QABA vs. IAT

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust NASDAQ ABA Community Bank Index Fund (QABA) and iShares U.S. Regional Banks ETF (IAT).

QABA and IAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QABA is a passively managed fund by First Trust that tracks the performance of the NASDAQ OMX ABA Community Bank Index. It was launched on Jun 29, 2009. IAT is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Regional Banks Index. It was launched on May 5, 2006. Both QABA and IAT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QABA vs. IAT - 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 iShares U.S. Regional Banks ETF (IAT). The values are adjusted to include any dividend payments, if applicable.

QABA vs. IAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QABA First Trust NASDAQ ABA Community Bank Index Fund	3.40%	4.62%	14.49%	-2.18%	-9.01%	34.20%	-10.70%	22.85%	-16.47%	0.75%
IAT iShares U.S. Regional Banks ETF	-1.89%	13.05%	24.36%	-8.53%	-20.61%	38.89%	-7.60%	31.38%	-17.45%	10.42%

Returns By Period

In the year-to-date period, QABA achieves a 3.40% return, which is significantly higher than IAT's -1.89% return. Over the past 10 years, QABA has underperformed IAT with an annualized return of 7.10%, while IAT has yielded a comparatively higher 8.31% annualized return.

QABA

• 1D: 1.52%
• 1M: -0.25%
• YTD: 3.40%
• 6M: 5.20%
• 1Y: 14.29%
• 3Y*: 13.70%
• 5Y*: 2.93%
• 10Y*: 7.10%

IAT

• 1D: 3.16%
• 1M: -3.69%
• YTD: -1.89%
• 6M: 4.08%
• 1Y: 19.12%
• 3Y*: 18.64%
• 5Y*: 1.94%
• 10Y*: 8.31%

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

QABA vs. IAT - Expense Ratio Comparison

QABA has a 0.60% expense ratio, which is higher than IAT's 0.42% expense ratio.

QABA

First Trust NASDAQ ABA Community Bank Index Fund

IAT

iShares U.S. Regional Banks ETF

Return for Risk

QABA vs. IAT — Risk / Return Rank

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

QABA

QABA Risk / Return Rank: 34
QABA Sharpe Ratio Rank: 31
QABA Sortino Ratio Rank: 32
QABA Omega Ratio Rank: 31
QABA Calmar Ratio Rank: 45
QABA Martin Ratio Rank: 31

IAT

IAT Risk / Return Rank: 41
IAT Sharpe Ratio Rank: 39
IAT Sortino Ratio Rank: 39
IAT Omega Ratio Rank: 42
IAT Calmar Ratio Rank: 48
IAT Martin Ratio Rank: 35

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.

QABA vs. IAT - 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 iShares U.S. Regional Banks ETF (IAT). 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.

	QABA	IAT	Difference
Sharpe ratio Return per unit of total volatility	0.56	0.70	-0.14
Sortino ratio Return per unit of downside risk	0.93	1.07	-0.14
Omega ratio Gain probability vs. loss probability	1.13	1.16	-0.03
Calmar ratio Return relative to maximum drawdown	1.17	1.19	-0.01
Martin ratio Return relative to average drawdown	2.72	3.13	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QABA vs. IAT - Sharpe Ratio Comparison

The current QABA Sharpe Ratio is 0.56, which is comparable to the IAT Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of QABA and IAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QABA	IAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	0.70	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.07	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.27	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.09	+0.24

Correlation

The correlation between QABA and IAT is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QABA vs. IAT - Dividend Comparison

QABA's dividend yield for the trailing twelve months is around 2.51%, less than IAT's 3.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QABA First Trust NASDAQ ABA Community Bank Index Fund	2.51%	2.52%	2.37%	2.71%	2.10%	1.68%	2.55%	1.95%	1.90%	1.42%	1.13%	1.39%
IAT iShares U.S. Regional Banks ETF	3.01%	2.94%	2.95%	3.56%	3.12%	1.88%	2.87%	2.49%	2.48%	1.55%	1.52%	1.78%

Drawdowns

QABA vs. IAT - Drawdown Comparison

The maximum QABA drawdown since its inception was -49.30%, smaller than the maximum IAT drawdown of -77.22%. Use the drawdown chart below to compare losses from any high point for QABA and IAT.

Drawdown Indicators

	QABA	IAT	Difference
Max Drawdown Largest peak-to-trough decline	-49.30%	-77.22%	+27.92%
Max Drawdown (1Y) Largest decline over 1 year	-12.49%	-17.49%	+5.00%
Max Drawdown (5Y) Largest decline over 5 years	-42.93%	-55.55%	+12.62%
Max Drawdown (10Y) Largest decline over 10 years	-49.30%	-55.55%	+6.25%
Current Drawdown Current decline from peak	-8.47%	-13.87%	+5.40%
Average Drawdown Average peak-to-trough decline	-11.51%	-27.14%	+15.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	6.62%	-1.23%

Volatility

QABA vs. IAT - Volatility Comparison

The current volatility for First Trust NASDAQ ABA Community Bank Index Fund (QABA) is 4.72%, while iShares U.S. Regional Banks ETF (IAT) has a volatility of 5.92%. This indicates that QABA experiences smaller price fluctuations and is considered to be less risky than IAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QABA	IAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	5.92%	-1.20%
Volatility (6M) Calculated over the trailing 6-month period	16.96%	16.94%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	25.50%	27.33%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.59%	29.09%	-2.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.71%	30.80%	-2.09%