FTLS vs. QCLN

Last updated Jun 3, 2026

FTLS (First Trust Long/Short Equity ETF) and QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) are both exchange-traded funds - FTLS is a Long-Short fund actively managed by First Trust, while QCLN is a Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy. FTLS is actively managed, while QCLN is passively managed. Over the past 10 years, FTLS returned 9.81%/yr vs 17.44%/yr for QCLN. A 0.57 correlation means they provide meaningful diversification when combined. FTLS charges 1.60%/yr vs 0.60%/yr for QCLN.

Performance

FTLS vs. QCLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Long/Short Equity ETF (FTLS) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTLS achieves a 5.21% return, which is significantly lower than QCLN's 53.57% return. Over the past 10 years, FTLS has underperformed QCLN with an annualized return of 9.81%, while QCLN has yielded a comparatively higher 17.44% annualized return.

FTLS

• 1D: 0.67%
• 1M: 1.31%
• YTD: 5.21%
• 6M: 4.51%
• 1Y: 14.78%
• 3Y*: 14.27%
• 5Y*: 10.33%
• 10Y*: 9.81%

QCLN

• 1D: 4.45%
• 1M: 15.68%
• YTD: 53.57%
• 6M: 53.62%
• 1Y: 130.32%
• 3Y*: 12.19%
• 5Y*: 2.59%
• 10Y*: 17.44%

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

FTLS vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTLS First Trust Long/Short Equity ETF	5.21%	9.09%	18.80%	16.94%	-5.56%	19.65%	2.56%	16.16%	-4.81%	14.41%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	53.57%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	184.00%	42.65%	-12.38%	32.34%

Correlation

The correlation between FTLS and QCLN is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 11, 2014	0.57

The correlation between FTLS and QCLN shifts across timeframes, from 0.47 (3 years) to 0.57 (all time), reflecting how their relationship changes across market environments.

FTLS vs. QCLN - Sectors Allocation Comparison

Sectors	FTLS	QCLN
Technology	26.9%	20.8%
Financial Services	19.9%	1.9%
Consumer Cyclical	9.5%	9.4%
Healthcare	8.4%	-
Industrials	7.6%	30.2%
Energy	7.3%	13.2%
Consumer Defensive	6.5%	-
Communication Services	6.1%	-
Basic Materials	5.1%	9.4%
Real Estate	1.9%	-
Utilities	0.9%	13.2%

Return for Risk

FTLS vs. QCLN — Risk / Return Rank

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

FTLS

FTLS Risk / Return Rank: 60
FTLS Sharpe Ratio Rank: 52
FTLS Sortino Ratio Rank: 54
FTLS Omega Ratio Rank: 52
FTLS Calmar Ratio Rank: 77
FTLS Martin Ratio Rank: 67

QCLN

QCLN Risk / Return Rank: 91
QCLN Sharpe Ratio Rank: 95
QCLN Sortino Ratio Rank: 88
QCLN Omega Ratio Rank: 83
QCLN Calmar Ratio Rank: 95
QCLN 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.

FTLS vs. QCLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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.

	FTLS	QCLN	Difference
Sharpe ratio Return per unit of total volatility	1.81	3.76	-1.95
Sortino ratio Return per unit of downside risk	2.64	4.06	-1.43
Omega ratio Gain probability vs. loss probability	1.33	1.51	-0.18
Calmar ratio Return relative to maximum drawdown	3.96	8.02	-4.06
Martin ratio Return relative to average drawdown	12.34	27.70	-15.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTLS vs. QCLN - Sharpe Ratio Comparison

The current FTLS Sharpe Ratio is 1.81, which is lower than the QCLN Sharpe Ratio of 3.76. The chart below compares the historical Sharpe Ratios of FTLS and QCLN, 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

	FTLS	QCLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	3.76	-1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.07	+0.92
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.87	0.50	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.20	+0.61

Drawdowns

FTLS vs. QCLN - Drawdown Comparison

The maximum FTLS drawdown since its inception was -20.54%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for FTLS and QCLN.

Drawdown Indicators

	FTLS	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-20.54%	-76.18%	+55.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.79%	-15.86%	+12.07%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-56.08%	+44.39%
Max Drawdown (5Y) Largest decline over 5 years	-11.69%	-69.49%	+57.80%
Max Drawdown (10Y) Largest decline over 10 years	-20.54%	-71.73%	+51.19%
Current Drawdown Current decline from peak	-0.15%	-20.66%	+20.51%
Average Drawdown Average peak-to-trough decline	-2.69%	-43.45%	+40.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.21%	4.59%	-3.38%

Volatility

FTLS vs. QCLN - Volatility Comparison

The current volatility for First Trust Long/Short Equity ETF (FTLS) is 1.93%, while First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a volatility of 12.63%. This indicates that FTLS experiences smaller price fluctuations and is considered to be less risky than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTLS	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	12.63%	-10.70%
Volatility (6M) Calculated over the trailing 6-month period	5.65%	26.18%	-20.53%
Volatility (1Y) Calculated over the trailing 1-year period	8.19%	34.91%	-26.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	37.98%	-27.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	34.91%	-23.61%

FTLS vs. QCLN - Expense Ratio Comparison

FTLS has a 1.60% expense ratio, which is higher than QCLN's 0.60% expense ratio.

Dividends

FTLS vs. QCLN - Dividend Comparison

FTLS's dividend yield for the trailing twelve months is around 0.90%, more than QCLN's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTLS First Trust Long/Short Equity ETF	0.90%	1.07%	1.50%	1.49%	0.81%	0.01%	0.44%	0.83%	0.87%	0.43%	1.04%	0.49%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.15%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both FTLS and QCLN in my portfolio?

FTLS and QCLN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTLS or QCLN?

QCLN has higher volatility (12.63%) compared to FTLS (1.93%). In terms of maximum drawdown, FTLS dropped -20.54% vs QCLN's -76.18%.

Which ETF is better, FTLS or QCLN?

On 10-year performance, QCLN leads with 17.44% vs 9.81% for FTLS. On fees, QCLN is cheaper at 0.60% per year. On volatility, FTLS has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTLS or QCLN?

Over the 10-year period, QCLN has performed better with a 17.44% return vs 9.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTLS or QCLN?

QCLN is cheaper with a 0.60% expense ratio, compared with 1.60% for FTLS.

Which ETF pays a higher dividend yield, FTLS or QCLN?

FTLS has the higher dividend yield at 0.90%, compared with 0.15% for QCLN.

What is the main difference between FTLS and QCLN?

FTLS is categorized as Long-Short, while QCLN is Alternative Energy Equities. Their fees differ too: 1.60% for FTLS and 0.60% for QCLN.

Which has better risk-adjusted returns?

QCLN currently has the higher Sharpe Ratio (3.76 vs 1.81), 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.