FCEF vs. NFTY
FCEF (First Trust CEF Income Opportunity ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both exchange-traded funds - FCEF is a Diversified Portfolio fund actively managed by First Trust, while NFTY is a Asia Pacific Equities fund tracking the NIFTY 50 Equal Weight Index. FCEF is actively managed, while NFTY is passively managed. Over the past 5 years, FCEF returned 5.67%/yr vs 5.79%/yr for NFTY. At a 0.36 correlation, their price movements are largely independent. FCEF charges 2.91%/yr vs 0.80%/yr for NFTY.
Performance
FCEF vs. NFTY - Performance Comparison
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Returns By Period
In the year-to-date period, FCEF achieves a 6.36% return, which is significantly higher than NFTY's -7.30% return.
FCEF
- 1D
- -0.25%
- 1M
- 0.08%
- YTD
- 6.36%
- 6M
- 7.05%
- 1Y
- 15.24%
- 3Y*
- 15.43%
- 5Y*
- 5.67%
- 10Y*
- —
NFTY
- 1D
- -1.31%
- 1M
- 1.01%
- YTD
- -7.30%
- 6M
- -7.62%
- 1Y
- -6.58%
- 3Y*
- 6.30%
- 5Y*
- 5.79%
- 10Y*
- 8.36%
FCEF vs. NFTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 6.36% | 14.39% | 17.51% | 10.27% | -19.51% | 19.50% | 3.80% | 28.28% | -9.65% | 15.72% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | -7.30% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -1.51% | 21.78% |
Correlation
The correlation between FCEF and NFTY is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016 | 0.36 |
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Return for Risk
FCEF vs. NFTY — Risk / Return Rank
FCEF
NFTY
FCEF vs. NFTY - 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 India NIFTY 50 Equal Weight ETF (NFTY). 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 | NFTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.42 | ||
| Sortino ratioReturn per unit of downside risk | +3.31 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.94 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.41 | +2.59 |
| Martin ratioReturn relative to average drawdown | 9.66 | -1.01 | +10.66 |
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Drawdowns
FCEF vs. NFTY - Drawdown Comparison
The maximum FCEF drawdown since its inception was -44.81%, smaller than the maximum NFTY drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for FCEF and NFTY.
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Drawdown Indicators
| FCEF | NFTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.81% | -47.67% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -16.14% | +9.11% |
Max Drawdown (3Y)Largest decline over 3 years | -12.39% | -21.55% | +9.16% |
Max Drawdown (5Y)Largest decline over 5 years | -25.32% | -21.55% | -3.77% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.67% | — |
Current DrawdownCurrent decline from peak | -1.17% | -15.26% | +14.09% |
Average DrawdownAverage peak-to-trough decline | -6.25% | -9.60% | +3.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.58% | 6.56% | -4.98% |
Volatility
FCEF vs. NFTY - Volatility Comparison
The current volatility for First Trust CEF Income Opportunity ETF (FCEF) is 2.31%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 4.23%. This indicates that FCEF experiences smaller price fluctuations and is considered to be less risky than NFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCEF | NFTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 4.23% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 6.37% | 12.75% | -6.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.81% | 14.75% | -6.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.20% | 17.41% | -5.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.39% | 20.72% | -5.33% |
FCEF vs. NFTY - Expense Ratio Comparison
FCEF has a 2.91% expense ratio, which is higher than NFTY's 0.80% expense ratio.
Dividends
FCEF vs. NFTY - Dividend Comparison
FCEF's dividend yield for the trailing twelve months is around 6.91%, more than NFTY's 1.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 6.91% | 7.05% | 7.13% | 7.17% | 7.26% | 4.74% | 5.03% | 5.07% | 5.96% | 4.90% | 1.51% | 0.00% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.91% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
FCEF and NFTY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFTY has higher volatility (4.23%) compared to FCEF (2.31%). In terms of maximum drawdown, FCEF dropped -44.81% vs NFTY's -47.67%.
On 5-year performance, NFTY leads with 5.79% vs 5.67% for FCEF. On fees, NFTY is cheaper at 0.80% per year. On volatility, FCEF has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NFTY has performed better with a 5.79% return vs 5.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFTY is cheaper with a 0.80% expense ratio, compared with 2.91% for FCEF.
FCEF has the higher dividend yield at 6.91%, compared with 1.91% for NFTY.
FCEF is categorized as Diversified Portfolio, while NFTY is Asia Pacific Equities. Their fees differ too: 2.91% for FCEF and 0.80% for NFTY.
FCEF currently has the higher Sharpe Ratio (1.97 vs -0.45), 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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