A field effect transistor (FET) and method of forming the FET comprises a substrate; a silicon germanium (SiGe) layer over the substrate; a semiconductor layer over and adjacent to the SiGe layer; an insulating layer adjacent to the substrate, the SiGe layer, and the semiconductor layer; a pair of first gate structures adjacent to the insulating layer; and a second gate structure over the insulating layer. Preferably, the insulating layer is adjacent to a side surface of the SiGe layer and an upper surface of the semiconductor layer, a lower surface of the semiconductor layer, and a side surface of the semiconductor layer. Preferably, the SiGe layer comprises carbon. Preferably, the pair of first gate structures are substantially transverse to the second gate structure. Additionally, the pair of first gate structures are preferably encapsulated by the insulating layer.