FTXL vs. PTF

Last updated Aug 2, 2026

FTXL (First Trust Nasdaq Semiconductor ETF) and PTF (Invesco Dorsey Wright Technology Momentum ETF) are both exchange-traded funds - FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index, while PTF is a Momentum fund tracking the Dorsey Wright Technology Technical Leaders Index. Both are passively managed. Over the past 5 years, FTXL returned 26.87%/yr vs 14.36%/yr for PTF. Their 0.78 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.60% expense ratio.

Performance

FTXL vs. PTF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Semiconductor ETF (FTXL) and Invesco Dorsey Wright Technology Momentum ETF (PTF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXL achieves a 67.20% return, which is significantly higher than PTF's 28.31% return.

FTXL

• 1D: -0.59%
• 1M: -13.49%
• 6M: 42.44%
• YTD: 67.20%
• 1Y: 127.03%
• 3Y*: 42.82%
• 5Y*: 26.87%
• 10Y*: —
• ALL TIME*: 27.99%

PTF

• 1D: 1.12%
• 1M: -13.47%
• 6M: 15.81%
• YTD: 28.31%
• 1Y: 43.81%
• 3Y*: 24.42%
• 5Y*: 14.36%
• 10Y*: 22.31%
• ALL TIME*: 13.32%

*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)
FTXL First Trust Nasdaq Semiconductor ETF	$143.42M	$100.61M	$86.48M
PTF Invesco Dorsey Wright Technology Momentum ETF	$24.83M	$20.96M	$16.60M

FTXL vs. PTF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTXL First Trust Nasdaq Semiconductor ETF	67.20%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%
PTF Invesco Dorsey Wright Technology Momentum ETF	28.31%	5.68%	43.65%	33.73%	-31.75%	18.10%	82.06%	46.71%	0.01%	32.07%

Correlation

The correlation between FTXL and PTF is 0.86, 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.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.78

The correlation between FTXL and PTF has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

FTXL vs. PTF - Sectors Allocation Comparison

Sectors	FTXL	PTF
Technology	99.6%	94.7%
Industrials	0.4%	1.8%
Basic Materials	-	-
Communication Services	-	4.5%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	1.6%
Financial Services	-	0.8%
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FTXL vs. PTF — Risk / Return Rank

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

FTXL

FTXL Risk / Return Rank: 91
FTXL Sharpe Ratio Rank: 95
FTXL Sortino Ratio Rank: 87
FTXL Omega Ratio Rank: 87
FTXL Calmar Ratio Rank: 90
FTXL Martin Ratio Rank: 93

PTF

PTF Risk / Return Rank: 35
PTF Sharpe Ratio Rank: 32
PTF Sortino Ratio Rank: 35
PTF Omega Ratio Rank: 36
PTF Calmar Ratio Rank: 31
PTF Martin Ratio Rank: 43

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.

FTXL vs. PTF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Semiconductor ETF (FTXL) and Invesco Dorsey Wright Technology Momentum ETF (PTF). 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	PTF	Difference
Sharpe ratio: Return per unit of total volatility	2.71	0.79	+1.93
Sortino ratio: Return per unit of downside risk	2.95	1.30	+1.65
Omega ratio: Gain probability vs. loss probability	1.39	1.17	+0.22
Calmar ratio: Return relative to maximum drawdown	3.83	1.04	+2.80
Martin ratio: Return relative to average drawdown	16.62	4.67	+11.95

FTXL vs. PTF - Sharpe Ratio Comparison

The current FTXL Sharpe Ratio is 2.71, which is higher than the PTF Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of FTXL and PTF, 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. PTF - Drawdown Comparison

The maximum FTXL drawdown since its inception was -43.87%, smaller than the maximum PTF drawdown of -55.38%. Use the drawdown chart below to compare losses from any high point for FTXL and PTF.

Drawdown Indicators

	FTXL	PTF	Difference
Max Drawdown Largest peak-to-trough decline	-43.87%	-55.38%	+11.51%
Max Drawdown (1Y) Largest decline over 1 year	-32.64%	-38.59%	+5.95%
Max Drawdown (3Y) Largest decline over 3 years	-41.57%	-38.59%	-2.98%
Max Drawdown (5Y) Largest decline over 5 years	-43.87%	-44.88%	+1.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.88%	—
Current Drawdown Current decline from peak	-27.09%	-29.07%	+1.98%
Average Drawdown Average peak-to-trough decline	-10.61%	-13.29%	+2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.51%	8.54%	-1.03%

Volatility

FTXL vs. PTF - Volatility Comparison

The current volatility for First Trust Nasdaq Semiconductor ETF (FTXL) is 18.94%, while Invesco Dorsey Wright Technology Momentum ETF (PTF) has a volatility of 28.01%. This indicates that FTXL experiences smaller price fluctuations and is considered to be less risky than PTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXL	PTF	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.94%	28.01%	-9.07%
Volatility (6M) Calculated over the trailing 6-month period	39.98%	43.33%	-3.35%
Volatility (1Y) Calculated over the trailing 1-year period	46.28%	50.91%	-4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.23%	37.96%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.28%	34.57%	+0.71%

FTXL vs. PTF - Expense Ratio Comparison

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

Dividends

FTXL vs. PTF - Dividend Comparison

FTXL's dividend yield for the trailing twelve months is around 0.11%, more than PTF's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXL First Trust Nasdaq Semiconductor ETF	0.11%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%
PTF Invesco Dorsey Wright Technology Momentum ETF	0.01%	0.21%	0.00%	0.07%	0.00%	0.00%	0.00%	0.00%	0.08%	0.04%	0.26%

Frequently Asked Questions

Can I hold both FTXL and PTF in my portfolio?

FTXL and PTF have a correlation of 0.86, 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 PTF?

PTF has higher volatility (28.01%) compared to FTXL (18.94%). In terms of maximum drawdown, FTXL dropped -43.87% vs PTF's -55.38%.

Which ETF is better, FTXL or PTF?

On 5-year performance, FTXL leads with 26.87% vs 14.36% for PTF. Both ETFs have the same 0.60% expense ratio. On volatility, FTXL has been the lower-risk option at 18.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXL or PTF?

Over the 5-year period, FTXL has performed better with a 26.87% return vs 14.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXL or PTF?

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

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

FTXL has the higher dividend yield at 0.11%, compared with 0.01% for PTF.

What is the main difference between FTXL and PTF?

FTXL is categorized as Semiconductors, while PTF is Momentum. FTXL tracks Nasdaq U.S. Smart Semiconductor Index, while PTF tracks Dorsey Wright Technology Technical Leaders Index. They also come from different issuers: First Trust and Invesco.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (2.71 vs 0.79), 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.