FMTL vs. AIRR

Last updated Jun 6, 2026

FMTL (First Trust Indxx Critical Metals ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - FMTL is a Commodity Producers Equities fund tracking the Indxx Global Critical Metals Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance (TR). Both are passively managed. A 0.57 correlation means they provide meaningful diversification when combined. FMTL charges 0.65%/yr vs 0.70%/yr for AIRR.

Performance

FMTL vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Critical Metals ETF (FMTL) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMTL achieves a 19.55% return, which is significantly lower than AIRR's 30.23% return.

FMTL

• 1D: -7.48%
• 1M: -6.16%
• YTD: 19.55%
• 6M: 28.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIRR

• 1D: -2.91%
• 1M: -3.01%
• YTD: 30.23%
• 6M: 29.36%
• 1Y: 63.82%
• 3Y*: 36.09%
• 5Y*: 25.11%
• 10Y*: 21.45%

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

FMTL vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025
FMTL First Trust Indxx Critical Metals ETF	19.55%	21.20%
AIRR First Trust RBA American Industrial Renaissance ETF	30.23%	-0.33%

Correlation

The correlation between FMTL and AIRR is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 6, 2025	0.57

Return for Risk

FMTL vs. AIRR — Risk / Return Rank

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

AIRR

AIRR Risk / Return Rank: 79
AIRR Sharpe Ratio Rank: 80
AIRR Sortino Ratio Rank: 74
AIRR Omega Ratio Rank: 68
AIRR Calmar Ratio Rank: 87
AIRR Martin Ratio Rank: 87

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.

FMTL vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Critical Metals ETF (FMTL) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

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

Sharpe Ratios by Period

	FMTL	AIRR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.51	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.00	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.25	0.66	+1.59

Drawdowns

FMTL vs. AIRR - Drawdown Comparison

The maximum FMTL drawdown since its inception was -22.44%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FMTL and AIRR.

Drawdown Indicators

	FMTL	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-42.37%	+19.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.09%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.95%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.95%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.37%	—
Current Drawdown Current decline from peak	-10.37%	-3.01%	-7.36%
Average Drawdown Average peak-to-trough decline	-5.09%	-7.42%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.54%	—

Volatility

Volatility by Period

	FMTL	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	40.29%	25.53%	+14.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.29%	25.33%	+14.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.29%	26.30%	+13.99%

FMTL vs. AIRR - Expense Ratio Comparison

FMTL has a 0.65% expense ratio, which is lower than AIRR's 0.70% expense ratio.

Dividends

FMTL vs. AIRR - Dividend Comparison

FMTL's dividend yield for the trailing twelve months is around 0.05%, less than AIRR's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.14%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
FMTL First Trust Indxx Critical Metals ETF	0.05%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMTL and AIRR in my portfolio?

FMTL and AIRR have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FMTL or AIRR?

On fees, FMTL is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMTL or AIRR?

FMTL is cheaper with a 0.65% expense ratio, compared with 0.70% for AIRR.

Which ETF pays a higher dividend yield, FMTL or AIRR?

AIRR has the higher dividend yield at 0.14%, compared with 0.05% for FMTL.

What is the main difference between FMTL and AIRR?

FMTL is categorized as Commodity Producers Equities, while AIRR is Building & Construction. FMTL tracks Indxx Global Critical Metals Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance (TR). Their fees differ too: 0.65% for FMTL and 0.70% for AIRR.