FCAL vs. TRUT

Last updated Jun 25, 2026

FCAL (First Trust California Municipal High Income ETF) and TRUT (Vaneck Technology Trusector ETF) are both exchange-traded funds - FCAL is a Municipal Bonds fund actively managed by First Trust, while TRUT is a Technology Equities fund actively managed by VanEck. Both are actively managed. At a 0.14 correlation, their price movements are largely independent. FCAL charges 0.50%/yr vs 0.13%/yr for TRUT.

Performance

FCAL vs. TRUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust California Municipal High Income ETF (FCAL) and Vaneck Technology Trusector ETF (TRUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCAL achieves a 2.15% return, which is significantly lower than TRUT's 15.16% return.

FCAL

• 1D: 0.12%
• 1M: 1.53%
• YTD: 2.15%
• 6M: 2.27%
• 1Y: 6.97%
• 3Y*: 3.50%
• 5Y*: 0.73%
• 10Y*: —

TRUT

• 1D: -0.84%
• 1M: -2.14%
• YTD: 15.16%
• 6M: 13.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCAL vs. TRUT - Yearly Performance Comparison

	2026 (YTD)	2025
FCAL First Trust California Municipal High Income ETF	2.15%	4.69%
TRUT Vaneck Technology Trusector ETF	15.16%	9.76%

Correlation

The correlation between FCAL and TRUT is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 21, 2025	0.14

Return for Risk

FCAL vs. TRUT — Risk / Return Rank

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

FCAL

FCAL Risk / Return Rank: 80
FCAL Sharpe Ratio Rank: 89
FCAL Sortino Ratio Rank: 92
FCAL Omega Ratio Rank: 94
FCAL Calmar Ratio Rank: 62
FCAL Martin Ratio Rank: 64

TRUT

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

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.

FCAL vs. TRUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust California Municipal High Income ETF (FCAL) and Vaneck Technology Trusector ETF (TRUT). 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.

	FCAL	TRUT	Difference
Sharpe ratio: Return per unit of total volatility	2.62	—	—
Sortino ratio: Return per unit of downside risk	3.88	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	2.72	—	—
Martin ratio: Return relative to average drawdown	10.17	—	—

Drawdowns

FCAL vs. TRUT - Drawdown Comparison

The maximum FCAL drawdown since its inception was -14.81%, smaller than the maximum TRUT drawdown of -18.55%. Use the drawdown chart below to compare losses from any high point for FCAL and TRUT.

Drawdown Indicators

	FCAL	TRUT	Difference
Max Drawdown Largest peak-to-trough decline	-14.81%	-18.55%	+3.74%
Max Drawdown (1Y) Largest decline over 1 year	-2.57%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.44%	—	—
Current Drawdown Current decline from peak	0.00%	-9.44%	+9.44%
Average Drawdown Average peak-to-trough decline	-3.33%	-5.29%	+1.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	—	—

Volatility

Volatility by Period

	FCAL	TRUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.67%	23.17%	-20.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.24%	23.17%	-18.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	23.17%	-17.94%

FCAL vs. TRUT - Expense Ratio Comparison

FCAL has a 0.50% expense ratio, which is higher than TRUT's 0.13% expense ratio.

Dividends

FCAL vs. TRUT - Dividend Comparison

FCAL's dividend yield for the trailing twelve months is around 3.32%, more than TRUT's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
TRUT Vaneck Technology Trusector ETF	0.20%	0.14%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCAL and TRUT in my portfolio?

FCAL and TRUT have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCAL or TRUT?

On fees, TRUT is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCAL or TRUT?

TRUT is cheaper with a 0.13% expense ratio, compared with 0.50% for FCAL.

Which ETF pays a higher dividend yield, FCAL or TRUT?

FCAL has the higher dividend yield at 3.32%, compared with 0.20% for TRUT.

What is the main difference between FCAL and TRUT?

FCAL is categorized as Municipal Bonds, while TRUT is Technology Equities. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.50% for FCAL and 0.13% for TRUT.