ELM vs. ESBG

Last updated Aug 2, 2026

ELM (Elm Market Navigator ETF) and ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) are both Tactical Allocation funds. Both are actively managed. Their 0.66 correlation means they have sometimes moved together and sometimes differently. ELM charges 0.24%/yr vs 0.95%/yr for ESBG.

Performance

ELM vs. ESBG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Elm Market Navigator ETF (ELM) and First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ELM achieves a 7.06% return, which is significantly higher than ESBG's -2.79% return.

ELM

• 1D: 0.39%
• 1M: 0.02%
• 6M: 4.28%
• YTD: 7.06%
• 1Y: 16.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.11%

ESBG

• 1D: -0.46%
• 1M: -2.07%
• 6M: -11.15%
• YTD: -2.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ELM Elm Market Navigator ETF	$351.63K	$455.82K	$575.19K
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	$3.83K	$6.10K	$15.77K

ELM vs. ESBG - Yearly Performance Comparison

	2026 (YTD)	2025
ELM Elm Market Navigator ETF	7.06%	2.89%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	-2.79%	5.67%

Correlation

The correlation between ELM and ESBG is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.66

Return for Risk

ELM vs. ESBG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ELM

ELM Risk / Return Rank: 68
ELM Sharpe Ratio Rank: 70
ELM Sortino Ratio Rank: 69
ELM Omega Ratio Rank: 72
ELM Calmar Ratio Rank: 59
ELM Martin Ratio Rank: 69

ESBG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ELM vs. ESBG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Elm Market Navigator ETF (ELM) and First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG). 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.

	ELM	ESBG	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.26	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.10	—	—
Martin ratio: Return relative to average drawdown	8.42	—	—

Drawdowns

ELM vs. ESBG - Drawdown Comparison

The maximum ELM drawdown since its inception was -9.02%, smaller than the maximum ESBG drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for ELM and ESBG.

Drawdown Indicators

	ELM	ESBG	Difference
Max Drawdown Largest peak-to-trough decline	-9.02%	-18.84%	+9.82%
Max Drawdown (1Y) Largest decline over 1 year	-7.52%	—	—
Current Drawdown Current decline from peak	-1.04%	-17.57%	+16.53%
Average Drawdown Average peak-to-trough decline	-1.32%	-8.52%	+7.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	—	—

Volatility

Volatility by Period

	ELM	ESBG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.80%	25.17%	-15.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.26%	25.17%	-14.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	25.17%	-14.91%

ELM vs. ESBG - Expense Ratio Comparison

ELM has a 0.24% expense ratio, which is lower than ESBG's 0.95% expense ratio.

Dividends

ELM vs. ESBG - Dividend Comparison

ELM's dividend yield for the trailing twelve months is around 2.53%, more than ESBG's 1.12% yield.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.53%	2.71%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	1.12%	0.24%

Frequently Asked Questions

Can I hold both ELM and ESBG in my portfolio?

ELM and ESBG have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ELM or ESBG?

On fees, ELM is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ELM or ESBG?

ELM is cheaper with a 0.24% expense ratio, compared with 0.95% for ESBG.

Which ETF pays a higher dividend yield, ELM or ESBG?

ELM has the higher dividend yield at 2.53%, compared with 1.12% for ESBG.

What is the main difference between ELM and ESBG?

They also come from different issuers: Elm and First Trust. Their fees differ too: 0.24% for ELM and 0.95% for ESBG.