FTXH vs. FTXL

Last updated Jun 24, 2026

FTXH (First Trust Nasdaq Pharmaceuticals ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FTXH is a Health & Biotech Equities fund tracking the Nasdaq U.S. Smart Pharmaceuticals Index, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, FTXH returned 8.45%/yr vs 33.38%/yr for FTXL. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

FTXH vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Pharmaceuticals ETF (FTXH) 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, FTXH achieves a 10.44% return, which is significantly lower than FTXL's 111.02% return.

FTXH

• 1D: 1.37%
• 1M: 4.15%
• YTD: 10.44%
• 6M: 9.18%
• 1Y: 44.59%
• 3Y*: 12.98%
• 5Y*: 8.45%
• 10Y*: —

FTXL

• 1D: -7.99%
• 1M: 10.24%
• YTD: 111.02%
• 6M: 108.37%
• 1Y: 198.66%
• 3Y*: 59.97%
• 5Y*: 33.38%
• 10Y*: —

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

FTXH vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTXH First Trust Nasdaq Pharmaceuticals ETF	10.44%	24.15%	2.98%	-1.41%	2.55%	6.14%	11.73%	22.13%	-9.51%	19.44%
FTXL First Trust Nasdaq Semiconductor ETF	111.02%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between FTXH and FTXL is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.35

The correlation between FTXH and FTXL shifts across timeframes, from 0.18 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

FTXH vs. FTXL - Sectors Allocation Comparison

Sectors	FTXH	FTXL
Healthcare	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	0.3%
Real Estate	-	-
Technology	-	99.7%
Utilities	-	-

Return for Risk

FTXH vs. FTXL — Risk / Return Rank

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

FTXH

FTXH Risk / Return Rank: 87
FTXH Sharpe Ratio Rank: 86
FTXH Sortino Ratio Rank: 89
FTXH Omega Ratio Rank: 80
FTXH Calmar Ratio Rank: 93
FTXH Martin Ratio Rank: 87

FTXL

FTXL Risk / Return Rank: 96
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 94
FTXL Omega Ratio Rank: 93
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.

FTXH vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Pharmaceuticals ETF (FTXH) 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.

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.

	FTXH	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	2.61	4.89	-2.28
Sortino ratio: Return per unit of downside risk	3.81	4.49	-0.68
Omega ratio: Gain probability vs. loss probability	1.44	1.63	-0.19
Calmar ratio: Return relative to maximum drawdown	6.00	13.78	-7.78
Martin ratio: Return relative to average drawdown	17.65	47.69	-30.04

FTXH vs. FTXL - Sharpe Ratio Comparison

The current FTXH Sharpe Ratio is 2.61, which is lower than the FTXL Sharpe Ratio of 4.89. The chart below compares the historical Sharpe Ratios of FTXH 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.

Drawdowns

FTXH vs. FTXL - Drawdown Comparison

The maximum FTXH drawdown since its inception was -32.11%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FTXH and FTXL.

Drawdown Indicators

	FTXH	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-32.11%	-43.87%	+11.76%
Max Drawdown (1Y) Largest decline over 1 year	-7.47%	-14.51%	+7.04%
Max Drawdown (3Y) Largest decline over 3 years	-19.51%	-41.57%	+22.06%
Max Drawdown (5Y) Largest decline over 5 years	-19.51%	-43.87%	+24.36%
Current Drawdown Current decline from peak	0.00%	-7.99%	+7.99%
Average Drawdown Average peak-to-trough decline	-5.81%	-10.53%	+4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	4.18%	-1.65%

Volatility

FTXH vs. FTXL - Volatility Comparison

The current volatility for First Trust Nasdaq Pharmaceuticals ETF (FTXH) is 5.42%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 22.71%. This indicates that FTXH 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

	FTXH	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	22.71%	-17.29%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	34.66%	-22.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.18%	40.91%	-23.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.37%	37.11%	-20.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	34.77%	-16.35%

FTXH vs. FTXL - Expense Ratio Comparison

Both FTXH and FTXL have an expense ratio of 0.60%.

Dividends

FTXH vs. FTXL - Dividend Comparison

FTXH's dividend yield for the trailing twelve months is around 1.16%, more than FTXL's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXH First Trust Nasdaq Pharmaceuticals ETF	1.16%	1.41%	1.66%	1.55%	1.11%	1.03%	0.82%	0.67%	0.91%	2.18%	0.19%
FTXL First Trust Nasdaq Semiconductor ETF	0.13%	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 FTXH and FTXL in my portfolio?

FTXH and FTXL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTXH or FTXL?

FTXL has higher volatility (22.71%) compared to FTXH (5.42%). In terms of maximum drawdown, FTXH dropped -32.11% vs FTXL's -43.87%.

Which ETF is better, FTXH or FTXL?

On 5-year performance, FTXL leads with 33.38% vs 8.45% for FTXH. Both ETFs have the same 0.60% expense ratio. On volatility, FTXH has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXH or FTXL?

Over the 5-year period, FTXL has performed better with a 33.38% return vs 8.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXH or FTXL?

FTXH and FTXL have the same expense ratio: 0.60% per year.

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

FTXH has the higher dividend yield at 1.16%, compared with 0.13% for FTXL.

What is the main difference between FTXH and FTXL?

FTXH is categorized as Health & Biotech Equities, while FTXL is Semiconductors. FTXH tracks Nasdaq U.S. Smart Pharmaceuticals Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (4.89 vs 2.61), 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.