FCG vs. PBOG

Last updated Jun 4, 2026

FCG (First Trust Natural Gas ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - FCG is a Energy Equities fund tracking the ISE-Revere Natural Gas Index, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. FCG charges 0.60%/yr vs 0.13%/yr for PBOG.

Performance

FCG vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Natural Gas ETF (FCG) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCG achieves a 27.71% return, which is significantly lower than PBOG's 32.22% return.

FCG

• 1D: 1.02%
• 1M: -6.03%
• YTD: 27.71%
• 6M: 20.12%
• 1Y: 32.99%
• 3Y*: 12.75%
• 5Y*: 16.52%
• 10Y*: 4.65%

PBOG

• 1D: 1.23%
• 1M: -2.32%
• YTD: 32.22%
• 6M: 29.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCG vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
FCG First Trust Natural Gas ETF	27.71%	-0.55%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	32.22%	1.62%

Correlation

The correlation between FCG and PBOG is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.91

Return for Risk

FCG vs. PBOG — Risk / Return Rank

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

FCG

FCG Risk / Return Rank: 36
FCG Sharpe Ratio Rank: 34
FCG Sortino Ratio Rank: 31
FCG Omega Ratio Rank: 30
FCG Calmar Ratio Rank: 51
FCG Martin Ratio Rank: 36

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. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Natural Gas ETF (FCG) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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.

	FCG	PBOG	Difference
Sharpe ratio: Return per unit of total volatility	1.24	—	—
Sortino ratio: Return per unit of downside risk	1.69	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	2.54	—	—
Martin ratio: Return relative to average drawdown	5.56	—	—
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

	FCG	PBOG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	3.31	-3.42

Drawdowns

FCG vs. PBOG - Drawdown Comparison

The maximum FCG drawdown since its inception was -97.20%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for FCG and PBOG.

Drawdown Indicators

	FCG	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-97.20%	-11.45%	-85.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.44%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-85.04%	—	—
Current Drawdown Current decline from peak	-74.25%	-6.81%	-67.44%
Average Drawdown Average peak-to-trough decline	-65.38%	-3.10%	-62.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.95%	—	—

Volatility

Volatility by Period

	FCG	PBOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.60%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.75%	23.67%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.46%	23.67%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.30%	23.67%	+14.63%

FCG vs. PBOG - Expense Ratio Comparison

FCG has a 0.60% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

FCG vs. PBOG - Dividend Comparison

FCG's dividend yield for the trailing twelve months is around 2.15%, more than PBOG's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCG First Trust Natural Gas ETF	2.15%	2.86%	2.76%	3.25%	3.04%	1.73%	3.82%	2.87%	1.46%	1.56%	1.70%	4.79%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%	0.00%	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 FCG and PBOG in my portfolio?

With a correlation of 0.91, FCG and PBOG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FCG or PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FCG or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.60% for FCG.

Which ETF pays a higher dividend yield, FCG or PBOG?

FCG has the higher dividend yield at 2.15%, compared with 0.13% for PBOG.

What is the main difference between FCG and PBOG?

FCG is categorized as Energy Equities, while PBOG is Oil & Gas. FCG tracks ISE-Revere Natural Gas Index, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: First Trust and Portfolio Building Blocks. Their fees differ too: 0.60% for FCG and 0.13% for PBOG.