FCFY vs. USFR
FCFY (First Trust S&P 500 Diversified Free Cash Flow ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - FCFY is a Large Cap Value Equities fund tracking the S&P 500 Sector-Neutral FCF Index - Benchmark TR Gross, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past year, FCFY returned 13.16% vs 3.97% for USFR. At a correlation of -0.02, they often move in opposite directions. FCFY charges 0.60%/yr vs 0.15%/yr for USFR.
Performance
FCFY vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, FCFY achieves a -2.44% return, which is significantly lower than USFR's 1.78% return.
FCFY
- 1D
- 0.03%
- 1M
- -3.87%
- YTD
- -2.44%
- 6M
- -3.70%
- 1Y
- 13.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USFR
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.78%
- 6M
- 1.89%
- 1Y
- 3.97%
- 3Y*
- 4.72%
- 5Y*
- 3.70%
- 10Y*
- 2.43%
FCFY vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF | -2.44% | 16.76% | 11.28% | 11.06% |
USFR WisdomTree Floating Rate Treasury Fund | 1.78% | 4.23% | 5.47% | 1.74% |
Correlation
The correlation between FCFY and USFR is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2023 | -0.02 |
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Return for Risk
FCFY vs. USFR — Risk / Return Rank
FCFY
USFR
FCFY vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| FCFY | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.84 | ||
| Sortino ratioReturn per unit of downside risk | -48.63 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 13.24 | -12.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.11 | 200.29 | -199.19 |
| Martin ratioReturn relative to average drawdown | 2.87 | 775.73 | -772.87 |
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Drawdowns
FCFY vs. USFR - Drawdown Comparison
The maximum FCFY drawdown since its inception was -21.36%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for FCFY and USFR.
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Drawdown Indicators
| FCFY | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.36% | -1.36% | -20.00% |
Max Drawdown (1Y)Largest decline over 1 year | -11.94% | -0.02% | -11.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.06% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.18% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -7.42% | 0.00% | -7.42% |
Average DrawdownAverage peak-to-trough decline | -3.52% | -0.15% | -3.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.60% | 0.01% | +4.59% |
Volatility
FCFY vs. USFR - Volatility Comparison
First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) has a higher volatility of 5.48% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that FCFY's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCFY | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.48% | 0.08% | +5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.57% | 0.19% | +11.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.36% | 0.27% | +16.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.53% | 0.40% | +17.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.53% | 0.78% | +16.75% |
FCFY vs. USFR - Expense Ratio Comparison
FCFY has a 0.60% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
FCFY vs. USFR - Dividend Comparison
FCFY's dividend yield for the trailing twelve months is around 1.51%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF | 1.51% | 1.48% | 1.76% | 0.73% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
FCFY and USFR have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCFY has higher volatility (5.48%) compared to USFR (0.08%). In terms of maximum drawdown, FCFY dropped -21.36% vs USFR's -1.36%.
On 1-year performance, FCFY leads with 13.16% vs 3.97% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FCFY has performed better with a 13.16% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.60% for FCFY.
USFR has the higher dividend yield at 3.91%, compared with 1.51% for FCFY.
FCFY is categorized as Large Cap Value Equities, while USFR is Government Bonds. FCFY tracks S&P 500 Sector-Neutral FCF Index - Benchmark TR Gross, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.60% for FCFY and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.65 vs 0.81), 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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