FBTU.L vs. XLVI

Last updated Jun 5, 2026

FBTU.L (First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - FBTU.L is a Health & Biotech Equities fund managed by First Trust, while XLVI is a Derivative Income fund actively managed by State Street. At a 0.47 correlation, their price movements are largely independent. FBTU.L charges 0.60%/yr vs 0.35%/yr for XLVI.

Performance

FBTU.L vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating (FBTU.L) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTU.L achieves a 8.73% return, which is significantly higher than XLVI's 1.35% return.

FBTU.L

• 1D: 4.34%
• 1M: 9.71%
• YTD: 8.73%
• 6M: 6.95%
• 1Y: 38.25%
• 3Y*: 13.28%
• 5Y*: 6.94%
• 10Y*: —

XLVI

• 1D: 2.03%
• 1M: 4.01%
• YTD: 1.35%
• 6M: 3.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBTU.L vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
FBTU.L First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating	8.73%	24.37%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	1.35%	12.79%

Correlation

The correlation between FBTU.L and XLVI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.47

FBTU.L vs. XLVI - Sectors Allocation Comparison

Sectors	FBTU.L	XLVI
Healthcare	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FBTU.L vs. XLVI — Risk / Return Rank

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

FBTU.L

FBTU.L Risk / Return Rank: 52
FBTU.L Sharpe Ratio Rank: 54
FBTU.L Sortino Ratio Rank: 57
FBTU.L Omega Ratio Rank: 49
FBTU.L Calmar Ratio Rank: 55
FBTU.L Martin Ratio Rank: 45

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.

FBTU.L vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating (FBTU.L) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). 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.

	FBTU.L	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.66	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.66	—	—
Martin ratio: Return relative to average drawdown	7.17	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FBTU.L	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	1.54	-1.27

Drawdowns

FBTU.L vs. XLVI - Drawdown Comparison

The maximum FBTU.L drawdown since its inception was -33.73%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for FBTU.L and XLVI.

Drawdown Indicators

	FBTU.L	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-33.73%	-8.14%	-25.59%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	—	—
Current Drawdown Current decline from peak	0.00%	-2.08%	+2.08%
Average Drawdown Average peak-to-trough decline	-13.11%	-1.95%	-11.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	—	—

Volatility

Volatility by Period

	FBTU.L	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.31%	11.12%	+10.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	11.12%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.38%	11.12%	+10.26%

FBTU.L vs. XLVI - Expense Ratio Comparison

FBTU.L has a 0.60% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

FBTU.L vs. XLVI - Dividend Comparison

FBTU.L has not paid dividends to shareholders, while XLVI's dividend yield for the trailing twelve months is around 11.30%.

Position	TTM	2025
FBTU.L First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating	0.00%	0.00%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.30%	5.73%

Frequently Asked Questions

Can I hold both FBTU.L and XLVI in my portfolio?

FBTU.L and XLVI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBTU.L or XLVI?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBTU.L or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.60% for FBTU.L.

What is the main difference between FBTU.L and XLVI?

FBTU.L is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for FBTU.L and 0.35% for XLVI.