FIW vs. CIBR

Last updated Jun 4, 2026

FIW (First Trust Water ETF) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - FIW is a Water Equities fund tracking the ISE Clean Edge Water Index, while CIBR is a Technology Equities fund tracking the Nasdaq CTA Cybersecurity Index. Both are passively managed. Over the past 10 years, FIW returned 12.18%/yr vs 18.49%/yr for CIBR. A 0.59 correlation means they provide meaningful diversification when combined. FIW charges 0.54%/yr vs 0.60%/yr for CIBR.

Performance

FIW vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Water ETF (FIW) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIW achieves a -3.78% return, which is significantly lower than CIBR's 28.52% return. Over the past 10 years, FIW has underperformed CIBR with an annualized return of 12.18%, while CIBR has yielded a comparatively higher 18.49% annualized return.

FIW

• 1D: 0.28%
• 1M: -0.84%
• YTD: -3.78%
• 6M: -6.34%
• 1Y: -2.02%
• 3Y*: 7.84%
• 5Y*: 5.36%
• 10Y*: 12.18%

CIBR

• 1D: -2.81%
• 1M: 31.43%
• YTD: 28.52%
• 6M: 24.03%
• 1Y: 25.78%
• 3Y*: 28.32%
• 5Y*: 16.28%
• 10Y*: 18.49%

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

FIW vs. CIBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIW First Trust Water ETF	-3.78%	7.20%	8.38%	20.35%	-15.70%	32.00%	21.15%	37.37%	-9.23%	24.69%
CIBR First Trust NASDAQ Cybersecurity ETF	28.52%	13.06%	18.21%	39.71%	-26.46%	19.67%	50.53%	28.52%	1.47%	18.61%

Correlation

The correlation between FIW and CIBR is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015	0.59

Over the past year, the correlation between FIW and CIBR has dropped to 0.30 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

FIW vs. CIBR - Sectors Allocation Comparison

Sectors	FIW	CIBR
Industrials	54.1%	3.5%
Utilities	16.2%	-
Healthcare	8.1%	-
Technology	8.1%	94.0%
Basic Materials	5.4%	-
Consumer Cyclical	2.7%	-
Consumer Defensive	2.7%	-
Communication Services	-	2.6%
Energy	-	-
Financial Services	-	-
Real Estate	-	-

Return for Risk

FIW vs. CIBR — Risk / Return Rank

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

FIW

FIW Risk / Return Rank: 7
FIW Sharpe Ratio Rank: 7
FIW Sortino Ratio Rank: 7
FIW Omega Ratio Rank: 7
FIW Calmar Ratio Rank: 7
FIW Martin Ratio Rank: 7

CIBR

CIBR Risk / Return Rank: 26
CIBR Sharpe Ratio Rank: 29
CIBR Sortino Ratio Rank: 28
CIBR Omega Ratio Rank: 29
CIBR Calmar Ratio Rank: 24
CIBR Martin Ratio Rank: 22

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.

FIW vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Water ETF (FIW) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	FIW	CIBR	Difference
Sharpe ratio Return per unit of total volatility	-0.13	1.06	-1.19
Sortino ratio Return per unit of downside risk	-0.08	1.56	-1.65
Omega ratio Gain probability vs. loss probability	0.99	1.20	-0.21
Calmar ratio Return relative to maximum drawdown	-0.15	1.18	-1.32
Martin ratio Return relative to average drawdown	-0.38	2.79	-3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIW vs. CIBR - Sharpe Ratio Comparison

The current FIW Sharpe Ratio is -0.13, which is lower than the CIBR Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of FIW and CIBR, 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

	FIW	CIBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.13	1.06	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.66	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.79	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.67	-0.23

Drawdowns

FIW vs. CIBR - Drawdown Comparison

The maximum FIW drawdown since its inception was -52.75%, which is greater than CIBR's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for FIW and CIBR.

Drawdown Indicators

	FIW	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-52.75%	-33.89%	-18.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-21.99%	+8.18%
Max Drawdown (3Y) Largest decline over 3 years	-18.32%	-21.99%	+3.67%
Max Drawdown (5Y) Largest decline over 5 years	-28.53%	-33.89%	+5.36%
Max Drawdown (10Y) Largest decline over 10 years	-36.60%	-33.89%	-2.71%
Current Drawdown Current decline from peak	-9.76%	-2.81%	-6.95%
Average Drawdown Average peak-to-trough decline	-8.30%	-8.66%	+0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.33%	9.25%	-3.92%

Volatility

FIW vs. CIBR - Volatility Comparison

The current volatility for First Trust Water ETF (FIW) is 4.45%, while First Trust NASDAQ Cybersecurity ETF (CIBR) has a volatility of 10.90%. This indicates that FIW experiences smaller price fluctuations and is considered to be less risky than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIW	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.45%	10.90%	-6.45%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	20.90%	-9.48%
Volatility (1Y) Calculated over the trailing 1-year period	15.50%	24.50%	-9.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	24.95%	-6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	23.60%	-3.70%

FIW vs. CIBR - Expense Ratio Comparison

FIW has a 0.54% expense ratio, which is lower than CIBR's 0.60% expense ratio.

Dividends

FIW vs. CIBR - Dividend Comparison

FIW's dividend yield for the trailing twelve months is around 0.79%, more than CIBR's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.45%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
FIW First Trust Water ETF	0.79%	0.69%	0.69%	0.68%	0.67%	0.37%	0.56%	0.55%	0.73%	1.13%	0.51%	0.76%

Frequently Asked Questions

Can I hold both FIW and CIBR in my portfolio?

FIW and CIBR have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIW or CIBR?

CIBR has higher volatility (10.90%) compared to FIW (4.45%). In terms of maximum drawdown, FIW dropped -52.75% vs CIBR's -33.89%.

Which ETF is better, FIW or CIBR?

On 10-year performance, CIBR leads with 18.49% vs 12.18% for FIW. On fees, FIW is cheaper at 0.54% per year. On volatility, FIW has been the lower-risk option at 4.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIW or CIBR?

Over the 10-year period, CIBR has performed better with a 18.49% return vs 12.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIW or CIBR?

FIW is cheaper with a 0.54% expense ratio, compared with 0.60% for CIBR.

Which ETF pays a higher dividend yield, FIW or CIBR?

FIW has the higher dividend yield at 0.79%, compared with 0.45% for CIBR.

What is the main difference between FIW and CIBR?

FIW is categorized as Water Equities, while CIBR is Technology Equities. FIW tracks ISE Clean Edge Water Index, while CIBR tracks Nasdaq CTA Cybersecurity Index. Their fees differ too: 0.54% for FIW and 0.60% for CIBR.

Which has better risk-adjusted returns?

CIBR currently has the higher Sharpe Ratio (1.06 vs -0.13), 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.