LGOV Alternatives & Similar ETFs

First Trust Long Duration Opportunities ETF (LGOV) belongs to the Mortgage Backed Securities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with LGOV. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to LGOV

LGOV charges 0.70% annually. There are 25 ETFs in the Mortgage Backed Securities category with lower expense ratios, going as low as 0.03%.

Symbol	Name	Expense Ratio	AUM	Inception
SMBS	Schwab Mortgage-Backed Securities ETF	0.03%	—	Nov 2024	LGOV vs SMBS
VMBS	Vanguard Mortgage-Backed Securities ETF	0.04%	17.10B	Nov 2009	LGOV vs VMBS
SPMB	SPDR Portfolio Mortgage Backed Bond ETF	0.04%	7.01B	Jan 2009	LGOV vs SPMB
MBB	iShares MBS Bond ETF	0.06%	39.27B	Mar 2007	LGOV vs MBB
MTBA	Simplify MBS ETF	0.15%	1.53B	Nov 2023	LGOV vs MTBA

Best Risk-Adjusted Alternatives to LGOV

LGOV has a PortfoliosLab risk / return rank of 22. There are 18 ETFs in the Mortgage Backed Securities category with higher risk-adjusted ranks, going as high as 96.

Symbol	Name	Risk / Return Rank	AUM	Inception
FTSD	Franklin Short Duration U.S. Government ETF	96	297.39M	Nov 2013	LGOV vs FTSD
LMBS	First Trust Low Duration Mortgage Opportunities ET...	91	6.35B	Nov 2014	LGOV vs LMBS
VABS	Virtus Newfleet ABS/MBS ETF	78	112.35M	Feb 2021	LGOV vs VABS
DEED	First Trust TCW Securitized Plus ETF	54	78.78M	Apr 2020	LGOV vs DEED
PMBS	PIMCO Mortgage-Backed Securities Active Exchange-T...	52	—	Jul 1997	LGOV vs PMBS

Top Performing LGOV Alternatives (YTD)

LGOV is at -1.01% YTD. There are 21 ETFs in the Mortgage Backed Securities category with higher YTD returns, going as high as 2.25%.

Symbol	Name	YTD Return	AUM	Inception
NSCI	Nuveen Securitized Income ETF	2.25%	178.50M	Sep 2025	LGOV vs NSCI
VABS	Virtus Newfleet ABS/MBS ETF	1.91%	112.35M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.48%	6.35B	Nov 2014	LGOV vs LMBS
MBSX	Regan Fixed Rate MBS ETF	1.36%	13.94M	Apr 2025	LGOV vs MBSX
DEED	First Trust TCW Securitized Plus ETF	1.22%	78.78M	Apr 2020	LGOV vs DEED

Lowest Volatility Alternatives to LGOV

LGOV has 7.01% 1-year volatility. There are 25 ETFs in the Mortgage Backed Securities category with lower 1-year volatility, going as low as 1.27%.

Symbol	Name	Volatility 1Y	AUM	Inception
NSCI	Nuveen Securitized Income ETF	1.27%	178.50M	Sep 2025	LGOV vs NSCI
FTSD	Franklin Short Duration U.S. Government ETF	1.35%	297.39M	Nov 2013	LGOV vs FTSD
ASEC	American Century Securitized Credit ETF	1.43%	19.95M	May 2026	LGOV vs ASEC
VABS	Virtus Newfleet ABS/MBS ETF	1.95%	112.35M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.96%	6.35B	Nov 2014	LGOV vs LMBS

Lowest Drawdown Alternatives to LGOV

LGOV has a 1-year max drawdown of -5.62%. There are 18 ETFs in the Mortgage Backed Securities category with shallower 1-year drawdowns, going as shallow as -0.45%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
FTSD	Franklin Short Duration U.S. Government ETF	-0.45%	297.39M	Nov 2013	LGOV vs FTSD
VABS	Virtus Newfleet ABS/MBS ETF	-0.98%	112.35M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	-1.43%	6.35B	Nov 2014	LGOV vs LMBS
MBSD	FlexShares Disciplined Duration MBS Index Fund	-2.17%	89.04M	Sep 2014	LGOV vs MBSD
CMBS	iShares CMBS ETF	-2.44%	473.70M	Feb 2012	LGOV vs CMBS

