FTXO vs. GSIB

Last updated Aug 2, 2026

FTXO (First Trust Nasdaq Bank ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both Financials Equities funds. FTXO is passively managed, while GSIB is actively managed. Over the past year, FTXO returned 31.44% vs 49.09% for GSIB. Their 0.67 correlation means they have sometimes moved together and sometimes differently. FTXO charges 0.60%/yr vs 0.35%/yr for GSIB.

Performance

FTXO vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Bank ETF (FTXO) and Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTXO achieves a 13.13% return, which is significantly lower than GSIB's 22.66% return.

FTXO

• 1D: 0.23%
• 1M: 1.50%
• 6M: 10.69%
• YTD: 13.13%
• 1Y: 31.44%
• 3Y*: 24.65%
• 5Y*: 9.91%
• 10Y*: —
• ALL TIME*: 10.34%

GSIB

• 1D: -0.11%
• 1M: 6.55%
• 6M: 18.14%
• YTD: 22.66%
• 1Y: 49.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 45.58%

*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)
FTXO First Trust Nasdaq Bank ETF	$3.26M	$3.76M	$4.07M
GSIB Themes Global Systemically Important Banks ETF	$2.37M	$1.31M	$753.15K

FTXO vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTXO First Trust Nasdaq Bank ETF	13.13%	21.32%	29.05%	-1.13%
GSIB Themes Global Systemically Important Banks ETF	22.66%	61.67%	32.86%	1.75%

Correlation

The correlation between FTXO and GSIB is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.67

The correlation between FTXO and GSIB has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

FTXO vs. GSIB - Sectors Allocation Comparison

Sectors	FTXO	GSIB
Financial Services	100.0%	99.6%
Technology	0.4%	0.1%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FTXO vs. GSIB — Risk / Return Rank

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

FTXO

FTXO Risk / Return Rank: 51
FTXO Sharpe Ratio Rank: 58
FTXO Sortino Ratio Rank: 53
FTXO Omega Ratio Rank: 56
FTXO Calmar Ratio Rank: 47
FTXO Martin Ratio Rank: 43

GSIB

GSIB Risk / Return Rank: 90
GSIB Sharpe Ratio Rank: 94
GSIB Sortino Ratio Rank: 93
GSIB Omega Ratio Rank: 91
GSIB Calmar Ratio Rank: 87
GSIB Martin Ratio Rank: 85

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.

FTXO vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Bank ETF (FTXO) and Themes Global Systemically Important Banks ETF (GSIB). 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.

	FTXO	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.63	-1.26
Sortino ratio: Return per unit of downside risk	1.89	3.65	-1.76
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.19
Calmar ratio: Return relative to maximum drawdown	1.71	3.38	-1.67
Martin ratio: Return relative to average drawdown	4.77	11.87	-7.10

FTXO vs. GSIB - Sharpe Ratio Comparison

The current FTXO Sharpe Ratio is 1.37, which is lower than the GSIB Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of FTXO and GSIB, 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

FTXO vs. GSIB - Drawdown Comparison

The maximum FTXO drawdown since its inception was -55.26%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for FTXO and GSIB.

Drawdown Indicators

	FTXO	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-55.26%	-17.71%	-37.55%
Max Drawdown (1Y) Largest decline over 1 year	-16.69%	-13.90%	-2.79%
Max Drawdown (3Y) Largest decline over 3 years	-25.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.55%	—	—
Current Drawdown Current decline from peak	-1.45%	-0.11%	-1.34%
Average Drawdown Average peak-to-trough decline	-15.64%	-1.99%	-13.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.96%	3.95%	+2.01%

Volatility

FTXO vs. GSIB - Volatility Comparison

The current volatility for First Trust Nasdaq Bank ETF (FTXO) is 5.21%, while Themes Global Systemically Important Banks ETF (GSIB) has a volatility of 5.74%. This indicates that FTXO experiences smaller price fluctuations and is considered to be less risky than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTXO	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	5.74%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	14.93%	+0.57%
Volatility (1Y) Calculated over the trailing 1-year period	20.87%	17.90%	+2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.69%	18.46%	+8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.83%	18.46%	+11.37%

FTXO vs. GSIB - Expense Ratio Comparison

FTXO has a 0.60% expense ratio, which is higher than GSIB's 0.35% expense ratio.

Dividends

FTXO vs. GSIB - Dividend Comparison

FTXO's dividend yield for the trailing twelve months is around 1.72%, more than GSIB's 1.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FTXO First Trust Nasdaq Bank ETF	1.72%	1.92%	2.18%	3.20%	2.94%	1.64%	2.74%	2.53%	3.51%	1.09%	0.16%
GSIB Themes Global Systemically Important Banks ETF	1.55%	1.91%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTXO and GSIB in my portfolio?

FTXO and GSIB have a correlation of 0.65, 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 GSIB?

GSIB has higher volatility (5.74%) compared to FTXO (5.21%). In terms of maximum drawdown, FTXO dropped -55.26% vs GSIB's -17.71%.

Which ETF is better, FTXO or GSIB?

On 1-year performance, GSIB leads with 49.09% vs 31.44% for FTXO. On fees, GSIB is cheaper at 0.35% per year. On volatility, FTXO has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXO or GSIB?

Over the 1-year period, GSIB has performed better with a 49.09% return vs 31.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXO or GSIB?

GSIB is cheaper with a 0.35% expense ratio, compared with 0.60% for FTXO.

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

FTXO has the higher dividend yield at 1.72%, compared with 1.55% for GSIB.

What is the main difference between FTXO and GSIB?

They also come from different issuers: First Trust and Themes. Their fees differ too: 0.60% for FTXO and 0.35% for GSIB.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.63 vs 1.37), 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.