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QQXT vs. SMH
Performance
Return for Risk
Dividends
Drawdowns
Volatility

QQXT vs. SMH

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) and VanEck Semiconductor ETF (SMH).

QQXT and SMH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QQXT is a passively managed fund by First Trust that tracks the performance of the NASDAQ-100 Ex-Tech Sector Index. It was launched on Feb 8, 2007. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011. Both QQXT and SMH 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

QQXT vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

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QQXT vs. SMH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQXT
First Trust Nasdaq-100 Ex-Technology Sector Index Fund		-1.55%8.02%6.71%16.81%-13.09%12.02%36.85%28.02%-5.74%20.69%
SMH
VanEck Semiconductor ETF		6.46%49.17%39.10%73.38%-33.53%42.13%55.53%64.45%-9.05%38.48%

Returns By Period

In the year-to-date period, QQXT achieves a -1.55% return, which is significantly lower than SMH's 6.46% return. Over the past 10 years, QQXT has underperformed SMH with an annualized return of 10.10%, while SMH has yielded a comparatively higher 31.28% annualized return.

QQXT

1D
1.28%
1M
-5.96%
YTD
-1.55%
6M
-0.43%
1Y
5.33%
3Y*
6.96%
5Y*
4.77%
10Y*
10.10%

SMH

1D
5.76%
1M
-5.65%
YTD
6.46%
6M
17.84%
1Y
81.87%
3Y*
43.47%
5Y*
25.59%
10Y*
31.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Nasdaq-100 Ex-Technology Sector Index Fund

VanEck Semiconductor ETF

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Often compared with SMH:
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QQXT vs. SMH - Expense Ratio Comparison

QQXT has a 0.60% expense ratio, which is higher than SMH's 0.35% expense ratio.

QQXT
First Trust Nasdaq-100 Ex-Technology Sector Index Fund
SMH
VanEck Semiconductor ETF

Return for Risk

QQXT vs. SMH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQXT
QQXT Risk / Return Rank: 2323
Overall Rank
QQXT Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
QQXT Sortino Ratio Rank: 2222
Sortino Ratio Rank
QQXT Omega Ratio Rank: 2222
Omega Ratio Rank
QQXT Calmar Ratio Rank: 2424
Calmar Ratio Rank
QQXT Martin Ratio Rank: 2626
Martin Ratio Rank
SMH
SMH Risk / Return Rank: 9595
Overall Rank
SMH Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
SMH Sortino Ratio Rank: 9494
Sortino Ratio Rank
SMH Omega Ratio Rank: 9393
Omega Ratio Rank
SMH Calmar Ratio Rank: 9797
Calmar Ratio Rank
SMH Martin Ratio Rank: 9797
Martin Ratio Rank
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.

QQXT vs. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) and VanEck Semiconductor ETF (SMH). 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.

QQXTSMHDifference

Sharpe ratio

Return per unit of total volatility

0.33

2.23

-1.90

Sortino ratio

Return per unit of downside risk

0.61

2.85

-2.24

Omega ratio

Gain probability vs. loss probability

1.08

1.40

-0.32

Calmar ratio

Return relative to maximum drawdown

0.52

5.10

-4.57

Martin ratio

Return relative to average drawdown

2.07

18.29

-16.23

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQXT vs. SMH - Sharpe Ratio Comparison

The current QQXT Sharpe Ratio is 0.33, which is lower than the SMH Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of QQXT and SMH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

QQXTSMHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.33

2.23

-1.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.29

0.74

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.58

0.97

-0.40

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.28

+0.18

Correlation

The correlation between QQXT and SMH is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QQXT vs. SMH - Dividend Comparison

QQXT's dividend yield for the trailing twelve months is around 1.23%, more than SMH's 0.29% yield.

TTM20252024202320222021202020192018201720162015
QQXT
First Trust Nasdaq-100 Ex-Technology Sector Index Fund		1.23%1.20%0.98%1.10%0.92%0.35%0.28%0.35%0.38%0.32%0.31%0.40%
SMH
VanEck Semiconductor ETF		0.29%0.31%0.44%0.60%1.18%0.51%0.69%1.50%1.88%1.43%0.80%2.14%

Drawdowns

QQXT vs. SMH - Drawdown Comparison

The maximum QQXT drawdown since its inception was -57.45%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for QQXT and SMH.

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Drawdown Indicators

QQXTSMHDifference

Max Drawdown

Largest peak-to-trough decline

-57.45%

-84.96%

+27.51%

Max Drawdown (1Y)

Largest decline over 1 year

-11.09%

-15.95%

+4.86%

Max Drawdown (5Y)

Largest decline over 5 years

-24.74%

-45.30%

+20.56%

Max Drawdown (10Y)

Largest decline over 10 years

-30.40%

-45.30%

+14.90%

Current Drawdown

Current decline from peak

-5.96%

-10.03%

+4.07%

Average Drawdown

Average peak-to-trough decline

-8.14%

-41.36%

+33.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.81%

4.44%

-1.63%

Volatility

QQXT vs. SMH - Volatility Comparison

The current volatility for First Trust Nasdaq-100 Ex-Technology Sector Index Fund (QQXT) is 4.31%, while VanEck Semiconductor ETF (SMH) has a volatility of 12.11%. This indicates that QQXT experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

QQXTSMHDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.31%

12.11%

-7.80%

Volatility (6M)

Calculated over the trailing 6-month period

8.06%

23.95%

-15.89%

Volatility (1Y)

Calculated over the trailing 1-year period

16.07%

36.84%

-20.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.32%

34.71%

-18.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.60%

32.28%

-14.68%