FXL vs. FTXL

Last updated Jun 4, 2026

FXL (First Trust Technology AlphaDEX Fund) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FXL is a Technology Equities fund tracking the StrataQuant Technology Index, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, FXL returned 13.48%/yr vs 34.63%/yr for FTXL. Their correlation of 0.83 suggests significant overlap in exposure. FXL charges 0.61%/yr vs 0.60%/yr for FTXL.

Performance

FXL vs. FTXL - Performance Comparison

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

Returns By Period

In the year-to-date period, FXL achieves a 31.98% return, which is significantly lower than FTXL's 115.70% return.

FXL

• 1D: -0.88%
• 1M: 17.50%
• YTD: 31.98%
• 6M: 30.18%
• 1Y: 48.07%
• 3Y*: 26.93%
• 5Y*: 13.48%
• 10Y*: 21.15%

FTXL

• 1D: 2.21%
• 1M: 30.59%
• YTD: 115.70%
• 6M: 113.17%
• 1Y: 225.15%
• 3Y*: 61.52%
• 5Y*: 34.63%
• 10Y*: —

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

FXL vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXL First Trust Technology AlphaDEX Fund	31.98%	13.29%	16.13%	40.50%	-30.44%	18.20%	54.20%	38.66%	2.72%	35.82%
FTXL First Trust Nasdaq Semiconductor ETF	115.70%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between FXL and FTXL is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.83

The correlation between FXL and FTXL shifts across timeframes, from 0.75 (1 year) to 0.85 (5 years), reflecting how their relationship changes across market environments.

FXL vs. FTXL - Sectors Allocation Comparison

Sectors	FXL	FTXL
Technology	88.1%	99.5%
Communication Services	5.9%	-
Industrials	4.5%	0.5%
Consumer Cyclical	1.0%	-
Financial Services	0.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FXL vs. FTXL — Risk / Return Rank

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

FXL

FXL Risk / Return Rank: 63
FXL Sharpe Ratio Rank: 64
FXL Sortino Ratio Rank: 60
FXL Omega Ratio Rank: 57
FXL Calmar Ratio Rank: 71
FXL Martin Ratio Rank: 65

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 96
FTXL Omega Ratio Rank: 96
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

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.

FXL vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Technology AlphaDEX Fund (FXL) and First Trust Nasdaq Semiconductor ETF (FTXL). 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.

	FXL	FTXL	Difference
Sharpe ratio Return per unit of total volatility	2.16	6.33	-4.17
Sortino ratio Return per unit of downside risk	2.84	5.74	-2.91
Omega ratio Gain probability vs. loss probability	1.35	1.78	-0.43
Calmar ratio Return relative to maximum drawdown	3.56	15.62	-12.06
Martin ratio Return relative to average drawdown	11.95	58.28	-46.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXL vs. FTXL - Sharpe Ratio Comparison

The current FXL Sharpe Ratio is 2.16, which is lower than the FTXL Sharpe Ratio of 6.33. The chart below compares the historical Sharpe Ratios of FXL and FTXL, 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

	FXL	FTXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	6.33	-4.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.97	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.94	-0.38

Drawdowns

FXL vs. FTXL - Drawdown Comparison

The maximum FXL drawdown since its inception was -61.41%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FXL and FTXL.

Drawdown Indicators

	FXL	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-43.87%	-17.54%
Max Drawdown (1Y) Largest decline over 1 year	-13.56%	-14.51%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	-41.57%	+13.30%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-43.87%	+5.38%
Max Drawdown (10Y) Largest decline over 10 years	-38.49%	—	—
Current Drawdown Current decline from peak	-0.88%	0.00%	-0.88%
Average Drawdown Average peak-to-trough decline	-11.37%	-10.56%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	3.88%	+0.15%

Volatility

FXL vs. FTXL - Volatility Comparison

The current volatility for First Trust Technology AlphaDEX Fund (FXL) is 7.61%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 14.28%. This indicates that FXL experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXL	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	14.28%	-6.67%
Volatility (6M) Calculated over the trailing 6-month period	17.47%	28.98%	-11.51%
Volatility (1Y) Calculated over the trailing 1-year period	22.42%	35.94%	-13.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.12%	36.02%	-10.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.28%	34.25%	-8.97%

FXL vs. FTXL - Expense Ratio Comparison

FXL has a 0.61% expense ratio, which is higher than FTXL's 0.60% expense ratio.

Dividends

FXL vs. FTXL - Dividend Comparison

FXL has not paid dividends to shareholders, while FTXL's dividend yield for the trailing twelve months is around 0.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTXL First Trust Nasdaq Semiconductor ETF	0.12%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%	0.00%
FXL First Trust Technology AlphaDEX Fund	0.00%	0.01%	0.11%	0.41%	0.34%	0.11%	0.04%	0.37%	0.32%	0.27%	1.12%	0.36%

Frequently Asked Questions

Can I hold both FXL and FTXL in my portfolio?

FXL and FTXL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXL or FTXL?

FTXL has higher volatility (14.28%) compared to FXL (7.61%). In terms of maximum drawdown, FXL dropped -61.41% vs FTXL's -43.87%.

Which ETF is better, FXL or FTXL?

On 5-year performance, FTXL leads with 34.63% vs 13.48% for FXL. On fees, FTXL is cheaper at 0.60% per year. On volatility, FXL has been the lower-risk option at 7.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXL or FTXL?

Over the 5-year period, FTXL has performed better with a 34.63% return vs 13.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXL or FTXL?

FTXL is cheaper with a 0.60% expense ratio, compared with 0.61% for FXL.

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

FTXL has the higher dividend yield at 0.12%, compared with 0.00% for FXL.

What is the main difference between FXL and FTXL?

FXL is categorized as Technology Equities, while FTXL is Semiconductors. FXL tracks StrataQuant Technology Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index. Their fees differ too: 0.61% for FXL and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (6.33 vs 2.16), 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.