DIAL vs. UCON
DIAL (Columbia Diversified Fixed Income Allocation ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both exchange-traded funds - DIAL is a Multisector Bonds fund tracking the Bloomberg Beta Advantage Multi-Sector Bond Index, while UCON is a Nontraditional Bonds fund actively managed by First Trust. DIAL is passively managed, while UCON is actively managed. Over the past 5 years, DIAL returned 0.63%/yr vs 2.78%/yr for UCON. A 0.52 correlation means they provide meaningful diversification when combined. DIAL charges 0.29%/yr vs 0.86%/yr for UCON.
Performance
DIAL vs. UCON - Performance Comparison
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Returns By Period
In the year-to-date period, DIAL achieves a 0.94% return, which is significantly higher than UCON's 0.76% return.
DIAL
- 1D
- -0.03%
- 1M
- 0.61%
- YTD
- 0.94%
- 6M
- 1.01%
- 1Y
- 5.59%
- 3Y*
- 5.87%
- 5Y*
- 0.63%
- 10Y*
- —
UCON
- 1D
- 0.02%
- 1M
- 0.50%
- YTD
- 0.76%
- 6M
- 0.92%
- 1Y
- 5.01%
- 3Y*
- 5.89%
- 5Y*
- 2.78%
- 10Y*
- —
DIAL vs. UCON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DIAL Columbia Diversified Fixed Income Allocation ETF | 0.94% | 9.93% | 1.69% | 8.54% | -16.13% | -1.14% | 9.08% | 14.05% | 0.64% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.76% | 7.00% | 4.69% | 7.72% | -5.72% | 1.02% | 6.54% | 7.39% | 1.11% |
Correlation
The correlation between DIAL and UCON is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.52 |
Over the past year, DIAL and UCON have become more correlated (0.85) than their long-term average of 0.52, meaning their price movements have been converging.
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Return for Risk
DIAL vs. UCON — Risk / Return Rank
DIAL
UCON
DIAL vs. UCON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Diversified Fixed Income Allocation ETF (DIAL) 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.
| DIAL | UCON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 2.05 | -0.37 |
| Martin ratioReturn relative to average drawdown | 6.39 | 7.85 | -1.46 |
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Drawdowns
DIAL vs. UCON - Drawdown Comparison
The maximum DIAL drawdown since its inception was -22.19%, which is greater than UCON's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for DIAL and UCON.
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Drawdown Indicators
| DIAL | UCON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -15.31% | -6.88% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -2.45% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -2.85% | -4.16% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -9.60% | -12.59% |
Current DrawdownCurrent decline from peak | -0.83% | -0.43% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -5.51% | -1.48% | -4.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.64% | +0.24% |
Volatility
DIAL vs. UCON - Volatility Comparison
Columbia Diversified Fixed Income Allocation ETF (DIAL) has a higher volatility of 1.36% compared to First Trust TCW Unconstrained Plus Bond ETF (UCON) at 0.85%. This indicates that DIAL's price experiences larger fluctuations and is considered to be riskier than UCON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIAL | UCON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 0.85% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 2.37% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 2.99% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 3.90% | +3.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.02% | 5.88% | +1.14% |
DIAL vs. UCON - Expense Ratio Comparison
DIAL has a 0.29% expense ratio, which is lower than UCON's 0.86% expense ratio.
Dividends
DIAL vs. UCON - Dividend Comparison
DIAL's dividend yield for the trailing twelve months is around 5.05%, more than UCON's 4.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DIAL Columbia Diversified Fixed Income Allocation ETF | 5.05% | 4.81% | 4.67% | 3.77% | 3.47% | 2.46% | 2.61% | 3.27% | 3.56% | 0.65% |
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% | 0.00% |
Frequently Asked Questions
DIAL and UCON have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIAL has higher volatility (1.36%) compared to UCON (0.85%). In terms of maximum drawdown, DIAL dropped -22.19% vs UCON's -15.31%.
On 5-year performance, UCON leads with 2.78% vs 0.63% for DIAL. On fees, DIAL is cheaper at 0.29% per year. On volatility, UCON has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UCON has performed better with a 2.78% return vs 0.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIAL is cheaper with a 0.29% expense ratio, compared with 0.86% for UCON.
DIAL has the higher dividend yield at 5.05%, compared with 4.66% for UCON.
DIAL is categorized as Multisector Bonds, while UCON is Nontraditional Bonds. They also come from different issuers: Ameriprise Financial and First Trust. Their fees differ too: 0.29% for DIAL and 0.86% for UCON.
UCON currently has the higher Sharpe Ratio (1.69 vs 1.35), 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.
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