MKTN vs. FTXL
MKTN (Federated Hermes MDT Market Neutral ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - MKTN is a Equity Market Neutral fund actively managed by Federated, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. MKTN is actively managed, while FTXL is passively managed. Their -0.17 correlation means they have often moved in opposite directions in the past. MKTN charges 1.94%/yr vs 0.60%/yr for FTXL.
Performance
MKTN vs. FTXL - Performance Comparison
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Returns By Period
In the year-to-date period, MKTN achieves a 5.83% return, which is significantly lower than FTXL's 68.79% return.
MKTN
- 1D
- -0.59%
- 1M
- 3.96%
- 6M
- 5.85%
- YTD
- 5.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FTXL
- 1D
- 0.95%
- 1M
- -12.68%
- 6M
- 40.05%
- YTD
- 68.79%
- 1Y
- 129.18%
- 3Y*
- 45.38%
- 5Y*
- 26.40%
- 10Y*
- —
- ALL TIME*
- 28.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $142.99M | $99.08M | $87.36M | |
| $689.04K | $500.50K | $628.77K |
MKTN vs. FTXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MKTN Federated Hermes MDT Market Neutral ETF | 5.83% | 3.22% |
FTXL First Trust Nasdaq Semiconductor ETF | 68.79% | 16.89% |
Correlation
The correlation between MKTN and FTXL is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025 | -0.17 |
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Return for Risk
MKTN vs. FTXL — Risk / Return Rank
MKTN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FTXL
MKTN vs. FTXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and First Trust Nasdaq Semiconductor ETF (FTXL). 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.
| MKTN | FTXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.40 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.98 | — |
| Martin ratioReturn relative to average drawdown | — | 16.86 | — |
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Drawdowns
MKTN vs. FTXL - Drawdown Comparison
The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for MKTN and FTXL.
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Drawdown Indicators
| MKTN | FTXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.13% | -43.87% | +39.74% |
Max Drawdown (1Y)Largest decline over 1 year | — | -32.64% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -41.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.87% | — |
Current DrawdownCurrent decline from peak | -0.59% | -26.40% | +25.81% |
Average DrawdownAverage peak-to-trough decline | -1.08% | -10.61% | +9.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.69% | — |
Volatility
MKTN vs. FTXL - Volatility Comparison
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Volatility by Period
| MKTN | FTXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 18.15% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 39.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 46.19% | -39.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.67% | 38.25% | -31.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 35.28% | -28.61% |
MKTN vs. FTXL - Expense Ratio Comparison
MKTN has a 1.94% expense ratio, which is higher than FTXL's 0.60% expense ratio.
Dividends
MKTN vs. FTXL - Dividend Comparison
MKTN's dividend yield for the trailing twelve months is around 0.48%, more than FTXL's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FTXL First Trust Nasdaq Semiconductor ETF | 0.11% | 0.28% | 0.54% | 0.60% | 0.89% | 0.25% | 0.48% | 0.92% | 0.71% | 0.47% | 0.12% |
MKTN Federated Hermes MDT Market Neutral ETF | 0.48% | 0.51% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKTN and FTXL have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FTXL is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FTXL is cheaper with a 0.60% expense ratio, compared with 1.94% for MKTN.
MKTN has the higher dividend yield at 0.48%, compared with 0.11% for FTXL.
MKTN is categorized as Equity Market Neutral, while FTXL is Semiconductors. They also come from different issuers: Federated and First Trust. Their fees differ too: 1.94% for MKTN and 0.60% for FTXL.
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