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FBT vs XBI

First Trust NYSE Arca Biotechnology Index Fund

FBTBNYSE Arca

State Street SPDR S&P Biotech ETF

XBIANYSE Arca

Overlap

25.2%by weight

Expense ratio

XBI −0.20pt a year

FBT0.55%XBI0.35%

Avg volume · 30D

XBI 125.8×the volume

FBT71KXBI8.93M

10Y return · a year

FBT +1.4pt

FBT+11.0%XBI+9.6%

FBT vs XBI Performance

Nov 9, 2021 – Nov 9, 2026

+72.3%FBT+22.7%XBI

Nov 9, 2021 to Nov 9, 2026. FBT +72.3%. XBI +22.7%. Use the arrow keys to read each point.−50%−25%0%50%Nov 2021May 2024Nov 2026
Expense ratio
FBT 0.55%
XBI 0.35%, better
Fund size
FBT $2.97B
XBI $10.3B
1Y total return
FBT +40.6%
XBI +44.6%, better
Yield (12M)
FBT 0.00%
XBI 0.35%, better
Holdings
FBT 31
XBI 165
Avg volume (30D)
FBT 71K sh
XBI 8.93M sh, better
NAV per share
FBT $266.13
XBI $152.30
52W range

ETF.net Grade

FBT: Cost 25, Risk 73, Mission 85, Tradability 81, Holdings 68, Durability 76. XBI: Cost 81, Risk 42, Mission 85, Tradability 98, Holdings 88, Durability 89.
Pillar letters and Scores for FBT, XBI, with each pillar’s weight
PillarFBTXBI
Cost30% weightD25A81Higher
Mission25% weightA85A85
Risk15% weightA73HigherC42
Tradability15% weightA81A98Higher
Holdings10% weightB68A88Higher
Durability5% weightA76A89Higher

Rank among Biotech & Genomics funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FBT and XBI are both graded against the same 17 Biotech & Genomics funds, so their Grades compare head to head.

Biotech & Genomics⁠

Category · 17 funds
See all 17 ›

XBI ranks 1st and FBT 6th of 17 funds in the Biotech & Genomics Category.

  1. Rank 1AXBIState Street SPDR S&P Biotech ETFScore 79
  2. Rank 2AIBBQInvesco Nasdaq Biotechnology ETFScore 77
  3. Rank 5BBBHVanEck Biotech ETFScore 69
  4. Rank 6BFBTFirst Trust NYSE Arca Biotechnology Index FundScore 62
  5. Rank 7BPBEInvesco Biotechnology & Genome ETFScore 58

Our read on each fund

ETF.net Research

FBTBFirst Trust NYSE Arca Biotechnology Index Fund

XBIAState Street SPDR S&P Biotech ETF

In short

FBT Biotech served in about 30 equal-sized bites. FBT has tracked the NYSE Arca Biotechnology Index since 2006, spreading each dollar evenly across a short roster instead of letting a few large caps run the show.

XBI Biotech's great leveler. Its index weights roughly 160 US biotechs near-equally, so a clinical-stage minnow carries about as much as a megacap. Live since 2006 and one of the most heavily traded funds in the sector.

Stated mandate

FBT The fund seeks to track, before fees and expenses, the performance of the NYSE Arca Biotechnology Index.

XBI The fund seeks to track, before fees and expenses, the total return performance of the S&P Biotechnology Select Industry Index.

Why people hold it

  • FBT Equal weighting hands a small cap the same slot as a mega cap. About 30 names, each sized alike, so no single giant steers the fund.
  • Live since 2006, through multiple biotech booms and busts, with a billion-dollar-plus asset base behind it.
  • Moderately traded rather than a thin corner of the shelf, which matters in a sector where headlines arrive fast.
  • Lands in the upper half of the biotech and genomics funds we grade.
  • XBI Modified equal weighting spreads exposure across roughly 160 biotechs instead of a handful of giants, so small drug developers actually move the fund.ssga.com
  • 0.35% a year sits below the typical fee in its biotech peer group, which is unusual for a specialist sleeve this narrow.
  • Among the most heavily traded funds in biotech and multi-billion-dollar in size, so getting in and out is rarely the hard part.
  • A 2006 launch from State Street's SPDR line, meaning it has traded through several biotech booms and busts rather than one hot cycle. Pays quarterly.

Worth knowing

  • FBT At 0.55% a year it runs above the typical biotech fund's fee, and cheaper index routes exist (IBBQ at 0.19%, XBI at 0.35%).
  • About 30 stocks, equally weighted, means one trial readout can swing the whole basket. Concentrated biotech moves hard in both directions.
  • Not an income holding: drug developers plow cash into pipelines, and the fund has not been sending out distributions.
  • XBI Equal weighting leans hard on smaller, clinical-stage names where a single trial readout moves a stock, so swings run deeper than cap-weighted rivals like IBB.ssga.comnasdaqomx.com
  • Not the cheapest ticket on the shelf: Invesco's IBBQ charges 0.19% against XBI's 0.35%.
  • One US industry only, drawn from the biotechnology segment of the S&P Total Market Index, so it can drift a long way from the broad market either direction.ssga.com

Full FBT profile⁠

Full XBI profile⁠

FBT vs XBI Holdings

How FBT and XBI differ

Overlap by weight

25.2%

Shared holdings make up 60.7% of FBT and 25.2% of XBI.

