TEXN vs. FTCE

Last updated Aug 4, 2026

TEXN (iShares Texas Equity ETF) and FTCE (First Trust New Constructs Core Earnings Leaders ETF) are both Large Cap Blend Equities funds - TEXN tracks the Russell Texas Equity Index while FTCE tracks the Bloomberg New Constructs Core Earnings Leaders Index. Both are passively managed. Over the past year, TEXN returned 28.23% vs 24.40% for FTCE. Their 0.54 correlation means they have sometimes moved together and sometimes differently. TEXN charges 0.20%/yr vs 0.60%/yr for FTCE.

Performance

TEXN vs. FTCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Texas Equity ETF (TEXN) and First Trust New Constructs Core Earnings Leaders ETF (FTCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEXN achieves a 19.32% return, which is significantly higher than FTCE's 9.47% return.

TEXN

• 1D: 1.07%
• 1M: 1.08%
• 6M: 12.08%
• YTD: 19.32%
• 1Y: 28.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.05%

FTCE

• 1D: 0.16%
• 1M: -0.33%
• 6M: 6.88%
• YTD: 9.47%
• 1Y: 24.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.25%

*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)
FTCE First Trust New Constructs Core Earnings Leaders ETF	$145.13K	$168.42K	$261.53K
TEXN iShares Texas Equity ETF	$55.30K	$58.46K	$79.49K

TEXN vs. FTCE - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	19.32%	8.33%
FTCE First Trust New Constructs Core Earnings Leaders ETF	9.47%	16.77%

Correlation

The correlation between TEXN and FTCE is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025	0.54

The correlation between TEXN and FTCE has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

TEXN vs. FTCE - Sectors Allocation Comparison

Sectors	TEXN	FTCE
Energy	36.3%	3.4%
Industrials	16.4%	8.9%
Technology	16.2%	36.3%
Consumer Cyclical	9.9%	12.2%
Financial Services	4.4%	11.6%
Real Estate	4.1%	2.0%
Communication Services	3.4%	7.4%
Healthcare	3.2%	9.8%
Utilities	2.8%	2.2%
Consumer Defensive	2.2%	4.3%
Basic Materials	0.9%	1.9%

Return for Risk

TEXN vs. FTCE — Risk / Return Rank

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

TEXN

TEXN Risk / Return Rank: 79
TEXN Sharpe Ratio Rank: 78
TEXN Sortino Ratio Rank: 79
TEXN Omega Ratio Rank: 76
TEXN Calmar Ratio Rank: 82
TEXN Martin Ratio Rank: 79

FTCE

FTCE Risk / Return Rank: 65
FTCE Sharpe Ratio Rank: 70
FTCE Sortino Ratio Rank: 69
FTCE Omega Ratio Rank: 68
FTCE Calmar Ratio Rank: 62
FTCE Martin Ratio Rank: 57

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.

TEXN vs. FTCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) and First Trust New Constructs Core Earnings Leaders ETF (FTCE). 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.

	TEXN	FTCE	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.78	+0.14
Sortino ratio: Return per unit of downside risk	2.73	2.48	+0.25
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	3.22	2.41	+0.80
Martin ratio: Return relative to average drawdown	10.99	7.53	+3.46

TEXN vs. FTCE - Sharpe Ratio Comparison

The current TEXN Sharpe Ratio is 1.92, which is comparable to the FTCE Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of TEXN and FTCE, 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

TEXN vs. FTCE - Drawdown Comparison

The maximum TEXN drawdown since its inception was -8.81%, smaller than the maximum FTCE drawdown of -18.11%. Use the drawdown chart below to compare losses from any high point for TEXN and FTCE.

Drawdown Indicators

	TEXN	FTCE	Difference
Max Drawdown Largest peak-to-trough decline	-8.81%	-18.11%	+9.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-10.16%	+1.35%
Current Drawdown Current decline from peak	-5.48%	-4.56%	-0.92%
Average Drawdown Average peak-to-trough decline	-1.68%	-2.69%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	3.25%	-0.68%

Volatility

TEXN vs. FTCE - Volatility Comparison

iShares Texas Equity ETF (TEXN) has a higher volatility of 4.24% compared to First Trust New Constructs Core Earnings Leaders ETF (FTCE) at 3.32%. This indicates that TEXN's price experiences larger fluctuations and is considered to be riskier than FTCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEXN	FTCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	3.32%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	10.49%	11.07%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	14.78%	13.77%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.58%	16.57%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.58%	16.57%	-1.99%

TEXN vs. FTCE - Expense Ratio Comparison

TEXN has a 0.20% expense ratio, which is lower than FTCE's 0.60% expense ratio.

Dividends

TEXN vs. FTCE - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.41%, more than FTCE's 0.66% yield.

Position	TTM	2025	2024
FTCE First Trust New Constructs Core Earnings Leaders ETF	0.66%	0.96%	0.28%
TEXN iShares Texas Equity ETF	1.41%	0.86%	0.00%

Frequently Asked Questions

Can I hold both TEXN and FTCE in my portfolio?

TEXN and FTCE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEXN or FTCE?

TEXN has higher volatility (4.24%) compared to FTCE (3.32%). In terms of maximum drawdown, TEXN dropped -8.81% vs FTCE's -18.11%.

Which ETF is better, TEXN or FTCE?

On 1-year performance, TEXN leads with 28.23% vs 24.40% for FTCE. On fees, TEXN is cheaper at 0.20% per year. On volatility, FTCE has been the lower-risk option at 3.32%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEXN or FTCE?

Over the 1-year period, TEXN has performed better with a 28.23% return vs 24.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEXN or FTCE?

TEXN is cheaper with a 0.20% expense ratio, compared with 0.60% for FTCE.

Which ETF pays a higher dividend yield, TEXN or FTCE?

TEXN has the higher dividend yield at 1.41%, compared with 0.66% for FTCE.

What is the main difference between TEXN and FTCE?

TEXN tracks Russell Texas Equity Index, while FTCE tracks Bloomberg New Constructs Core Earnings Leaders Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.20% for TEXN and 0.60% for FTCE.

Which has better risk-adjusted returns?

TEXN currently has the higher Sharpe Ratio (1.92 vs 1.78), 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.