FTXN vs. PXE
FTXN (First Trust Nasdaq Oil & Gas ETF) and PXE (Invesco Dynamic Energy Exploration & Production ETF) are both Energy Equities funds - FTXN tracks the Nasdaq U.S. Smart Oil & Gas Index while PXE tracks the Dynamic Energy Exploration & Production Intellidex Index. Both are passively managed. Over the past 5 years, FTXN returned 15.78%/yr vs 15.82%/yr for PXE. Their correlation of 0.91 suggests significant overlap in exposure. FTXN charges 0.60%/yr vs 0.63%/yr for PXE.
Performance
FTXN vs. PXE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FTXN having a 23.36% return and PXE slightly lower at 22.92%.
FTXN
- 1D
- 0.53%
- 1M
- -8.34%
- YTD
- 23.36%
- 6M
- 24.04%
- 1Y
- 26.63%
- 3Y*
- 13.55%
- 5Y*
- 15.78%
- 10Y*
- —
PXE
- 1D
- 0.26%
- 1M
- -8.41%
- YTD
- 22.92%
- 6M
- 22.87%
- 1Y
- 20.91%
- 3Y*
- 11.92%
- 5Y*
- 15.82%
- 10Y*
- 8.16%
FTXN vs. PXE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTXN First Trust Nasdaq Oil & Gas ETF | 23.36% | -0.17% | 4.06% | 4.91% | 47.45% | 69.21% | -28.10% | 3.20% | -20.99% | -2.29% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 22.92% | -2.82% | -1.86% | 7.69% | 58.32% | 94.04% | -36.76% | -1.69% | -23.35% | 1.02% |
Correlation
The correlation between FTXN and PXE is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2016 | 0.91 |
The correlation between FTXN and PXE has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
FTXN vs. PXE — Risk / Return Rank
FTXN
PXE
FTXN vs. PXE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Oil & Gas ETF (FTXN) and Invesco Dynamic Energy Exploration & Production ETF (PXE). 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.
| FTXN | PXE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.14 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 1.26 | +0.44 |
| Martin ratioReturn relative to average drawdown | 4.89 | 3.36 | +1.53 |
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Drawdowns
FTXN vs. PXE - Drawdown Comparison
The maximum FTXN drawdown since its inception was -73.49%, smaller than the maximum PXE drawdown of -83.99%. Use the drawdown chart below to compare losses from any high point for FTXN and PXE.
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Drawdown Indicators
| FTXN | PXE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.49% | -83.99% | +10.50% |
Max Drawdown (1Y)Largest decline over 1 year | -15.74% | -16.70% | +0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -26.96% | -37.65% | +10.69% |
Max Drawdown (5Y)Largest decline over 5 years | -29.97% | -37.65% | +7.68% |
Max Drawdown (10Y)Largest decline over 10 years | — | -80.17% | — |
Current DrawdownCurrent decline from peak | -13.90% | -14.98% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -19.19% | -27.95% | +8.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.46% | 6.24% | -0.78% |
Volatility
FTXN vs. PXE - Volatility Comparison
The current volatility for First Trust Nasdaq Oil & Gas ETF (FTXN) is 7.94%, while Invesco Dynamic Energy Exploration & Production ETF (PXE) has a volatility of 8.95%. This indicates that FTXN experiences smaller price fluctuations and is considered to be less risky than PXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTXN | PXE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.94% | 8.95% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 18.16% | 20.98% | -2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.41% | 27.96% | -4.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.67% | 33.65% | -3.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.78% | 37.00% | -5.22% |
FTXN vs. PXE - Expense Ratio Comparison
FTXN has a 0.60% expense ratio, which is lower than PXE's 0.63% expense ratio.
Dividends
FTXN vs. PXE - Dividend Comparison
FTXN's dividend yield for the trailing twelve months is around 2.20%, more than PXE's 1.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTXN First Trust Nasdaq Oil & Gas ETF | 2.20% | 2.83% | 2.51% | 3.41% | 2.26% | 1.04% | 1.76% | 2.72% | 2.16% | 1.78% | 0.20% | 0.00% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 1.94% | 2.98% | 2.54% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% |
Frequently Asked Questions
With a correlation of 0.95, FTXN and PXE 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.
PXE has higher volatility (8.95%) compared to FTXN (7.94%). In terms of maximum drawdown, FTXN dropped -73.49% vs PXE's -83.99%.
On 5-year performance, PXE leads with 15.82% vs 15.78% for FTXN. On fees, FTXN is cheaper at 0.60% per year. On volatility, FTXN has been the lower-risk option at 7.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PXE has performed better with a 15.82% return vs 15.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXN is cheaper with a 0.60% expense ratio, compared with 0.63% for PXE.
FTXN has the higher dividend yield at 2.20%, compared with 1.94% for PXE.
FTXN tracks Nasdaq U.S. Smart Oil & Gas Index, while PXE tracks Dynamic Energy Exploration & Production Intellidex Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.60% for FTXN and 0.63% for PXE.
FTXN currently has the higher Sharpe Ratio (1.15 vs 0.76), 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.
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