TSEP vs. FTXL
TSEP (FT Vest Emerging Markets Buffer ETF - September) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - TSEP is a Defined Outcome fund actively managed by First Trust, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. TSEP is actively managed, while FTXL is passively managed. Over the past year, TSEP returned 23.98% vs 225.15% for FTXL. A 0.62 correlation means they provide meaningful diversification when combined. TSEP charges 0.95%/yr vs 0.60%/yr for FTXL.
Performance
TSEP vs. FTXL - Performance Comparison
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Returns By Period
In the year-to-date period, TSEP achieves a 9.07% return, which is significantly lower than FTXL's 115.70% return.
TSEP
- 1D
- -0.16%
- 1M
- 1.50%
- YTD
- 9.07%
- 6M
- 10.71%
- 1Y
- 23.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FTXL
- 1D
- 2.21%
- 1M
- 30.59%
- YTD
- 115.70%
- 6M
- 113.17%
- 1Y
- 225.15%
- 3Y*
- 61.52%
- 5Y*
- 34.63%
- 10Y*
- —
TSEP vs. FTXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TSEP FT Vest Emerging Markets Buffer ETF - September | 9.07% | 20.91% | -1.87% |
FTXL First Trust Nasdaq Semiconductor ETF | 115.70% | 48.94% | -3.79% |
Correlation
The correlation between TSEP and FTXL is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024 | 0.62 |
The correlation between TSEP and FTXL has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
TSEP vs. FTXL — Risk / Return Rank
TSEP
FTXL
TSEP vs. FTXL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - September (TSEP) 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.
| TSEP | FTXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.78 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.32 | 15.62 | -12.30 |
| Martin ratioReturn relative to average drawdown | 13.65 | 58.28 | -44.64 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSEP | FTXL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.37 | 6.33 | -3.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.46 | 0.94 | +0.52 |
Drawdowns
TSEP vs. FTXL - Drawdown Comparison
The maximum TSEP drawdown since its inception was -9.83%, smaller than the maximum FTXL drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for TSEP and FTXL.
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Drawdown Indicators
| TSEP | FTXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.83% | -43.87% | +34.04% |
Max Drawdown (1Y)Largest decline over 1 year | -7.25% | -14.51% | +7.26% |
Max Drawdown (3Y)Largest decline over 3 years | — | -41.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.87% | — |
Current DrawdownCurrent decline from peak | -0.16% | 0.00% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -1.69% | -10.56% | +8.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 3.88% | -2.12% |
Volatility
TSEP vs. FTXL - Volatility Comparison
The current volatility for FT Vest Emerging Markets Buffer ETF - September (TSEP) is 2.09%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 14.28%. This indicates that TSEP 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.
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Volatility by Period
| TSEP | FTXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 14.28% | -12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 28.98% | -21.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.17% | 35.94% | -25.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.37% | 36.02% | -24.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.37% | 34.25% | -22.88% |
TSEP vs. FTXL - Expense Ratio Comparison
TSEP has a 0.95% expense ratio, which is higher than FTXL's 0.60% expense ratio.
Dividends
TSEP vs. FTXL - Dividend Comparison
TSEP has not paid dividends to shareholders, while FTXL's dividend yield for the trailing twelve months is around 0.12%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TSEP FT Vest Emerging Markets Buffer ETF - September | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSEP and FTXL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FTXL has higher volatility (14.28%) compared to TSEP (2.09%). In terms of maximum drawdown, TSEP dropped -9.83% vs FTXL's -43.87%.
On 1-year performance, FTXL leads with 225.15% vs 23.98% for TSEP. On fees, FTXL is cheaper at 0.60% per year. On volatility, TSEP has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FTXL has performed better with a 225.15% return vs 23.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTXL is cheaper with a 0.60% expense ratio, compared with 0.95% for TSEP.
FTXL has the higher dividend yield at 0.12%, compared with 0.00% for TSEP.
TSEP is categorized as Defined Outcome, while FTXL is Semiconductors. Their fees differ too: 0.95% for TSEP and 0.60% for FTXL.
FTXL currently has the higher Sharpe Ratio (6.33 vs 2.37), 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.
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