FXL vs. QTEC
Compare and contrast key facts about First Trust Technology AlphaDEX Fund (FXL) and First Trust NASDAQ-100 Technology Sector Index Fund (QTEC).
FXL and QTEC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FXL is a passively managed fund by First Trust that tracks the performance of the StrataQuant Technology Index. It was launched on May 8, 2007. QTEC is a passively managed fund by First Trust that tracks the performance of the NASDAQ-100 Technology Sector Index. It was launched on Apr 19, 2006. Both FXL and QTEC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FXL or QTEC.
Key characteristics
| FXL | QTEC | |
|---|---|---|
| YTD Return | 18.47% | 13.55% |
| 1Y Return | 38.16% | 34.95% |
| 3Y Return (Ann) | 3.41% | 3.67% |
| 5Y Return (Ann) | 17.56% | 16.49% |
| 10Y Return (Ann) | 16.89% | 17.51% |
| Sharpe Ratio | 1.79 | 1.46 |
| Sortino Ratio | 2.40 | 1.99 |
| Omega Ratio | 1.31 | 1.26 |
| Calmar Ratio | 1.83 | 1.90 |
| Martin Ratio | 8.26 | 5.89 |
| Ulcer Index | 4.43% | 5.78% |
| Daily Std Dev | 20.44% | 23.28% |
| Max Drawdown | -61.41% | -58.86% |
| Current Drawdown | 0.00% | -3.00% |
Correlation
The correlation between FXL and QTEC is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FXL vs. QTEC - Performance Comparison
In the year-to-date period, FXL achieves a 18.47% return, which is significantly higher than QTEC's 13.55% return. Both investments have delivered pretty close results over the past 10 years, with FXL having a 16.89% annualized return and QTEC not far ahead at 17.51%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FXL vs. QTEC - Expense Ratio Comparison
FXL has a 0.61% expense ratio, which is higher than QTEC's 0.57% expense ratio.
Risk-Adjusted Performance
FXL vs. QTEC - Risk-Adjusted Performance 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.
Dividends
FXL vs. QTEC - Dividend Comparison
FXL's dividend yield for the trailing twelve months is around 0.34%, more than QTEC's 0.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXL First Trust Technology AlphaDEX Fund | 0.34% | 0.41% | 0.34% | 0.11% | 0.04% | 0.37% | 0.32% | 0.27% | 1.13% | 0.36% | 0.63% | 0.32% |
QTEC First Trust NASDAQ-100 Technology Sector Index Fund | 0.04% | 0.14% | 0.15% | 0.02% | 0.44% | 0.68% | 0.91% | 0.80% | 1.29% | 0.99% | 1.22% | 0.72% |
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. For additional features, visit the drawdowns tool.
Volatility
FXL vs. QTEC - Volatility Comparison
The current volatility for First Trust Technology AlphaDEX Fund (FXL) is 5.95%, while First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) has a volatility of 7.47%. 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.