FRWD vs. FTXL

Last updated Jun 24, 2026

FRWD (Nomura Transformational Technologies ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FRWD is a Technology Equities fund actively managed by Nomura, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. FRWD is actively managed, while FTXL is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. FRWD charges 0.65%/yr vs 0.60%/yr for FTXL.

Performance

FRWD vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Transformational Technologies ETF (FRWD) and First Trust Nasdaq Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRWD

• 1D: -4.95%
• 1M: 5.16%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTXL

• 1D: -7.99%
• 1M: 10.24%
• YTD: 111.02%
• 6M: 108.37%
• 1Y: 198.66%
• 3Y*: 59.97%
• 5Y*: 33.38%
• 10Y*: —

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

FRWD vs. FTXL - Yearly Performance Comparison

	2026 (YTD)
FRWD Nomura Transformational Technologies ETF	29.94%
FTXL First Trust Nasdaq Semiconductor ETF	88.93%

Correlation

The correlation between FRWD and FTXL is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.83

Return for Risk

FRWD vs. FTXL — Risk / Return Rank

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

FRWD

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

FTXL

FTXL Risk / Return Rank: 96
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 94
FTXL Omega Ratio Rank: 93
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

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.

FRWD vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Transformational Technologies ETF (FRWD) 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.

	FRWD	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	—	4.89	—
Sortino ratio: Return per unit of downside risk	—	4.49	—
Omega ratio: Gain probability vs. loss probability	—	1.63	—
Calmar ratio: Return relative to maximum drawdown	—	13.78	—
Martin ratio: Return relative to average drawdown	—	47.69	—

Drawdowns

FRWD vs. FTXL - Drawdown Comparison

The maximum FRWD drawdown since its inception was -18.49%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FRWD and FTXL.

Drawdown Indicators

	FRWD	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-18.49%	-43.87%	+25.38%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.51%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-41.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.87%	—
Current Drawdown Current decline from peak	-5.67%	-7.99%	+2.32%
Average Drawdown Average peak-to-trough decline	-5.12%	-10.53%	+5.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.18%	—

Volatility

Volatility by Period

	FRWD	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	22.71%	—
Volatility (6M) Calculated over the trailing 6-month period	—	34.66%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.12%	40.91%	-6.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.12%	37.11%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.12%	34.77%	-0.65%

FRWD vs. FTXL - Expense Ratio Comparison

FRWD has a 0.65% expense ratio, which is higher than FTXL's 0.60% expense ratio.

Dividends

FRWD vs. FTXL - Dividend Comparison

FRWD has not paid dividends to shareholders, while FTXL's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FRWD Nomura Transformational Technologies ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FRWD and FTXL in my portfolio?

FRWD and FTXL have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FRWD or FTXL?

On fees, FTXL is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FRWD or FTXL?

FTXL is cheaper with a 0.60% expense ratio, compared with 0.65% for FRWD.

Which ETF pays a higher dividend yield, FRWD or FTXL?

FTXL has the higher dividend yield at 0.13%, compared with 0.00% for FRWD.

What is the main difference between FRWD and FTXL?

FRWD is categorized as Technology Equities, while FTXL is Semiconductors. They also come from different issuers: Nomura and First Trust. Their fees differ too: 0.65% for FRWD and 0.60% for FTXL.