FTKI vs. FTQI

Last updated Jul 16, 2026

FTKI (First Trust Small Cap BuyWrite Income ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - FTKI is a Derivative Income fund actively managed by First Trust, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. FTKI is actively managed, while FTQI is passively managed. Over the past year, FTKI returned 21.75% vs 27.70% for FTQI. A 0.67 correlation means they provide meaningful diversification when combined. FTKI charges 0.85%/yr vs 0.75%/yr for FTQI.

Performance

FTKI vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap BuyWrite Income ETF (FTKI) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FTKI having a 13.33% return and FTQI slightly higher at 13.57%.

FTKI

• 1D: 0.04%
• 1M: 1.78%
• 6M: 11.92%
• YTD: 13.33%
• 1Y: 21.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: 0.09%
• 1M: 1.97%
• 6M: 12.76%
• YTD: 13.57%
• 1Y: 27.70%
• 3Y*: 16.98%
• 5Y*: 12.43%
• 10Y*: 7.68%

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

FTKI vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025
FTKI First Trust Small Cap BuyWrite Income ETF	13.33%	4.33%
FTQI First Trust Nasdaq BuyWrite Income ETF	13.57%	12.22%

Correlation

The correlation between FTKI and FTQI is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since Feb 27, 2025	0.67

The correlation between FTKI and FTQI has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

FTKI vs. FTQI - Sectors Allocation Comparison

Sectors	FTKI	FTQI
Financial Services	18.6%	5.5%
Consumer Cyclical	13.8%	10.5%
Industrials	13.8%	4.1%
Technology	13.8%	49.4%
Healthcare	13.1%	6.0%
Energy	7.6%	2.3%
Real Estate	7.6%	1.3%
Basic Materials	4.8%	1.4%
Communication Services	3.4%	11.8%
Consumer Defensive	1.4%	6.2%
Utilities	1.4%	1.5%

Return for Risk

FTKI vs. FTQI — Risk / Return Rank

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

FTKI

FTKI Risk / Return Rank: 85
FTKI Sharpe Ratio Rank: 85
FTKI Sortino Ratio Rank: 86
FTKI Omega Ratio Rank: 85
FTKI Calmar Ratio Rank: 87
FTKI Martin Ratio Rank: 83

FTQI

FTQI Risk / Return Rank: 92
FTQI Sharpe Ratio Rank: 92
FTQI Sortino Ratio Rank: 92
FTQI Omega Ratio Rank: 91
FTQI Calmar Ratio Rank: 91
FTQI Martin Ratio Rank: 94

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.

FTKI vs. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap BuyWrite Income ETF (FTKI) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	FTKI	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.57	-0.38
Sortino ratio: Return per unit of downside risk	3.14	3.54	-0.39
Omega ratio: Gain probability vs. loss probability	1.40	1.48	-0.08
Calmar ratio: Return relative to maximum drawdown	3.93	4.46	-0.53
Martin ratio: Return relative to average drawdown	13.16	21.13	-7.97

FTKI vs. FTQI - Sharpe Ratio Comparison

The current FTKI Sharpe Ratio is 2.19, which is comparable to the FTQI Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of FTKI and FTQI, 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

FTKI vs. FTQI - Drawdown Comparison

The maximum FTKI drawdown since its inception was -15.17%, smaller than the maximum FTQI drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for FTKI and FTQI.

Drawdown Indicators

	FTKI	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-19.42%	+4.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-6.24%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-0.31%	-0.13%	-0.18%
Average Drawdown Average peak-to-trough decline	-2.42%	-3.73%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.31%	+0.35%

Volatility

FTKI vs. FTQI - Volatility Comparison

The current volatility for First Trust Small Cap BuyWrite Income ETF (FTKI) is 2.20%, while First Trust Nasdaq BuyWrite Income ETF (FTQI) has a volatility of 2.86%. This indicates that FTKI experiences smaller price fluctuations and is considered to be less risky than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTKI	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	2.86%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	7.57%	8.79%	-1.22%
Volatility (1Y) Calculated over the trailing 1-year period	9.98%	10.84%	-0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	14.82%	+0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	12.98%	+1.90%

FTKI vs. FTQI - Expense Ratio Comparison

FTKI has a 0.85% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

FTKI vs. FTQI - Dividend Comparison

FTKI's dividend yield for the trailing twelve months is around 11.23%, more than FTQI's 10.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTKI First Trust Small Cap BuyWrite Income ETF	11.23%	8.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.84%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%

Frequently Asked Questions

Can I hold both FTKI and FTQI in my portfolio?

FTKI and FTQI have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTKI or FTQI?

FTQI has higher volatility (2.86%) compared to FTKI (2.20%). In terms of maximum drawdown, FTKI dropped -15.17% vs FTQI's -19.42%.

Which ETF is better, FTKI or FTQI?

On 1-year performance, FTQI leads with 27.70% vs 21.75% for FTKI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTKI has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTKI or FTQI?

Over the 1-year period, FTQI has performed better with a 27.70% return vs 21.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTKI or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.85% for FTKI.

Which ETF pays a higher dividend yield, FTKI or FTQI?

FTKI has the higher dividend yield at 11.23%, compared with 10.84% for FTQI.

What is the main difference between FTKI and FTQI?

FTKI is categorized as Derivative Income, while FTQI is Nasdaq-100. Their fees differ too: 0.85% for FTKI and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.57 vs 2.19), 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.