ESBG vs. ALLW

Last updated Jun 5, 2026

ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and ALLW (SPDR Bridgewater All Weather ETF) are both Tactical Allocation funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. ESBG charges 0.95%/yr vs 0.85%/yr for ALLW.

Performance

ESBG vs. ALLW - Performance Comparison

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

Returns By Period

In the year-to-date period, ESBG achieves a 5.96% return, which is significantly lower than ALLW's 9.24% return.

ESBG

• 1D: 0.79%
• 1M: 1.11%
• YTD: 5.96%
• 6M: 7.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ALLW

• 1D: 0.03%
• 1M: 0.40%
• YTD: 9.24%
• 6M: 8.84%
• 1Y: 22.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ESBG vs. ALLW - Yearly Performance Comparison

	2026 (YTD)	2025
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	5.96%	5.72%
ALLW SPDR Bridgewater All Weather ETF	9.24%	1.64%

Correlation

The correlation between ESBG and ALLW is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.79

Return for Risk

ESBG vs. ALLW — Risk / Return Rank

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

ALLW

ALLW Risk / Return Rank: 66
ALLW Sharpe Ratio Rank: 66
ALLW Sortino Ratio Rank: 63
ALLW Omega Ratio Rank: 66
ALLW Calmar Ratio Rank: 63
ALLW Martin Ratio Rank: 72

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.

ESBG vs. ALLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) and SPDR Bridgewater All Weather ETF (ALLW). 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.

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

Sharpe Ratios by Period

	ESBG	ALLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	1.62	-0.67

Drawdowns

ESBG vs. ALLW - Drawdown Comparison

The maximum ESBG drawdown since its inception was -18.84%, which is greater than ALLW's maximum drawdown of -8.78%. Use the drawdown chart below to compare losses from any high point for ESBG and ALLW.

Drawdown Indicators

	ESBG	ALLW	Difference
Max Drawdown Largest peak-to-trough decline	-18.84%	-8.78%	-10.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.23%	—
Current Drawdown Current decline from peak	-10.14%	-0.76%	-9.38%
Average Drawdown Average peak-to-trough decline	-6.27%	-1.20%	-5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.70%	—

Volatility

Volatility by Period

	ESBG	ALLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.39%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.19%	10.52%	+14.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.19%	12.52%	+12.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.19%	12.52%	+12.67%

ESBG vs. ALLW - Expense Ratio Comparison

ESBG has a 0.95% expense ratio, which is higher than ALLW's 0.85% expense ratio.

Dividends

ESBG vs. ALLW - Dividend Comparison

ESBG's dividend yield for the trailing twelve months is around 0.57%, less than ALLW's 4.28% yield.

Position	TTM	2025
ALLW SPDR Bridgewater All Weather ETF	4.28%	4.67%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	0.57%	0.24%

Frequently Asked Questions

Can I hold both ESBG and ALLW in my portfolio?

ESBG and ALLW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESBG or ALLW?

On fees, ALLW is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESBG or ALLW?

ALLW is cheaper with a 0.85% expense ratio, compared with 0.95% for ESBG.

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

ALLW has the higher dividend yield at 4.28%, compared with 0.57% for ESBG.

What is the main difference between ESBG and ALLW?

They also come from different issuers: First Trust and State Street. Their fees differ too: 0.95% for ESBG and 0.85% for ALLW.