ILDR vs. TIME

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Innovation Leaders ETF (ILDR) and Clockwise Core Equity & Innovation ETF (TIME).

ILDR and TIME are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ILDR is an actively managed fund by First Trust. It was launched on May 25, 2021. TIME is an actively managed fund by Clockwise Capital. It was launched on Jan 27, 2022.

Performance

ILDR vs. TIME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Innovation Leaders ETF (ILDR) and Clockwise Core Equity & Innovation ETF (TIME). The values are adjusted to include any dividend payments, if applicable.

ILDR vs. TIME - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ILDR First Trust Innovation Leaders ETF	-9.73%	29.22%	10.62%
TIME Clockwise Core Equity & Innovation ETF	-7.92%	10.17%	6.75%

Returns By Period

In the year-to-date period, ILDR achieves a -9.73% return, which is significantly lower than TIME's -7.92% return.

ILDR

• 1D: 4.70%
• 1M: -4.31%
• YTD: -9.73%
• 6M: -8.06%
• 1Y: 27.69%
• 3Y*: 22.62%
• 5Y*: —
• 10Y*: —

TIME

• 1D: 2.20%
• 1M: -5.68%
• YTD: -7.92%
• 6M: -6.35%
• 1Y: 11.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ILDR vs. TIME - Expense Ratio Comparison

ILDR has a 0.75% expense ratio, which is lower than TIME's 1.00% expense ratio.

TIME

Clockwise Core Equity & Innovation ETF

ILDR

First Trust Innovation Leaders ETF

Return for Risk

ILDR vs. TIME — Risk / Return Rank

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

ILDR

ILDR Risk / Return Rank: 59
ILDR Sharpe Ratio Rank: 60
ILDR Sortino Ratio Rank: 63
ILDR Omega Ratio Rank: 59
ILDR Calmar Ratio Rank: 59
ILDR Martin Ratio Rank: 52

TIME

TIME Risk / Return Rank: 40
TIME Sharpe Ratio Rank: 43
TIME Sortino Ratio Rank: 42
TIME Omega Ratio Rank: 39
TIME Calmar Ratio Rank: 37
TIME Martin Ratio Rank: 39

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.

ILDR vs. TIME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Innovation Leaders ETF (ILDR) and Clockwise Core Equity & Innovation ETF (TIME). 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.

	ILDR	TIME	Difference
Sharpe ratio Return per unit of total volatility	1.05	0.76	+0.28
Sortino ratio Return per unit of downside risk	1.59	1.13	+0.46
Omega ratio Gain probability vs. loss probability	1.22	1.15	+0.07
Calmar ratio Return relative to maximum drawdown	1.50	0.90	+0.60
Martin ratio Return relative to average drawdown	5.02	3.48	+1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ILDR vs. TIME - Sharpe Ratio Comparison

The current ILDR Sharpe Ratio is 1.05, which is higher than the TIME Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of ILDR and TIME, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ILDR	TIME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.05	0.76	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.26	+0.06

Correlation

The correlation between ILDR and TIME is 0.82, 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.

Dividends

ILDR vs. TIME - Dividend Comparison

ILDR has not paid dividends to shareholders, while TIME's dividend yield for the trailing twelve months is around 10.88%.

	TTM	2025	2024	2023	2022	2021
ILDR First Trust Innovation Leaders ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.16%
TIME Clockwise Core Equity & Innovation ETF	10.88%	10.02%	15.84%	0.00%	0.00%	0.00%

Drawdowns

ILDR vs. TIME - Drawdown Comparison

The maximum ILDR drawdown since its inception was -44.61%, which is greater than TIME's maximum drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for ILDR and TIME.

Drawdown Indicators

	ILDR	TIME	Difference
Max Drawdown Largest peak-to-trough decline	-44.61%	-24.26%	-20.35%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-13.09%	-4.61%
Current Drawdown Current decline from peak	-13.83%	-11.18%	-2.65%
Average Drawdown Average peak-to-trough decline	-15.42%	-5.94%	-9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.28%	3.39%	+1.89%

Volatility

ILDR vs. TIME - Volatility Comparison

First Trust Innovation Leaders ETF (ILDR) has a higher volatility of 8.51% compared to Clockwise Core Equity & Innovation ETF (TIME) at 5.31%. This indicates that ILDR's price experiences larger fluctuations and is considered to be riskier than TIME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ILDR	TIME	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.51%	5.31%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	10.67%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	26.60%	15.02%	+11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.13%	17.99%	+8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.13%	17.99%	+8.14%