FTKI vs. FTXL

Last updated Jun 4, 2026

FTKI (First Trust Small Cap BuyWrite Income ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FTKI is a Derivative Income fund actively managed by First Trust, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. FTKI is actively managed, while FTXL is passively managed. Over the past year, FTKI returned 18.90% vs 225.15% for FTXL. A 0.51 correlation means they provide meaningful diversification when combined. FTKI charges 0.85%/yr vs 0.60%/yr for FTXL.

Performance

FTKI vs. FTXL - 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 Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKI achieves a 9.41% return, which is significantly lower than FTXL's 115.70% return.

FTKI

• 1D: -0.19%
• 1M: 0.46%
• YTD: 9.41%
• 6M: 9.82%
• 1Y: 18.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTXL

• 1D: 2.21%
• 1M: 30.59%
• YTD: 115.70%
• 6M: 113.17%
• 1Y: 225.15%
• 3Y*: 61.52%
• 5Y*: 34.63%
• 10Y*: —

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

FTKI vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025
FTKI First Trust Small Cap BuyWrite Income ETF	9.41%	4.33%
FTXL First Trust Nasdaq Semiconductor ETF	115.70%	57.38%

Correlation

The correlation between FTKI and FTXL is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.51

The correlation between FTKI and FTXL has been stable across timeframes, ranging from 0.44 to 0.51 - a consistent structural relationship.

FTKI vs. FTXL - Sectors Allocation Comparison

Sectors	FTKI	FTXL
Financial Services	21.8%	-
Technology	14.9%	99.5%
Industrials	12.8%	0.5%
Consumer Cyclical	11.2%	-
Energy	9.6%	-
Healthcare	9.0%	-
Real Estate	7.4%	-
Basic Materials	4.3%	-
Communication Services	3.2%	-
Consumer Defensive	2.1%	-
Utilities	2.1%	-

Return for Risk

FTKI vs. FTXL — Risk / Return Rank

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

FTKI

FTKI Risk / Return Rank: 63
FTKI Sharpe Ratio Rank: 59
FTKI Sortino Ratio Rank: 61
FTKI Omega Ratio Rank: 61
FTKI Calmar Ratio Rank: 70
FTKI Martin Ratio Rank: 64

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 96
FTXL Omega Ratio Rank: 96
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.

FTKI vs. FTXL - 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 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.

	FTKI	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	1.96	6.33	-4.37
Sortino ratio: Return per unit of downside risk	2.81	5.74	-2.93
Omega ratio: Gain probability vs. loss probability	1.37	1.78	-0.41
Calmar ratio: Return relative to maximum drawdown	3.41	15.62	-12.21
Martin ratio: Return relative to average drawdown	11.54	58.28	-46.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTKI vs. FTXL - Sharpe Ratio Comparison

The current FTKI Sharpe Ratio is 1.96, which is lower than the FTXL Sharpe Ratio of 6.33. The chart below compares the historical Sharpe Ratios of FTKI and FTXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTKI	FTXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	6.33	-4.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.94	-0.21

Drawdowns

FTKI vs. FTXL - Drawdown Comparison

The maximum FTKI drawdown since its inception was -15.17%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FTKI and FTXL.

Drawdown Indicators

	FTKI	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-43.87%	+28.70%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-14.51%	+8.95%
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	-0.97%	0.00%	-0.97%
Average Drawdown Average peak-to-trough decline	-2.59%	-10.56%	+7.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	3.88%	-2.24%

Volatility

FTKI vs. FTXL - Volatility Comparison

The current volatility for First Trust Small Cap BuyWrite Income ETF (FTKI) is 2.54%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 14.28%. This indicates that FTKI experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTKI	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	14.28%	-11.74%
Volatility (6M) Calculated over the trailing 6-month period	7.44%	28.98%	-21.54%
Volatility (1Y) Calculated over the trailing 1-year period	9.69%	35.94%	-26.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	36.02%	-20.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	34.25%	-18.94%

FTKI vs. FTXL - Expense Ratio Comparison

FTKI has a 0.85% expense ratio, which is higher than FTXL's 0.60% expense ratio.

Dividends

FTKI vs. FTXL - Dividend Comparison

FTKI's dividend yield for the trailing twelve months is around 11.51%, more than FTXL's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTKI First Trust Small Cap BuyWrite Income ETF	11.51%	8.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTXL First Trust Nasdaq Semiconductor ETF	0.12%	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 FTKI and FTXL in my portfolio?

FTKI and FTXL have a correlation of 0.44, 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 FTXL?

FTXL has higher volatility (14.28%) compared to FTKI (2.54%). In terms of maximum drawdown, FTKI dropped -15.17% vs FTXL's -43.87%.

Which ETF is better, FTKI or FTXL?

On 1-year performance, FTXL leads with 225.15% vs 18.90% for FTKI. On fees, FTXL is cheaper at 0.60% per year. On volatility, FTKI has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTKI or FTXL?

Over the 1-year period, FTXL has performed better with a 225.15% return vs 18.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTKI or FTXL?

FTXL is cheaper with a 0.60% expense ratio, compared with 0.85% for FTKI.

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

FTKI has the higher dividend yield at 11.51%, compared with 0.12% for FTXL.

What is the main difference between FTKI and FTXL?

FTKI is categorized as Derivative Income, while FTXL is Semiconductors. Their fees differ too: 0.85% for FTKI and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (6.33 vs 1.96), 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.