FCEF vs. TUGN

Last updated Jun 24, 2026

FCEF (First Trust CEF Income Opportunity ETF) and TUGN (STF Tactical Growth & Income ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 3 years, FCEF returned 15.43%/yr vs 20.91%/yr for TUGN. A 0.58 correlation means they provide meaningful diversification when combined. FCEF charges 2.91%/yr vs 0.65%/yr for TUGN.

Performance

FCEF vs. TUGN - Performance Comparison

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

Returns By Period

In the year-to-date period, FCEF achieves a 6.36% return, which is significantly lower than TUGN's 15.79% return.

FCEF

• 1D: -0.25%
• 1M: 0.08%
• YTD: 6.36%
• 6M: 7.05%
• 1Y: 15.24%
• 3Y*: 15.43%
• 5Y*: 5.67%
• 10Y*: —

TUGN

• 1D: -1.93%
• 1M: 0.55%
• YTD: 15.79%
• 6M: 14.77%
• 1Y: 31.29%
• 3Y*: 20.91%
• 5Y*: —
• 10Y*: —

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

FCEF vs. TUGN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCEF First Trust CEF Income Opportunity ETF	6.36%	14.39%	17.51%	10.27%	-2.30%
TUGN STF Tactical Growth & Income ETF	15.79%	19.11%	18.44%	34.84%	-18.78%

Correlation

The correlation between FCEF and TUGN 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 (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 19, 2022	0.58

The correlation between FCEF and TUGN has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Return for Risk

FCEF vs. TUGN — Risk / Return Rank

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

FCEF

FCEF Risk / Return Rank: 60
FCEF Sharpe Ratio Rank: 64
FCEF Sortino Ratio Rank: 63
FCEF Omega Ratio Rank: 67
FCEF Calmar Ratio Rank: 47
FCEF Martin Ratio Rank: 58

TUGN

TUGN Risk / Return Rank: 55
TUGN Sharpe Ratio Rank: 59
TUGN Sortino Ratio Rank: 55
TUGN Omega Ratio Rank: 59
TUGN Calmar Ratio Rank: 52
TUGN Martin Ratio Rank: 51

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. TUGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust CEF Income Opportunity ETF (FCEF) and STF Tactical Growth & Income ETF (TUGN). 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	TUGN	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.87	+0.09
Sortino ratio: Return per unit of downside risk	2.73	2.48	+0.25
Omega ratio: Gain probability vs. loss probability	1.37	1.34	+0.03
Calmar ratio: Return relative to maximum drawdown	2.18	2.43	-0.25
Martin ratio: Return relative to average drawdown	9.66	8.24	+1.41

FCEF vs. TUGN - Sharpe Ratio Comparison

The current FCEF Sharpe Ratio is 1.97, which is comparable to the TUGN Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FCEF and TUGN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FCEF vs. TUGN - Drawdown Comparison

The maximum FCEF drawdown since its inception was -44.81%, which is greater than TUGN's maximum drawdown of -23.45%. Use the drawdown chart below to compare losses from any high point for FCEF and TUGN.

Drawdown Indicators

	FCEF	TUGN	Difference
Max Drawdown Largest peak-to-trough decline	-44.81%	-23.45%	-21.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-12.96%	+5.93%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	-21.60%	+9.21%
Max Drawdown (5Y) Largest decline over 5 years	-25.32%	—	—
Current Drawdown Current decline from peak	-1.17%	-3.27%	+2.10%
Average Drawdown Average peak-to-trough decline	-6.25%	-6.38%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	3.80%	-2.22%

Volatility

FCEF vs. TUGN - Volatility Comparison

The current volatility for First Trust CEF Income Opportunity ETF (FCEF) is 2.31%, while STF Tactical Growth & Income ETF (TUGN) has a volatility of 8.01%. This indicates that FCEF experiences smaller price fluctuations and is considered to be less risky than TUGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEF	TUGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	8.01%	-5.70%
Volatility (6M) Calculated over the trailing 6-month period	6.37%	13.65%	-7.28%
Volatility (1Y) Calculated over the trailing 1-year period	7.81%	16.81%	-9.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.20%	17.32%	-5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.39%	17.32%	-1.93%

FCEF vs. TUGN - Expense Ratio Comparison

FCEF has a 2.91% expense ratio, which is higher than TUGN's 0.65% expense ratio.

Dividends

FCEF vs. TUGN - Dividend Comparison

FCEF's dividend yield for the trailing twelve months is around 6.91%, less than TUGN's 10.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
TUGN STF Tactical Growth & Income ETF	10.82%	11.50%	11.84%	10.83%	7.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCEF and TUGN in my portfolio?

FCEF and TUGN 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 is riskier, FCEF or TUGN?

TUGN has higher volatility (8.01%) compared to FCEF (2.31%). In terms of maximum drawdown, FCEF dropped -44.81% vs TUGN's -23.45%.

Which ETF is better, FCEF or TUGN?

On 3-year performance, TUGN leads with 20.91% vs 15.43% for FCEF. On fees, TUGN is cheaper at 0.65% 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.

Which ETF has performed better, FCEF or TUGN?

Over the 3-year period, TUGN has performed better with a 20.91% return vs 15.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCEF or TUGN?

TUGN is cheaper with a 0.65% expense ratio, compared with 2.91% for FCEF.

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

TUGN has the higher dividend yield at 10.82%, compared with 6.91% for FCEF.

What is the main difference between FCEF and TUGN?

They also come from different issuers: First Trust and STF. Their fees differ too: 2.91% for FCEF and 0.65% for TUGN.

Which has better risk-adjusted returns?

FCEF currently has the higher Sharpe Ratio (1.97 vs 1.87), 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.