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 22 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
SPMB	SPDR Portfolio Mortgage Backed Bond ETF	0.04%	6.93B	Jan 2009	LGOV vs SPMB
VMBS	Vanguard Mortgage-Backed Securities ETF	0.04%	16.80B	Nov 2009	LGOV vs VMBS
MBB	iShares MBS Bond ETF	0.06%	38.74B	Mar 2007	LGOV vs MBB
MTBA	Simplify MBS ETF	0.15%	1.57B	Nov 2023	LGOV vs MTBA

Best Risk-Adjusted Alternatives to LGOV

LGOV has a PortfoliosLab risk / return rank of 23. There are 17 ETFs in the Mortgage Backed Securities category with higher risk-adjusted ranks, going as high as 95.

Symbol	Name	Risk / Return Rank	AUM	Inception
FTSD	Franklin Short Duration U.S. Government ETF	95	287.55M	Nov 2013	LGOV vs FTSD
LMBS	First Trust Low Duration Mortgage Opportunities ET...	88	6.27B	Nov 2014	LGOV vs LMBS
VABS	Virtus Newfleet ABS/MBS ETF	69	80.85M	Feb 2021	LGOV vs VABS
PMBS	PIMCO Mortgage-Backed Securities Active Exchange-T...	53	—	Jul 1997	LGOV vs PMBS
JMBS	Janus Henderson Mortgage-Backed Securities ETF	48	6.74B	Sep 2018	LGOV vs JMBS

Top Performing LGOV Alternatives (YTD)

LGOV is at -0.60% YTD. There are 20 ETFs in the Mortgage Backed Securities category with higher YTD returns, going as high as 6.22%.

Symbol	Name	YTD Return	AUM	Inception
MBSX	Regan Fixed Rate MBS ETF	6.22%	13.94M	Apr 2025	LGOV vs MBSX
VABS	Virtus Newfleet ABS/MBS ETF	1.39%	80.85M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.24%	6.27B	Nov 2014	LGOV vs LMBS
PMBS	PIMCO Mortgage-Backed Securities Active Exchange-T...	0.90%	—	Jul 1997	LGOV vs PMBS
FTSD	Franklin Short Duration U.S. Government ETF	0.80%	287.55M	Nov 2013	LGOV vs FTSD

Lowest Volatility Alternatives to LGOV

LGOV has 7.01% 1-year volatility. There are 22 ETFs in the Mortgage Backed Securities category with lower 1-year volatility, going as low as 1.31%.

Symbol	Name	Volatility 1Y	AUM	Inception
FTSD	Franklin Short Duration U.S. Government ETF	1.31%	287.55M	Nov 2013	LGOV vs FTSD
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.97%	6.27B	Nov 2014	LGOV vs LMBS
VABS	Virtus Newfleet ABS/MBS ETF	2.04%	80.85M	Feb 2021	LGOV vs VABS
EVMO	Eaton Vance Mortgage Opportunities ETF	2.83%	—	Aug 2025	LGOV vs EVMO
MTBA	Simplify MBS ETF	3.10%	1.57B	Nov 2023	LGOV vs MTBA

Lowest Drawdown Alternatives to LGOV

LGOV has a 1-year max drawdown of -5.62%. There are 17 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%	287.55M	Nov 2013	LGOV vs FTSD
VABS	Virtus Newfleet ABS/MBS ETF	-0.98%	80.85M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	-1.43%	6.27B	Nov 2014	LGOV vs LMBS
MBSD	FlexShares Disciplined Duration MBS Index Fund	-2.17%	93.90M	Sep 2014	LGOV vs MBSD
CMBS	iShares CMBS ETF	-2.44%	481.90M	Feb 2012	LGOV vs CMBS

