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%	17.30B	Nov 2009	LGOV vs VMBS
MBB	iShares MBS Bond ETF	0.04%	38.93B	Mar 2007	LGOV vs MBB
SPMB	SPDR Portfolio Mortgage Backed Bond ETF	0.04%	7.00B	Jan 2009	LGOV vs SPMB
GNMA	iShares GNMA Bond ETF	0.15%	421.25M	Feb 2012	LGOV vs GNMA

Best Risk-Adjusted Alternatives to LGOV

LGOV has a PortfoliosLab risk / return rank of 15. There are 19 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	301.85M	Nov 2013	LGOV vs FTSD
LMBS	First Trust Low Duration Mortgage Opportunities ET...	88	6.35B	Nov 2014	LGOV vs LMBS
VABS	Virtus Newfleet ABS/MBS ETF	79	112.17M	Feb 2021	LGOV vs VABS
DEED	First Trust TCW Securitized Plus ETF	37	64.17M	Apr 2020	LGOV vs DEED
JMTG	JPMorgan Mortgage-Backed Securities ETF	37	6.79B	Aug 2000	LGOV vs JMTG

Top Performing LGOV Alternatives (YTD)

LGOV is at -1.68% YTD. There are 21 ETFs in the Mortgage Backed Securities category with higher YTD returns, going as high as 5.39%.

Symbol	Name	YTD Return	AUM	Inception
MBSX	Regan Fixed Rate MBS ETF	5.39%	13.94M	Apr 2025	LGOV vs MBSX
NSCI	Nuveen Securitized Income ETF	2.60%	207.24M	Sep 2025	LGOV vs NSCI
VABS	Virtus Newfleet ABS/MBS ETF	2.08%	112.17M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.45%	6.35B	Nov 2014	LGOV vs LMBS
FTSD	Franklin Short Duration U.S. Government ETF	1.13%	301.85M	Nov 2013	LGOV vs FTSD

Lowest Volatility Alternatives to LGOV

LGOV has 6.91% 1-year volatility. There are 25 ETFs in the Mortgage Backed Securities category with lower 1-year volatility, going as low as 1.30%.

Symbol	Name	Volatility 1Y	AUM	Inception
NSCI	Nuveen Securitized Income ETF	1.30%	207.24M	Sep 2025	LGOV vs NSCI
FTSD	Franklin Short Duration U.S. Government ETF	1.37%	301.85M	Nov 2013	LGOV vs FTSD
ASEC	American Century Securitized Credit ETF	1.82%	20.00M	May 2026	LGOV vs ASEC
VABS	Virtus Newfleet ABS/MBS ETF	1.87%	112.17M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	1.94%	6.35B	Nov 2014	LGOV vs LMBS

Lowest Drawdown Alternatives to LGOV

LGOV has a 1-year max drawdown of -5.62%. There are 19 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%	301.85M	Nov 2013	LGOV vs FTSD
VABS	Virtus Newfleet ABS/MBS ETF	-0.98%	112.17M	Feb 2021	LGOV vs VABS
LMBS	First Trust Low Duration Mortgage Opportunities ET...	-1.43%	6.35B	Nov 2014	LGOV vs LMBS
EVMO	Eaton Vance Mortgage Opportunities ETF	-1.89%	—	Aug 2025	LGOV vs EVMO
MBSD	FlexShares Disciplined Duration MBS Index Fund	-2.17%	88.64M	Sep 2014	LGOV vs MBSD

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $25B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	44	31.78%	14.31B	Jul 2015	LGOV vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Infrastructure Equities, Alternative Energy Equities, Energy Equities	53	19.50%	11.67B	Nov 2009	LGOV vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	63	22.38%	10.18B	Mar 2014	LGOV vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	9	-5.08%	118.19M	Feb 2012	LGOV vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	92	18.62%	7.77B	Mar 2006	LGOV vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	23	-6.86%	514.13M	Mar 2021	LGOV vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	91	68.79%	1.27B	Sep 2016	LGOV vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	49	16.55%	4.18B	Aug 2012	LGOV vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities, Energy Equities	42	13.15%	586.61M	Feb 2007	LGOV vs QCLN
RDVY	First Trust Rising Dividend Achievers ETF	Dividend, Large Cap Blend Equities	88	18.21%	24.89B	Jan 2014	LGOV vs RDVY

Often Compared With LGOV

Investors most often compare LGOV with SGOV, MGOV, SPY. These 20 comparison targets span 15 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	2.13%	99.95B	May 2020	LGOV vs SGOV
MGOV	First Trust Intermediate Government Opportunities ...	Government Bonds	25	-0.47%	100.06M	Aug 2023	LGOV vs MGOV
SPY	State Street SPDR S&P 500 ETF	S&P 500	78	11.70%	789.06B	Jan 1993	LGOV vs SPY
DCRE	DoubleLine Commercial Real Estate ETF	Short-Term Bond	97	1.94%	452.38M	Mar 2023	LGOV vs DCRE
TLH	iShares 10-20 Year Treasury Bond ETF	Government Bonds, Long-Term Bond	9	-2.55%	10.83B	Jan 2007	LGOV vs TLH
PMBS	PIMCO Mortgage-Backed Securities Active Exchange-T...	Mortgage Backed Securities	34	0.07%	—	Jul 1997	LGOV vs PMBS
QQQ	Invesco QQQ ETF	Nasdaq-100	58	14.23%	452.80B	Mar 1999	LGOV vs QQQ
SECU	iShares Securitized Income Active ETF	Mortgage Backed Securities	—	—	879.95M	Jan 2026	LGOV vs SECU
OWNS	CCM Affordable Housing MBS ETF	Mortgage Backed Securities	28	-0.38%	111.55M	Jul 2021	LGOV vs OWNS
MTGP	WisdomTree Mortgage Plus Bond Fund	Mortgage Backed Securities	31	0.10%	69.79M	Nov 2019	LGOV vs MTGP
YCS	ProShares UltraShort Yen	Leveraged Currency	59	4.11%	29.84M	Nov 2008	LGOV vs YCS
CMBS	iShares CMBS ETF	Mortgage Backed Securities	31	0.13%	472.92M	Feb 2012	LGOV vs CMBS
JMBS	Janus Henderson Mortgage-Backed Securities ETF	Mortgage Backed Securities	33	-0.27%	6.69B	Sep 2018	LGOV vs JMBS
CMDY	iShares Bloomberg Roll Select Commodity Strategy E...	Commodities	71	19.88%	558.83M	Apr 2018	LGOV vs CMDY
MTBA	Simplify MBS ETF	Mortgage Backed Securities	33	-0.45%	1.49B	Nov 2023	LGOV vs MTBA
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	Commodities	56	29.71%	1.19B	Oct 2014	LGOV vs COMT
KNG	FT Vest S&P 500 Dividend Aristocrats Target Income...	Dividend, S&P 500	47	9.32%	3.53B	Mar 2018	LGOV vs KNG
ROBT	First Trust Nasdaq Artificial Intelligence & Robot...	Artificial Intelligence, Technology Equities, Robotics	25	8.60%	724.78M	Feb 2018	LGOV vs ROBT
VETZ	Academy Veteran Bond ETF	Mortgage Backed Securities	30	-0.26%	80.69M	Aug 2023	LGOV vs VETZ
UCO	ProShares Ultra Bloomberg Crude Oil	Oil & Gas, Leveraged Commodities	38	95.50%	421.22M	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