FCEF vs. THRV

Last updated Jun 4, 2026

FCEF (First Trust CEF Income Opportunity ETF) and THRV (Prospera Income ETF) are both Diversified Portfolio funds. Both are actively managed. A 0.64 correlation means they provide meaningful diversification when combined. FCEF charges 2.91%/yr vs 1.80%/yr for THRV.

Performance

FCEF vs. THRV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust CEF Income Opportunity ETF (FCEF) and Prospera Income ETF (THRV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEF achieves a 6.40% return, which is significantly higher than THRV's 2.25% return.

FCEF

• 1D: -0.58%
• 1M: 0.80%
• YTD: 6.40%
• 6M: 7.10%
• 1Y: 16.10%
• 3Y*: 15.70%
• 5Y*: 5.84%
• 10Y*: —

THRV

• 1D: 0.07%
• 1M: 0.43%
• YTD: 2.25%
• 6M: 2.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCEF vs. THRV - Yearly Performance Comparison

	2026 (YTD)	2025
FCEF First Trust CEF Income Opportunity ETF	6.40%	2.19%
THRV Prospera Income ETF	2.25%	0.16%

Correlation

The correlation between FCEF and THRV is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.64

Return for Risk

FCEF vs. THRV — Risk / Return Rank

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

FCEF

FCEF Risk / Return Rank: 59
FCEF Sharpe Ratio Rank: 62
FCEF Sortino Ratio Rank: 61
FCEF Omega Ratio Rank: 65
FCEF Calmar Ratio Rank: 46
FCEF Martin Ratio Rank: 59

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.

FCEF vs. THRV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust CEF Income Opportunity ETF (FCEF) and Prospera Income ETF (THRV). 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.

	FCEF	THRV	Difference
Sharpe ratio Return per unit of total volatility	2.09	—	—
Sortino ratio Return per unit of downside risk	2.90	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	2.30	—	—
Martin ratio Return relative to average drawdown	10.40	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FCEF	THRV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.09	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.26	-0.73

Drawdowns

FCEF vs. THRV - Drawdown Comparison

The maximum FCEF drawdown since its inception was -44.81%, which is greater than THRV's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for FCEF and THRV.

Drawdown Indicators

	FCEF	THRV	Difference
Max Drawdown Largest peak-to-trough decline	-44.81%	-1.50%	-43.31%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.32%	—	—
Current Drawdown Current decline from peak	-1.13%	-0.13%	-1.00%
Average Drawdown Average peak-to-trough decline	-6.28%	-0.44%	-5.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	—	—

Volatility

Volatility by Period

	FCEF	THRV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.75%	2.89%	+4.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.19%	2.89%	+9.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.42%	2.89%	+12.53%

FCEF vs. THRV - Expense Ratio Comparison

FCEF has a 2.91% expense ratio, which is higher than THRV's 1.80% expense ratio.

Dividends

FCEF vs. THRV - Dividend Comparison

FCEF's dividend yield for the trailing twelve months is around 6.86%, more than THRV's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FCEF First Trust CEF Income Opportunity ETF	6.86%	7.05%	7.13%	7.17%	7.26%	4.74%	5.03%	5.07%	5.96%	4.90%	1.51%
THRV Prospera Income ETF	4.69%	1.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCEF and THRV in my portfolio?

FCEF and THRV have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FCEF or THRV?

On fees, THRV is cheaper at 1.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCEF or THRV?

THRV is cheaper with a 1.80% expense ratio, compared with 2.91% for FCEF.

Which ETF pays a higher dividend yield, FCEF or THRV?

FCEF has the higher dividend yield at 6.86%, compared with 4.69% for THRV.

What is the main difference between FCEF and THRV?

They also come from different issuers: First Trust and Prospera Funds. Their fees differ too: 2.91% for FCEF and 1.80% for THRV.