FCAL vs. ROBT
FCAL (First Trust California Municipal High Income ETF) and ROBT (First Trust Nasdaq Artificial Intelligence & Robotics ETF) are both exchange-traded funds - FCAL is a Municipal Bonds fund actively managed by First Trust, while ROBT is a Technology Equities fund tracking the Nasdaq CTA Artificial Intelligence and Robotics Index. FCAL is actively managed, while ROBT is passively managed. Over the past 5 years, FCAL returned 0.80%/yr vs 2.42%/yr for ROBT. At a 0.04 correlation, their price movements are largely independent. FCAL charges 0.50%/yr vs 0.65%/yr for ROBT.
Performance
FCAL vs. ROBT - Performance Comparison
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Returns By Period
In the year-to-date period, FCAL achieves a 1.83% return, which is significantly lower than ROBT's 14.43% return.
FCAL
- 1D
- -0.06%
- 1M
- 0.71%
- YTD
- 1.83%
- 6M
- 2.29%
- 1Y
- 6.71%
- 3Y*
- 3.67%
- 5Y*
- 0.80%
- 10Y*
- —
ROBT
- 1D
- 0.19%
- 1M
- 11.90%
- YTD
- 14.43%
- 6M
- 10.78%
- 1Y
- 30.07%
- 3Y*
- 10.07%
- 5Y*
- 2.42%
- 10Y*
- —
FCAL vs. ROBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 1.83% | 3.19% | 1.90% | 6.08% | -9.50% | 3.26% | 3.51% | 9.32% | 3.27% |
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF | 14.43% | 15.16% | -0.41% | 27.77% | -34.94% | 9.91% | 46.18% | 34.28% | -13.98% |
Correlation
The correlation between FCAL and ROBT is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 23, 2018 | 0.04 |
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Return for Risk
FCAL vs. ROBT — Risk / Return Rank
FCAL
ROBT
FCAL vs. ROBT - 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 Artificial Intelligence & Robotics ETF (ROBT). 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 | ROBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.20 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.22 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 1.39 | +1.22 |
| Martin ratioReturn relative to average drawdown | 9.82 | 4.01 | +5.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCAL | ROBT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 1.30 | +1.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.10 | +0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.35 | +0.15 |
Drawdowns
FCAL vs. ROBT - Drawdown Comparison
The maximum FCAL drawdown since its inception was -14.81%, smaller than the maximum ROBT drawdown of -44.47%. Use the drawdown chart below to compare losses from any high point for FCAL and ROBT.
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Drawdown Indicators
| FCAL | ROBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.81% | -44.47% | +29.66% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -21.66% | +19.09% |
Max Drawdown (3Y)Largest decline over 3 years | -5.46% | -27.68% | +22.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.44% | -43.26% | +28.82% |
Current DrawdownCurrent decline from peak | -0.30% | -1.54% | +1.24% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -15.96% | +12.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 7.53% | -6.84% |
Volatility
FCAL vs. ROBT - Volatility Comparison
The current volatility for First Trust California Municipal High Income ETF (FCAL) is 0.96%, while First Trust Nasdaq Artificial Intelligence & Robotics ETF (ROBT) has a volatility of 6.42%. This indicates that FCAL experiences smaller price fluctuations and is considered to be less risky than ROBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCAL | ROBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 6.42% | -5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.12% | 17.51% | -15.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.72% | 23.30% | -20.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.25% | 25.17% | -20.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.25% | 25.47% | -20.22% |
FCAL vs. ROBT - Expense Ratio Comparison
FCAL has a 0.50% expense ratio, which is lower than ROBT's 0.65% expense ratio.
Dividends
FCAL vs. ROBT - Dividend Comparison
FCAL's dividend yield for the trailing twelve months is around 3.33%, while ROBT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FCAL First Trust California Municipal High Income ETF | 3.33% | 3.22% | 2.99% | 2.74% | 2.38% | 2.03% | 2.11% | 2.68% | 2.99% | 1.30% |
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF | 0.00% | 0.00% | 0.68% | 0.23% | 0.35% | 0.06% | 0.17% | 0.42% | 0.44% | 0.00% |
Frequently Asked Questions
FCAL and ROBT have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ROBT has higher volatility (6.42%) compared to FCAL (0.96%). In terms of maximum drawdown, FCAL dropped -14.81% vs ROBT's -44.47%.
On 5-year performance, ROBT leads with 2.42% vs 0.80% for FCAL. On fees, FCAL is cheaper at 0.50% per year. On volatility, FCAL has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ROBT has performed better with a 2.42% return vs 0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCAL is cheaper with a 0.50% expense ratio, compared with 0.65% for ROBT.
FCAL has the higher dividend yield at 3.33%, compared with 0.00% for ROBT.
FCAL is categorized as Municipal Bonds, while ROBT is Technology Equities. Their fees differ too: 0.50% for FCAL and 0.65% for ROBT.
FCAL currently has the higher Sharpe Ratio (2.49 vs 1.30), 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.
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