FCG vs. XOP

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Natural Gas ETF (FCG) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

FCG and XOP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FCG is a passively managed fund by First Trust that tracks the performance of the ISE-Revere Natural Gas Index. It was launched on May 8, 2007. XOP is a passively managed fund by State Street that tracks the performance of the S&P Oil & Gas Exploration & Production Select Industry. It was launched on Jun 19, 2006. Both FCG and XOP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FCG vs. XOP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Natural Gas ETF (FCG) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). The values are adjusted to include any dividend payments, if applicable.

FCG vs. XOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCG First Trust Natural Gas ETF	35.99%	-2.28%	4.16%	2.55%	47.24%	98.49%	-23.20%	-15.76%	-34.81%	-11.38%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	44.59%	-2.15%	-1.00%	3.56%	45.37%	66.74%	-36.40%	-9.44%	-28.10%	-9.47%

Returns By Period

In the year-to-date period, FCG achieves a 35.99% return, which is significantly lower than XOP's 44.59% return. Over the past 10 years, FCG has outperformed XOP with an annualized return of 7.31%, while XOP has yielded a comparatively lower 6.29% annualized return.

FCG

• 1D: -1.95%
• 1M: 13.98%
• YTD: 35.99%
• 6M: 36.46%
• 1Y: 30.79%
• 3Y*: 15.23%
• 5Y*: 22.03%
• 10Y*: 7.31%

XOP

• 1D: -1.97%
• 1M: 18.76%
• YTD: 44.59%
• 6M: 39.10%
• 1Y: 41.36%
• 3Y*: 15.28%
• 5Y*: 19.07%
• 10Y*: 6.29%

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

FCG vs. XOP - Expense Ratio Comparison

FCG has a 0.60% expense ratio, which is higher than XOP's 0.35% expense ratio.

FCG

First Trust Natural Gas ETF

XOP

SPDR S&P Oil & Gas Exploration & Production ETF

Return for Risk

FCG vs. XOP — Risk / Return Rank

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

FCG

FCG Risk / Return Rank: 52
FCG Sharpe Ratio Rank: 55
FCG Sortino Ratio Rank: 53
FCG Omega Ratio Rank: 53
FCG Calmar Ratio Rank: 57
FCG Martin Ratio Rank: 43

XOP

XOP Risk / Return Rank: 69
XOP Sharpe Ratio Rank: 73
XOP Sortino Ratio Rank: 69
XOP Omega Ratio Rank: 69
XOP Calmar Ratio Rank: 72
XOP Martin Ratio Rank: 63

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. XOP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Natural Gas ETF (FCG) and SPDR S&P Oil & Gas Exploration & Production ETF (XOP). 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	XOP	Difference
Sharpe ratio Return per unit of total volatility	0.95	1.24	-0.29
Sortino ratio Return per unit of downside risk	1.36	1.68	-0.32
Omega ratio Gain probability vs. loss probability	1.19	1.24	-0.05
Calmar ratio Return relative to maximum drawdown	1.37	1.78	-0.41
Martin ratio Return relative to average drawdown	3.92	5.81	-1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCG vs. XOP - Sharpe Ratio Comparison

The current FCG Sharpe Ratio is 0.95, which is comparable to the XOP Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of FCG and XOP, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCG	XOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.24	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.56	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.19	0.16	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	-0.10	0.07	-0.17

Correlation

The correlation between FCG and XOP is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCG vs. XOP - Dividend Comparison

FCG's dividend yield for the trailing twelve months is around 2.02%, more than XOP's 1.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCG First Trust Natural Gas ETF	2.02%	2.86%	2.76%	3.25%	3.04%	1.73%	3.82%	2.87%	1.46%	1.56%	1.70%	4.79%
XOP SPDR S&P Oil & Gas Exploration & Production ETF	1.79%	2.62%	2.45%	2.63%	2.47%	1.61%	2.34%	1.47%	0.99%	0.76%	0.76%	2.21%

Drawdowns

FCG vs. XOP - Drawdown Comparison

The maximum FCG drawdown since its inception was -97.20%, which is greater than XOP's maximum drawdown of -90.27%. Use the drawdown chart below to compare losses from any high point for FCG and XOP.

Drawdown Indicators

	FCG	XOP	Difference
Max Drawdown Largest peak-to-trough decline	-97.20%	-90.27%	-6.93%
Max Drawdown (1Y) Largest decline over 1 year	-23.23%	-23.81%	+0.58%
Max Drawdown (5Y) Largest decline over 5 years	-33.33%	-34.98%	+1.65%
Max Drawdown (10Y) Largest decline over 10 years	-85.04%	-82.61%	-2.43%
Current Drawdown Current decline from peak	-72.58%	-32.42%	-40.16%
Average Drawdown Average peak-to-trough decline	-65.30%	-42.64%	-22.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.13%	7.32%	+0.81%

Volatility

FCG vs. XOP - Volatility Comparison

The current volatility for First Trust Natural Gas ETF (FCG) is 6.09%, while SPDR S&P Oil & Gas Exploration & Production ETF (XOP) has a volatility of 7.05%. This indicates that FCG experiences smaller price fluctuations and is considered to be less risky than XOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCG	XOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.09%	7.05%	-0.96%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	19.16%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	32.42%	33.50%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.88%	34.15%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.28%	40.28%	-2.00%