SHE vs. FTCS

Last updated Aug 2, 2026

SHE (SPDR SSGA Gender Diversity Index ETF) and FTCS (First Trust Capital Strength ETF) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while FTCS is a Large Cap Blend Equities fund tracking the The Capital Strength Index. Both are passively managed. Over the past 10 years, SHE returned 12.27%/yr vs 10.69%/yr for FTCS. Their 0.78 correlation means they have sometimes moved together and sometimes differently. SHE charges 0.20%/yr vs 0.53%/yr for FTCS.

Performance

SHE vs. FTCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Gender Diversity Index ETF (SHE) and First Trust Capital Strength ETF (FTCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHE achieves a 17.65% return, which is significantly higher than FTCS's 7.43% return. Over the past 10 years, SHE has outperformed FTCS with an annualized return of 12.27%, while FTCS has yielded a comparatively lower 10.69% annualized return.

SHE

• 1D: 0.37%
• 1M: 0.64%
• 6M: 14.53%
• YTD: 17.65%
• 1Y: 27.23%
• 3Y*: 20.92%
• 5Y*: 9.79%
• 10Y*: 12.27%
• ALL TIME*: 12.72%

FTCS

• 1D: -0.51%
• 1M: 1.68%
• 6M: 2.72%
• YTD: 7.43%
• 1Y: 10.38%
• 3Y*: 10.35%
• 5Y*: 6.18%
• 10Y*: 10.69%
• ALL TIME*: 9.89%

*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)
FTCS First Trust Capital Strength ETF	$55.85M	$52.96M	$62.83M
SHE SPDR SSGA Gender Diversity Index ETF	$460.23K	$379.38K	$467.51K

SHE vs. FTCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHE SPDR SSGA Gender Diversity Index ETF	17.65%	15.50%	23.35%	22.37%	-21.73%	15.17%	17.93%	23.63%	-3.48%	19.56%
FTCS First Trust Capital Strength ETF	7.43%	6.46%	11.19%	8.48%	-10.22%	26.75%	13.05%	26.71%	-4.22%	26.57%

Correlation

The correlation between SHE and FTCS is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.72
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Mar 8, 2016	0.78

Over the past year, the correlation between SHE and FTCS has dropped to 0.37 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

SHE vs. FTCS - Sectors Allocation Comparison

Sectors	SHE	FTCS
Technology	37.3%	13.0%
Financial Services	11.7%	20.5%
Consumer Cyclical	10.2%	7.8%
Industrials	9.2%	19.5%
Healthcare	9.2%	18.7%
Communication Services	9.1%	2.1%
Consumer Defensive	4.5%	14.3%
Energy	3.0%	2.0%
Utilities	2.2%	-
Real Estate	1.8%	-
Basic Materials	1.8%	2.1%

Return for Risk

SHE vs. FTCS — Risk / Return Rank

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

SHE

SHE Risk / Return Rank: 81
SHE Sharpe Ratio Rank: 82
SHE Sortino Ratio Rank: 82
SHE Omega Ratio Rank: 79
SHE Calmar Ratio Rank: 82
SHE Martin Ratio Rank: 83

FTCS

FTCS Risk / Return Rank: 37
FTCS Sharpe Ratio Rank: 39
FTCS Sortino Ratio Rank: 41
FTCS Omega Ratio Rank: 35
FTCS Calmar Ratio Rank: 38
FTCS Martin Ratio Rank: 31

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.

SHE vs. FTCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) and First Trust Capital Strength ETF (FTCS). 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.

	SHE	FTCS	Difference
Sharpe ratio: Return per unit of total volatility	1.90	0.96	+0.94
Sortino ratio: Return per unit of downside risk	2.67	1.52	+1.15
Omega ratio: Gain probability vs. loss probability	1.33	1.17	+0.16
Calmar ratio: Return relative to maximum drawdown	3.03	1.30	+1.73
Martin ratio: Return relative to average drawdown	11.21	2.89	+8.31

SHE vs. FTCS - Sharpe Ratio Comparison

The current SHE Sharpe Ratio is 1.90, which is higher than the FTCS Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of SHE and FTCS, 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

SHE vs. FTCS - Drawdown Comparison

The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum FTCS drawdown of -53.64%. Use the drawdown chart below to compare losses from any high point for SHE and FTCS.

Drawdown Indicators

	SHE	FTCS	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-53.64%	+17.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-7.74%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-17.07%	-12.62%	-4.45%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-20.93%	-10.76%
Max Drawdown (10Y) Largest decline over 10 years	-35.80%	-31.93%	-3.87%
Current Drawdown Current decline from peak	-2.17%	-1.64%	-0.53%
Average Drawdown Average peak-to-trough decline	-6.25%	-6.90%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	3.48%	-1.17%

Volatility

SHE vs. FTCS - Volatility Comparison

The current volatility for SPDR SSGA Gender Diversity Index ETF (SHE) is 3.55%, while First Trust Capital Strength ETF (FTCS) has a volatility of 4.61%. This indicates that SHE experiences smaller price fluctuations and is considered to be less risky than FTCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHE	FTCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	4.61%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	8.17%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	10.54%	+3.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.30%	13.25%	+4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	15.55%	+2.47%

SHE vs. FTCS - Expense Ratio Comparison

SHE has a 0.20% expense ratio, which is lower than FTCS's 0.53% expense ratio.

Dividends

SHE vs. FTCS - Dividend Comparison

SHE's dividend yield for the trailing twelve months is around 1.08%, which matches FTCS's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTCS First Trust Capital Strength ETF	1.08%	1.04%	1.33%	1.47%	1.23%	1.06%	0.93%	1.26%	1.26%	1.15%	1.43%	1.50%
SHE SPDR SSGA Gender Diversity Index ETF	1.08%	1.18%	1.14%	1.37%	1.54%	0.99%	1.24%	1.91%	7.39%	5.37%	6.41%	0.00%

Frequently Asked Questions

Can I hold both SHE and FTCS in my portfolio?

SHE and FTCS have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHE or FTCS?

FTCS has higher volatility (4.61%) compared to SHE (3.55%). In terms of maximum drawdown, SHE dropped -35.80% vs FTCS's -53.64%.

Which ETF is better, SHE or FTCS?

On 10-year performance, SHE leads with 12.27% vs 10.69% for FTCS. On fees, SHE is cheaper at 0.20% per year. On volatility, SHE has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHE or FTCS?

Over the 10-year period, SHE has performed better with a 12.27% return vs 10.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHE or FTCS?

SHE is cheaper with a 0.20% expense ratio, compared with 0.53% for FTCS.

Which ETF pays a higher dividend yield, SHE or FTCS?

SHE and FTCS have nearly identical dividend yields, around 1.08%.

What is the main difference between SHE and FTCS?

SHE is categorized as Large Cap Growth Equities, while FTCS is Large Cap Blend Equities. SHE tracks SSGA Gender Diversity (TR), while FTCS tracks The Capital Strength Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.20% for SHE and 0.53% for FTCS.

Which has better risk-adjusted returns?

SHE currently has the higher Sharpe Ratio (1.90 vs 0.96), 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.