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FLM vs. XES
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLM vs. XES

Last updated Jun 24, 2026

FLM (First Trust Global Engineering and Construction ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both exchange-traded funds - FLM is a Building & Construction fund tracking the ISE Global Engineering & Construction Index, while XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. Both are passively managed. At a correlation of -0.31, they often move in opposite directions. FLM charges 0.70%/yr vs 0.35%/yr for XES.

Performance

FLM vs. XES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Engineering and Construction ETF (FLM) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

FLM

1D
-4.55%
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

XES

1D
-1.07%
1M
-12.19%
YTD
39.22%
6M
40.00%
1Y
79.49%
3Y*
17.82%
5Y*
12.58%
10Y*
-3.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLM vs. XES - Yearly Performance Comparison

2026 (YTD)
FLM
First Trust Global Engineering and Construction ETF		-4.55%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		-9.27%

Correlation

The correlation between FLM and XES is -0.31, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (All Time)
Calculated using the full available price history since Jun 5, 2026

-0.31

FLM vs. XES - Sectors Allocation Comparison

Sectors
FLM
XES

Industrials

37.1%
2.9%

Energy

8.1%
97.1%

Technology

7.9%

-

Basic Materials

7.4%

-

Real Estate

5.7%

-

Communication Services

0.7%

-

Utilities

0.7%

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

FLM
37.1%
XES
2.9%

Energy

FLM
8.1%
XES
97.1%

Technology

FLM
7.9%
XES

-

Basic Materials

FLM
7.4%
XES

-

Real Estate

FLM
5.7%
XES

-

Communication Services

FLM
0.7%
XES

-

Utilities

FLM
0.7%
XES

-

Consumer Cyclical

FLM

-

XES

-

Consumer Defensive

FLM

-

XES

-

Financial Services

FLM

-

XES

-

Healthcare

FLM

-

XES

-

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First Trust Global Engineering and Construction ETF

SPDR S&P Oil & Gas Equipment & Services ETF

Often compared with FLM:
FLM vs. VOOFLM vs. AIRRFLM vs. PKBFLM vs. XHBFLM vs. ITBFLM vs. FDLFLM vs. IGLD
Often compared with XES:
XES vs. OIHXES vs. XLEXES vs. IEZXES vs. PXJXES vs. PSCEXES vs. VDEXES vs. FENY

Return for Risk

FLM vs. XES — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

XES
XES Risk / Return Rank: 8282
Overall Rank
XES Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XES Sortino Ratio Rank: 7777
Sortino Ratio Rank
XES Omega Ratio Rank: 7171
Omega Ratio Rank
XES Calmar Ratio Rank: 9090
Calmar Ratio Rank
XES Martin Ratio Rank: 8989
Martin Ratio Rank
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.

FLM vs. XES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Engineering and Construction ETF (FLM) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.

FLMXESDifference
Sharpe ratioReturn per unit of total volatility

—

2.59

—

Sortino ratioReturn per unit of downside risk

—

3.23

—

Omega ratioGain probability vs. loss probability

—

1.40

—

Calmar ratioReturn relative to maximum drawdown

—

5.32

—

Martin ratioReturn relative to average drawdown

—

18.76

—

FLM vs. XES - Sharpe Ratio Comparison

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Drawdowns

FLM vs. XES - Drawdown Comparison

The maximum FLM drawdown since its inception was -4.55%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for FLM and XES.

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Drawdown Indicators

FLMXESDifference

Max Drawdown

Largest peak-to-trough decline

-4.55%

-95.65%

+91.10%

Max Drawdown (1Y)

Largest decline over 1 year

—

-15.03%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-45.95%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-45.95%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-91.23%

—

Current Drawdown

Current decline from peak

-4.55%

-73.11%

+68.56%

Average Drawdown

Average peak-to-trough decline

-2.27%

-54.40%

+52.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

4.25%

—

Volatility

FLM vs. XES - Volatility Comparison

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Volatility by Period

FLMXESDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

10.30%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

20.80%

—

Volatility (1Y)

Calculated over the trailing 1-year period

51.02%

31.19%

+19.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

51.02%

39.02%

+12.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

51.02%

44.96%

+6.06%

FLM vs. XES - Expense Ratio Comparison

FLM has a 0.70% expense ratio, which is higher than XES's 0.35% expense ratio.

Dividends

FLM vs. XES - Dividend Comparison

FLM has not paid dividends to shareholders, while XES's dividend yield for the trailing twelve months is around 1.15%.

PositionTTM20252024202320222021202020192018201720162015
FLM
First Trust Global Engineering and Construction ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
XES
SPDR S&P Oil & Gas Equipment & Services ETF		1.15%1.69%1.31%0.66%0.36%1.81%1.33%1.43%1.14%1.68%0.64%2.47%

Frequently Asked Questions

FLM and XES have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XES is cheaper with a 0.35% expense ratio, compared with 0.70% for FLM.

XES has the higher dividend yield at 1.15%, compared with 0.00% for FLM.

FLM is categorized as Building & Construction, while XES is Energy Equities. FLM tracks ISE Global Engineering & Construction Index, while XES tracks S&P Oil & Gas Equipment & Services Select Industry Index. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.70% for FLM and 0.35% for XES.

Portfolio Optimizer

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