At a glance
FTXL charges 0.6% a year, above the 0.31% average of the 8 funds most like it (the most expensive of 9). It has $2.75B in assets, the 7th largest of that group; it paid 0.07% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +81.9% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds; over three years it returned +54.2% a year. At its worst it fell 34.8% in the 2020 crash (S&P 500: 33.7%) and 43.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 15 months after the lows. Its ten largest positions make up 67.3% of the fund, out of 34 in all.
The short version
First Trust Nasdaq Semiconductor ETF (FTXL) is an index fund that holds 30 to 50 U.S. chip and chip-equipment stocks chosen by the Nasdaq US Smart Semiconductor Index. It doesn't weight companies by size. It ranks them on profitability and momentum and weights them by cash flow, so as of June 30, 2026, Intel made up 13.3% and Nvidia only 4.8%. Its 0.60% expense ratio is the highest of nine similar funds compared.
Price history
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FTXL +81.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FTXL official prospectus, to Dec 31, 2025 | — | +48.60% | — | +17.25% | — | +23.09% |
| FTXL price data to Oct 27, 2026 | +76.6% | +81.9% | +54.2% | +28.3% | +28.3% | +27.9% |
- Over the year to Oct 27, 2026, FTXL returned +81.9%, 1st of 9 among similar funds.
- Its 5-year annualized return was +28.3% and its 10-year +28.3%.
- In the 2020 COVID crash it fell 34.8% and regained its old high 2.6 months after the low.
- Its worst full calendar year was 2022 (-33.9%); its best was 2019 (+61.8%).
- The deepest fall in its price history was 43.9% (Jan 3, 2022 to Oct 14, 2022), recovered by Dec 26, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +76.6% | — |
| 2025 | +49.0% | +48.60% |
| 2024 | +7.6% | +7.66% |
| 2023 | +54.4% | +54.27% |
| 2022 | -33.9% | -33.52% |
| 2021 | +36.0% | +35.07% |
| 2020 | +46.1% | +46.25% |
| 2019 | +61.8% | +61.34% |
| 2018 | -14.5% | -13.50% |
| 2017 | +32.2% | +31.86% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 33.3% over that stretch · deepest drop along the way 34.8%, back to its old high 2.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 43.1% over that stretch · deepest drop along the way 43.1%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0500 | |
| 2025 | $0.3700 | -21.3% |
| 2024 | $0.4700 | -4.1% |
| 2023 | $0.4900 | +4.3% |
| 2022 | $0.4700 | +123.8% |
| 2021 | $0.2100 | -27.6% |
| 2020 | $0.2900 | -23.7% |
| 2019 | $0.3800 | +111.1% |
| 2018 | $0.1800 | +27.7% |
| 2017 | $0.1410 |
What's inside
As of Jun 30, 2026, the fund held 34 securities; the ten largest made up 67.27% of assets.
| Holding | Weight | |
|---|---|---|
| INTEL CORP | 13.28% | |
| MICRON TECHNOLOGY INC | 12.14% | |
| MARVELL TECHNOLOGY INC | 7.91% | |
| ADVANCED MICRO DEVICES INC | 6.29% | |
| QUALCOMM INC | 5.63% | |
| NVIDIA CORP | 4.79% | |
| BROADCOM INC | 4.72% | |
| KLA CORP | 4.29% | |
| APPLIED MATERIALS INC | 4.21% | |
| LAM RESEARCH CORP | 4.02% | |
| AMKOR TECHNOLOGY INC | 3.35% | |
| ON SEMICONDUCTOR CORP | 3.08% | |
| TEXAS INSTRUMENTS INC | 3.05% | |
| NXP SEMICONDUCTORS NV | 2.68% | |
| ANALOG DEVICES INC | 2.42% |
By country
United States 96.06%Netherlands 2.68%Cayman Islands 0.67%By asset type
Stocks 99.41%By sector
Sectors of the companies held, for the 75.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $114.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +44.42%, +21.61%, +9.95%.
How it works
FTXL tries to match the Nasdaq US Smart Semiconductor Index, before fees. Nasdaq owns and maintains the index. The fund must keep at least 80% of its net assets in the index's stocks. The starting pool is the Nasdaq US Benchmark Index, narrowed to companies classified as chip makers and distributors or makers of chip-production equipment. To be eligible, a stock must pass tests for size, liquidity and float (the shares freely available to trade).
Nasdaq then scores each remaining stock on four factors: gross income, return on assets, momentum (recent price strength) and cash flow. Cash flow carries little weight and mainly breaks ties. The top-ranked 30 to 50 stocks make the cut, and 34 did as of June 30, 2026. Weights are based on cash flow, not market value. No stock is given more than 8%, only five can get that maximum, all others are capped at 4%, and none can be below 0.50%.
