First Trust California Municipal High Income ETF (FCAL)

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust California Municipal High Income ETF (FCAL) is up 1.9% since the beginning of the year. FCAL is currently trading at $50 per share. Investors who bought $1,000 worth of FCAL shares 5 years ago would now be looking at an investment worth $1,041.

First Trust California Municipal High Income ETF (FCAL) has returned 1.89% so far this year and 7.09% over the past 12 months.

Based on dividend-adjusted daily data since Jun 27, 2017, FCAL's average daily return is +0.01%, while the average monthly return is +0.22%. At this rate, an investment would double in approximately 26.3 years.

Historically, 65% of months were positive and 35% were negative. The best month was Nov 2023 with a return of +5.0%, while the worst month was Mar 2020 at -7.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FCAL closed higher 50% of trading days. The best single day was Mar 25, 2020 with a return of +4.1%, while the worst single day was Mar 12, 2020 at -4.9%.

First Trust California Municipal High Income ETF has an annualized alpha of 2.09%, beta of 0.05, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since June 28, 2017.

• This ETF participated in 19.37% of S&P 500 Index downside but only 14.74% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.05 may look defensive, but with R2 of 0.03 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.03 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FCAL has an expense ratio of 0.50%, placing it in the medium range.

FCAL ranks 75 for risk / return — better than 75% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and compare them to S&P 500 Index.

First Trust California Municipal High Income ETF provided a 3.32% dividend yield over the last twelve months, with an annual payout of $1.65 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for First Trust California Municipal High Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the First Trust California Municipal High Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the First Trust California Municipal High Income ETF was 14.81%, occurring on Mar 20, 2020. Recovery took 189 trading sessions.

The current First Trust California Municipal High Income ETF drawdown is 0.24%.

The chart below shows the rolling one-month volatility.