MKTN vs. NTRL

Last updated Aug 4, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and NTRL (First Trust Equity Market Neutral ETF) are both Equity Market Neutral funds. Both are actively managed. Their 0.43 correlation means their historical movements had little consistent relationship. MKTN charges 1.94%/yr vs 0.95%/yr for NTRL.

Performance

MKTN vs. NTRL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and First Trust Equity Market Neutral ETF (NTRL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MKTN

• 1D: -0.59%
• 1M: 3.96%
• 6M: 5.85%
• YTD: 5.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

NTRL

• 1D: -0.65%
• 1M: 3.74%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MKTN Federated Hermes MDT Market Neutral ETF	$689.04K	$500.50K	$628.77K
NTRL First Trust Equity Market Neutral ETF	$99.29K	$354.62K	$322.07K

MKTN vs. NTRL - Yearly Performance Comparison

	2026 (YTD)
MKTN Federated Hermes MDT Market Neutral ETF	5.69%
NTRL First Trust Equity Market Neutral ETF	2.94%

Correlation

The correlation between MKTN and NTRL is 0.43, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	0.43

Return for Risk

MKTN vs. NTRL - 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 Equity Market Neutral ETF (NTRL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

MKTN vs. NTRL - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, which is greater than NTRL's maximum drawdown of -1.81%. Use the drawdown chart below to compare losses from any high point for MKTN and NTRL.

Drawdown Indicators

	MKTN	NTRL	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-1.81%	-2.32%
Current Drawdown Current decline from peak	-0.59%	-0.66%	+0.07%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.74%	-0.34%

Volatility

Volatility by Period

	MKTN	NTRL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.67%	13.77%	-7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.67%	13.77%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	13.77%	-7.10%

MKTN vs. NTRL - Expense Ratio Comparison

MKTN has a 1.94% expense ratio, which is higher than NTRL's 0.95% expense ratio.

Dividends

MKTN vs. NTRL - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.48%, while NTRL has not paid dividends to shareholders.

Position	TTM	2025
MKTN Federated Hermes MDT Market Neutral ETF	0.48%	0.51%
NTRL First Trust Equity Market Neutral ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKTN and NTRL in my portfolio?

MKTN and NTRL have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MKTN or NTRL?

On fees, NTRL is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MKTN or NTRL?

NTRL is cheaper with a 0.95% expense ratio, compared with 1.94% for MKTN.

Which ETF pays a higher dividend yield, MKTN or NTRL?

MKTN has the higher dividend yield at 0.48%, compared with 0.00% for NTRL.

What is the main difference between MKTN and NTRL?

They also come from different issuers: Federated and First Trust. Their fees differ too: 1.94% for MKTN and 0.95% for NTRL.