NTRL vs. CIBR

Last updated Jul 18, 2026

NTRL (First Trust Equity Market Neutral ETF) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - NTRL is a Equity Market Neutral fund actively managed by First Trust, while CIBR is a Cybersecurity fund tracking the Nasdaq CTA Cybersecurity Index. NTRL is actively managed, while CIBR is passively managed. At a correlation of -0.42, they often move in opposite directions. NTRL charges 0.95%/yr vs 0.60%/yr for CIBR.

Performance

NTRL vs. CIBR - Performance Comparison

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

Returns By Period

NTRL

• 1D: 0.29%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CIBR

• 1D: 0.51%
• 1M: 9.75%
• 6M: 28.77%
• YTD: 29.60%
• 1Y: 25.40%
• 3Y*: 26.08%
• 5Y*: 14.90%
• 10Y*: 18.39%

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

NTRL vs. CIBR - Yearly Performance Comparison

	2026 (YTD)
NTRL First Trust Equity Market Neutral ETF	0.53%
CIBR First Trust NASDAQ Cybersecurity ETF	9.77%

Correlation

The correlation between NTRL and CIBR is -0.42, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026	-0.42

Return for Risk

NTRL vs. CIBR — Risk / Return Rank

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

NTRL

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

CIBR

CIBR Risk / Return Rank: 31
CIBR Sharpe Ratio Rank: 33
CIBR Sortino Ratio Rank: 34
CIBR Omega Ratio Rank: 32
CIBR Calmar Ratio Rank: 28
CIBR Martin Ratio Rank: 26

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.

NTRL vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Equity Market Neutral ETF (NTRL) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	NTRL	CIBR	Difference
Sharpe ratio: Return per unit of total volatility	—	0.99	—
Sortino ratio: Return per unit of downside risk	—	1.50	—
Omega ratio: Gain probability vs. loss probability	—	1.19	—
Calmar ratio: Return relative to maximum drawdown	—	1.16	—
Martin ratio: Return relative to average drawdown	—	2.69	—

Drawdowns

NTRL vs. CIBR - Drawdown Comparison

The maximum NTRL drawdown since its inception was -1.54%, smaller than the maximum CIBR drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for NTRL and CIBR.

Drawdown Indicators

	NTRL	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-1.54%	-33.89%	+32.35%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.99%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.89%	—
Current Drawdown Current decline from peak	0.00%	-2.50%	+2.50%
Average Drawdown Average peak-to-trough decline	-0.73%	-8.63%	+7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.48%	—

Volatility

Volatility by Period

	NTRL	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.59%	25.77%	-15.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.59%	25.25%	-14.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.59%	23.62%	-13.03%

NTRL vs. CIBR - Expense Ratio Comparison

NTRL has a 0.95% expense ratio, which is higher than CIBR's 0.60% expense ratio.

Dividends

NTRL vs. CIBR - Dividend Comparison

NTRL has not paid dividends to shareholders, while CIBR's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.42%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
NTRL First Trust Equity Market Neutral ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NTRL and CIBR in my portfolio?

NTRL and CIBR have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NTRL or CIBR?

On fees, CIBR is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NTRL or CIBR?

CIBR is cheaper with a 0.60% expense ratio, compared with 0.95% for NTRL.

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

CIBR has the higher dividend yield at 0.42%, compared with 0.00% for NTRL.

What is the main difference between NTRL and CIBR?

NTRL is categorized as Equity Market Neutral, while CIBR is Cybersecurity. Their fees differ too: 0.95% for NTRL and 0.60% for CIBR.