52	0.55	+1.97
Omega ratio: Gain probability vs. loss probability	1.29	1.06	+0.23
Calmar ratio: Return relative to maximum drawdown	2.48	0.36	+2.12
Martin ratio: Return relative to average drawdown	6.60	1.02	+5.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBT.L vs. CAPS.L - Sharpe Ratio Comparison

The current FBT.L Sharpe Ratio is 1.70, which is higher than the CAPS.L Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of FBT.L and CAPS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBT.L	CAPS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	0.33	+1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.33	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.33	-0.07

Drawdowns

FBT.L vs. CAPS.L - Drawdown Comparison

The maximum FBT.L drawdown since its inception was -30.39%, which is greater than CAPS.L's maximum drawdown of -22.86%. Use the drawdown chart below to compare losses from any high point for FBT.L and CAPS.L.

Drawdown Indicators

	FBT.L	CAPS.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.39%	-22.86%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-8.95%	-4.86%
Max Drawdown (3Y) Largest decline over 3 years	-23.70%	-22.86%	-0.84%
Max Drawdown (5Y) Largest decline over 5 years	-23.70%	-22.86%	-0.84%
Current Drawdown Current decline from peak	-1.97%	-16.47%	+14.50%
Average Drawdown Average peak-to-trough decline	-13.45%	-10.21%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	3.14%	+2.05%

Volatility

FBT.L vs. CAPS.L - Volatility Comparison

First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) has a higher volatility of 6.10% compared to First Trust Capital Strength UCITS ETF Acc (CAPS.L) at 3.70%. This indicates that FBT.L's price experiences larger fluctuations and is considered to be riskier than CAPS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBT.L	CAPS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.10%	3.70%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	15.02%	7.09%	+7.93%
Volatility (1Y) Calculated over the trailing 1-year period	20.11%	9.78%	+10.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.49%	19.27%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	19.27%	+4.59%

FBT.L vs. CAPS.L - Expense Ratio Comparison

Both FBT.L and CAPS.L have an expense ratio of 0.60%.

Dividends

FBT.L vs. CAPS.L - Dividend Comparison

Neither FBT.L nor CAPS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FBT.L and CAPS.L in my portfolio?

FBT.L and CAPS.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBT.L or CAPS.L?

Both ETFs have the same 0.60% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBT.L or CAPS.L?

FBT.L and CAPS.L have the same expense ratio: 0.60% per year.

What is the main difference between FBT.L and CAPS.L?

FBT.L is categorized as Health & Biotech Equities, while CAPS.L is Large Cap Blend Equities. FBT.L tracks NASDAQ Biotechnology TR USD, while CAPS.L tracks Russell 1000 TR USD.