FTHF vs. AIRR

Last updated Jun 24, 2026

FTHF (First Trust Emerging Markets Human Flourishing ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - FTHF is a Emerging Markets Diversified fund tracking the Emerging Markets Human Flourishing Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past year, FTHF returned 99.98% vs 63.63% for AIRR. A 0.54 correlation means they provide meaningful diversification when combined. FTHF charges 0.75%/yr vs 0.69%/yr for AIRR.

Performance

FTHF vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Emerging Markets Human Flourishing ETF (FTHF) 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, FTHF achieves a 48.98% return, which is significantly higher than AIRR's 31.81% return.

FTHF

• 1D: -6.80%
• 1M: 6.57%
• YTD: 48.98%
• 6M: 51.53%
• 1Y: 99.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AIRR

• 1D: -2.80%
• 1M: 3.57%
• YTD: 31.81%
• 6M: 27.48%
• 1Y: 63.63%
• 3Y*: 36.68%
• 5Y*: 25.97%
• 10Y*: 22.05%

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

FTHF vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTHF First Trust Emerging Markets Human Flourishing ETF	48.98%	65.30%	-8.14%	18.14%
AIRR First Trust RBA American Industrial Renaissance ETF	31.81%	27.92%	33.45%	21.71%

Correlation

The correlation between FTHF 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 (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since Oct 31, 2023	0.54

The correlation between FTHF and AIRR has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

FTHF vs. AIRR - Sectors Allocation Comparison

Sectors	FTHF	AIRR
Technology	49.3%	0.7%
Financial Services	24.4%	6.9%
Basic Materials	9.2%	-
Energy	5.3%	3.8%
Industrials	5.1%	92.4%
Consumer Defensive	3.0%	-
Utilities	1.8%	-
Communication Services	0.9%	-
Consumer Cyclical	0.7%	-
Healthcare	0.5%	-
Real Estate	-	-

Return for Risk

FTHF vs. AIRR — Risk / Return Rank

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

FTHF

FTHF Risk / Return Rank: 87
FTHF Sharpe Ratio Rank: 89
FTHF Sortino Ratio Rank: 79
FTHF Omega Ratio Rank: 89
FTHF Calmar Ratio Rank: 93
FTHF Martin Ratio Rank: 86

AIRR

AIRR Risk / Return Rank: 79
AIRR Sharpe Ratio Rank: 80
AIRR Sortino Ratio Rank: 73
AIRR Omega Ratio Rank: 67
AIRR Calmar Ratio Rank: 88
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.

FTHF vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Human Flourishing ETF (FTHF) 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.

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.

	FTHF	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	2.79	2.43	+0.36
Sortino ratio: Return per unit of downside risk	3.22	3.13	+0.09
Omega ratio: Gain probability vs. loss probability	1.52	1.38	+0.14
Calmar ratio: Return relative to maximum drawdown	6.16	4.89	+1.28
Martin ratio: Return relative to average drawdown	16.85	17.83	-0.98

FTHF vs. AIRR - Sharpe Ratio Comparison

The current FTHF Sharpe Ratio is 2.79, which is comparable to the AIRR Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FTHF and AIRR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FTHF vs. AIRR - Drawdown Comparison

The maximum FTHF drawdown since its inception was -17.36%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FTHF and AIRR.

Drawdown Indicators

	FTHF	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-17.36%	-42.37%	+25.01%
Max Drawdown (1Y) Largest decline over 1 year	-16.31%	-13.09%	-3.22%
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	-6.80%	-2.80%	-4.00%
Average Drawdown Average peak-to-trough decline	-4.22%	-7.47%	+3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.95%	3.58%	+2.37%

Volatility

FTHF vs. AIRR - Volatility Comparison

First Trust Emerging Markets Human Flourishing ETF (FTHF) has a higher volatility of 17.38% compared to First Trust RBA American Industrial Renaissance ETF (AIRR) at 8.80%. This indicates that FTHF's price experiences larger fluctuations and is considered to be riskier than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTHF	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.38%	8.80%	+8.58%
Volatility (6M) Calculated over the trailing 6-month period	28.89%	20.63%	+8.26%
Volatility (1Y) Calculated over the trailing 1-year period	36.06%	26.40%	+9.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.89%	25.45%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.89%	26.33%	+0.56%

FTHF vs. AIRR - Expense Ratio Comparison

FTHF has a 0.75% expense ratio, which is higher than AIRR's 0.69% expense ratio.

Dividends

FTHF vs. AIRR - Dividend Comparison

FTHF's dividend yield for the trailing twelve months is around 3.03%, more than AIRR's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
FTHF First Trust Emerging Markets Human Flourishing ETF	3.03%	4.40%	3.34%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTHF and AIRR in my portfolio?

FTHF 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 is riskier, FTHF or AIRR?

FTHF has higher volatility (17.38%) compared to AIRR (8.80%). In terms of maximum drawdown, FTHF dropped -17.36% vs AIRR's -42.37%.

Which ETF is better, FTHF or AIRR?

On 1-year performance, FTHF leads with 99.98% vs 63.63% for AIRR. On fees, AIRR is cheaper at 0.69% per year. On volatility, AIRR has been the lower-risk option at 8.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTHF or AIRR?

Over the 1-year period, FTHF has performed better with a 99.98% return vs 63.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTHF or AIRR?

AIRR is cheaper with a 0.69% expense ratio, compared with 0.75% for FTHF.

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

FTHF has the higher dividend yield at 3.03%, compared with 0.13% for AIRR.

What is the main difference between FTHF and AIRR?

FTHF is categorized as Emerging Markets Diversified, while AIRR is Building & Construction. FTHF tracks Emerging Markets Human Flourishing Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. Their fees differ too: 0.75% for FTHF and 0.69% for AIRR.

Which has better risk-adjusted returns?

FTHF currently has the higher Sharpe Ratio (2.79 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.