Level by level

  • Holdings18 in both25.2%
  • Countryby domicile95.2%
  • Sector2 Sectors99.5%
  • Asset classStocks100%

Sector

Sector weights in FBT and XBI, widest gap first
SectorMore in FBTMore in XBIGap
Health CareFBT +0.5 points
FinancialsXBI +0.5 points

Country, concentration and asset class

Country by domicile

Country weights in FBT and XBI, widest gap first
CountryMore in FBTMore in XBIGap
DenmarkFBT +4.8 points
United StatesXBI +1.6 points
SwitzerlandXBI +1.4 points
United KingdomXBI +1.3 points
Other countries (3)XBI +0.6 points

Concentration

Weight in the 10 largest Holdings

  • FBT39.3%
  • XBI18.3%

Securities held

  • FBT30
  • XBI163

Asset class

FBT
Stocks
XBI
Stocks

Holdings

  • Only in FBT12
  • In both18
  • Only in XBI145

Only in FBT

12 securities, 39.2% of FBT by weight

  • Genmab A/S (ADR)4.81%
  • BeOne Medicines Ltd. (ADR)3.82%
  • argenx SE (ADR)3.74%

Only in XBI

145 securities, 74.7% of XBI by weight

  • Moderna Inc2.79%
  • Spyre Therapeutics Inc1.78%
  • AbbVie Inc1.73%

Weight gaps

All 18 Holdings in both funds, largest gap first.

Holding weights in FBT and XBI, widest gap first
HoldingMore in FBTMore in XBIGap
ADMA Biologics, Inc.ADMAFBT +3.51 points
Regeneron Pharmaceuticals, Inc.REGNFBT +2.37 points
Neurocrine Biosciences, Inc.NBIXFBT +2.27 points
Alkermes PlcALKSFBT +2.26 points
Incyte CorporationINCYFBT +2.12 points
BioMarin Pharmaceutical Inc.BMRNFBT +2.11 points
Exelixis, Inc.EXELFBT +2.10 points
Vertex Pharmaceuticals IncorporatedVRTXFBT +2.01 points

All 30 FBT holdings⁠All 165 XBI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FBT vs XBI Cost

Overpaying FBT vs XBI

$3,778

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FBT 0.55%

    $10,904

  • XBI 0.35%

    $7,126

$10,000
30 years

Cost over time

  • FBT 0.55%
  • XBI 0.35%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530FBT $10,904XBI $7,126

Year by year

YearFBTXBIOverpaying
10$988$634$354
20$3,790$2,454$1,336
30$10,904$7,126$3,778

Expense ratio

  • 0.55%FBT
  • 0.35%XBI, cheaper
  • Middle half of Biotech & Genomics funds
  • Median 0.47%

XBI 3rd cheapest of 17 funds

FBT 13th cheapest of 17 funds

FBT vs XBI Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
FBT 0.00%
XBI 0.35%, better
Payout (12M)
FBT None
XBI $0.54
Last payment
FBT No data
XBI $0.14
Ex-dividend
FBT No data
XBI Jun 22, 2026
Paid on
FBT No data
XBI Jun 24, 2026
Frequency
FBT No data
XBI Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

FBT2 paymentsAll FBT payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Dec 30, 2021 $2.21; Dec 13, 2024 $1.17. Use the arrow keys to read each point.$0$2.502017202020232026YTD
XBITwice a year · 24 paymentsAll XBI payments⁠
One bar per payment. 24 payments from 2017 to 2026 YTD. Mar 17, 2017 $0.02; Jun 16, 2017 $0.11; Sep 15, 2017 $0.04; Dec 15, 2017 $0.04; Mar 16, 2018 $0.06; Jun 15, 2018 $0.06; Sep 21, 2018 $0.07; Dec 21, 2018 $0.01; Sep 20, 2019 $0.0032; Dec 20, 2019 $0.00086; Jun 22, 2020 $0.02; Sep 21, 2020 $0.09; Dec 21, 2020 $0.18; Mar 22, 2021 $0.04; Jun 20, 2023 $0.0026; Dec 18, 2023 $0.01; Jun 24, 2024 $0.11; Sep 23, 2024 $0.02; Dec 23, 2024 $0.0027; Mar 24, 2025 $0.0053; Jun 23, 2025 $0.0073; Sep 22, 2025 $0.03; Dec 22, 2025 $0.41; Jun 22, 2026 $0.14. Use the arrow keys to read each point.$0$2.502017202020232026YTD

FBT vs XBI Risk

Fall from peak · 5 years

  • FBT
  • XBI
Nov 9, 2021 to Nov 9, 2026. Worst fall: XBI −51.2% · May 2022. Use the arrow keys to read each point.−50%−40%−30%−20%−10%0%Nov 2021May 2024Nov 2026

Risk facts

VolatilityStd dev, 3 years
FBT 17.4%, betterXBI 24.8%
Return per unit of riskSharpe ratio, 3 years
FBT 1.27, betterXBI 1.11
Worst fallMax drawdown, 5 years
FBT −24.7%, betterXBI −51.2%
Market sensitivityBeta, 5 years
FBT 0.76XBI 1.10

FBT and XBI in the news

All news⁠

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