FTXH vs. XLVI

Last updated Aug 4, 2026

FTXH (First Trust Nasdaq Pharmaceuticals ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - FTXH is a Health & Biotech Equities fund tracking the Nasdaq U.S. Smart Pharmaceuticals Index, while XLVI is a Derivative Income fund actively managed by State Street. FTXH is passively managed, while XLVI is actively managed. Over the past year, FTXH returned 49.44% vs 22.96% for XLVI. Their correlation of 0.83 means they have usually moved in the same direction. FTXH charges 0.60%/yr vs 0.35%/yr for XLVI.

Performance

FTXH vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Pharmaceuticals ETF (FTXH) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXH achieves a 17.64% return, which is significantly higher than XLVI's 6.89% return.

FTXH

• 1D: -0.77%
• 1M: -1.43%
• 6M: 12.69%
• YTD: 17.64%
• 1Y: 49.44%
• 3Y*: 15.53%
• 5Y*: 9.04%
• 10Y*: —
• ALL TIME*: 8.02%

XLVI

• 1D: -0.20%
• 1M: 0.97%
• 6M: 6.00%
• YTD: 6.89%
• 1Y: 22.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTXH First Trust Nasdaq Pharmaceuticals ETF	$132.42M	$64.10M	$22.26M
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$940.40K	$699.80K	$484.44K

FTXH vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
FTXH First Trust Nasdaq Pharmaceuticals ETF	17.64%	24.83%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	6.89%	12.41%

Correlation

The correlation between FTXH and XLVI is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.83

The correlation between FTXH and XLVI has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

FTXH vs. XLVI - Sectors Allocation Comparison

Sectors	FTXH	XLVI
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FTXH vs. XLVI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTXH

FTXH Risk / Return Rank: 95
FTXH Sharpe Ratio Rank: 95
FTXH Sortino Ratio Rank: 95
FTXH Omega Ratio Rank: 93
FTXH Calmar Ratio Rank: 96
FTXH Martin Ratio Rank: 94

XLVI

XLVI Risk / Return Rank: 80
XLVI Sharpe Ratio Rank: 85
XLVI Sortino Ratio Rank: 89
XLVI Omega Ratio Rank: 87
XLVI Calmar Ratio Rank: 75
XLVI Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTXH vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Pharmaceuticals ETF (FTXH) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). 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	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	2.92	2.15	+0.77
Sortino ratio: Return per unit of downside risk	4.30	3.23	+1.06
Omega ratio: Gain probability vs. loss probability	1.48	1.41	+0.08
Calmar ratio: Return relative to maximum drawdown	6.65	2.83	+3.82
Martin ratio: Return relative to average drawdown	19.78	8.00	+11.78

FTXH vs. XLVI - Sharpe Ratio Comparison

The current FTXH Sharpe Ratio is 2.92, which is higher than the XLVI Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of FTXH and XLVI, 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. XLVI - Drawdown Comparison

The maximum FTXH drawdown since its inception was -32.11%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for FTXH and XLVI.

Drawdown Indicators

	FTXH	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-32.11%	-8.14%	-23.97%
Max Drawdown (1Y) Largest decline over 1 year	-7.47%	-8.14%	+0.67%
Max Drawdown (3Y) Largest decline over 3 years	-19.51%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.51%	—	—
Current Drawdown Current decline from peak	-2.77%	-1.66%	-1.11%
Average Drawdown Average peak-to-trough decline	-5.76%	-1.78%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.88%	-0.37%

Volatility

FTXH vs. XLVI - Volatility Comparison

First Trust Nasdaq Pharmaceuticals ETF (FTXH) has a higher volatility of 4.91% compared to State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) at 3.36%. This indicates that FTXH's price experiences larger fluctuations and is considered to be riskier than XLVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXH	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	3.36%	+1.55%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	8.73%	+4.08%
Volatility (1Y) Calculated over the trailing 1-year period	17.04%	10.75%	+6.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.53%	11.04%	+5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.43%	11.04%	+7.39%

FTXH vs. XLVI - Expense Ratio Comparison

FTXH has a 0.60% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

FTXH vs. XLVI - Dividend Comparison

FTXH's dividend yield for the trailing twelve months is around 1.10%, less than XLVI's 12.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXH First Trust Nasdaq Pharmaceuticals ETF	1.10%	1.41%	1.66%	1.55%	1.11%	1.03%	0.82%	0.67%	0.91%	2.18%	0.19%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	12.76%	5.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTXH and XLVI in my portfolio?

FTXH and XLVI have a correlation of 0.83, 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 XLVI?

FTXH has higher volatility (4.91%) compared to XLVI (3.36%). In terms of maximum drawdown, FTXH dropped -32.11% vs XLVI's -8.14%.

Which ETF is better, FTXH or XLVI?

On 1-year performance, FTXH leads with 49.44% vs 22.96% for XLVI. On fees, XLVI is cheaper at 0.35% per year. On volatility, XLVI has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXH or XLVI?

Over the 1-year period, FTXH has performed better with a 49.44% return vs 22.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXH or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.60% for FTXH.

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

XLVI has the higher dividend yield at 12.76%, compared with 1.10% for FTXH.

What is the main difference between FTXH and XLVI?

FTXH is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for FTXH and 0.35% for XLVI.

Which has better risk-adjusted returns?

FTXH currently has the higher Sharpe Ratio (2.92 vs 2.15), 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.