MAKX vs. NXTG

Last updated Jul 14, 2026

MAKX (ProShares S&P Kensho Smart Factories ETF) and NXTG (First Trust IndXX NextG ETF) are both Technology Equities funds - MAKX tracks the S&P Kensho Smart Factories Index while NXTG tracks the Indxx 5G & NextG Thematic Index. Both are passively managed. Over the past 3 years, MAKX returned 21.16%/yr vs 29.23%/yr for NXTG. Their correlation of 0.80 suggests significant overlap in exposure. MAKX charges 0.58%/yr vs 0.70%/yr for NXTG.

Performance

MAKX vs. NXTG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Smart Factories ETF (MAKX) and First Trust IndXX NextG ETF (NXTG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAKX achieves a 33.58% return, which is significantly lower than NXTG's 39.14% return.

MAKX

• 1D: -3.25%
• 1M: -4.07%
• 6M: 22.41%
• YTD: 33.58%
• 1Y: 41.45%
• 3Y*: 21.16%
• 5Y*: —
• 10Y*: —

NXTG

• 1D: -1.93%
• 1M: -3.97%
• 6M: 35.77%
• YTD: 39.14%
• 1Y: 56.52%
• 3Y*: 29.23%
• 5Y*: 16.53%
• 10Y*: 16.35%

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

MAKX vs. NXTG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAKX ProShares S&P Kensho Smart Factories ETF	33.58%	21.63%	8.27%	26.03%	-26.41%	3.10%
NXTG First Trust IndXX NextG ETF	39.14%	28.46%	12.85%	28.74%	-24.70%	9.64%

Correlation

The correlation between MAKX and NXTG is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.80

The correlation between MAKX and NXTG has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.

MAKX vs. NXTG - Sectors Allocation Comparison

Sectors	MAKX	NXTG
Technology	69.2%	71.2%
Industrials	20.0%	4.2%
Communication Services	8.4%	18.1%
Basic Materials	2.4%	-
Consumer Cyclical	-	0.4%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	6.2%
Utilities	-	-

Return for Risk

MAKX vs. NXTG — Risk / Return Rank

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

MAKX

MAKX Risk / Return Rank: 51
MAKX Sharpe Ratio Rank: 46
MAKX Sortino Ratio Rank: 44
MAKX Omega Ratio Rank: 43
MAKX Calmar Ratio Rank: 65
MAKX Martin Ratio Rank: 54

NXTG

NXTG Risk / Return Rank: 90
NXTG Sharpe Ratio Rank: 93
NXTG Sortino Ratio Rank: 89
NXTG Omega Ratio Rank: 90
NXTG Calmar Ratio Rank: 92
NXTG Martin Ratio Rank: 88

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.

MAKX vs. NXTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) and First Trust IndXX NextG ETF (NXTG). 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.

	MAKX	NXTG	Difference
Sharpe ratio: Return per unit of total volatility	1.30	2.61	-1.32
Sortino ratio: Return per unit of downside risk	1.83	3.26	-1.43
Omega ratio: Gain probability vs. loss probability	1.23	1.46	-0.23
Calmar ratio: Return relative to maximum drawdown	2.59	4.77	-2.17
Martin ratio: Return relative to average drawdown	7.21	14.87	-7.65

MAKX vs. NXTG - Sharpe Ratio Comparison

The current MAKX Sharpe Ratio is 1.30, which is lower than the NXTG Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of MAKX and NXTG, 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

MAKX vs. NXTG - Drawdown Comparison

The maximum MAKX drawdown since its inception was -40.27%, which is greater than NXTG's maximum drawdown of -33.61%. Use the drawdown chart below to compare losses from any high point for MAKX and NXTG.

Drawdown Indicators

	MAKX	NXTG	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-33.61%	-6.66%
Max Drawdown (1Y) Largest decline over 1 year	-16.05%	-11.91%	-4.14%
Max Drawdown (3Y) Largest decline over 3 years	-29.76%	-17.75%	-12.01%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.61%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.61%	—
Current Drawdown Current decline from peak	-10.77%	-10.70%	-0.07%
Average Drawdown Average peak-to-trough decline	-16.38%	-7.92%	-8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.76%	3.81%	+1.95%

Volatility

MAKX vs. NXTG - Volatility Comparison

ProShares S&P Kensho Smart Factories ETF (MAKX) has a higher volatility of 14.36% compared to First Trust IndXX NextG ETF (NXTG) at 9.13%. This indicates that MAKX's price experiences larger fluctuations and is considered to be riskier than NXTG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAKX	NXTG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.36%	9.13%	+5.23%
Volatility (6M) Calculated over the trailing 6-month period	25.00%	19.28%	+5.72%
Volatility (1Y) Calculated over the trailing 1-year period	32.23%	21.78%	+10.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.84%	18.67%	+10.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.84%	19.06%	+9.78%

MAKX vs. NXTG - Expense Ratio Comparison

MAKX has a 0.58% expense ratio, which is lower than NXTG's 0.70% expense ratio.

Dividends

MAKX vs. NXTG - Dividend Comparison

MAKX's dividend yield for the trailing twelve months is around 0.14%, less than NXTG's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAKX ProShares S&P Kensho Smart Factories ETF	0.14%	0.15%	0.24%	0.52%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NXTG First Trust IndXX NextG ETF	1.24%	1.56%	1.51%	2.15%	2.04%	1.97%	1.04%	0.77%	1.27%	1.65%	1.23%	1.11%

Frequently Asked Questions

Can I hold both MAKX and NXTG in my portfolio?

MAKX and NXTG have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAKX or NXTG?

MAKX has higher volatility (14.36%) compared to NXTG (9.13%). In terms of maximum drawdown, MAKX dropped -40.27% vs NXTG's -33.61%.

Which ETF is better, MAKX or NXTG?

On 3-year performance, NXTG leads with 29.23% vs 21.16% for MAKX. On fees, MAKX is cheaper at 0.58% per year. On volatility, NXTG has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAKX or NXTG?

Over the 3-year period, NXTG has performed better with a 29.23% return vs 21.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAKX or NXTG?

MAKX is cheaper with a 0.58% expense ratio, compared with 0.70% for NXTG.

Which ETF pays a higher dividend yield, MAKX or NXTG?

NXTG has the higher dividend yield at 1.24%, compared with 0.14% for MAKX.

What is the main difference between MAKX and NXTG?

MAKX tracks S&P Kensho Smart Factories Index, while NXTG tracks Indxx 5G & NextG Thematic Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.58% for MAKX and 0.70% for NXTG.

Which has better risk-adjusted returns?

NXTG currently has the higher Sharpe Ratio (2.61 vs 1.29), 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.