DABS vs. UCON

Last updated Jun 24, 2026

DABS (DoubleLine Asset-Backed Securities ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both Nontraditional Bonds funds. Both are actively managed. Over the past year, DABS returned 4.88% vs 5.01% for UCON. A 0.69 correlation means they provide meaningful diversification when combined. DABS charges 0.40%/yr vs 0.86%/yr for UCON.

Performance

DABS vs. UCON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Asset-Backed Securities ETF (DABS) and First Trust TCW Unconstrained Plus Bond ETF (UCON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DABS achieves a 1.10% return, which is significantly higher than UCON's 0.76% return.

DABS

• 1D: -0.01%
• 1M: 0.34%
• YTD: 1.10%
• 6M: 1.36%
• 1Y: 4.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCON

• 1D: 0.02%
• 1M: 0.50%
• YTD: 0.76%
• 6M: 0.92%
• 1Y: 5.01%
• 3Y*: 5.89%
• 5Y*: 2.78%
• 10Y*: —

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

DABS vs. UCON - Yearly Performance Comparison

	2026 (YTD)	2025
DABS DoubleLine Asset-Backed Securities ETF	1.10%	5.63%
UCON First Trust TCW Unconstrained Plus Bond ETF	0.76%	4.90%

Correlation

The correlation between DABS and UCON is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (All Time) Calculated using the full available price history since Mar 4, 2025	0.69

The correlation between DABS and UCON has been stable across timeframes, ranging from 0.69 to 0.72 - a consistent structural relationship.

Return for Risk

DABS vs. UCON — Risk / Return Rank

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

DABS

DABS Risk / Return Rank: 75
DABS Sharpe Ratio Rank: 68
DABS Sortino Ratio Rank: 76
DABS Omega Ratio Rank: 75
DABS Calmar Ratio Rank: 80
DABS Martin Ratio Rank: 76

UCON

UCON Risk / Return Rank: 50
UCON Sharpe Ratio Rank: 52
UCON Sortino Ratio Rank: 53
UCON Omega Ratio Rank: 53
UCON Calmar Ratio Rank: 44
UCON Martin Ratio Rank: 49

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.

DABS vs. UCON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Asset-Backed Securities ETF (DABS) and First Trust TCW Unconstrained Plus Bond ETF (UCON). 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.

	DABS	UCON	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.69	+0.31
Sortino ratio: Return per unit of downside risk	3.08	2.42	+0.66
Omega ratio: Gain probability vs. loss probability	1.40	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	3.79	2.05	+1.74
Martin ratio: Return relative to average drawdown	12.94	7.85	+5.09

DABS vs. UCON - Sharpe Ratio Comparison

The current DABS Sharpe Ratio is 2.00, which is comparable to the UCON Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of DABS and UCON, 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

DABS vs. UCON - Drawdown Comparison

The maximum DABS drawdown since its inception was -1.47%, smaller than the maximum UCON drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for DABS and UCON.

Drawdown Indicators

	DABS	UCON	Difference
Max Drawdown Largest peak-to-trough decline	-1.47%	-15.31%	+13.84%
Max Drawdown (1Y) Largest decline over 1 year	-1.29%	-2.45%	+1.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.60%	—
Current Drawdown Current decline from peak	-0.27%	-0.43%	+0.16%
Average Drawdown Average peak-to-trough decline	-0.31%	-1.48%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.64%	-0.26%

Volatility

DABS vs. UCON - Volatility Comparison

The current volatility for DoubleLine Asset-Backed Securities ETF (DABS) is 0.67%, while First Trust TCW Unconstrained Plus Bond ETF (UCON) has a volatility of 0.85%. This indicates that DABS experiences smaller price fluctuations and is considered to be less risky than UCON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DABS	UCON	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.85%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	2.37%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	2.46%	2.99%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.55%	3.90%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.55%	5.88%	-3.33%

DABS vs. UCON - Expense Ratio Comparison

DABS has a 0.40% expense ratio, which is lower than UCON's 0.86% expense ratio.

Dividends

DABS vs. UCON - Dividend Comparison

DABS's dividend yield for the trailing twelve months is around 4.88%, more than UCON's 4.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DABS DoubleLine Asset-Backed Securities ETF	4.88%	3.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCON First Trust TCW Unconstrained Plus Bond ETF	4.66%	4.63%	4.95%	4.75%	3.12%	2.20%	3.14%	3.25%	1.76%

Frequently Asked Questions

Can I hold both DABS and UCON in my portfolio?

DABS and UCON have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DABS or UCON?

UCON has higher volatility (0.85%) compared to DABS (0.67%). In terms of maximum drawdown, DABS dropped -1.47% vs UCON's -15.31%.

Which ETF is better, DABS or UCON?

On 1-year performance, UCON leads with 5.01% vs 4.88% for DABS. On fees, DABS is cheaper at 0.40% per year. On volatility, DABS has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DABS or UCON?

Over the 1-year period, UCON has performed better with a 5.01% return vs 4.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DABS or UCON?

DABS is cheaper with a 0.40% expense ratio, compared with 0.86% for UCON.

Which ETF pays a higher dividend yield, DABS or UCON?

DABS has the higher dividend yield at 4.88%, compared with 4.66% for UCON.

What is the main difference between DABS and UCON?

They also come from different issuers: DoubleLine and First Trust. Their fees differ too: 0.40% for DABS and 0.86% for UCON.

Which has better risk-adjusted returns?

DABS currently has the higher Sharpe Ratio (2.00 vs 1.69), 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.