ISHP vs. CARZ

Last updated Jun 24, 2026

ISHP (First Trust S-Network Global E-Commerce ETF) and CARZ (First Trust NASDAQ Global Auto Index Fund) are both Consumer Discretionary Equities funds from First Trust - ISHP tracks the S-Network Global E-Commerce Index while CARZ tracks the NASDAQ OMX Global Automobile (TR). Both are passively managed. Over the past 5 years, ISHP returned 0.46%/yr vs 14.87%/yr for CARZ. A 0.54 correlation means they provide meaningful diversification when combined. ISHP charges 0.60%/yr vs 0.70%/yr for CARZ.

Performance

ISHP vs. CARZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S-Network Global E-Commerce ETF (ISHP) and First Trust NASDAQ Global Auto Index Fund (CARZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISHP achieves a -16.46% return, which is significantly lower than CARZ's 45.91% return.

ISHP

• 1D: -1.03%
• 1M: -3.26%
• YTD: -16.46%
• 6M: -16.45%
• 1Y: -14.21%
• 3Y*: 8.69%
• 5Y*: 0.46%
• 10Y*: —

CARZ

• 1D: -6.26%
• 1M: -0.36%
• YTD: 45.91%
• 6M: 45.04%
• 1Y: 96.22%
• 3Y*: 30.25%
• 5Y*: 14.87%
• 10Y*: 16.27%

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

ISHP vs. CARZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISHP First Trust S-Network Global E-Commerce ETF	-16.46%	12.27%	24.17%	22.24%	-33.79%	30.09%	15.33%	19.74%	-2.04%	7.66%
CARZ First Trust NASDAQ Global Auto Index Fund	45.91%	37.18%	3.26%	42.47%	-31.25%	18.09%	54.66%	11.39%	-23.91%	25.47%

Correlation

The correlation between ISHP and CARZ is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016	0.54

The correlation between ISHP and CARZ has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

ISHP vs. CARZ - Sectors Allocation Comparison

Sectors	ISHP	CARZ
Consumer Cyclical	41.1%	21.5%
Communication Services	24.8%	1.9%
Industrials	13.3%	7.5%
Technology	10.3%	34.6%
Real Estate	4.9%	-
Healthcare	2.5%	-
Financial Services	1.6%	-
Consumer Defensive	1.5%	-
Basic Materials	-	6.5%
Energy	-	-
Utilities	-	-

Return for Risk

ISHP vs. CARZ — Risk / Return Rank

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

ISHP

ISHP Risk / Return Rank: 3
ISHP Sharpe Ratio Rank: 3
ISHP Sortino Ratio Rank: 3
ISHP Omega Ratio Rank: 3
ISHP Calmar Ratio Rank: 4
ISHP Martin Ratio Rank: 3

CARZ

CARZ Risk / Return Rank: 92
CARZ Sharpe Ratio Rank: 94
CARZ Sortino Ratio Rank: 88
CARZ Omega Ratio Rank: 89
CARZ Calmar Ratio Rank: 94
CARZ Martin Ratio Rank: 94

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.

ISHP vs. CARZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Global E-Commerce ETF (ISHP) and First Trust NASDAQ Global Auto Index Fund (CARZ). 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.

	ISHP	CARZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	3.29	-4.10
Sortino ratio: Return per unit of downside risk	-1.04	3.72	-4.76
Omega ratio: Gain probability vs. loss probability	0.88	1.53	-0.65
Calmar ratio: Return relative to maximum drawdown	-0.58	6.70	-7.28
Martin ratio: Return relative to average drawdown	-1.15	24.83	-25.98

ISHP vs. CARZ - Sharpe Ratio Comparison

The current ISHP Sharpe Ratio is -0.81, which is lower than the CARZ Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of ISHP and CARZ, 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

ISHP vs. CARZ - Drawdown Comparison

The maximum ISHP drawdown since its inception was -47.57%, smaller than the maximum CARZ drawdown of -51.20%. Use the drawdown chart below to compare losses from any high point for ISHP and CARZ.

Drawdown Indicators

	ISHP	CARZ	Difference
Max Drawdown Largest peak-to-trough decline	-47.57%	-51.20%	+3.63%
Max Drawdown (1Y) Largest decline over 1 year	-24.75%	-14.44%	-10.31%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-27.84%	+3.09%
Max Drawdown (5Y) Largest decline over 5 years	-47.57%	-40.30%	-7.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-51.20%	—
Current Drawdown Current decline from peak	-23.26%	-7.71%	-15.55%
Average Drawdown Average peak-to-trough decline	-12.69%	-12.87%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.40%	3.89%	+8.51%

Volatility

ISHP vs. CARZ - Volatility Comparison

The current volatility for First Trust S-Network Global E-Commerce ETF (ISHP) is 5.73%, while First Trust NASDAQ Global Auto Index Fund (CARZ) has a volatility of 16.09%. This indicates that ISHP experiences smaller price fluctuations and is considered to be less risky than CARZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISHP	CARZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	16.09%	-10.36%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	24.90%	-10.79%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	29.42%	-11.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.26%	28.81%	-1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.08%	26.54%	-2.46%

ISHP vs. CARZ - Expense Ratio Comparison

ISHP has a 0.60% expense ratio, which is lower than CARZ's 0.70% expense ratio.

Dividends

ISHP vs. CARZ - Dividend Comparison

ISHP's dividend yield for the trailing twelve months is around 1.60%, more than CARZ's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CARZ First Trust NASDAQ Global Auto Index Fund	1.46%	2.13%	1.17%	1.40%	1.59%	2.25%	0.63%	3.23%	2.85%	2.11%	2.47%	1.64%
ISHP First Trust S-Network Global E-Commerce ETF	1.60%	1.34%	1.02%	1.58%	0.76%	0.53%	0.82%	1.16%	0.89%	1.65%	0.23%	0.00%

Frequently Asked Questions

Can I hold both ISHP and CARZ in my portfolio?

ISHP and CARZ have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISHP or CARZ?

CARZ has higher volatility (16.09%) compared to ISHP (5.73%). In terms of maximum drawdown, ISHP dropped -47.57% vs CARZ's -51.20%.

Which ETF is better, ISHP or CARZ?

On 5-year performance, CARZ leads with 14.87% vs 0.46% for ISHP. On fees, ISHP is cheaper at 0.60% per year. On volatility, ISHP has been the lower-risk option at 5.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISHP or CARZ?

Over the 5-year period, CARZ has performed better with a 14.87% return vs 0.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISHP or CARZ?

ISHP is cheaper with a 0.60% expense ratio, compared with 0.70% for CARZ.

Which ETF pays a higher dividend yield, ISHP or CARZ?

ISHP has the higher dividend yield at 1.60%, compared with 1.46% for CARZ.

What is the main difference between ISHP and CARZ?

ISHP tracks S-Network Global E-Commerce Index, while CARZ tracks NASDAQ OMX Global Automobile (TR). Their fees differ too: 0.60% for ISHP and 0.70% for CARZ.

Which has better risk-adjusted returns?

CARZ currently has the higher Sharpe Ratio (3.29 vs -0.81), 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.