DTRE vs. UCON

Last updated Jun 4, 2026

DTRE (First Trust Alerian Disruptive Technology Real Estate ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both exchange-traded funds - DTRE is a REIT fund tracking the Alerian Disruptive Technology Real Estate Index - Benchmark TR Net, while UCON is a Nontraditional Bonds fund actively managed by First Trust. DTRE is passively managed, while UCON is actively managed. Over the past 5 years, DTRE returned -1.51%/yr vs 2.76%/yr for UCON. At a 0.27 correlation, their price movements are largely independent. DTRE charges 0.60%/yr vs 0.86%/yr for UCON.

Performance

DTRE vs. UCON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) 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, DTRE achieves a 6.06% return, which is significantly higher than UCON's 0.58% return.

DTRE

• 1D: -0.90%
• 1M: -0.63%
• YTD: 6.06%
• 6M: 7.52%
• 1Y: 8.38%
• 3Y*: 4.60%
• 5Y*: -1.51%
• 10Y*: 2.38%

UCON

• 1D: -0.24%
• 1M: 0.38%
• YTD: 0.58%
• 6M: 0.66%
• 1Y: 5.50%
• 3Y*: 5.68%
• 5Y*: 2.76%
• 10Y*: —

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

DTRE vs. UCON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DTRE First Trust Alerian Disruptive Technology Real Estate ETF	6.06%	8.32%	-9.71%	13.89%	-26.53%	27.43%	-8.81%	21.84%	-4.97%
UCON First Trust TCW Unconstrained Plus Bond ETF	0.58%	7.00%	4.69%	7.72%	-5.72%	1.02%	6.54%	7.39%	1.11%

Correlation

The correlation between DTRE and UCON is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018	0.27

The correlation between DTRE and UCON shifts across timeframes, from 0.27 (all time) to 0.47 (1 year), reflecting how their relationship changes across market environments.

DTRE vs. UCON - Sectors Allocation Comparison

Sectors	DTRE	UCON
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	100.0%

Return for Risk

DTRE vs. UCON — Risk / Return Rank

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

DTRE

DTRE Risk / Return Rank: 20
DTRE Sharpe Ratio Rank: 19
DTRE Sortino Ratio Rank: 19
DTRE Omega Ratio Rank: 19
DTRE Calmar Ratio Rank: 20
DTRE Martin Ratio Rank: 22

UCON

UCON Risk / Return Rank: 52
UCON Sharpe Ratio Rank: 53
UCON Sortino Ratio Rank: 55
UCON Omega Ratio Rank: 56
UCON Calmar Ratio Rank: 46
UCON Martin Ratio Rank: 51

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.

DTRE vs. UCON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) 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.

	DTRE	UCON	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.85	-1.23
Sortino ratio: Return per unit of downside risk	0.97	2.65	-1.69
Omega ratio: Gain probability vs. loss probability	1.12	1.35	-0.23
Calmar ratio: Return relative to maximum drawdown	0.88	2.25	-1.38
Martin ratio: Return relative to average drawdown	2.63	8.74	-6.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DTRE vs. UCON - Sharpe Ratio Comparison

The current DTRE Sharpe Ratio is 0.63, which is lower than the UCON Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of DTRE 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.

Sharpe Ratios by Period

	DTRE	UCON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.63	1.85	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.71	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.63	-0.53

Drawdowns

DTRE vs. UCON - Drawdown Comparison

The maximum DTRE drawdown since its inception was -72.26%, which is greater than UCON's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for DTRE and UCON.

Drawdown Indicators

	DTRE	UCON	Difference
Max Drawdown Largest peak-to-trough decline	-72.26%	-15.31%	-56.95%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-2.45%	-7.16%
Max Drawdown (3Y) Largest decline over 3 years	-20.65%	-2.85%	-17.80%
Max Drawdown (5Y) Largest decline over 5 years	-34.62%	-9.60%	-25.02%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	—	—
Current Drawdown Current decline from peak	-13.21%	-0.61%	-12.60%
Average Drawdown Average peak-to-trough decline	-16.89%	-1.48%	-15.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	0.63%	+2.56%

Volatility

DTRE vs. UCON - Volatility Comparison

First Trust Alerian Disruptive Technology Real Estate ETF (DTRE) has a higher volatility of 3.92% compared to First Trust TCW Unconstrained Plus Bond ETF (UCON) at 1.14%. This indicates that DTRE'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.

Volatility by Period

	DTRE	UCON	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	1.14%	+2.78%
Volatility (6M) Calculated over the trailing 6-month period	9.86%	2.33%	+7.53%
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	2.98%	+10.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.11%	3.89%	+14.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	5.89%	+12.64%

DTRE vs. UCON - Expense Ratio Comparison

DTRE has a 0.60% expense ratio, which is lower than UCON's 0.86% expense ratio.

Dividends

DTRE vs. UCON - Dividend Comparison

DTRE's dividend yield for the trailing twelve months is around 3.39%, less than UCON's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DTRE First Trust Alerian Disruptive Technology Real Estate ETF	3.39%	3.42%	3.75%	2.56%	2.49%	2.64%	0.79%	4.97%	3.38%	3.07%	4.16%	1.74%
UCON First Trust TCW Unconstrained Plus Bond ETF	4.67%	4.63%	4.95%	4.75%	3.12%	2.20%	3.14%	3.25%	1.76%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DTRE and UCON in my portfolio?

DTRE and UCON have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DTRE or UCON?

DTRE has higher volatility (3.92%) compared to UCON (1.14%). In terms of maximum drawdown, DTRE dropped -72.26% vs UCON's -15.31%.

Which ETF is better, DTRE or UCON?

On 5-year performance, UCON leads with 2.76% vs -1.51% for DTRE. On fees, DTRE is cheaper at 0.60% per year. On volatility, UCON has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DTRE or UCON?

Over the 5-year period, UCON has performed better with a 2.76% return vs -1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DTRE or UCON?

DTRE is cheaper with a 0.60% expense ratio, compared with 0.86% for UCON.

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

UCON has the higher dividend yield at 4.67%, compared with 3.39% for DTRE.

What is the main difference between DTRE and UCON?

DTRE is categorized as REIT, while UCON is Nontraditional Bonds. Their fees differ too: 0.60% for DTRE and 0.86% for UCON.

Which has better risk-adjusted returns?

UCON currently has the higher Sharpe Ratio (1.85 vs 0.63), 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.