FCG vs. NWN

Last updated Jun 24, 2026

FCG (First Trust Natural Gas ETF) is Energy Equities fund tracking the ISE-Revere Natural Gas Index, while NWN (Northwest Natural Holding Company) is a stock. Over the past 10 years, FCG returned 3.91%/yr vs 1.63%/yr for NWN. At a 0.24 correlation, their price movements are largely independent.

Performance

FCG vs. NWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Natural Gas ETF (FCG) and Northwest Natural Holding Company (NWN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCG achieves a 17.54% return, which is significantly higher than NWN's 8.92% return. Over the past 10 years, FCG has outperformed NWN with an annualized return of 3.91%, while NWN has yielded a comparatively lower 1.63% annualized return.

FCG

• 1D: 0.26%
• 1M: -9.72%
• YTD: 17.54%
• 6M: 17.54%
• 1Y: 16.99%
• 3Y*: 10.20%
• 5Y*: 13.77%
• 10Y*: 3.91%

NWN

• 1D: 2.48%
• 1M: -0.04%
• YTD: 8.92%
• 6M: 8.53%
• 1Y: 28.20%
• 3Y*: 10.96%
• 5Y*: 3.63%
• 10Y*: 1.63%

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

FCG vs. NWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCG First Trust Natural Gas ETF	17.54%	-2.28%	4.16%	2.55%	47.24%	98.49%	-23.20%	-15.76%	-34.81%	-11.38%
NWN Northwest Natural Holding Company	8.92%	23.75%	6.77%	-14.45%	1.49%	10.26%	-35.52%	25.46%	4.48%	2.82%

Correlation

The correlation between FCG and NWN is 0.02, 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	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.24

Over the past year, the correlation between FCG and NWN has dropped to 0.02 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.

Return for Risk

FCG vs. NWN — Risk / Return Rank

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

FCG

FCG Risk / Return Rank: 20
FCG Sharpe Ratio Rank: 19
FCG Sortino Ratio Rank: 19
FCG Omega Ratio Rank: 18
FCG Calmar Ratio Rank: 22
FCG Martin Ratio Rank: 23

NWN

NWN Risk / Return Rank: 78
NWN Sharpe Ratio Rank: 81
NWN Sortino Ratio Rank: 74
NWN Omega Ratio Rank: 77
NWN Calmar Ratio Rank: 77
NWN Martin Ratio Rank: 79

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.

FCG vs. NWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Natural Gas ETF (FCG) and Northwest Natural Holding Company (NWN). 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.

	FCG	NWN	Difference
Sharpe ratio: Return per unit of total volatility	0.63	1.41	-0.78
Sortino ratio: Return per unit of downside risk	0.99	1.88	-0.90
Omega ratio: Gain probability vs. loss probability	1.12	1.26	-0.15
Calmar ratio: Return relative to maximum drawdown	0.95	2.10	-1.15
Martin ratio: Return relative to average drawdown	2.77	5.83	-3.06

FCG vs. NWN - Sharpe Ratio Comparison

The current FCG Sharpe Ratio is 0.63, which is lower than the NWN Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FCG and NWN, 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

FCG vs. NWN - Drawdown Comparison

The maximum FCG drawdown since its inception was -97.20%, which is greater than NWN's maximum drawdown of -46.27%. Use the drawdown chart below to compare losses from any high point for FCG and NWN.

Drawdown Indicators

	FCG	NWN	Difference
Max Drawdown Largest peak-to-trough decline	-97.20%	-46.27%	-50.93%
Max Drawdown (1Y) Largest decline over 1 year	-17.90%	-13.46%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	-29.44%	-18.39%	-11.05%
Max Drawdown (5Y) Largest decline over 5 years	-33.33%	-32.09%	-1.24%
Max Drawdown (10Y) Largest decline over 10 years	-85.04%	-46.27%	-38.77%
Current Drawdown Current decline from peak	-76.30%	-15.36%	-60.94%
Average Drawdown Average peak-to-trough decline	-65.39%	-12.14%	-53.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.16%	4.85%	+1.31%

Volatility

FCG vs. NWN - Volatility Comparison

First Trust Natural Gas ETF (FCG) has a higher volatility of 9.31% compared to Northwest Natural Holding Company (NWN) at 6.05%. This indicates that FCG's price experiences larger fluctuations and is considered to be riskier than NWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCG	NWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	6.05%	+3.26%
Volatility (6M) Calculated over the trailing 6-month period	20.32%	15.96%	+4.36%
Volatility (1Y) Calculated over the trailing 1-year period	27.29%	20.21%	+7.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.43%	22.79%	+10.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.29%	28.17%	+10.12%

Dividends

FCG vs. NWN - Dividend Comparison

FCG's dividend yield for the trailing twelve months is around 2.33%, less than NWN's 3.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCG First Trust Natural Gas ETF	2.33%	2.86%	2.76%	3.25%	3.04%	1.73%	3.82%	2.87%	1.46%	1.56%	1.70%	4.79%
NWN Northwest Natural Holding Company	3.94%	4.20%	4.94%	4.99%	4.06%	3.94%	4.16%	2.58%	3.13%	3.16%	3.13%	3.68%

Frequently Asked Questions

Can I hold both FCG and NWN in my portfolio?

FCG and NWN have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCG or NWN?

FCG has higher volatility (9.31%) compared to NWN (6.05%). In terms of maximum drawdown, FCG dropped -97.20% vs NWN's -46.27%.

Which has better risk-adjusted returns?

NWN currently has the higher Sharpe Ratio (1.41 vs 0.63), 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.