FCEF vs. CIBR
FCEF (First Trust CEF Income Opportunity ETF) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - FCEF is a Diversified Portfolio fund actively managed by First Trust, while CIBR is a Cybersecurity fund tracking the Nasdaq CTA Cybersecurity Index. FCEF is actively managed, while CIBR is passively managed. Over the past 5 years, FCEF returned 6.01%/yr vs 14.60%/yr for CIBR. A 0.57 correlation means they provide meaningful diversification when combined. FCEF charges 2.91%/yr vs 0.60%/yr for CIBR.
Performance
FCEF vs. CIBR - Performance Comparison
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Returns By Period
In the year-to-date period, FCEF achieves a 8.09% return, which is significantly lower than CIBR's 28.87% return.
FCEF
- 1D
- -0.48%
- 1M
- 1.54%
- 6M
- 6.54%
- YTD
- 8.09%
- 1Y
- 14.08%
- 3Y*
- 15.06%
- 5Y*
- 6.01%
- 10Y*
- —
CIBR
- 1D
- -0.04%
- 1M
- 7.72%
- 6M
- 26.20%
- YTD
- 28.87%
- 1Y
- 27.22%
- 3Y*
- 26.81%
- 5Y*
- 14.60%
- 10Y*
- 18.39%
FCEF vs. CIBR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 8.09% | 14.39% | 17.51% | 10.27% | -19.51% | 19.50% | 3.80% | 28.28% | -9.65% | 15.72% |
CIBR First Trust NASDAQ Cybersecurity ETF | 28.87% | 13.06% | 18.21% | 39.71% | -26.46% | 19.67% | 50.53% | 28.52% | 1.47% | 18.61% |
Correlation
The correlation between FCEF and CIBR is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016 | 0.57 |
Over the past year, the correlation between FCEF and CIBR has dropped to 0.37 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.
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Return for Risk
FCEF vs. CIBR — Risk / Return Rank
FCEF
CIBR
FCEF vs. CIBR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust CEF Income Opportunity ETF (FCEF) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.
| FCEF | CIBR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.20 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.24 | +0.77 |
| Martin ratioReturn relative to average drawdown | 8.90 | 2.88 | +6.02 |
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Drawdowns
FCEF vs. CIBR - Drawdown Comparison
The maximum FCEF drawdown since its inception was -44.81%, which is greater than CIBR's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for FCEF and CIBR.
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Drawdown Indicators
| FCEF | CIBR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.81% | -33.89% | -10.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -21.99% | +14.96% |
Max Drawdown (3Y)Largest decline over 3 years | -12.39% | -21.99% | +9.60% |
Max Drawdown (5Y)Largest decline over 5 years | -25.32% | -33.89% | +8.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.89% | — |
Current DrawdownCurrent decline from peak | -0.48% | -2.57% | +2.09% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -8.64% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 9.47% | -7.89% |
Volatility
FCEF vs. CIBR - Volatility Comparison
The current volatility for First Trust CEF Income Opportunity ETF (FCEF) is 2.12%, while First Trust NASDAQ Cybersecurity ETF (CIBR) has a volatility of 7.35%. This indicates that FCEF experiences smaller price fluctuations and is considered to be less risky than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCEF | CIBR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 7.35% | -5.23% |
Volatility (6M)Calculated over the trailing 6-month period | 6.47% | 22.17% | -15.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.78% | 25.55% | -17.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.17% | 25.21% | -13.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.35% | 23.59% | -8.24% |
FCEF vs. CIBR - Expense Ratio Comparison
FCEF has a 2.91% expense ratio, which is higher than CIBR's 0.60% expense ratio.
Dividends
FCEF vs. CIBR - Dividend Comparison
FCEF's dividend yield for the trailing twelve months is around 6.24%, more than CIBR's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIBR First Trust NASDAQ Cybersecurity ETF | 0.43% | 0.42% | 0.29% | 0.42% | 0.31% | 0.59% | 1.10% | 0.23% | 0.23% | 0.10% | 0.77% | 0.58% |
FCEF First Trust CEF Income Opportunity ETF | 6.24% | 7.05% | 7.13% | 7.17% | 7.26% | 4.74% | 5.03% | 5.07% | 5.96% | 4.90% | 1.51% | 0.00% |
Frequently Asked Questions
FCEF and CIBR have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CIBR has higher volatility (7.35%) compared to FCEF (2.12%). In terms of maximum drawdown, FCEF dropped -44.81% vs CIBR's -33.89%.
On 5-year performance, CIBR leads with 14.60% vs 6.01% for FCEF. On fees, CIBR is cheaper at 0.60% per year. On volatility, FCEF has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CIBR has performed better with a 14.60% return vs 6.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CIBR is cheaper with a 0.60% expense ratio, compared with 2.91% for FCEF.
FCEF has the higher dividend yield at 6.24%, compared with 0.43% for CIBR.
FCEF is categorized as Diversified Portfolio, while CIBR is Cybersecurity. Their fees differ too: 2.91% for FCEF and 0.60% for CIBR.
FCEF currently has the higher Sharpe Ratio (1.82 vs 1.07), 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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