FCAL vs. GRID
Compare and contrast key facts about First Trust California Municipal High Income ETF (FCAL) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID).
FCAL and GRID 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. GRID is a passively managed fund by First Trust that tracks the performance of the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. It was launched on Nov 17, 2009.
Performance
FCAL vs. GRID - Performance Comparison
Loading graphics...
FCAL vs. GRID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 0.00% | 3.19% | 1.90% | 6.08% | -9.50% | 3.26% | 3.51% | 9.32% | 0.31% | 4.41% |
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | 6.96% | 29.65% | 15.18% | 21.57% | -13.89% | 27.65% | 48.84% | 42.80% | -22.69% | 16.93% |
Returns By Period
FCAL
- 1D
- 0.27%
- 1M
- -2.08%
- YTD
- 0.00%
- 6M
- 1.94%
- 1Y
- 4.14%
- 3Y*
- 2.88%
- 5Y*
- 0.77%
- 10Y*
- —
GRID
- 1D
- 3.81%
- 1M
- -7.97%
- YTD
- 6.96%
- 6M
- 8.57%
- 1Y
- 46.12%
- 3Y*
- 20.12%
- 5Y*
- 14.69%
- 10Y*
- 18.08%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
FCAL vs. GRID - Expense Ratio Comparison
FCAL has a 0.50% expense ratio, which is lower than GRID's 0.70% expense ratio.
Return for Risk
FCAL vs. GRID — Risk / Return Rank
FCAL
GRID
FCAL vs. GRID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). 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.
| FCAL | GRID | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 2.16 | -1.24 |
Sortino ratioReturn per unit of downside risk | 1.21 | 2.95 | -1.74 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.41 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | 0.97 | 3.82 | -2.85 |
Martin ratioReturn relative to average drawdown | 2.69 | 14.42 | -11.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| FCAL | GRID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 2.16 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.71 | -0.53 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.52 | -0.06 |
Correlation
The correlation between FCAL and GRID is 0.04, 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.
Dividends
FCAL vs. GRID - Dividend Comparison
FCAL's dividend yield for the trailing twelve months is around 3.32%, more than GRID's 0.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 3.32% | 3.22% | 2.99% | 2.74% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% | 0.00% | 0.00% |
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | 0.92% | 1.01% | 1.06% | 1.23% | 1.26% | 0.63% | 0.68% | 1.26% | 1.28% | 1.07% | 1.07% | 1.23% |
Drawdowns
FCAL vs. GRID - Drawdown Comparison
The maximum FCAL drawdown since its inception was -14.81%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for FCAL and GRID.
Loading graphics...
Drawdown Indicators
| FCAL | GRID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.81% | -40.56% | +25.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.30% | -11.73% | +7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -14.44% | -29.64% | +15.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.56% | — |
Current DrawdownCurrent decline from peak | -2.08% | -8.37% | +6.29% |
Average DrawdownAverage peak-to-trough decline | -3.40% | -8.50% | +5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 3.11% | -1.56% |
Volatility
FCAL vs. GRID - Volatility Comparison
The current volatility for First Trust California Municipal High Income ETF (FCAL) is 1.48%, while First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID) has a volatility of 9.26%. This indicates that FCAL experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| FCAL | GRID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 9.26% | -7.78% |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | 14.14% | -12.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 21.44% | -16.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.26% | 20.68% | -16.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.29% | 22.74% | -17.45% |