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, NFTY and span 11 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	Technology Equities, Cybersecurity	26	28.52%	13.68B	Jul 2015	LGOV vs CIBR
GRID	First Trust Nasdaq Clean Edge Smart GRID Infrastru...	Alternative Energy Equities	79	28.91%	11.29B	Nov 2009	LGOV vs GRID
NFTY	First Trust India NIFTY 50 Equal Weight ETF	Asia Pacific Equities	3	-9.70%	133.88M	Feb 2012	LGOV vs NFTY
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	78	31.77%	10.62B	Mar 2014	LGOV vs AIRR
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	70	13.33%	7.39B	Mar 2006	LGOV vs FDL
IGLD	FT Cboe Vest Gold Strategy Target Income ETF	Precious Metals, Gold	28	1.69%	591.41M	Mar 2021	LGOV vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	97	115.70%	2.52B	Sep 2016	LGOV vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	83	30.57%	4.66B	Aug 2012	LGOV vs TDIV
KNG	FT Cboe Vest S&P 500 Dividend Aristocrats Target I...	Dividend, S&P 500	20	2.20%	3.28B	Mar 2018	LGOV vs KNG
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities	89	52.94%	895.30M	Feb 2007	LGOV vs QCLN

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	1.51%	91.90B	May 2020	LGOV vs SGOV
MGOV	First Trust Intermediate Government Opportunities ...	Government Bonds	41	0.19%	100.94M	Aug 2023	LGOV vs MGOV
SPY	State Street SPDR S&P 500 ETF	S&P 500	70	10.91%	781.00B	Jan 1993	LGOV vs SPY
TLH	iShares 10-20 Year Treasury Bond ETF	Government Bonds, Long-Term Bond	19	-0.51%	11.36B	Jan 2007	LGOV vs TLH
QQQ	Invesco QQQ ETF	Nasdaq-100	73	21.30%	493.99B	Mar 1999	LGOV vs QQQ
DCRE	DoubleLine Commercial Real Estate ETF	Short-Term Bond	96	1.39%	416.13M	Mar 2023	LGOV vs DCRE
SECU	iShares Securitized Income Active ETF	Mortgage Backed Securities	—	—	698.61M	Jan 2026	LGOV vs SECU
JMTG	JPMorgan Mortgage-Backed Securities ETF	Mortgage Backed Securities	—	0.45%	6.92B	Aug 2000	LGOV vs JMTG
DEED	First Trust TCW Securitized Plus ETF	Mortgage Backed Securities	45	0.32%	66.07M	Apr 2020	LGOV vs DEED
CMDY	iShares Bloomberg Roll Select Commodity Strategy E...	Commodities	72	25.44%	560.49M	Apr 2018	LGOV vs CMDY
COMT	iShares Commodities Select Strategy ETF	Commodities	71	39.67%	1.15B	Oct 2014	LGOV vs COMT
YCS	ProShares UltraShort Yen	Leveraged Currency	61	7.17%	29.57M	Nov 2008	LGOV vs YCS
CMDT	PIMCO Commodity Strategy Active Exchange-Traded Fu...	Commodities	88	23.96%	801.86M	May 2023	LGOV vs CMDT
GNMA	iShares GNMA Bond ETF	Mortgage Backed Securities	46	0.56%	429.16M	Feb 2012	LGOV vs GNMA
OWNS	CCM Affordable Housing MBS ETF	Mortgage Backed Securities	46	0.48%	111.55M	Jul 2021	LGOV vs OWNS
VETZ	Academy Veteran Bond ETF	Mortgage Backed Securities	46	0.42%	80.69M	Aug 2023	LGOV vs VETZ
MTGP	WisdomTree Mortgage Plus Bond Fund	Mortgage Backed Securities	39	0.21%	65.40M	Nov 2019	LGOV vs MTGP
ROBT	First Trust Nasdaq Artificial Intelligence & Robot...	Technology Equities, Robotics	32	14.22%	763.61M	Feb 2018	LGOV vs ROBT
DBE	Invesco DB Energy Fund	Oil & Gas	71	83.68%	99.79M	Jan 2007	LGOV vs DBE
UCO	ProShares Ultra Bloomberg Crude Oil	Leveraged Commodities	54	149.12%	384.99M	Nov 2008	LGOV vs UCO

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