FTLS vs MKTN
First Trust Long/Short Equity ETF against Federated Hermes MDT Market Neutral ETF: cost, size, returns, what they hold and how much of it is the same.
Overlap by weight
8%
48 shared positions
Fee gap
56 bp
FTLS is cheaper
1-year return gap
5.1 pts
MKTN is ahead
Larger fund
FTLS
$2.6B
Side by side
| FTLS | MKTN | |
|---|---|---|
| Fund | First Trust Long/Short Equity ETF | Federated Hermes MDT Market Neutral ETF |
| Issuer | First Trust | Federated Hermes |
| Category | Long/Short & Market Neutral | Long/Short & Market Neutral |
| Expense ratio | 1.38% | 1.94% |
| Assets | $2.6B | $107M |
| Average daily dollar volume | $13M | $1.3M |
| Listed | Sep 8, 2014 | Sep 24, 2025 |
| FrenzyCap score | 61 | 38 |
| 1-month return | +0.9% | +3.4% |
| 3-month return | +4.0% | +7.6% |
| Year to date | +9.5% | +11.4% |
| 1-year return | +11.5% | +16.7% |
| 30-day volatility | 6.1% | 4.4% |
| Worst drawdown, 1 year | −3.8% | −4.1% |
| Trailing 12-month yield | 0.86% | 0.23% |
| Holdings | 518 | 394 |
| Top 10 weight | 29.4% | 23.8% |
| Look-through P/E | 26.9 | 24.1 |
| Holdings vs fair value | +6.0% | +13.4% |
| Holdings above 200-day average | 73% | 56% |
| Net flow, latest 3 reported months | +$152M thru Jul 2026 | +$25M thru Jun 2026 |
| 30-day implied volatility | 20.5% | — |
| Holdings as of | as of Oct 20, 2026issuer data | as of Jun 30, 2026SEC filing |
Returns are price returns and exclude distributions. Flows are each fund's own latest reported months and may not cover the same period.
Largest shared holdings
23% of FTLS · 24% of MKTN| Holding | FTLS | MKTN |
|---|---|---|
| ABBV | 0.83% | 2.44% |
| FTNT | 0.66% | 1.22% |
| DELL | 0.75% | 0.49% |
| GM | 0.44% | 0.70% |
| RTX | 0.40% | 0.58% |
| AMGN | 0.41% | 0.33% |
| TRV | 0.33% | 2.86% |
| CAH | 0.43% | 0.28% |
| TEAM | 0.27% | 0.83% |
| NTAP | 0.27% | 0.87% |
| OKTA | 0.23% | 0.30% |
| GEV | 0.20% | 2.89% |
| BNY | 0.20% | 1.90% |
| AMP | 0.17% | 0.74% |
| SNX | 0.17% | 0.30% |
| STLD | 0.25% | 0.16% |
| ALL | 0.23% | 0.15% |
| HALO | 0.15% | 0.19% |
| WDC | 0.60% | 0.14% |
| FIVE | 0.14% | 1.90% |
| SN | 0.14% | 0.26% |
| ALNY | 0.13% | 0.47% |
| INCY | 0.13% | 0.27% |
| PBF | 0.13% | 0.49% |
| NUE | 0.32% | 0.12% |
Sector mix of the stock holdings
| Sector | FTLS | MKTN | Gap |
|---|---|---|---|
| Technology | 39.0% | 24.8% | +14.3% |
| Industrials | 9.7% | 16.1% | −6.3% |
| Health Care | 9.8% | 13.1% | −3.3% |
| Financials | 6.5% | 13.2% | −6.6% |
| Consumer Discretionary | 8.1% | 11.3% | −3.1% |
| Materials | 3.7% | 3.6% | +0.1% |
| Energy | 4.8% | 1.6% | +3.3% |
| Real Estate | 2.6% | 1.8% | +0.8% |
| Consumer Staples | 3.6% | 0.3% | +3.4% |
| Communication Services | 2.0% | 1.9% | +0.1% |
| Utilities | 0.5% | 1.3% | −0.8% |
More: full overlap table · FTLS holdings · MKTN holdings
Fund data comes from each fund's SEC filings and issuer disclosures and is shown with the date it is as of. SEC portfolio and flow filings become public about 60 days after the period they cover. Nothing here is investment advice; see Terms.