Do FBT and PBE hold the same stocks?

By their latest filings, 49% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, FBT or PBE?

FBT has 25% of its weight in S&P 500 names and PBE has 32%, so FBT differs more from the index.

Which is cheaper, FBT or PBE?

FBT charges 0.55% a year and PBE charges 0.59%, so FBT is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Thematic ETFs

FBT vs PBE: Holdings Overlap & Returns

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Over the year to Nov 4, 2026, FBT returned +47.0% to PBE's +44.2%; 49% of their weight is in the same names.

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Net assets on Nov 3, 2026: $3.1bn for First Trust NYSE Arca Biotechnology Index Fund and $442m for Invesco Biotechnology & Genome ETF.

FBT on its own →PBE on its own →

At a glance

24.8%

FBT in the S&P 500

32.3%

PBE in the S&P 500

+47.0%

FBT total return, 1 year

+44.2%

PBE total return, 1 year

FBT · 1 year to Nov 4, 2026 75% of its weight is outside the S&P 500

25% of FBT's weight is in S&P 500 companies and 75% is outside the index. Holdings as of Nov 3, 2026.

PBE · 1 year to Nov 4, 2026 68% of its weight is outside the S&P 500

32% of PBE's weight is in S&P 500 companies and 68% is outside the index. Holdings as of Nov 3, 2026.

Pair scorecard

FBT costs 0.04 points a year less; their one-year returns differ by 2.8 points; FBT is 7.0 times larger.

FBT vs PBE: Holdings Overlap & Returns
Measure	FBT	PBE
Return
Measure	FBT	PBE
Total return, 1 year	+47.0%	+44.2%
Benchmark
Measure	FBT	PBE
What it tracks	Biotech	Biotech
Cost and size
Measure	FBT	PBE
Expense ratio	0.55%	0.59%
Net assets, as of Nov 3, 2026	$3.1bn	$442m
Holdings
Measure	FBT	PBE
Holdings in common	49%

Method

Risk and return

Jun 30, 2006 to Oct 30, 2026 · 1,061 weekly returns

FBT PBE

Return

Total return edge FBT +1,283.9% +567.0%

Annualized edge FBT +13.7% +9.7%

Price return edge FBT +1,237.9% +531.6%

Risk

Volatility edge PBE (slight) 25.1% 24.5%

Max drawdown edge FBT (slight) −39.7% −43.6%

Risk-adjusted

Sharpe edge FBT 0.57 0.43

Sortino edge FBT 0.86 0.63

Calmar edge FBT 0.35 0.22

Reading

From Jun 2006 to Oct 2026, FBT returned more: +1,283.9% to +567.0%. PBE swung slightly less: 24.5% to 25.1%. FBT fell slightly less at its worst: −39.7% to −43.6%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FBT vs PBE: Holdings Overlap & Returns
Measure	FBT	PBE	Edge	How it is measured
Return
Total return	+1,283.9%	+567.0%	FBT	Price change plus distributions, reinvested.
Annualized	+13.7%	+9.7%	FBT	Total return as a yearly rate.
Price return	+1,237.9%	+531.6%	FBT	Price change alone, distributions left out.
Risk
Volatility	25.1%	24.5%	PBE (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.7%	16.9%	Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−39.7%	−43.6%	FBT (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.57	0.43	FBT	Return above Treasury bills per unit of volatility.
Sortino	0.86	0.63	FBT	Return above Treasury bills per unit of downside deviation.
Calmar	0.35	0.22	FBT	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,061 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

49%

By the books each fund has filed, FBT and PBE hold 49% of their money in the same securities at the same weight. Holdings dated Nov 3, 2026.

