First Trust Equity Market Neutral ETF (NTRL) Performance
NTRL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.2% since Dec 31, 2025
- 1 year
- +10.8% total return
- 5 years
- +4.3% a year
- Since first price
- +2.9% a year since 2020
NTRL trailing returns vs SPY, QQQ, AGG
| Period | NTRL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −0.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +7.2% | +1.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.1% | +1.3% | +7.8% | +8.4% | −1.5% |
| YTD | +8.2% | +2.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +10.8% | +4.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +18.0%+5.7%/yr | +5.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +23.6%+4.3%/yr | +7.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionFeb 5, 2020 | +21.2%+2.9%/yr | +5.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: NTRL vs SPY
From Feb 5, 2020: NTRL grew to $12,119, SPY to $25,110.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NTRL returns by calendar year
5 of 5 full years positive. Best 2025 (+7.0%), worst 2021 (+0.3%). 2026 is year to date.
NTRL annual returns table
| Year | NTRL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.2% | −6.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.0% | −2.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +0.7% | −3.3% | +24.9% | +25.6% | +1.3% |
| 2023 | +2.2% | −3.4% | +26.2% | +54.9% | +5.7% |
| 2022 | +3.9% | −3.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +0.3% | −3.2% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
NTRL largest drawdowns
Now 1.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 21, 2020 | −12.0% | Mar 18, 2020 | Apr 20, 2022 | 26 days | 2.2 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NTRL risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +4.3% | +3.5% | +2.4% |
| Volatility (annualized) | 4.0% | 3.6% | 3.9% |
| Sharpe ratio | -0.02 | -0.01 | -0.07 |
| Sortino ratio | -0.03 | -0.01 | -0.10 |
| Best month | +5.0% | +5.0% | +5.0% |
| Worst month | −2.2% | −2.2% | −3.8% |
| Best 12 months | +8.0% | +8.0% | +8.0% |
| Worst 12 months | −0.0% | −1.0% | −2.8% |
| Positive months | 64% | 63% | 61% |
| Beta vs S&P 500 | 0.05 | 0.03 | — |
| Correlation with S&P 500 | 0.16 | 0.15 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
NTRL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 69 | −2.8% | +2.2% | +10.1% | 93% |
| 3-year (a year) | 45 | +0.5% | +2.1% | +5.7% | 100% |
| 5-year (a year) | 21 | +1.1% | +2.7% | +4.3% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
NTRL performance overview
First Trust Equity Market Neutral ETF (NTRL) returned +10.8% over the past year and +4.3% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +2.9% a year, turning $10,000 into about $12,119. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −12.0%, from Feb 21, 2020 to Mar 18, 2020, and it took 2.1 years to get back to the old high. NTRL finished 5 of its 5 full calendar years with a gain; the best year was 2025 (+7.0%) and the worst 2021 (+0.3%). Volatility has been 3.9% a year.
Related: NTRL chart, NTRL dividends. See the NTRL overview for the latest quote and fund facts.
NTRL performance FAQ
What is the NTRL return over the past year?
NTRL returned +10.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.1%.
What is the average annual return of NTRL?
NTRL has returned +4.3% a year over 5 years, +2.9% a year since February 5, 2020 (total return, distributions reinvested).
How much would $10,000 invested in NTRL be worth?
$10,000 invested in NTRL at its first recorded close on February 5, 2020 would be worth about $12,119 on October 23, 2026 with distributions reinvested.
What was the worst year for NTRL?
The worst calendar year was 2021, with a total return of +0.3%. The best was 2025 at +7.0%.
What is the biggest drawdown of NTRL?
The largest peak-to-trough decline was −12.0% between February 21, 2020 and March 18, 2020. It recovered to the old high on April 20, 2022, 2.1 years after the bottom.
How volatile is NTRL?
Over the past 3 years NTRL had an annualized volatility of 4.0% and a Sharpe ratio of -0.02 (excess return over 1–3 month T-bills per unit of risk).