FBT vs. KNG

Last updated Jun 4, 2026

FBT (First Trust Amex Biotechnology Index) and KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - FBT is a Health & Biotech Equities fund tracking the NYSE Arca Biotechnology Index, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Both are passively managed. Over the past 5 years, FBT returned 6.79%/yr vs 4.31%/yr for KNG. A 0.51 correlation means they provide meaningful diversification when combined. FBT charges 0.57%/yr vs 0.75%/yr for KNG.

Performance

FBT vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Amex Biotechnology Index (FBT) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBT achieves a 7.08% return, which is significantly higher than KNG's 2.20% return.

FBT

• 1D: 2.92%
• 1M: 6.19%
• YTD: 7.08%
• 6M: 3.95%
• 1Y: 35.94%
• 3Y*: 12.40%
• 5Y*: 6.79%
• 10Y*: 8.86%

KNG

• 1D: -0.04%
• 1M: 0.89%
• YTD: 2.20%
• 6M: 2.33%
• 1Y: 7.44%
• 3Y*: 7.06%
• 5Y*: 4.31%
• 10Y*: —

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

FBT vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FBT First Trust Amex Biotechnology Index	7.08%	24.25%	5.88%	2.55%	-4.83%	-2.26%	12.96%	19.74%	-5.92%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	2.20%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-0.84%

Correlation

The correlation between FBT and KNG is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 28, 2018	0.51

The correlation between FBT and KNG has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.

FBT vs. KNG - Sectors Allocation Comparison

Sectors	FBT	KNG
Healthcare	100.0%	10.1%
Basic Materials	-	10.2%
Communication Services	-	-
Consumer Cyclical	-	5.5%
Consumer Defensive	-	23.5%
Energy	-	3.0%
Financial Services	-	12.7%
Industrials	-	20.3%
Real Estate	-	4.4%
Technology	-	4.3%
Utilities	-	6.1%

Return for Risk

FBT vs. KNG — Risk / Return Rank

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

FBT

FBT Risk / Return Rank: 49
FBT Sharpe Ratio Rank: 50
FBT Sortino Ratio Rank: 52
FBT Omega Ratio Rank: 48
FBT Calmar Ratio Rank: 52
FBT Martin Ratio Rank: 45

KNG

KNG Risk / Return Rank: 20
KNG Sharpe Ratio Rank: 21
KNG Sortino Ratio Rank: 21
KNG Omega Ratio Rank: 19
KNG Calmar Ratio Rank: 20
KNG Martin Ratio Rank: 19

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 vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Amex Biotechnology Index (FBT) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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	KNG	Difference
Sharpe ratio: Return per unit of total volatility	1.74	0.73	+1.00
Sortino ratio: Return per unit of downside risk	2.56	1.15	+1.41
Omega ratio: Gain probability vs. loss probability	1.31	1.13	+0.18
Calmar ratio: Return relative to maximum drawdown	2.53	0.87	+1.66
Martin ratio: Return relative to average drawdown	7.43	2.25	+5.18
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 vs. KNG - Sharpe Ratio Comparison

The current FBT Sharpe Ratio is 1.74, which is higher than the KNG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of FBT and KNG, 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	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	0.73	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.32	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.49	+0.02

Drawdowns

FBT vs. KNG - Drawdown Comparison

The maximum FBT drawdown since its inception was -40.51%, which is greater than KNG's maximum drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for FBT and KNG.

Drawdown Indicators

	FBT	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-40.51%	-35.12%	-5.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.26%	-8.61%	-5.65%
Max Drawdown (3Y) Largest decline over 3 years	-20.05%	-14.24%	-5.81%
Max Drawdown (5Y) Largest decline over 5 years	-29.05%	-18.20%	-10.85%
Max Drawdown (10Y) Largest decline over 10 years	-32.37%	—	—
Current Drawdown Current decline from peak	-0.72%	-5.89%	+5.17%
Average Drawdown Average peak-to-trough decline	-11.17%	-4.13%	-7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.85%	3.32%	+1.53%

Volatility

FBT vs. KNG - Volatility Comparison

First Trust Amex Biotechnology Index (FBT) has a higher volatility of 6.94% compared to FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) at 2.29%. This indicates that FBT's price experiences larger fluctuations and is considered to be riskier than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBT	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	2.29%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	15.87%	7.39%	+8.48%
Volatility (1Y) Calculated over the trailing 1-year period	20.79%	10.19%	+10.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.89%	13.59%	+8.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.91%	17.18%	+6.73%

FBT vs. KNG - Expense Ratio Comparison

FBT has a 0.57% expense ratio, which is lower than KNG's 0.75% expense ratio.

Dividends

FBT vs. KNG - Dividend Comparison

FBT has not paid dividends to shareholders, while KNG's dividend yield for the trailing twelve months is around 8.67%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBT First Trust Amex Biotechnology Index	0.00%	0.00%	0.71%	0.00%	0.00%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBT and KNG in my portfolio?

FBT and KNG have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBT or KNG?

FBT has higher volatility (6.94%) compared to KNG (2.29%). In terms of maximum drawdown, FBT dropped -40.51% vs KNG's -35.12%.

Which ETF is better, FBT or KNG?

On 5-year performance, FBT leads with 6.79% vs 4.31% for KNG. On fees, FBT is cheaper at 0.57% per year. On volatility, KNG has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBT or KNG?

Over the 5-year period, FBT has performed better with a 6.79% return vs 4.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBT or KNG?

FBT is cheaper with a 0.57% expense ratio, compared with 0.75% for KNG.

Which ETF pays a higher dividend yield, FBT or KNG?

KNG has the higher dividend yield at 8.67%, compared with 0.00% for FBT.

What is the main difference between FBT and KNG?

FBT is categorized as Health & Biotech Equities, while KNG is Dividend. FBT tracks NYSE Arca Biotechnology Index, while KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Their fees differ too: 0.57% for FBT and 0.75% for KNG.

Which has better risk-adjusted returns?

FBT currently has the higher Sharpe Ratio (1.74 vs 0.73), 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.