50%

0 half 100%

half

49% in common

Positions both hold · largest shared weight first FBT PBE

Regeneron Pharmaceuticals, Inc. 4.18% 5.62%

Amgen Inc. 3.57% 5.02%

Gilead Sciences, Inc. 3.56% 5.42%

Biogen Inc. 3.54% 5.43%

Exelixis, Inc. 3.88% 3.35%

Vertex Pharmaceuticals Incorporated 3.34% 4.62%

Natera, Inc. 3.11% 5.56%

Halozyme Therapeutics, Inc. 3.74% 3.09%

United Therapeutics Corporation 3.51% 3.05%

Veracyte, Inc. 3.57% 3.00%

TG Therapeutics, Inc. 3.52% 2.88%

Neurocrine Biosciences, Inc. 3.71% 2.82%

Only in one fund ↓

Only in FBT

Genmab A/S (ADR) 4.81%

Alkermes Plc 3.61%

argenx SE (ADR) 3.51%

ADMA Biologics, Inc. 3.44%

NeoGenomics, Inc. 3.30%

Bio-Techne Corporation 3.22%

BeOne Medicines Ltd. (ADR) 3.21%

Tarsus Pharmaceuticals, Inc. 3.19%

Only in PBE

Royalty Pharma PLC 5.15%

Moderna Inc 3.78%

QIAGEN NV 3.03%

Novavax Inc 2.69%

Legend Biotech Corp 2.65%

Sarepta Therapeutics Inc 2.57%

Vericel Corp 2.50%

Protagonist Therapeutics Inc 2.45%

Check overlap with more funds →

Window by window

Window by window: FBT vs PBE: Holdings Overlap & Returns
	Total return
Window	FBT	PBE
3 months	+12.2%	+14.2%
6 months	+30.5%	+27.1%
1 year	+47.0%	+44.2%
3 years	+100.5%	+90.4%
Since launchNot the same days: FBT Jun 2006 · PBE Jun 2005	+1,349.5%	+650.5%

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Side by side

FBT First Trust NYSE Arca Biotechnology Index Fund · Holds 30 stocks in biotech, 25% of its weight in S&P 500 companies PBE Invesco Biotechnology & Genome ETF · Holds 32 stocks in biotech, 32% of its weight in S&P 500 companies

Issuer First Trust Invesco

Theme Biotech Biotech

In the S&P 500 24.8% 32.3%

Active share vs the S&P 500 99.1% 99.0%

In the Nasdaq-100 16.9% 20.7%

Holdings 30 32

Top ten, share of the fund 38.2% 49.1%

Expense ratio 0.55% 0.59%

Fee for the differing part 0.55% 0.60%

Total return, 1 year +47.0% +44.2%

vs its benchmark not measured not measured

Below its high −0.3% 0.0%

Net assets, as of Nov 3, 2026 $3.1bn $442m

As of Nov 4, 2026. Source: ETFIQ.

49% of the two portfolios are the same securities at the same weight.

Client brief:

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About each fund

FBT

By weight, 25% of FBT's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 38% of the fund across 30 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +47.0% with distributions reinvested.

PBE

By weight, 32% of PBE's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 49% of the fund across 32 positions, as published by its issuer for Nov 3, 2026. Over the year to Nov 4, 2026 the fund returned +44.2% with distributions reinvested.

Questions people ask

Do FBT and PBE hold the same stocks?: By their latest filings, 49% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, FBT or PBE?: FBT has 25% of its weight in S&P 500 names and PBE has 32%, so FBT differs more from the index.
Which is cheaper, FBT or PBE?: FBT charges 0.55% a year and PBE charges 0.59%, so FBT is cheaper. Fees come from each fund's prospectus.

Other comparisons

FBT vs IBBQ FBT vs IBB FBT vs BBH FBT vs PBPH PBE vs BBC PBE vs PBPH PBE vs XBI PBE vs IBB

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →FBT on its own →PBE on its own →FBT dividend history →FBT holdings →PBE dividend history →PBE holdings →Method →Standards and sources →

Sources and dates

FBT filings on SEC EDGAR ↗

FBT prospectus with the expense ratio (SEC) ↗

First Trust page for FBT ↗

PBE filings on SEC EDGAR ↗

PBE prospectus with the expense ratio (SEC) ↗

Invesco page for PBE ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, FBT against PBE, data as of Nov 4, 2026. https://etfiq.com/compare/themes/fbt-vs-pbe

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.