FCVT vs. FTXL
FCVT (First Trust SSI Strategic Convertible Securities ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FCVT is a Preferred Stock/Convertible Bonds fund actively managed by First Trust, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. FCVT is actively managed, while FTXL is passively managed. Over the past 5 years, FCVT returned 6.54%/yr vs 33.21%/yr for FTXL. A 0.67 correlation means they provide meaningful diversification when combined. FCVT charges 0.95%/yr vs 0.60%/yr for FTXL.
Performance
FCVT vs. FTXL - Performance Comparison
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Returns By Period
In the year-to-date period, FCVT achieves a 23.75% return, which is significantly lower than FTXL's 109.64% return.
FCVT
- 1D
- -0.80%
- 1M
- 2.17%
- YTD
- 23.75%
- 6M
- 21.67%
- 1Y
- 41.58%
- 3Y*
- 20.32%
- 5Y*
- 6.54%
- 10Y*
- 11.97%
FTXL
- 1D
- -0.65%
- 1M
- 9.52%
- YTD
- 109.64%
- 6M
- 106.11%
- 1Y
- 187.31%
- 3Y*
- 59.62%
- 5Y*
- 33.21%
- 10Y*
- —
FCVT vs. FTXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 23.75% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -2.28% | 12.66% |
FTXL First Trust Nasdaq Semiconductor ETF | 109.64% | 48.94% | 7.59% | 54.41% | -33.88% | 36.04% | 46.08% | 61.77% | -14.47% | 32.19% |
Correlation
The correlation between FCVT and FTXL is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016 | 0.67 |
The correlation between FCVT and FTXL has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.
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Return for Risk
FCVT vs. FTXL — Risk / Return Rank
FCVT
FTXL
FCVT vs. FTXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) and First Trust Nasdaq Semiconductor ETF (FTXL). 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.
| FCVT | FTXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.61 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 12.99 | -8.06 |
| Martin ratioReturn relative to average drawdown | 17.37 | 44.59 | -27.23 |
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Drawdowns
FCVT vs. FTXL - Drawdown Comparison
The maximum FCVT drawdown since its inception was -31.79%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FCVT and FTXL.
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Drawdown Indicators
| FCVT | FTXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.79% | -43.87% | +12.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -14.51% | +6.04% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -41.57% | +26.51% |
Max Drawdown (5Y)Largest decline over 5 years | -30.43% | -43.87% | +13.44% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | — | — |
Current DrawdownCurrent decline from peak | -3.07% | -8.59% | +5.52% |
Average DrawdownAverage peak-to-trough decline | -10.32% | -10.53% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 4.22% | -1.82% |
Volatility
FCVT vs. FTXL - Volatility Comparison
The current volatility for First Trust SSI Strategic Convertible Securities ETF (FCVT) is 7.33%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 22.63%. This indicates that FCVT experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVT | FTXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.33% | 22.63% | -15.30% |
Volatility (6M)Calculated over the trailing 6-month period | 14.20% | 34.58% | -20.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.21% | 40.92% | -23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.37% | 37.11% | -22.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 34.76% | -19.77% |
FCVT vs. FTXL - Expense Ratio Comparison
FCVT has a 0.95% expense ratio, which is higher than FTXL's 0.60% expense ratio.
Dividends
FCVT vs. FTXL - Dividend Comparison
FCVT's dividend yield for the trailing twelve months is around 1.21%, more than FTXL's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.21% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
FTXL First Trust Nasdaq Semiconductor ETF | 0.13% | 0.28% | 0.54% | 0.60% | 0.89% | 0.25% | 0.48% | 0.92% | 0.71% | 0.47% | 0.12% | 0.00% |
Frequently Asked Questions
FCVT and FTXL have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTXL has higher volatility (22.63%) compared to FCVT (7.33%). In terms of maximum drawdown, FCVT dropped -31.79% vs FTXL's -43.87%.
On 5-year performance, FTXL leads with 33.21% vs 6.54% for FCVT. On fees, FTXL is cheaper at 0.60% per year. On volatility, FCVT has been the lower-risk option at 7.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTXL has performed better with a 33.21% return vs 6.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXL is cheaper with a 0.60% expense ratio, compared with 0.95% for FCVT.
FCVT has the higher dividend yield at 1.21%, compared with 0.13% for FTXL.
FCVT is categorized as Preferred Stock/Convertible Bonds, while FTXL is Semiconductors. Their fees differ too: 0.95% for FCVT and 0.60% for FTXL.
FTXL currently has the higher Sharpe Ratio (4.62 vs 2.43), 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.
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