QABA vs. DFNL

Last updated Aug 2, 2026

QABA (First Trust NASDAQ ABA Community Bank Index Fund) and DFNL (Davis Select Financial ETF) are both Financials Equities funds. QABA is passively managed, while DFNL is actively managed. Over the past 5 years, QABA returned 8.03%/yr vs 14.05%/yr for DFNL. Their 0.80 correlation means they have sometimes moved together and sometimes differently. QABA charges 0.60%/yr vs 0.64%/yr for DFNL.

Performance

QABA vs. DFNL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ ABA Community Bank Index Fund (QABA) and Davis Select Financial ETF (DFNL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QABA achieves a 23.18% return, which is significantly higher than DFNL's 6.12% return.

QABA

• 1D: 0.11%
• 1M: 2.02%
• 6M: 16.07%
• YTD: 23.18%
• 1Y: 33.48%
• 3Y*: 17.94%
• 5Y*: 8.03%
• 10Y*: 8.38%
• ALL TIME*: 9.66%

DFNL

• 1D: 0.18%
• 1M: 1.36%
• 6M: 6.88%
• YTD: 6.12%
• 1Y: 22.75%
• 3Y*: 23.47%
• 5Y*: 14.05%
• 10Y*: —
• ALL TIME*: 12.61%

*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)
DFNL Davis Select Financial ETF	$3.69M	$3.03M	$2.46M
QABA First Trust NASDAQ ABA Community Bank Index Fund	$803.45K	$564.12K	$491.36K

QABA vs. DFNL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QABA First Trust NASDAQ ABA Community Bank Index Fund	23.18%	4.62%	14.49%	-2.18%	-9.01%	34.20%	-10.70%	22.85%	-16.47%	0.72%
DFNL Davis Select Financial ETF	6.12%	28.59%	28.56%	14.45%	-8.45%	31.25%	-4.97%	27.37%	-11.59%	20.34%

Correlation

The correlation between QABA and DFNL is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Jan 12, 2017	0.80

The correlation between QABA and DFNL has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

QABA vs. DFNL - Sectors Allocation Comparison

Sectors	QABA	DFNL
Financial Services	99.7%	93.7%
Industrials	0.3%	2.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.9%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	3.0%
Utilities	-	-

Return for Risk

QABA vs. DFNL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QABA

QABA Risk / Return Rank: 61
QABA Sharpe Ratio Rank: 59
QABA Sortino Ratio Rank: 59
QABA Omega Ratio Rank: 60
QABA Calmar Ratio Rank: 71
QABA Martin Ratio Rank: 55

DFNL

DFNL Risk / Return Rank: 52
DFNL Sharpe Ratio Rank: 60
DFNL Sortino Ratio Rank: 58
DFNL Omega Ratio Rank: 56
DFNL Calmar Ratio Rank: 45
DFNL Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QABA vs. DFNL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ ABA Community Bank Index Fund (QABA) and Davis Select Financial ETF (DFNL). 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.

	QABA	DFNL	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.42	-0.01
Sortino ratio: Return per unit of downside risk	2.02	2.00	+0.02
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.48	1.63	+0.85
Martin ratio: Return relative to average drawdown	6.49	4.62	+1.87

QABA vs. DFNL - Sharpe Ratio Comparison

The current QABA Sharpe Ratio is 1.41, which is comparable to the DFNL Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of QABA and DFNL, 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

QABA vs. DFNL - Drawdown Comparison

The maximum QABA drawdown since its inception was -49.30%, which is greater than DFNL's maximum drawdown of -44.51%. Use the drawdown chart below to compare losses from any high point for QABA and DFNL.

Drawdown Indicators

	QABA	DFNL	Difference
Max Drawdown Largest peak-to-trough decline	-49.30%	-44.51%	-4.79%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-12.94%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-25.82%	-16.05%	-9.77%
Max Drawdown (5Y) Largest decline over 5 years	-42.93%	-26.27%	-16.66%
Max Drawdown (10Y) Largest decline over 10 years	-49.30%	—	—
Current Drawdown Current decline from peak	-1.28%	-1.33%	+0.05%
Average Drawdown Average peak-to-trough decline	-11.33%	-7.57%	-3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	4.55%	+0.21%

Volatility

QABA vs. DFNL - Volatility Comparison

First Trust NASDAQ ABA Community Bank Index Fund (QABA) has a higher volatility of 5.34% compared to Davis Select Financial ETF (DFNL) at 4.10%. This indicates that QABA's price experiences larger fluctuations and is considered to be riskier than DFNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QABA	DFNL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	4.10%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	11.47%	+3.01%
Volatility (1Y) Calculated over the trailing 1-year period	22.01%	14.86%	+7.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.22%	19.12%	+7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.59%	22.50%	+6.09%

QABA vs. DFNL - Expense Ratio Comparison

QABA has a 0.60% expense ratio, which is lower than DFNL's 0.64% expense ratio.

Dividends

QABA vs. DFNL - Dividend Comparison

QABA's dividend yield for the trailing twelve months is around 2.22%, more than DFNL's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFNL Davis Select Financial ETF	1.29%	1.37%	2.19%	2.33%	3.34%	2.45%	1.45%	2.52%	3.12%	1.10%	0.00%	0.00%
QABA First Trust NASDAQ ABA Community Bank Index Fund	2.22%	2.52%	2.37%	2.71%	2.10%	1.68%	2.55%	1.95%	1.90%	1.42%	1.13%	1.39%

Frequently Asked Questions

Can I hold both QABA and DFNL in my portfolio?

QABA and DFNL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QABA or DFNL?

QABA has higher volatility (5.34%) compared to DFNL (4.10%). In terms of maximum drawdown, QABA dropped -49.30% vs DFNL's -44.51%.

Which ETF is better, QABA or DFNL?

On 5-year performance, DFNL leads with 14.05% vs 8.03% for QABA. On fees, QABA is cheaper at 0.60% per year. On volatility, DFNL has been the lower-risk option at 4.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QABA or DFNL?

Over the 5-year period, DFNL has performed better with a 14.05% return vs 8.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QABA or DFNL?

QABA is cheaper with a 0.60% expense ratio, compared with 0.64% for DFNL.

Which ETF pays a higher dividend yield, QABA or DFNL?

QABA has the higher dividend yield at 2.22%, compared with 1.29% for DFNL.

What is the main difference between QABA and DFNL?

They also come from different issuers: First Trust and Davis. Their fees differ too: 0.60% for QABA and 0.64% for DFNL.

Which has better risk-adjusted returns?

DFNL currently has the higher Sharpe Ratio (1.42 vs 1.41), 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.