FCAL vs. CLTL
Compare and contrast key facts about First Trust California Municipal High Income ETF (FCAL) and Invesco Treasury Collateral ETF (CLTL).
FCAL and CLTL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCAL is an actively managed fund by First Trust. It was launched on Jun 20, 2017. CLTL is a passively managed fund by Invesco that tracks the performance of the U.S. Treasury Short Term Index. It was launched on Jan 12, 2017.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FCAL or CLTL.
Key characteristics
| FCAL | CLTL |
|---|
Correlation
The correlation between FCAL and CLTL is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
FCAL vs. CLTL - Performance Comparison
The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FCAL vs. CLTL - Expense Ratio Comparison
FCAL has a 0.50% expense ratio, which is higher than CLTL's 0.08% expense ratio.
Risk-Adjusted Performance
FCAL vs. CLTL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and Invesco Treasury Collateral ETF (CLTL). 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.
Dividends
FCAL vs. CLTL - Dividend Comparison
FCAL's dividend yield for the trailing twelve months is around 2.85%, while CLTL has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 2.85% | 2.74% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% |
CLTL Invesco Treasury Collateral ETF | 3.75% | 4.63% | 1.37% | 0.03% | 0.80% | 2.24% | 1.69% | 0.71% |
Drawdowns
FCAL vs. CLTL - Drawdown Comparison
Volatility
FCAL vs. CLTL - Volatility Comparison
First Trust California Municipal High Income ETF (FCAL) has a higher volatility of 0.88% compared to Invesco Treasury Collateral ETF (CLTL) at 0.00%. This indicates that FCAL's price experiences larger fluctuations and is considered to be riskier than CLTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.