FCEF vs. RDVY
FCEF (First Trust CEF Income Opportunity ETF) and RDVY (First Trust Rising Dividend Achievers ETF) are both exchange-traded funds - FCEF is a Diversified Portfolio fund actively managed by First Trust, while RDVY is a Dividend fund tracking the Nasdaq US Rising Dividend Achievers Index. FCEF is actively managed, while RDVY is passively managed. Over the past 5 years, FCEF returned 6.04%/yr vs 12.89%/yr for RDVY. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FCEF charges 2.91%/yr vs 0.47%/yr for RDVY.
Performance
FCEF vs. RDVY - Performance Comparison
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Returns By Period
In the year-to-date period, FCEF achieves a 7.77% return, which is significantly lower than RDVY's 17.25% return.
FCEF
- 1D
- 0.24%
- 1M
- -0.30%
- 6M
- 4.68%
- YTD
- 7.77%
- 1Y
- 14.04%
- 3Y*
- 14.33%
- 5Y*
- 6.04%
- 10Y*
- —
- ALL TIME*
- 8.11%
RDVY
- 1D
- 0.36%
- 1M
- 1.19%
- 6M
- 12.71%
- YTD
- 17.25%
- 1Y
- 30.74%
- 3Y*
- 19.76%
- 5Y*
- 12.89%
- 10Y*
- 16.25%
- ALL TIME*
- 13.76%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $305.67K | $550.92K | $440.65K | |
| $77.65M | $79.19M | $83.63M |
FCEF vs. RDVY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 7.77% | 14.39% | 17.51% | 10.27% | -19.51% | 19.50% | 3.80% | 28.28% | -9.65% | 15.72% |
RDVY First Trust Rising Dividend Achievers ETF | 17.25% | 18.90% | 16.41% | 20.38% | -13.27% | 31.14% | 13.47% | 37.71% | -9.92% | 22.75% |
Correlation
The correlation between FCEF and RDVY is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2016 | 0.69 |
The correlation between FCEF and RDVY has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
FCEF vs. RDVY — Risk / Return Rank
FCEF
RDVY
FCEF vs. RDVY - 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 Rising Dividend Achievers ETF (RDVY). 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 | RDVY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 3.25 | -1.37 |
| Martin ratioReturn relative to average drawdown | 8.25 | 13.63 | -5.38 |
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Drawdowns
FCEF vs. RDVY - Drawdown Comparison
The maximum FCEF drawdown since its inception was -44.81%, which is greater than RDVY's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for FCEF and RDVY.
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Drawdown Indicators
| FCEF | RDVY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.81% | -40.60% | -4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -9.04% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.39% | -19.11% | +6.72% |
Max Drawdown (5Y)Largest decline over 5 years | -25.32% | -25.32% | 0.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.60% | — |
Current DrawdownCurrent decline from peak | -0.77% | 0.00% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -6.19% | -4.95% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.60% | 2.15% | -0.55% |
Volatility
FCEF vs. RDVY - Volatility Comparison
The current volatility for First Trust CEF Income Opportunity ETF (FCEF) is 1.72%, while First Trust Rising Dividend Achievers ETF (RDVY) has a volatility of 3.53%. This indicates that FCEF experiences smaller price fluctuations and is considered to be less risky than RDVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCEF | RDVY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.72% | 3.53% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 6.42% | 11.46% | -5.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.87% | 14.65% | -6.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.12% | 18.92% | -6.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.32% | 21.03% | -5.71% |
FCEF vs. RDVY - Expense Ratio Comparison
FCEF has a 2.91% expense ratio, which is higher than RDVY's 0.47% expense ratio.
Dividends
FCEF vs. RDVY - Dividend Comparison
FCEF's dividend yield for the trailing twelve months is around 6.87%, more than RDVY's 0.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 6.87% | 7.05% | 7.13% | 7.17% | 7.26% | 4.74% | 5.03% | 5.07% | 5.96% | 4.90% | 1.51% | 0.00% |
RDVY First Trust Rising Dividend Achievers ETF | 0.83% | 1.11% | 1.64% | 2.09% | 2.21% | 1.04% | 1.53% | 1.55% | 1.68% | 1.25% | 2.07% | 2.14% |
Frequently Asked Questions
FCEF and RDVY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RDVY has higher volatility (3.53%) compared to FCEF (1.72%). In terms of maximum drawdown, FCEF dropped -44.81% vs RDVY's -40.60%.
On 5-year performance, RDVY leads with 12.89% vs 6.04% for FCEF. On fees, RDVY is cheaper at 0.47% per year. On volatility, FCEF has been the lower-risk option at 1.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, RDVY has performed better with a 12.89% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RDVY is cheaper with a 0.47% expense ratio, compared with 2.91% for FCEF.
FCEF has the higher dividend yield at 6.87%, compared with 0.83% for RDVY.
FCEF is categorized as Diversified Portfolio, while RDVY is Dividend. Their fees differ too: 2.91% for FCEF and 0.47% for RDVY.
RDVY currently has the higher Sharpe Ratio (2.00 vs 1.68), 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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