SBIO vs. FBT

Last updated Jun 24, 2026

SBIO (ALPS Medical Breakthroughs ETF) and FBT (First Trust Amex Biotechnology Index) are both Health & Biotech Equities funds - SBIO tracks the S-Network Medical Breakthroughs Index while FBT tracks the NYSE Arca Biotechnology Index. Both are passively managed. Over the past 10 years, SBIO returned 11.23%/yr vs 10.49%/yr for FBT. Their correlation of 0.84 suggests significant overlap in exposure. SBIO charges 0.50%/yr vs 0.57%/yr for FBT.

Performance

SBIO vs. FBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Medical Breakthroughs ETF (SBIO) and First Trust Amex Biotechnology Index (FBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIO achieves a 15.46% return, which is significantly higher than FBT's 11.66% return. Over the past 10 years, SBIO has outperformed FBT with an annualized return of 11.23%, while FBT has yielded a comparatively lower 10.49% annualized return.

SBIO

• 1D: 0.82%
• 1M: 10.96%
• YTD: 15.46%
• 6M: 14.04%
• 1Y: 97.46%
• 3Y*: 24.04%
• 5Y*: 4.26%
• 10Y*: 11.23%

FBT

• 1D: 0.35%
• 1M: 8.29%
• YTD: 11.66%
• 6M: 7.46%
• 1Y: 45.08%
• 3Y*: 13.91%
• 5Y*: 6.27%
• 10Y*: 10.49%

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

SBIO vs. FBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBIO ALPS Medical Breakthroughs ETF	15.46%	55.07%	3.81%	8.68%	-28.08%	-17.55%	21.17%	50.30%	-11.81%	45.67%
FBT First Trust Amex Biotechnology Index	11.66%	24.25%	5.88%	2.55%	-4.83%	-2.26%	12.96%	19.74%	-0.30%	37.07%

Correlation

The correlation between SBIO and FBT is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 31, 2014	0.84

The correlation between SBIO and FBT shifts across timeframes, from 0.70 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

SBIO vs. FBT - Sectors Allocation Comparison

Sectors	SBIO	FBT
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-
Financial Services	-0.0%	-

Return for Risk

SBIO vs. FBT — Risk / Return Rank

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

SBIO

SBIO Risk / Return Rank: 92
SBIO Sharpe Ratio Rank: 93
SBIO Sortino Ratio Rank: 92
SBIO Omega Ratio Rank: 85
SBIO Calmar Ratio Rank: 95
SBIO Martin Ratio Rank: 92

FBT

FBT Risk / Return Rank: 67
FBT Sharpe Ratio Rank: 71
FBT Sortino Ratio Rank: 73
FBT Omega Ratio Rank: 66
FBT Calmar Ratio Rank: 67
FBT Martin Ratio Rank: 57

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.

SBIO vs. FBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS Medical Breakthroughs ETF (SBIO) and First Trust Amex Biotechnology Index (FBT). 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.

	SBIO	FBT	Difference
Sharpe ratio: Return per unit of total volatility	3.22	2.16	+1.07
Sortino ratio: Return per unit of downside risk	4.09	3.07	+1.01
Omega ratio: Gain probability vs. loss probability	1.48	1.37	+0.11
Calmar ratio: Return relative to maximum drawdown	7.74	3.18	+4.57
Martin ratio: Return relative to average drawdown	21.59	9.39	+12.20

SBIO vs. FBT - Sharpe Ratio Comparison

The current SBIO Sharpe Ratio is 3.22, which is higher than the FBT Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of SBIO and FBT, 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

SBIO vs. FBT - Drawdown Comparison

The maximum SBIO drawdown since its inception was -63.06%, which is greater than FBT's maximum drawdown of -40.51%. Use the drawdown chart below to compare losses from any high point for SBIO and FBT.

Drawdown Indicators

	SBIO	FBT	Difference
Max Drawdown Largest peak-to-trough decline	-63.06%	-40.51%	-22.55%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-14.26%	+1.60%
Max Drawdown (3Y) Largest decline over 3 years	-42.44%	-20.05%	-22.39%
Max Drawdown (5Y) Largest decline over 5 years	-53.10%	-28.98%	-24.12%
Max Drawdown (10Y) Largest decline over 10 years	-63.06%	-32.37%	-30.69%
Current Drawdown Current decline from peak	-3.55%	0.00%	-3.55%
Average Drawdown Average peak-to-trough decline	-28.37%	-11.14%	-17.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	4.81%	-0.28%

Volatility

SBIO vs. FBT - Volatility Comparison

ALPS Medical Breakthroughs ETF (SBIO) has a higher volatility of 11.06% compared to First Trust Amex Biotechnology Index (FBT) at 6.54%. This indicates that SBIO's price experiences larger fluctuations and is considered to be riskier than FBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIO	FBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.06%	6.54%	+4.52%
Volatility (6M) Calculated over the trailing 6-month period	23.78%	16.15%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	30.40%	21.02%	+9.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.75%	21.88%	+11.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.19%	23.83%	+9.36%

SBIO vs. FBT - Expense Ratio Comparison

SBIO has a 0.50% expense ratio, which is lower than FBT's 0.57% expense ratio.

Dividends

SBIO vs. FBT - Dividend Comparison

Neither SBIO nor FBT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBT First Trust Amex Biotechnology Index	0.00%	0.00%	0.71%	0.00%	0.00%	1.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.12%
SBIO ALPS Medical Breakthroughs ETF	0.00%	0.00%	3.55%	0.22%	0.00%	0.00%	0.00%	0.04%	2.79%	1.77%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SBIO and FBT in my portfolio?

SBIO and FBT have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SBIO or FBT?

SBIO has higher volatility (11.06%) compared to FBT (6.54%). In terms of maximum drawdown, SBIO dropped -63.06% vs FBT's -40.51%.

Which ETF is better, SBIO or FBT?

On 10-year performance, SBIO leads with 11.23% vs 10.49% for FBT. On fees, SBIO is cheaper at 0.50% per year. On volatility, FBT has been the lower-risk option at 6.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIO or FBT?

Over the 10-year period, SBIO has performed better with a 11.23% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIO or FBT?

SBIO is cheaper with a 0.50% expense ratio, compared with 0.57% for FBT.

Which ETF pays a higher dividend yield, SBIO or FBT?

SBIO and FBT have nearly identical dividend yields, around 0.00%.

What is the main difference between SBIO and FBT?

SBIO tracks S-Network Medical Breakthroughs Index, while FBT tracks NYSE Arca Biotechnology Index. They also come from different issuers: SS&C and First Trust. Their fees differ too: 0.50% for SBIO and 0.57% for FBT.

Which has better risk-adjusted returns?

SBIO currently has the higher Sharpe Ratio (3.22 vs 2.16), 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.