FTXN vs. IEO

Last updated Jun 4, 2026

FTXN (First Trust Nasdaq Oil & Gas ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both Energy Equities funds - FTXN tracks the Nasdaq U.S. Smart Oil & Gas Index while IEO tracks the Dow Jones U.S. Select Oil Exploration & Production Index. Both are passively managed. Over the past 5 years, FTXN returned 17.73%/yr vs 18.96%/yr for IEO. Their correlation of 0.91 suggests significant overlap in exposure. FTXN charges 0.60%/yr vs 0.42%/yr for IEO.

Performance

FTXN vs. IEO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Oil & Gas ETF (FTXN) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXN achieves a 32.57% return, which is significantly lower than IEO's 34.59% return.

FTXN

• 1D: 1.25%
• 1M: -3.04%
• YTD: 32.57%
• 6M: 28.04%
• 1Y: 39.70%
• 3Y*: 15.68%
• 5Y*: 17.73%
• 10Y*: —

IEO

• 1D: 1.66%
• 1M: -3.23%
• YTD: 34.59%
• 6M: 26.42%
• 1Y: 40.11%
• 3Y*: 16.01%
• 5Y*: 18.96%
• 10Y*: 10.42%

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

FTXN vs. IEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTXN First Trust Nasdaq Oil & Gas ETF	32.57%	-0.17%	4.06%	4.91%	47.45%	69.21%	-28.10%	3.20%	-20.99%	-2.29%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	34.59%	2.15%	-1.45%	3.57%	57.82%	75.57%	-32.77%	9.63%	-19.44%	0.33%

Correlation

The correlation between FTXN and IEO is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 26, 2016	0.91

The correlation between FTXN and IEO has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.

FTXN vs. IEO - Sectors Allocation Comparison

Sectors	FTXN	IEO
Energy	100.0%	99.3%
Basic Materials	-	0.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FTXN vs. IEO — Risk / Return Rank

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

FTXN

FTXN Risk / Return Rank: 50
FTXN Sharpe Ratio Rank: 50
FTXN Sortino Ratio Rank: 46
FTXN Omega Ratio Rank: 44
FTXN Calmar Ratio Rank: 60
FTXN Martin Ratio Rank: 49

IEO

IEO Risk / Return Rank: 45
IEO Sharpe Ratio Rank: 45
IEO Sortino Ratio Rank: 41
IEO Omega Ratio Rank: 40
IEO Calmar Ratio Rank: 56
IEO Martin Ratio Rank: 45

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.

FTXN vs. IEO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Oil & Gas ETF (FTXN) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.

	FTXN	IEO	Difference
Sharpe ratio Return per unit of total volatility	1.74	1.61	+0.13
Sortino ratio Return per unit of downside risk	2.29	2.12	+0.17
Omega ratio Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio Return relative to maximum drawdown	2.94	2.82	+0.12
Martin ratio Return relative to average drawdown	8.22	7.63	+0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTXN vs. IEO - Sharpe Ratio Comparison

The current FTXN Sharpe Ratio is 1.74, which is comparable to the IEO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FTXN and IEO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTXN	IEO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	1.61	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.62	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.17	+0.11

Drawdowns

FTXN vs. IEO - Drawdown Comparison

The maximum FTXN drawdown since its inception was -73.49%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for FTXN and IEO.

Drawdown Indicators

	FTXN	IEO	Difference
Max Drawdown Largest peak-to-trough decline	-73.49%	-79.17%	+5.68%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-14.30%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-26.96%	-31.46%	+4.50%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-31.46%	+1.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.00%	—
Current Drawdown Current decline from peak	-7.47%	-7.30%	-0.17%
Average Drawdown Average peak-to-trough decline	-19.24%	-26.27%	+7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	5.28%	-0.44%

Volatility

FTXN vs. IEO - Volatility Comparison

First Trust Nasdaq Oil & Gas ETF (FTXN) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO) have volatilities of 8.95% and 9.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXN	IEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.95%	9.32%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	19.86%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	22.98%	25.15%	-2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	30.54%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.80%	35.00%	-3.20%

FTXN vs. IEO - Expense Ratio Comparison

FTXN has a 0.60% expense ratio, which is higher than IEO's 0.42% expense ratio.

Dividends

FTXN vs. IEO - Dividend Comparison

FTXN's dividend yield for the trailing twelve months is around 2.04%, more than IEO's 1.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTXN First Trust Nasdaq Oil & Gas ETF	2.04%	2.83%	2.51%	3.41%	2.26%	1.04%	1.76%	2.72%	2.16%	1.78%	0.20%	0.00%
IEO iShares U.S. Oil & Gas Exploration & Production ETF	1.97%	2.61%	2.63%	3.00%	3.77%	2.62%	3.17%	1.85%	1.67%	0.94%	0.98%	2.03%

Frequently Asked Questions

Can I hold both FTXN and IEO in my portfolio?

With a correlation of 0.97, FTXN and IEO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FTXN or IEO?

IEO has higher volatility (9.32%) compared to FTXN (8.95%). In terms of maximum drawdown, FTXN dropped -73.49% vs IEO's -79.17%.

Which ETF is better, FTXN or IEO?

On 5-year performance, IEO leads with 18.96% vs 17.73% for FTXN. On fees, IEO is cheaper at 0.42% per year. On volatility, FTXN has been the lower-risk option at 8.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXN or IEO?

Over the 5-year period, IEO has performed better with a 18.96% return vs 17.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXN or IEO?

IEO is cheaper with a 0.42% expense ratio, compared with 0.60% for FTXN.

Which ETF pays a higher dividend yield, FTXN or IEO?

FTXN has the higher dividend yield at 2.04%, compared with 1.97% for IEO.

What is the main difference between FTXN and IEO?

FTXN tracks Nasdaq U.S. Smart Oil & Gas Index, while IEO tracks Dow Jones U.S. Select Oil Exploration & Production Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for FTXN and 0.42% for IEO.

Which has better risk-adjusted returns?

FTXN currently has the higher Sharpe Ratio (1.74 vs 1.61), 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.