ESBG vs. ELM

Last updated Jul 14, 2026

ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and ELM (Elm Market Navigator ETF) are both Tactical Allocation funds. Both are actively managed. A 0.66 correlation means they provide meaningful diversification when combined. ESBG charges 0.95%/yr vs 0.24%/yr for ELM.

Performance

ESBG vs. ELM - Performance Comparison

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

Returns By Period

In the year-to-date period, ESBG achieves a -2.86% return, which is significantly lower than ELM's 6.86% return.

ESBG

• 1D: -2.33%
• 1M: -2.85%
• 6M: -8.17%
• YTD: -2.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELM

• 1D: -0.64%
• 1M: 0.06%
• 6M: 4.40%
• YTD: 6.86%
• 1Y: 15.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ESBG vs. ELM - Yearly Performance Comparison

	2026 (YTD)	2025
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	-2.86%	5.67%
ELM Elm Market Navigator ETF	6.86%	2.89%

Correlation

The correlation between ESBG and ELM is 0.66, 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 19, 2025	0.66

Return for Risk

ESBG vs. ELM — Risk / Return Rank

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

ESBG

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

ELM

ELM Risk / Return Rank: 59
ELM Sharpe Ratio Rank: 60
ELM Sortino Ratio Rank: 59
ELM Omega Ratio Rank: 62
ELM Calmar Ratio Rank: 52
ELM Martin Ratio Rank: 60

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. ELM - Risk-Adjusted Trends Comparison

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

	ESBG	ELM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.60	—
Sortino ratio: Return per unit of downside risk	—	2.24	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.08	—
Martin ratio: Return relative to average drawdown	—	8.41	—

Drawdowns

ESBG vs. ELM - Drawdown Comparison

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

Drawdown Indicators

	ESBG	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-18.84%	-9.02%	-9.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.52%	—
Current Drawdown Current decline from peak	-17.63%	-1.23%	-16.40%
Average Drawdown Average peak-to-trough decline	-7.74%	-1.31%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.86%	—

Volatility

Volatility by Period

	ESBG	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.19%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.71%	9.82%	+15.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.71%	10.37%	+15.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.71%	10.37%	+15.34%

ESBG vs. ELM - Expense Ratio Comparison

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

Dividends

ESBG vs. ELM - Dividend Comparison

ESBG's dividend yield for the trailing twelve months is around 1.12%, less than ELM's 2.54% yield.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.54%	2.71%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	1.12%	0.24%

Frequently Asked Questions

Can I hold both ESBG and ELM in my portfolio?

ESBG and ELM 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, ESBG or ELM?

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, ESBG or ELM?

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

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

ELM has the higher dividend yield at 2.54%, compared with 1.12% for ESBG.

What is the main difference between ESBG and ELM?

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