QQEW vs. FTXL

Last updated Jun 4, 2026

QQEW (First Trust Nasdaq-100 Equal Weighted Index Fund) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - QQEW is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, QQEW returned 8.78%/yr vs 34.63%/yr for FTXL. Their correlation of 0.80 suggests significant overlap in exposure. QQEW charges 0.58%/yr vs 0.60%/yr for FTXL.

Performance

QQEW vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and First Trust Nasdaq Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQEW achieves a 12.15% return, which is significantly lower than FTXL's 115.70% return.

QQEW

• 1D: -0.78%
• 1M: 14.51%
• YTD: 12.15%
• 6M: 10.58%
• 1Y: 20.94%
• 3Y*: 16.13%
• 5Y*: 8.78%
• 10Y*: 14.57%

FTXL

• 1D: 2.21%
• 1M: 30.59%
• YTD: 115.70%
• 6M: 113.17%
• 1Y: 225.15%
• 3Y*: 61.52%
• 5Y*: 34.63%
• 10Y*: —

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

QQEW vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	12.15%	14.22%	7.00%	33.31%	-24.59%	17.75%	37.30%	35.87%	-5.30%	26.04%
FTXL First Trust Nasdaq Semiconductor ETF	115.70%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between QQEW and FTXL is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.80

Over the past year, the correlation between QQEW and FTXL has dropped to 0.59 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

QQEW vs. FTXL - Sectors Allocation Comparison

Sectors	QQEW	FTXL
Technology	55.9%	99.5%
Healthcare	14.7%	-
Consumer Cyclical	12.2%	-
Communication Services	10.3%	-
Industrials	3.3%	0.5%
Consumer Defensive	2.0%	-
Real Estate	1.6%	-
Basic Materials	-	-
Energy	-	-
Financial Services	-	-
Utilities	-	-

Return for Risk

QQEW vs. FTXL — Risk / Return Rank

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

QQEW

QQEW Risk / Return Rank: 31
QQEW Sharpe Ratio Rank: 34
QQEW Sortino Ratio Rank: 33
QQEW Omega Ratio Rank: 32
QQEW Calmar Ratio Rank: 27
QQEW Martin Ratio Rank: 28

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 96
FTXL Omega Ratio Rank: 96
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

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.

QQEW vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) 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.

	QQEW	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	1.25	6.33	-5.07
Sortino ratio: Return per unit of downside risk	1.81	5.74	-3.93
Omega ratio: Gain probability vs. loss probability	1.22	1.78	-0.56
Calmar ratio: Return relative to maximum drawdown	1.34	15.62	-14.28
Martin ratio: Return relative to average drawdown	4.09	58.28	-54.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQEW vs. FTXL - Sharpe Ratio Comparison

The current QQEW Sharpe Ratio is 1.25, which is lower than the FTXL Sharpe Ratio of 6.33. The chart below compares the historical Sharpe Ratios of QQEW and FTXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QQEW	FTXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	6.33	-5.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.97	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.94	-0.40

Drawdowns

QQEW vs. FTXL - Drawdown Comparison

The maximum QQEW drawdown since its inception was -58.16%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for QQEW and FTXL.

Drawdown Indicators

	QQEW	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-58.16%	-43.87%	-14.29%
Max Drawdown (1Y) Largest decline over 1 year	-15.74%	-14.51%	-1.23%
Max Drawdown (3Y) Largest decline over 3 years	-21.43%	-41.57%	+20.14%
Max Drawdown (5Y) Largest decline over 5 years	-32.12%	-43.87%	+11.75%
Max Drawdown (10Y) Largest decline over 10 years	-32.12%	—	—
Current Drawdown Current decline from peak	-1.53%	0.00%	-1.53%
Average Drawdown Average peak-to-trough decline	-8.30%	-10.56%	+2.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.13%	3.88%	+1.25%

Volatility

QQEW vs. FTXL - Volatility Comparison

The current volatility for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) is 5.54%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 14.28%. This indicates that QQEW experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QQEW	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	14.28%	-8.74%
Volatility (6M) Calculated over the trailing 6-month period	13.85%	28.98%	-15.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	35.94%	-19.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.76%	36.02%	-15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.87%	34.25%	-13.38%

QQEW vs. FTXL - Expense Ratio Comparison

QQEW has a 0.58% expense ratio, which is lower than FTXL's 0.60% expense ratio.

Dividends

QQEW vs. FTXL - Dividend Comparison

QQEW's dividend yield for the trailing twelve months is around 0.28%, more than FTXL's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTXL First Trust Nasdaq Semiconductor ETF	0.12%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%	0.00%
QQEW First Trust Nasdaq-100 Equal Weighted Index Fund	0.28%	0.41%	0.57%	0.70%	0.66%	0.24%	0.34%	0.48%	0.56%	0.48%	0.73%	0.61%

Frequently Asked Questions

Can I hold both QQEW and FTXL in my portfolio?

QQEW and FTXL have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQEW or FTXL?

FTXL has higher volatility (14.28%) compared to QQEW (5.54%). In terms of maximum drawdown, QQEW dropped -58.16% vs FTXL's -43.87%.

Which ETF is better, QQEW or FTXL?

On 5-year performance, FTXL leads with 34.63% vs 8.78% for QQEW. On fees, QQEW is cheaper at 0.58% per year. On volatility, QQEW has been the lower-risk option at 5.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQEW or FTXL?

Over the 5-year period, FTXL has performed better with a 34.63% return vs 8.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQEW or FTXL?

QQEW is cheaper with a 0.58% expense ratio, compared with 0.60% for FTXL.

Which ETF pays a higher dividend yield, QQEW or FTXL?

QQEW has the higher dividend yield at 0.28%, compared with 0.12% for FTXL.

What is the main difference between QQEW and FTXL?

QQEW is categorized as Nasdaq-100, while FTXL is Semiconductors. QQEW tracks NASDAQ-100 Equal Weighted Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index. Their fees differ too: 0.58% for QQEW and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (6.33 vs 1.25), 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.