FXL vs. QTEC

Last updated Aug 2, 2026

FXL (First Trust Technology AlphaDEX Fund) and QTEC (First Trust NASDAQ-100 Technology Sector Index Fund) are both exchange-traded funds - FXL is a Technology Equities fund tracking the StrataQuant Technology Index, while QTEC is a Nasdaq-100 fund tracking the NASDAQ-100 Technology Sector Index. Both are passively managed. Over the past 10 years, FXL returned 19.60%/yr vs 21.00%/yr for QTEC. Their correlation of 0.92 means they have usually moved in the same direction. FXL charges 0.61%/yr vs 0.57%/yr for QTEC.

Performance

FXL vs. QTEC - 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-100 Technology Sector Index Fund (QTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXL achieves a 18.85% return, which is significantly lower than QTEC's 29.69% return. Over the past 10 years, FXL has underperformed QTEC with an annualized return of 19.60%, while QTEC has yielded a comparatively higher 21.00% annualized return.

FXL

• 1D: 1.36%
• 1M: -2.51%
• 6M: 17.90%
• YTD: 18.85%
• 1Y: 27.83%
• 3Y*: 18.89%
• 5Y*: 9.99%
• 10Y*: 19.60%
• ALL TIME*: 13.00%

QTEC

• 1D: 0.27%
• 1M: -5.23%
• 6M: 26.76%
• YTD: 29.69%
• 1Y: 42.45%
• 3Y*: 23.84%
• 5Y*: 12.98%
• 10Y*: 21.00%
• ALL TIME*: 14.98%

*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)
FXL First Trust Technology AlphaDEX Fund	$26.02M	$18.35M	$33.60M
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	$78.15M	$73.99M	$89.17M

FXL vs. QTEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXL First Trust Technology AlphaDEX Fund	18.85%	13.29%	16.13%	40.50%	-30.44%	18.20%	54.20%	38.66%	2.72%	35.82%
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	29.69%	22.28%	7.32%	67.02%	-39.83%	26.89%	38.76%	48.22%	-4.62%	37.78%

Correlation

The correlation between FXL and QTEC is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.92

The correlation between FXL and QTEC has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

FXL vs. QTEC - Sectors Allocation Comparison

Sectors	FXL	QTEC
Technology	90.1%	85.4%
Communication Services	5.0%	8.3%
Industrials	3.6%	2.1%
Consumer Cyclical	0.9%	2.1%
Financial Services	0.4%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

FXL vs. QTEC — Risk / Return Rank

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

FXL

FXL Risk / Return Rank: 40
FXL Sharpe Ratio Rank: 39
FXL Sortino Ratio Rank: 39
FXL Omega Ratio Rank: 36
FXL Calmar Ratio Rank: 46
FXL Martin Ratio Rank: 43

QTEC

QTEC Risk / Return Rank: 60
QTEC Sharpe Ratio Rank: 60
QTEC Sortino Ratio Rank: 56
QTEC Omega Ratio Rank: 54
QTEC Calmar Ratio Rank: 72
QTEC Martin Ratio Rank: 58

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.

FXL vs. QTEC - 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-100 Technology Sector Index Fund (QTEC). 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.

	FXL	QTEC	Difference
Sharpe ratio: Return per unit of total volatility	0.97	1.40	-0.43
Sortino ratio: Return per unit of downside risk	1.43	1.92	-0.49
Omega ratio: Gain probability vs. loss probability	1.17	1.24	-0.07
Calmar ratio: Return relative to maximum drawdown	1.64	2.46	-0.82
Martin ratio: Return relative to average drawdown	4.70	6.90	-2.20

FXL vs. QTEC - Sharpe Ratio Comparison

The current FXL Sharpe Ratio is 0.97, which is lower than the QTEC Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of FXL and QTEC, 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

FXL vs. QTEC - Drawdown Comparison

The maximum FXL drawdown since its inception was -61.41%, roughly equal to the maximum QTEC drawdown of -58.86%. Use the drawdown chart below to compare losses from any high point for FXL and QTEC.

Drawdown Indicators

	FXL	QTEC	Difference
Max Drawdown Largest peak-to-trough decline	-61.41%	-58.86%	-2.55%
Max Drawdown (1Y) Largest decline over 1 year	-15.21%	-16.03%	+0.82%
Max Drawdown (3Y) Largest decline over 3 years	-28.27%	-29.00%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-45.54%	+7.05%
Max Drawdown (10Y) Largest decline over 10 years	-38.49%	-45.54%	+7.05%
Current Drawdown Current decline from peak	-10.74%	-11.08%	+0.34%
Average Drawdown Average peak-to-trough decline	-11.34%	-9.86%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	5.72%	-0.42%

Volatility

FXL vs. QTEC - Volatility Comparison

The current volatility for First Trust Technology AlphaDEX Fund (FXL) is 8.61%, while First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) has a volatility of 9.69%. This indicates that FXL experiences smaller price fluctuations and is considered to be less risky than QTEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXL	QTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.61%	9.69%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	23.97%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	25.76%	28.24%	-2.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.76%	30.05%	-4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.52%	27.88%	-2.36%

FXL vs. QTEC - Expense Ratio Comparison

FXL has a 0.61% expense ratio, which is higher than QTEC's 0.57% expense ratio.

Dividends

FXL vs. QTEC - Dividend Comparison

FXL has not paid dividends to shareholders, while QTEC's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	0.01%	0.00%	0.02%	0.14%	0.15%	0.02%	0.44%	0.68%	0.91%	0.80%	1.29%	0.99%

Frequently Asked Questions

Can I hold both FXL and QTEC in my portfolio?

With a correlation of 0.95, FXL and QTEC 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, FXL or QTEC?

QTEC has higher volatility (9.69%) compared to FXL (8.61%). In terms of maximum drawdown, FXL dropped -61.41% vs QTEC's -58.86%.

Which ETF is better, FXL or QTEC?

On 10-year performance, QTEC leads with 21.00% vs 19.60% for FXL. On fees, QTEC is cheaper at 0.57% per year. On volatility, FXL has been the lower-risk option at 8.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXL or QTEC?

Over the 10-year period, QTEC has performed better with a 21.00% return vs 19.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXL or QTEC?

QTEC is cheaper with a 0.57% expense ratio, compared with 0.61% for FXL.

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

QTEC has the higher dividend yield at 0.01%, compared with 0.00% for FXL.

What is the main difference between FXL and QTEC?

FXL is categorized as Technology Equities, while QTEC is Nasdaq-100. FXL tracks StrataQuant Technology Index, while QTEC tracks NASDAQ-100 Technology Sector Index. Their fees differ too: 0.61% for FXL and 0.57% for QTEC.

Which has better risk-adjusted returns?

QTEC currently has the higher Sharpe Ratio (1.40 vs 0.97), 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.