FCEF vs. XMPT
Compare and contrast key facts about First Trust CEF Income Opportunity ETF (FCEF) and VanEck CEF Municipal Income ETF (XMPT).
FCEF and XMPT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCEF is an actively managed fund by First Trust. It was launched on Sep 27, 2016. XMPT is a passively managed fund by VanEck that tracks the performance of the S-Network Municipal Bond Closed-End Fund Index. It was launched on Jul 12, 2011.
Performance
FCEF vs. XMPT - Performance Comparison
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FCEF vs. XMPT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | -0.30% | 14.39% | 17.51% | 10.27% | -19.51% | 19.50% | 3.80% | 28.28% | -9.65% | 15.72% |
XMPT VanEck CEF Municipal Income ETF | -0.80% | 8.01% | 7.01% | 2.55% | -24.02% | 7.94% | 7.70% | 20.36% | -5.85% | 8.28% |
Returns By Period
In the year-to-date period, FCEF achieves a -0.30% return, which is significantly higher than XMPT's -0.80% return.
FCEF
- 1D
- 2.15%
- 1M
- -4.71%
- YTD
- -0.30%
- 6M
- 1.89%
- 1Y
- 11.54%
- 3Y*
- 13.19%
- 5Y*
- 5.66%
- 10Y*
- —
XMPT
- 1D
- 2.14%
- 1M
- -4.42%
- YTD
- -0.80%
- 6M
- 1.08%
- 1Y
- 5.47%
- 3Y*
- 4.95%
- 5Y*
- -0.99%
- 10Y*
- 2.06%
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FCEF vs. XMPT - Expense Ratio Comparison
FCEF has a 2.91% expense ratio, which is higher than XMPT's 1.97% expense ratio.
Return for Risk
FCEF vs. XMPT — Risk / Return Rank
FCEF
XMPT
FCEF vs. XMPT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust CEF Income Opportunity ETF (FCEF) and VanEck CEF Municipal Income ETF (XMPT). 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 | XMPT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.65 | +0.27 |
Sortino ratioReturn per unit of downside risk | 1.26 | 0.90 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.14 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.11 | 0.91 | +0.19 |
Martin ratioReturn relative to average drawdown | 5.37 | 2.76 | +2.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCEF | XMPT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.65 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | -0.11 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.20 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.40 | +0.09 |
Correlation
The correlation between FCEF and XMPT is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FCEF vs. XMPT - Dividend Comparison
FCEF's dividend yield for the trailing twelve months is around 7.21%, more than XMPT's 5.92% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCEF First Trust CEF Income Opportunity ETF | 7.21% | 7.05% | 7.13% | 7.17% | 7.26% | 4.74% | 5.03% | 5.07% | 5.96% | 4.90% | 1.51% | 0.00% |
XMPT VanEck CEF Municipal Income ETF | 5.92% | 5.87% | 5.35% | 3.81% | 5.12% | 3.74% | 3.79% | 4.08% | 5.05% | 4.84% | 5.35% | 5.24% |
Drawdowns
FCEF vs. XMPT - Drawdown Comparison
The maximum FCEF drawdown since its inception was -44.81%, which is greater than XMPT's maximum drawdown of -35.24%. Use the drawdown chart below to compare losses from any high point for FCEF and XMPT.
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Drawdown Indicators
| FCEF | XMPT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.81% | -35.24% | -9.57% |
Max Drawdown (1Y)Largest decline over 1 year | -10.61% | -6.64% | -3.97% |
Max Drawdown (5Y)Largest decline over 5 years | -25.32% | -35.24% | +9.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.24% | — |
Current DrawdownCurrent decline from peak | -5.03% | -11.73% | +6.70% |
Average DrawdownAverage peak-to-trough decline | -6.38% | -8.81% | +2.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 2.20% | -0.01% |
Volatility
FCEF vs. XMPT - Volatility Comparison
First Trust CEF Income Opportunity ETF (FCEF) has a higher volatility of 4.35% compared to VanEck CEF Municipal Income ETF (XMPT) at 3.90%. This indicates that FCEF's price experiences larger fluctuations and is considered to be riskier than XMPT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCEF | XMPT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.35% | 3.90% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | 5.12% | +1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 8.46% | +4.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.21% | 9.24% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.52% | 10.33% | +5.19% |