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 14 categories. AUM among these funds goes as high as $14B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	37	32.93%	14.26B	Jul 2015	LGOV vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Alternative Energy Equities	60	20.61%	11.74B	Nov 2009	LGOV vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	69	25.49%	10.80B	Mar 2014	LGOV vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	4	-8.10%	132.86M	Feb 2012	LGOV vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	73	14.12%	7.48B	Mar 2006	LGOV vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	20	-6.69%	510.89M	Mar 2021	LGOV vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	95	91.84%	2.46B	Sep 2016	LGOV vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	38	15.12%	4.34B	Aug 2012	LGOV vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	57	23.13%	718.18M	Feb 2007	LGOV vs QCLN
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	31	7.35%	3.40B	Mar 2018	LGOV vs KNG

Often Compared With LGOV

Investors most often compare LGOV with SGOV, MGOV, SPY. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
SGOV	iShares 0-3 Month Treasury Bond ETF	Ultrashort Bond	100	1.92%	97.69B	May 2020	LGOV vs SGOV
MGOV	First Trust Intermediate Government Opportunities ...	Government Bonds	40	0.21%	101.35M	Aug 2023	LGOV vs MGOV
SPY	State Street SPDR S&P 500 ETF	S&P 500	66	10.84%	783.21B	Jan 1993	LGOV vs SPY
TLH	iShares 10-20 Year Treasury Bond ETF	Government Bonds, Long-Term Bond	17	-1.23%	11.04B	Jan 2007	LGOV vs TLH
DCRE	DoubleLine Commercial Real Estate ETF	Short-Term Bond	97	1.68%	452.76M	Mar 2023	LGOV vs DCRE
QQQ	Invesco QQQ ETF	Nasdaq-100	61	17.43%	481.14B	Mar 1999	LGOV vs QQQ
SECU	iShares Securitized Income Active ETF	Mortgage Backed Securities	—	—	861.99M	Jan 2026	LGOV vs SECU
JMTG	JPMorgan Mortgage-Backed Securities ETF	Mortgage Backed Securities	47	0.48%	6.66B	Aug 2000	LGOV vs JMTG
OWNS	CCM Affordable Housing MBS ETF	Mortgage Backed Securities	39	0.32%	111.55M	Jul 2021	LGOV vs OWNS
YCS	ProShares UltraShort Yen	Leveraged Currency	72	10.96%	36.37M	Nov 2008	LGOV vs YCS
MTGP	WisdomTree Mortgage Plus Bond Fund	Mortgage Backed Securities	34	0.67%	65.79M	Nov 2019	LGOV vs MTGP
EVMO	Eaton Vance Mortgage Opportunities ETF	Mortgage Backed Securities	—	0.89%	—	Aug 2025	LGOV vs EVMO
JMBS	Janus Henderson Mortgage-Backed Securities ETF	Mortgage Backed Securities	48	0.54%	6.76B	Sep 2018	LGOV vs JMBS
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	Commodities	52	29.95%	1.12B	Oct 2014	LGOV vs COMT
CMDY	iShares Bloomberg Roll Select Commodity Strategy E...	Commodities	58	19.53%	540.68M	Apr 2018	LGOV vs CMDY
GNMA	iShares GNMA Bond ETF	Mortgage Backed Securities	48	0.52%	425.03M	Feb 2012	LGOV vs GNMA
VETZ	Academy Veteran Bond ETF	Mortgage Backed Securities	44	0.65%	80.69M	Aug 2023	LGOV vs VETZ
UCO	ProShares Ultra Bloomberg Crude Oil	Oil & Gas, Leveraged Commodities	38	103.57%	361.56M	Nov 2008	LGOV vs UCO
ROBT	First Trust Nasdaq Artificial Intelligence & Robot...	Technology Equities, Robotics	20	7.10%	733.99M	Feb 2018	LGOV vs ROBT
OILK	ProShares K-1 Free Crude Oil Strategy ETF	Oil & Gas	41	49.74%	200.43M	Sep 2016	LGOV vs OILK

Compare LGOV with Any Fund or Stock

Compare LGOV with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

Diversifiers

Pair LGOV with funds that move differently

First Trust Long Duration Opportunities ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to LGOV.

Explore LGOV Diversifiers

First Trust Long Duration Opportunities ETF (LGOV) Alternatives