FTXL vs. GUNR

Last updated Jun 13, 2026

FTXL (First Trust Nasdaq Semiconductor ETF) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index, while GUNR is a Commodity Producers Equities fund tracking the Morningstar Global Upstream Natural Resources Index. Both are passively managed. Over the past 5 years, FTXL returned 33.62%/yr vs 9.47%/yr for GUNR. At a 0.46 correlation, their price movements are largely independent. FTXL charges 0.60%/yr vs 0.46%/yr for GUNR.

Performance

FTXL vs. GUNR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Semiconductor ETF (FTXL) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXL achieves a 108.47% return, which is significantly higher than GUNR's 15.74% return.

FTXL

• 1D: 2.27%
• 1M: 10.09%
• YTD: 108.47%
• 6M: 110.95%
• 1Y: 197.22%
• 3Y*: 57.13%
• 5Y*: 33.62%
• 10Y*: —

GUNR

• 1D: 1.19%
• 1M: -5.35%
• YTD: 15.74%
• 6M: 17.02%
• 1Y: 34.03%
• 3Y*: 12.40%
• 5Y*: 9.47%
• 10Y*: 11.10%

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

FTXL vs. GUNR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTXL First Trust Nasdaq Semiconductor ETF	108.47%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	15.74%	30.03%	-8.37%	-2.40%	14.83%	26.06%	0.46%	18.41%	-9.42%	18.74%

Correlation

The correlation between FTXL and GUNR is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.46

The correlation between FTXL and GUNR shifts across timeframes, from 0.33 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

FTXL vs. GUNR - Sectors Allocation Comparison

Sectors	FTXL	GUNR
Technology	99.5%	0.5%
Industrials	0.5%	2.3%
Basic Materials	-	45.1%
Communication Services	-	1.7%
Consumer Cyclical	-	0.2%
Consumer Defensive	-	11.5%
Energy	-	29.3%
Financial Services	-	2.7%
Healthcare	-	-
Real Estate	-	0.2%
Utilities	-	4.0%

Return for Risk

FTXL vs. GUNR — Risk / Return Rank

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

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 95
FTXL Omega Ratio Rank: 95
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

GUNR

GUNR Risk / Return Rank: 80
GUNR Sharpe Ratio Rank: 79
GUNR Sortino Ratio Rank: 72
GUNR Omega Ratio Rank: 75
GUNR Calmar Ratio Rank: 87
GUNR Martin Ratio Rank: 88

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.

FTXL vs. GUNR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Semiconductor ETF (FTXL) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). 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.

	FTXL	GUNR	Difference
Sharpe ratio: Return per unit of total volatility	5.10	2.18	+2.92
Sortino ratio: Return per unit of downside risk	4.76	2.79	+1.97
Omega ratio: Gain probability vs. loss probability	1.66	1.38	+0.28
Calmar ratio: Return relative to maximum drawdown	13.68	4.40	+9.28
Martin ratio: Return relative to average drawdown	47.98	16.53	+31.46

FTXL vs. GUNR - Sharpe Ratio Comparison

The current FTXL Sharpe Ratio is 5.10, which is higher than the GUNR Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of FTXL and GUNR, 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

FTXL vs. GUNR - Drawdown Comparison

The maximum FTXL drawdown since its inception was -43.87%, roughly equal to the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for FTXL and GUNR.

Drawdown Indicators

	FTXL	GUNR	Difference
Max Drawdown Largest peak-to-trough decline	-43.87%	-45.64%	+1.77%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-7.77%	-6.74%
Max Drawdown (3Y) Largest decline over 3 years	-41.57%	-19.59%	-21.98%
Max Drawdown (5Y) Largest decline over 5 years	-43.87%	-24.06%	-19.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.04%	—
Current Drawdown Current decline from peak	-3.35%	-5.39%	+2.04%
Average Drawdown Average peak-to-trough decline	-10.54%	-10.39%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	2.06%	+2.07%

Volatility

FTXL vs. GUNR - Volatility Comparison

First Trust Nasdaq Semiconductor ETF (FTXL) has a higher volatility of 19.23% compared to FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) at 5.11%. This indicates that FTXL's price experiences larger fluctuations and is considered to be riskier than GUNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXL	GUNR	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.23%	5.11%	+14.12%
Volatility (6M) Calculated over the trailing 6-month period	32.79%	13.13%	+19.66%
Volatility (1Y) Calculated over the trailing 1-year period	38.90%	15.69%	+23.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.63%	19.06%	+17.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.55%	20.44%	+14.11%

FTXL vs. GUNR - Expense Ratio Comparison

FTXL has a 0.60% expense ratio, which is higher than GUNR's 0.46% expense ratio.

Dividends

FTXL vs. GUNR - Dividend Comparison

FTXL's dividend yield for the trailing twelve months is around 0.13%, less than GUNR's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund	2.31%	2.81%	3.39%	3.55%	4.12%	3.61%	2.79%	3.25%	3.27%	2.00%	1.73%	4.50%

Frequently Asked Questions

Can I hold both FTXL and GUNR in my portfolio?

FTXL and GUNR have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTXL or GUNR?

FTXL has higher volatility (19.23%) compared to GUNR (5.11%). In terms of maximum drawdown, FTXL dropped -43.87% vs GUNR's -45.64%.

Which ETF is better, FTXL or GUNR?

On 5-year performance, FTXL leads with 33.62% vs 9.47% for GUNR. On fees, GUNR is cheaper at 0.46% per year. On volatility, GUNR has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXL or GUNR?

Over the 5-year period, FTXL has performed better with a 33.62% return vs 9.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXL or GUNR?

GUNR is cheaper with a 0.46% expense ratio, compared with 0.60% for FTXL.

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

GUNR has the higher dividend yield at 2.31%, compared with 0.13% for FTXL.

What is the main difference between FTXL and GUNR?

FTXL is categorized as Semiconductors, while GUNR is Commodity Producers Equities. FTXL tracks Nasdaq U.S. Smart Semiconductor Index, while GUNR tracks Morningstar Global Upstream Natural Resources Index. They also come from different issuers: First Trust and Northern Trust. Their fees differ too: 0.60% for FTXL and 0.46% for GUNR.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (5.10 vs 2.18), 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.