The index is rebalanced and reconstituted twice a year, and the fund updates its holdings shortly after each change is announced. Between those dates, weights drift with prices. As of June 30, 2026, Intel was 13.3% of the fund and Micron 12.1%, well above the caps, and the top 10 holdings made up 67.3%. The prospectus reports portfolio turnover of 43%, and the fund held no derivatives as of June 30, 2026.
What it really costs
- FTXL charges 0.6% a year, versus an average of 0.31% for the similar funds below (9th of 9, cheapest first).
In a retirement portfolio
FTXL owns a single industry with about 34 stocks and has swung far more than the broad market, so it fits better as a small add-on than as a foundation.
FTXL could add focused exposure to the chip industry, but it has had steep drops along the way. It launched in September 2016, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 34.8% in less than a month and was back to its prior high by June 4, 2020. Its deepest drop was 43.9%, from January 3 to October 14, 2022, and it didn't recover until December 26, 2023. Its worst calendar year was 2022, at -33.52%. Anyone who had to withdraw money during a year like that would have locked in large losses.
FTXL pays very little income. Its trailing yield was 0.07% as of October 27, 2026, paid twice a year. The 0.60% expense ratio compares with a 0.31% average for similar funds. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting a chip-industry fund that weights by cash flow, not size: as of June 30, 2026, Intel was 13.3% and Nvidia 4.8%.
- Long-horizon investors who can sit through drops like its 43.9% fall in 2022, which took until December 2023 to recover.
- Growth-focused investors who don't need income, since the trailing yield was just 0.07% as of October 27, 2026.
Look elsewhere if
- Cost-conscious investors: at 0.60%, FTXL ranked 9th of 9 similar funds on cost, while SOXQ charges 0.19% and CHPS 0.15%.
- Retirees who need steady income, given a 0.07% trailing yield paid only twice a year.
- Anyone who may need the money soon: in the year to October 27, 2026, FTXL moved about 2.7 times as much as the market.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FTXL this fund | — | 0.6% | $2.75B | +81.9% | +54.2% |
| SOXX iShares Semiconductor ETF | 70% | 0.35% | $47.82B | +48.5% | +44.1% |
| SOXQ Invesco PHLX Semiconductor ETF | 64% | 0.19% | $3.00B | +60.9% | +53.6% |
| SMH VanEck Semiconductor ETF | 59% | 0.35% | $77.20B | +40.5% | +52.2% |
| CHPS Xtrackers Semiconductor Select Equity ETF | 56% | 0.15% | $107.1M | +75.7% | +55.7% |
| PSI Invesco Semiconductors ETF | 45% | 0.56% | $2.38B | +65.1% | +49.1% |
| XLK Technology Select Sector SPDR Fund | 40% | 0.08% | $123.91B | +20.1% | +4.0% |
| IGM iShares Expanded Tech Sector ETF | 35% | 0.41% | $10.71B | +21.3% | +38.6% |
Questions investors ask
Is FTXL good for retirement?
FTXL is better suited to a small, higher-risk slice of a retirement portfolio than to a core role. As of June 30, 2026, it held 34 chip stocks. It fell 43.9% between January and October 2022 and didn't recover until December 2023. It also pays little income, with a trailing yield of 0.07% as of October 27, 2026, and it charges 0.60% a year. Those traits may suit only investors who can leave the money alone through deep drops.
What's the difference between FTXL and SOXQ?
Both are semiconductor index funds, and about 73% of their holdings overlap. The biggest difference is cost: FTXL charges 0.60% a year and Invesco PHLX Semiconductor ETF (SOXQ) charges 0.19%. FTXL picks stocks by profitability and momentum and weights them by cash flow. As of October 27, 2026, FTXL returned 81.9% over one year versus 60.9% for SOXQ. Over three years, the two were close: 54.2% versus 53.6% a year.
Does FTXL pay dividends?
Yes, but very little. FTXL pays distributions twice a year. Over the 12 months to October 27, 2026, it paid about $0.17 per share, for a trailing yield of 0.07%. That's because the chip companies it owns pay small dividends compared with their share prices. Investors looking for regular income from a fund would likely need to look at other types of holdings.
Why is Intel FTXL's biggest holding instead of Nvidia?
FTXL's index weights stocks by cash flow, not company size, and caps each stock at 8% or 4% at each rebalance. Prices move between the twice-yearly rebalances, so weights can drift well above those caps. As of June 30, 2026, Intel made up 13.3% and Micron 12.1%, while Nvidia was 4.8% and Broadcom 4.7%. As a result, the fund can behave quite differently from funds that weight chip stocks by market value.
How has FTXL performed over the long run?
FTXL has posted strong long-term returns with big swings along the way. According to its prospectus, as of December 31, 2025, it returned 48.6% over one year, 17.25% a year over five years and 23.09% a year since its 2016 launch. Its calendar-year returns ranged from 61.34% in 2019 to -33.52% in 2022, and it also lost 13.5% in 2018. Its worst quarter was a 24.24% drop in the quarter ending June 30, 2022.