CEFS vs. EKG

Last updated Jun 25, 2026

CEFS (Saba Closed-End Funds ETF) and EKG (First Trust Nasdaq Lux Digital Health Solutions ETF) are both exchange-traded funds - CEFS is a Event Driven fund actively managed by Exchange Traded Concepts, while EKG is a Health & Biotech Equities fund tracking the NASDAQ Lux Health Tech Index. CEFS is actively managed, while EKG is passively managed. Over the past 3 years, CEFS returned 21.68%/yr vs 0.88%/yr for EKG. A 0.53 correlation means they provide meaningful diversification when combined. CEFS charges 2.61%/yr vs 0.65%/yr for EKG.

Performance

CEFS vs. EKG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saba Closed-End Funds ETF (CEFS) and First Trust Nasdaq Lux Digital Health Solutions ETF (EKG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEFS achieves a 14.00% return, which is significantly higher than EKG's -4.18% return.

CEFS

• 1D: -1.01%
• 1M: 3.11%
• YTD: 14.00%
• 6M: 15.01%
• 1Y: 24.87%
• 3Y*: 21.68%
• 5Y*: 13.93%
• 10Y*: —

EKG

• 1D: 3.43%
• 1M: 9.19%
• YTD: -4.18%
• 6M: -5.58%
• 1Y: 4.48%
• 3Y*: 0.88%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CEFS vs. EKG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CEFS Saba Closed-End Funds ETF	14.00%	16.67%	23.48%	20.99%	-4.28%
EKG First Trust Nasdaq Lux Digital Health Solutions ETF	-4.18%	11.89%	6.53%	-0.11%	-20.15%

Correlation

The correlation between CEFS and EKG is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Mar 23, 2022	0.53

The correlation between CEFS and EKG shifts across timeframes, from 0.34 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CEFS vs. EKG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CEFS

CEFS Risk / Return Rank: 85
CEFS Sharpe Ratio Rank: 84
CEFS Sortino Ratio Rank: 86
CEFS Omega Ratio Rank: 84
CEFS Calmar Ratio Rank: 86
CEFS Martin Ratio Rank: 87

EKG

EKG Risk / Return Rank: 11
EKG Sharpe Ratio Rank: 12
EKG Sortino Ratio Rank: 11
EKG Omega Ratio Rank: 11
EKG Calmar Ratio Rank: 11
EKG Martin Ratio Rank: 11

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CEFS vs. EKG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saba Closed-End Funds ETF (CEFS) and First Trust Nasdaq Lux Digital Health Solutions ETF (EKG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CEFS	EKG	Difference
Sharpe ratio: Return per unit of total volatility	2.41	0.20	+2.21
Sortino ratio: Return per unit of downside risk	3.47	0.44	+3.03
Omega ratio: Gain probability vs. loss probability	1.45	1.05	+0.40
Calmar ratio: Return relative to maximum drawdown	4.41	0.20	+4.20
Martin ratio: Return relative to average drawdown	16.90	0.44	+16.46

CEFS vs. EKG - Sharpe Ratio Comparison

The current CEFS Sharpe Ratio is 2.41, which is higher than the EKG Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of CEFS and EKG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CEFS vs. EKG - Drawdown Comparison

The maximum CEFS drawdown since its inception was -38.99%, smaller than the maximum EKG drawdown of -43.82%. Use the drawdown chart below to compare losses from any high point for CEFS and EKG.

Drawdown Indicators

	CEFS	EKG	Difference
Max Drawdown Largest peak-to-trough decline	-38.99%	-43.82%	+4.83%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-22.09%	+16.42%
Max Drawdown (3Y) Largest decline over 3 years	-13.37%	-34.49%	+21.12%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	—	—
Current Drawdown Current decline from peak	-1.24%	-15.56%	+14.32%
Average Drawdown Average peak-to-trough decline	-3.65%	-22.59%	+18.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	10.19%	-8.71%

Volatility

CEFS vs. EKG - Volatility Comparison

The current volatility for Saba Closed-End Funds ETF (CEFS) is 4.16%, while First Trust Nasdaq Lux Digital Health Solutions ETF (EKG) has a volatility of 8.59%. This indicates that CEFS experiences smaller price fluctuations and is considered to be less risky than EKG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEFS	EKG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	8.59%	-4.43%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	17.85%	-8.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	22.47%	-12.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	27.12%	-13.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.33%	27.12%	-11.79%

CEFS vs. EKG - Expense Ratio Comparison

CEFS has a 2.61% expense ratio, which is higher than EKG's 0.65% expense ratio.

Dividends

CEFS vs. EKG - Dividend Comparison

CEFS's dividend yield for the trailing twelve months is around 7.08%, while EKG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CEFS Saba Closed-End Funds ETF	7.08%	7.84%	8.79%	9.20%	11.32%	10.73%	8.61%	8.10%	10.43%	5.02%
EKG First Trust Nasdaq Lux Digital Health Solutions ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CEFS and EKG in my portfolio?

CEFS and EKG have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CEFS or EKG?

EKG has higher volatility (8.59%) compared to CEFS (4.16%). In terms of maximum drawdown, CEFS dropped -38.99% vs EKG's -43.82%.

Which ETF is better, CEFS or EKG?

On 3-year performance, CEFS leads with 21.68% vs 0.88% for EKG. On fees, EKG is cheaper at 0.65% per year. On volatility, CEFS has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CEFS or EKG?

Over the 3-year period, CEFS has performed better with a 21.68% return vs 0.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CEFS or EKG?

EKG is cheaper with a 0.65% expense ratio, compared with 2.61% for CEFS.

Which ETF pays a higher dividend yield, CEFS or EKG?

CEFS has the higher dividend yield at 7.08%, compared with 0.00% for EKG.

What is the main difference between CEFS and EKG?

CEFS is categorized as Event Driven, while EKG is Health & Biotech Equities. They also come from different issuers: Exchange Traded Concepts and First Trust. Their fees differ too: 2.61% for CEFS and 0.65% for EKG.

Which has better risk-adjusted returns?

CEFS currently has the higher Sharpe Ratio (2.41 vs 0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.