XSD vs. FTXL

Last updated Jun 23, 2026

XSD (SPDR S&P Semiconductor ETF) and FTXL (First Trust Nasdaq Semiconductor ETF) are both Semiconductors funds - XSD tracks the S&P Semiconductor Select Industry Index while FTXL tracks the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, XSD returned 29.17%/yr vs 36.03%/yr for FTXL. Their correlation of 0.93 suggests significant overlap in exposure. XSD charges 0.35%/yr vs 0.60%/yr for FTXL.

Performance

XSD vs. FTXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) and First Trust Nasdaq Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XSD achieves a 101.75% return, which is significantly lower than FTXL's 129.34% return.

XSD

• 1D: 1.91%
• 1M: 7.37%
• YTD: 101.75%
• 6M: 95.13%
• 1Y: 166.27%
• 3Y*: 46.54%
• 5Y*: 29.17%
• 10Y*: 31.63%

FTXL

• 1D: 2.71%
• 1M: 19.81%
• YTD: 129.34%
• 6M: 127.30%
• 1Y: 226.33%
• 3Y*: 64.47%
• 5Y*: 36.03%
• 10Y*: —

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

XSD vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XSD SPDR S&P Semiconductor ETF	101.75%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-6.35%	25.21%
FTXL First Trust Nasdaq Semiconductor ETF	129.34%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between XSD and FTXL is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.93

The correlation between XSD and FTXL has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

XSD vs. FTXL - Sectors Allocation Comparison

Sectors	XSD	FTXL
Technology	98.0%	99.7%
Energy	2.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	0.3%
Real Estate	-	-
Utilities	-	-

Return for Risk

XSD vs. FTXL — Risk / Return Rank

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

XSD

XSD Risk / Return Rank: 94
XSD Sharpe Ratio Rank: 97
XSD Sortino Ratio Rank: 92
XSD Omega Ratio Rank: 91
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 95

FTXL

FTXL Risk / Return Rank: 97
FTXL Sharpe Ratio Rank: 98
FTXL Sortino Ratio Rank: 95
FTXL Omega Ratio Rank: 95
FTXL Calmar Ratio Rank: 98
FTXL Martin Ratio Rank: 98

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.

XSD vs. FTXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) 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.

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.

	XSD	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	4.17	5.69	-1.52
Sortino ratio: Return per unit of downside risk	4.18	5.06	-0.88
Omega ratio: Gain probability vs. loss probability	1.57	1.71	-0.14
Calmar ratio: Return relative to maximum drawdown	8.99	15.70	-6.71
Martin ratio: Return relative to average drawdown	29.69	54.75	-25.06

XSD vs. FTXL - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 4.17, which is comparable to the FTXL Sharpe Ratio of 5.69. The chart below compares the historical Sharpe Ratios of XSD and FTXL, 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

XSD vs. FTXL - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for XSD and FTXL.

Drawdown Indicators

	XSD	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-43.87%	-20.69%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-14.51%	-4.10%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-41.57%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-43.87%	+1.60%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	—	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-13.72%	-10.53%	-3.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	4.15%	+1.47%

Volatility

XSD vs. FTXL - Volatility Comparison

SPDR S&P Semiconductor ETF (XSD) and First Trust Nasdaq Semiconductor ETF (FTXL) have volatilities of 21.48% and 20.69%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSD	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.48%	20.69%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	32.65%	33.51%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	40.16%	40.09%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.08%	36.93%	+2.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.42%	34.67%	+0.75%

XSD vs. FTXL - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is lower than FTXL's 0.60% expense ratio.

Dividends

XSD vs. FTXL - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.16%, more than FTXL's 0.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
XSD SPDR S&P Semiconductor ETF	0.16%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both XSD and FTXL in my portfolio?

With a correlation of 0.91, XSD and FTXL move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, XSD or FTXL?

XSD has higher volatility (21.48%) compared to FTXL (20.69%). In terms of maximum drawdown, XSD dropped -64.56% vs FTXL's -43.87%.

Which ETF is better, XSD or FTXL?

On 5-year performance, FTXL leads with 36.03% vs 29.17% for XSD. On fees, XSD is cheaper at 0.35% per year. On volatility, FTXL has been the lower-risk option at 20.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or FTXL?

Over the 5-year period, FTXL has performed better with a 36.03% return vs 29.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or FTXL?

XSD is cheaper with a 0.35% expense ratio, compared with 0.60% for FTXL.

Which ETF pays a higher dividend yield, XSD or FTXL?

XSD has the higher dividend yield at 0.16%, compared with 0.12% for FTXL.

What is the main difference between XSD and FTXL?

XSD tracks S&P Semiconductor Select Industry Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.35% for XSD and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (5.69 vs 4.17), 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.