FTXO vs. BPAY

Last updated Jun 4, 2026

FTXO (First Trust Nasdaq Bank ETF) and BPAY (BlackRock Future Financial and Technology ETF) are both Financials Equities funds. FTXO is passively managed, while BPAY is actively managed. Over the past 3 years, FTXO returned 24.18%/yr vs 8.49%/yr for BPAY. A 0.70 correlation means they provide meaningful diversification when combined. FTXO charges 0.60%/yr vs 0.70%/yr for BPAY.

Performance

FTXO vs. BPAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Bank ETF (FTXO) and BlackRock Future Financial and Technology ETF (BPAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXO achieves a 0.81% return, which is significantly higher than BPAY's -12.44% return.

FTXO

• 1D: -1.34%
• 1M: -0.87%
• YTD: 0.81%
• 6M: 4.64%
• 1Y: 23.41%
• 3Y*: 24.18%
• 5Y*: 5.35%
• 10Y*: —

BPAY

• 1D: -4.23%
• 1M: -4.47%
• YTD: -12.44%
• 6M: -14.32%
• 1Y: -10.80%
• 3Y*: 8.49%
• 5Y*: —
• 10Y*: —

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

FTXO vs. BPAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FTXO First Trust Nasdaq Bank ETF	0.81%	21.32%	29.05%	0.05%	-11.85%
BPAY BlackRock Future Financial and Technology ETF	-12.44%	8.54%	17.28%	13.19%	-16.39%

Correlation

The correlation between FTXO and BPAY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Aug 19, 2022	0.70

The correlation between FTXO and BPAY shifts across timeframes, from 0.54 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

FTXO vs. BPAY - Sectors Allocation Comparison

Sectors	FTXO	BPAY
Financial Services	100.0%	53.0%
Technology	0.4%	36.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	6.0%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	4.6%
Real Estate	-	2.2%
Utilities	-	-

Return for Risk

FTXO vs. BPAY — Risk / Return Rank

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

FTXO

FTXO Risk / Return Rank: 30
FTXO Sharpe Ratio Rank: 31
FTXO Sortino Ratio Rank: 30
FTXO Omega Ratio Rank: 30
FTXO Calmar Ratio Rank: 29
FTXO Martin Ratio Rank: 28

BPAY

BPAY Risk / Return Rank: 5
BPAY Sharpe Ratio Rank: 5
BPAY Sortino Ratio Rank: 5
BPAY Omega Ratio Rank: 5
BPAY Calmar Ratio Rank: 6
BPAY Martin Ratio Rank: 6

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.

FTXO vs. BPAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Bank ETF (FTXO) and BlackRock Future Financial and Technology ETF (BPAY). 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.

	FTXO	BPAY	Difference
Sharpe ratio: Return per unit of total volatility	1.13	-0.42	+1.55
Sortino ratio: Return per unit of downside risk	1.62	-0.42	+2.04
Omega ratio: Gain probability vs. loss probability	1.21	0.95	+0.26
Calmar ratio: Return relative to maximum drawdown	1.41	-0.32	+1.73
Martin ratio: Return relative to average drawdown	3.90	-0.64	+4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTXO vs. BPAY - Sharpe Ratio Comparison

The current FTXO Sharpe Ratio is 1.13, which is higher than the BPAY Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of FTXO and BPAY, 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

	FTXO	BPAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	-0.42	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.06	+0.25

Drawdowns

FTXO vs. BPAY - Drawdown Comparison

The maximum FTXO drawdown since its inception was -55.26%, which is greater than BPAY's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for FTXO and BPAY.

Drawdown Indicators

	FTXO	BPAY	Difference
Max Drawdown Largest peak-to-trough decline	-55.26%	-33.62%	-21.64%
Max Drawdown (1Y) Largest decline over 1 year	-16.69%	-33.62%	+16.93%
Max Drawdown (3Y) Largest decline over 3 years	-25.84%	-33.62%	+7.78%
Max Drawdown (5Y) Largest decline over 5 years	-46.55%	—	—
Current Drawdown Current decline from peak	-8.10%	-26.03%	+17.93%
Average Drawdown Average peak-to-trough decline	-15.88%	-10.54%	-5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	16.98%	-10.97%

Volatility

FTXO vs. BPAY - Volatility Comparison

The current volatility for First Trust Nasdaq Bank ETF (FTXO) is 5.69%, while BlackRock Future Financial and Technology ETF (BPAY) has a volatility of 6.91%. This indicates that FTXO experiences smaller price fluctuations and is considered to be less risky than BPAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXO	BPAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	6.91%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	15.46%	18.71%	-3.25%
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	26.01%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.01%	24.35%	+2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.98%	24.35%	+5.63%

FTXO vs. BPAY - Expense Ratio Comparison

FTXO has a 0.60% expense ratio, which is lower than BPAY's 0.70% expense ratio.

Dividends

FTXO vs. BPAY - Dividend Comparison

FTXO's dividend yield for the trailing twelve months is around 1.78%, less than BPAY's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BPAY BlackRock Future Financial and Technology ETF	7.41%	6.49%	0.48%	1.18%	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTXO First Trust Nasdaq Bank ETF	1.78%	1.92%	2.18%	3.20%	2.94%	1.64%	2.74%	2.53%	3.51%	1.09%	0.16%

Frequently Asked Questions

Can I hold both FTXO and BPAY in my portfolio?

FTXO and BPAY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTXO or BPAY?

BPAY has higher volatility (6.91%) compared to FTXO (5.69%). In terms of maximum drawdown, FTXO dropped -55.26% vs BPAY's -33.62%.

Which ETF is better, FTXO or BPAY?

On 3-year performance, FTXO leads with 24.18% vs 8.49% for BPAY. On fees, FTXO is cheaper at 0.60% per year. On volatility, FTXO has been the lower-risk option at 5.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXO or BPAY?

Over the 3-year period, FTXO has performed better with a 24.18% return vs 8.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXO or BPAY?

FTXO is cheaper with a 0.60% expense ratio, compared with 0.70% for BPAY.

Which ETF pays a higher dividend yield, FTXO or BPAY?

BPAY has the higher dividend yield at 7.41%, compared with 1.78% for FTXO.

What is the main difference between FTXO and BPAY?

They also come from different issuers: First Trust and BlackRock. Their fees differ too: 0.60% for FTXO and 0.70% for BPAY.

Which has better risk-adjusted returns?

FTXO currently has the higher Sharpe Ratio (1.13 vs -0.42), 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.