FAUG vs. MGC

Last updated Jun 4, 2026

FAUG (FT Cboe Vest U.S. Equity Buffer ETF - August) and MGC (Vanguard Mega Cap ETF) are both Large Cap Blend Equities funds - FAUG tracks the Cboe S&P 500 Buffer Protect Index August while MGC tracks the CRSP US Mega Cap Index. Both are passively managed. Over the past 5 years, FAUG returned 8.88%/yr vs 14.70%/yr for MGC. Their correlation of 0.95 suggests significant overlap in exposure. FAUG charges 0.85%/yr vs 0.05%/yr for MGC.

Performance

FAUG vs. MGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) and Vanguard Mega Cap ETF (MGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAUG achieves a 6.16% return, which is significantly lower than MGC's 10.80% return.

FAUG

• 1D: -0.14%
• 1M: 2.13%
• YTD: 6.16%
• 6M: 6.73%
• 1Y: 18.00%
• 3Y*: 14.48%
• 5Y*: 8.88%
• 10Y*: —

MGC

• 1D: -0.79%
• 1M: 5.59%
• YTD: 10.80%
• 6M: 10.75%
• 1Y: 29.68%
• 3Y*: 23.87%
• 5Y*: 14.70%
• 10Y*: 16.36%

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

FAUG vs. MGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August	6.16%	13.77%	14.55%	17.24%	-10.52%	11.54%	12.43%	2.37%
MGC Vanguard Mega Cap ETF	10.80%	19.31%	27.16%	29.77%	-19.95%	27.58%	21.57%	5.04%

Correlation

The correlation between FAUG and MGC is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.95

The correlation between FAUG and MGC has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

FAUG vs. MGC - Sectors Allocation Comparison

Sectors	FAUG	MGC
Technology	35.6%	39.3%
Financial Services	11.8%	11.7%
Communication Services	11.2%	13.1%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.5%	8.9%
Industrials	8.3%	6.5%
Consumer Defensive	4.9%	4.8%
Energy	3.5%	2.6%
Utilities	2.4%	1.0%
Real Estate	1.9%	1.0%
Basic Materials	1.8%	1.2%

Return for Risk

FAUG vs. MGC — Risk / Return Rank

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

FAUG

FAUG Risk / Return Rank: 79
FAUG Sharpe Ratio Rank: 78
FAUG Sortino Ratio Rank: 81
FAUG Omega Ratio Rank: 83
FAUG Calmar Ratio Rank: 70
FAUG Martin Ratio Rank: 85

MGC

MGC Risk / Return Rank: 69
MGC Sharpe Ratio Rank: 73
MGC Sortino Ratio Rank: 71
MGC Omega Ratio Rank: 71
MGC Calmar Ratio Rank: 60
MGC Martin Ratio Rank: 71

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.

FAUG vs. MGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) and Vanguard Mega Cap ETF (MGC). 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.

	FAUG	MGC	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.42	+0.08
Sortino ratio: Return per unit of downside risk	3.60	3.30	+0.30
Omega ratio: Gain probability vs. loss probability	1.50	1.43	+0.07
Calmar ratio: Return relative to maximum drawdown	3.44	3.03	+0.41
Martin ratio: Return relative to average drawdown	17.42	13.61	+3.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAUG vs. MGC - Sharpe Ratio Comparison

The current FAUG Sharpe Ratio is 2.51, which is comparable to the MGC Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FAUG and MGC, 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

	FAUG	MGC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.42	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.86	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.60	+0.18

Drawdowns

FAUG vs. MGC - Drawdown Comparison

The maximum FAUG drawdown since its inception was -22.33%, smaller than the maximum MGC drawdown of -51.93%. Use the drawdown chart below to compare losses from any high point for FAUG and MGC.

Drawdown Indicators

	FAUG	MGC	Difference
Max Drawdown Largest peak-to-trough decline	-22.33%	-51.93%	+29.60%
Max Drawdown (1Y) Largest decline over 1 year	-5.26%	-9.85%	+4.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.81%	-19.28%	+6.47%
Max Drawdown (5Y) Largest decline over 5 years	-15.91%	-25.74%	+9.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.07%	—
Current Drawdown Current decline from peak	-0.14%	-0.79%	+0.65%
Average Drawdown Average peak-to-trough decline	-2.83%	-7.06%	+4.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	2.19%	-1.15%

Volatility

FAUG vs. MGC - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) is 0.94%, while Vanguard Mega Cap ETF (MGC) has a volatility of 3.04%. This indicates that FAUG experiences smaller price fluctuations and is considered to be less risky than MGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAUG	MGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	3.04%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	5.44%	9.27%	-3.83%
Volatility (1Y) Calculated over the trailing 1-year period	7.22%	12.32%	-5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	17.27%	-6.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.75%	18.21%	-5.46%

FAUG vs. MGC - Expense Ratio Comparison

FAUG has a 0.85% expense ratio, which is higher than MGC's 0.05% expense ratio.

Dividends

FAUG vs. MGC - Dividend Comparison

FAUG has not paid dividends to shareholders, while MGC's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MGC Vanguard Mega Cap ETF	0.87%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%

Frequently Asked Questions

Can I hold both FAUG and MGC in my portfolio?

With a correlation of 0.96, FAUG and MGC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FAUG or MGC?

MGC has higher volatility (3.04%) compared to FAUG (0.94%). In terms of maximum drawdown, FAUG dropped -22.33% vs MGC's -51.93%.

Which ETF is better, FAUG or MGC?

On 5-year performance, MGC leads with 14.70% vs 8.88% for FAUG. On fees, MGC is cheaper at 0.05% per year. On volatility, FAUG has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAUG or MGC?

Over the 5-year period, MGC has performed better with a 14.70% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAUG or MGC?

MGC is cheaper with a 0.05% expense ratio, compared with 0.85% for FAUG.

Which ETF pays a higher dividend yield, FAUG or MGC?

MGC has the higher dividend yield at 0.87%, compared with 0.00% for FAUG.

What is the main difference between FAUG and MGC?

FAUG tracks Cboe S&P 500 Buffer Protect Index August, while MGC tracks CRSP US Mega Cap Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.85% for FAUG and 0.05% for MGC.

Which has better risk-adjusted returns?

FAUG currently has the higher Sharpe Ratio (2.51 vs 2.42), 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.