FTQI vs. AIRR

Last updated Jun 25, 2026

FTQI (First Trust Nasdaq BuyWrite Income ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, FTQI returned 8.16%/yr vs 22.14%/yr for AIRR. A 0.57 correlation means they provide meaningful diversification when combined. FTQI charges 0.75%/yr vs 0.69%/yr for AIRR.

Performance

FTQI vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq BuyWrite Income ETF (FTQI) 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, FTQI achieves a 10.72% return, which is significantly lower than AIRR's 32.79% return. Over the past 10 years, FTQI has underperformed AIRR with an annualized return of 8.16%, while AIRR has yielded a comparatively higher 22.14% annualized return.

FTQI

• 1D: 0.00%
• 1M: 1.53%
• YTD: 10.72%
• 6M: 9.99%
• 1Y: 26.22%
• 3Y*: 16.88%
• 5Y*: 10.94%
• 10Y*: 8.16%

AIRR

• 1D: 0.74%
• 1M: 4.33%
• YTD: 32.79%
• 6M: 28.48%
• 1Y: 62.89%
• 3Y*: 37.01%
• 5Y*: 26.09%
• 10Y*: 22.14%

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

FTQI vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTQI First Trust Nasdaq BuyWrite Income ETF	10.72%	12.68%	18.30%	23.63%	-8.77%	10.46%	-6.54%	13.98%	-9.78%	12.47%
AIRR First Trust RBA American Industrial Renaissance ETF	32.79%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%

Correlation

The correlation between FTQI and AIRR is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014	0.57

The correlation between FTQI and AIRR shifts across timeframes, from 0.57 (all time) to 0.69 (5 years), reflecting how their relationship changes across market environments.

FTQI vs. AIRR - Sectors Allocation Comparison

Sectors	FTQI	AIRR
Technology	49.4%	0.7%
Communication Services	11.8%	-
Consumer Cyclical	10.5%	-
Consumer Defensive	6.2%	-
Healthcare	6.0%	-
Financial Services	5.5%	6.9%
Industrials	4.1%	92.4%
Energy	2.3%	3.8%
Utilities	1.5%	-
Basic Materials	1.4%	-
Real Estate	1.3%	-

Return for Risk

FTQI vs. AIRR — Risk / Return Rank

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

FTQI

FTQI Risk / Return Rank: 87
FTQI Sharpe Ratio Rank: 86
FTQI Sortino Ratio Rank: 85
FTQI Omega Ratio Rank: 86
FTQI Calmar Ratio Rank: 85
FTQI Martin Ratio Rank: 92

AIRR

AIRR Risk / Return Rank: 82
AIRR Sharpe Ratio Rank: 83
AIRR Sortino Ratio Rank: 77
AIRR Omega Ratio Rank: 72
AIRR Calmar Ratio Rank: 89
AIRR Martin Ratio Rank: 89

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.

FTQI vs. AIRR - Risk-Adjusted Trends Comparison

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

	FTQI	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.40	+0.08
Sortino ratio: Return per unit of downside risk	3.41	3.10	+0.30
Omega ratio: Gain probability vs. loss probability	1.47	1.38	+0.09
Calmar ratio: Return relative to maximum drawdown	4.22	4.83	-0.61
Martin ratio: Return relative to average drawdown	20.11	17.62	+2.49

FTQI vs. AIRR - Sharpe Ratio Comparison

The current FTQI Sharpe Ratio is 2.48, which is comparable to the AIRR Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of FTQI 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

FTQI vs. AIRR - Drawdown Comparison

The maximum FTQI drawdown since its inception was -19.42%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FTQI and AIRR.

Drawdown Indicators

	FTQI	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-19.42%	-42.37%	+22.95%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-13.09%	+6.85%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	-27.95%	+8.53%
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	-27.95%	+8.53%
Max Drawdown (10Y) Largest decline over 10 years	-19.42%	-42.37%	+22.95%
Current Drawdown Current decline from peak	-0.90%	-2.08%	+1.18%
Average Drawdown Average peak-to-trough decline	-3.74%	-7.46%	+3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	3.58%	-2.27%

Volatility

FTQI vs. AIRR - Volatility Comparison

The current volatility for First Trust Nasdaq BuyWrite Income ETF (FTQI) is 3.26%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 8.81%. This indicates that FTQI experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTQI	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	8.81%	-5.55%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	20.61%	-12.09%
Volatility (1Y) Calculated over the trailing 1-year period	10.64%	26.36%	-15.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.83%	25.43%	-10.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.33%	26.33%	-13.00%

FTQI vs. AIRR - Expense Ratio Comparison

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

Dividends

FTQI vs. AIRR - Dividend Comparison

FTQI's dividend yield for the trailing twelve months is around 10.97%, 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%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.97%	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 FTQI and AIRR in my portfolio?

FTQI and AIRR have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTQI or AIRR?

AIRR has higher volatility (8.81%) compared to FTQI (3.26%). In terms of maximum drawdown, FTQI dropped -19.42% vs AIRR's -42.37%.

Which ETF is better, FTQI or AIRR?

On 10-year performance, AIRR leads with 22.14% vs 8.16% for FTQI. On fees, AIRR is cheaper at 0.69% per year. On volatility, FTQI has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTQI or AIRR?

Over the 10-year period, AIRR has performed better with a 22.14% return vs 8.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTQI or AIRR?

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

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

FTQI has the higher dividend yield at 10.97%, compared with 0.13% for AIRR.

What is the main difference between FTQI and AIRR?

FTQI is categorized as Nasdaq-100, while AIRR is Building & Construction. FTQI tracks NASDAQ-100 Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. Their fees differ too: 0.75% for FTQI and 0.69% for AIRR.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.48 vs 2.40), 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.