FBT.L vs. UINC.L

Last updated Jul 16, 2026

FBT.L (First Trust NYSE Arca Biotechnology UCITS ETF Acc) and UINC.L (First Trust US Equity Income UCITS ETF) are both exchange-traded funds - FBT.L is a Health & Biotech Equities fund tracking the NASDAQ Biotechnology TR USD, while UINC.L is a Dividend fund tracking the First Trust US Equity Income UCITS ETF. Both are passively managed. Over the past 5 years, FBT.L returned 8.78%/yr vs 10.14%/yr for UINC.L. At a 0.34 correlation, their price movements are largely independent.

Performance

FBT.L vs. UINC.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 US Equity Income UCITS ETF (UINC.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FBT.L having a 17.27% return and UINC.L slightly lower at 16.69%.

FBT.L

• 1D: -0.19%
• 1M: 8.27%
• 6M: 14.75%
• YTD: 17.27%
• 1Y: 49.02%
• 3Y*: 15.75%
• 5Y*: 8.78%
• 10Y*: —

UINC.L

• 1D: -0.42%
• 1M: 1.33%
• 6M: 13.40%
• YTD: 16.69%
• 1Y: 22.27%
• 3Y*: 14.34%
• 5Y*: 10.14%
• 10Y*: 9.99%

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

FBT.L vs. UINC.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%
UINC.L First Trust US Equity Income UCITS ETF	16.69%	0.01%	8.49%	10.78%	4.24%	34.94%	26.56%

Correlation

The correlation between FBT.L and UINC.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since May 20, 2020	0.34

The correlation between FBT.L and UINC.L shifts across timeframes, from 0.18 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FBT.L vs. UINC.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: 82
FBT.L Sharpe Ratio Rank: 89
FBT.L Sortino Ratio Rank: 89
FBT.L Omega Ratio Rank: 84
FBT.L Calmar Ratio Rank: 82
FBT.L Martin Ratio Rank: 66

UINC.L

UINC.L Risk / Return Rank: 81
UINC.L Sharpe Ratio Rank: 77
UINC.L Sortino Ratio Rank: 79
UINC.L Omega Ratio Rank: 71
UINC.L Calmar Ratio Rank: 92
UINC.L Martin Ratio Rank: 85

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. UINC.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 US Equity Income UCITS ETF (UINC.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	UINC.L	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.95	+0.38
Sortino ratio: Return per unit of downside risk	3.34	2.83	+0.51
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	3.53	4.79	-1.26
Martin ratio: Return relative to average drawdown	9.57	13.50	-3.93

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

The current FBT.L Sharpe Ratio is 2.34, which is comparable to the UINC.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FBT.L and UINC.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.

Drawdowns

FBT.L vs. UINC.L - Drawdown Comparison

The maximum FBT.L drawdown since its inception was -30.39%, smaller than the maximum UINC.L drawdown of -38.33%. Use the drawdown chart below to compare losses from any high point for FBT.L and UINC.L.

Drawdown Indicators

	FBT.L	UINC.L	Difference
Max Drawdown Largest peak-to-trough decline	-30.39%	-38.33%	+7.94%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-5.10%	-8.71%
Max Drawdown (3Y) Largest decline over 3 years	-24.59%	-23.09%	-1.50%
Max Drawdown (5Y) Largest decline over 5 years	-24.59%	-23.09%	-1.50%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.33%	—
Current Drawdown Current decline from peak	-4.56%	-0.88%	-3.68%
Average Drawdown Average peak-to-trough decline	-13.21%	-8.26%	-4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	1.81%	+3.30%

Volatility

FBT.L vs. UINC.L - Volatility Comparison

First Trust NYSE Arca Biotechnology UCITS ETF Acc (FBT.L) has a higher volatility of 6.25% compared to First Trust US Equity Income UCITS ETF (UINC.L) at 3.50%. This indicates that FBT.L's price experiences larger fluctuations and is considered to be riskier than UINC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBT.L	UINC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.25%	3.50%	+2.75%
Volatility (6M) Calculated over the trailing 6-month period	15.78%	9.01%	+6.77%
Volatility (1Y) Calculated over the trailing 1-year period	20.92%	12.64%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.80%	16.74%	+7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,210.80%	19.57%	+3,191.23%

Dividends

FBT.L vs. UINC.L - Dividend Comparison

FBT.L has not paid dividends to shareholders, while UINC.L's dividend yield for the trailing twelve months is around 2.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FBT.L First Trust NYSE Arca Biotechnology UCITS ETF Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UINC.L First Trust US Equity Income UCITS ETF	2.82%	3.03%	2.84%	3.20%	3.25%	2.15%	3.40%	3.14%	3.01%	2.49%	1.60%

Frequently Asked Questions

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

FBT.L and UINC.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

FBT.L is categorized as Health & Biotech Equities, while UINC.L is Dividend. FBT.L tracks NASDAQ Biotechnology TR USD, while UINC.L tracks First Trust US Equity Income UCITS ETF.