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First Trust Enhanced Equity Income Fund (FFA) Sharpe Ratio: 1.38

Mutual Fund · Currency in USD · Last updated Jul 14, 2026

First Trust Enhanced Equity Income Fund seeks to provide a high level of current income and gains, with some capital appreciation, by investing in a diversified portfolio of U.S. and non-U.S. equity securities traded on U.S. exchanges. The Fund also consistently writes covered call options on a portion of its managed assets as part of its integrated investment strategy.

FFA's Sharpe Ratio of 1.38 indicates that for each unit of volatility, it generates 1.38 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 14, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

FFA Sharpe Ratio Rank

FFA Sharpe Ratio Rank: 38.639
Below Average

FFA ranks above 38.6% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

FFA Sharpe Ratio Market Positioning

The chart shows FFA's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.06 or lower
  • Yellow zone (middle 50%): 1.06 to 1.94
  • Green zone (top 25%): 1.94 or higher
  • Top 1%: 3.86+
  • Median: 1.58 — half of all investments score higher

How it compares to other similar mutual funds

The table compares First Trust Enhanced Equity Income Fund's Sharpe Ratio with other mutual funds in the Derivative Income category across multiple time periods, showing how FFA's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 14, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
CIIBlackRock Enhanced Large Cap Core Fund2.58
NIEVirtus Equity & Convertible Income Fund1.92
BMCIXBlackRock High Equity Income Fund1.87
BMEAXBlackRock High Equity Income Fund Class A1.83
SCAUXInvesco Income Advantage U.S. Fund1.78
QQQXNuveen Nasdaq 100 Dynamic Overwrite Fund1.65
TCBIXThe Covered Bridge Fund1.63
BDJBlackRock Enhanced Equity Dividend Fund1.57
EQTIXShelton Equity Income Fund1.57
SCJIXCrossmark Steward Covered Call Income Fund1.50
FFAFirst Trust Enhanced Equity Income Fund1.38

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows FFA's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when FFA consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does FFA fit in your portfolio?

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