FCVT vs. ESPO
FCVT (First Trust SSI Strategic Convertible Securities ETF) and ESPO (VanEck Video Gaming and eSports ETF) are both exchange-traded funds - FCVT is a Preferred Stock/Convertible Bonds fund actively managed by First Trust, while ESPO is a Gaming fund tracking the MVIS Global Video Gaming and eSports Index. FCVT is actively managed, while ESPO is passively managed. Over the past 5 years, FCVT returned 6.75%/yr vs 5.31%/yr for ESPO. A 0.67 correlation means they provide meaningful diversification when combined. FCVT charges 0.95%/yr vs 0.55%/yr for ESPO.
Performance
FCVT vs. ESPO - Performance Comparison
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Returns By Period
In the year-to-date period, FCVT achieves a 24.74% return, which is significantly higher than ESPO's -16.33% return.
FCVT
- 1D
- -2.29%
- 1M
- 2.99%
- YTD
- 24.74%
- 6M
- 22.65%
- 1Y
- 43.93%
- 3Y*
- 20.64%
- 5Y*
- 6.75%
- 10Y*
- 12.06%
ESPO
- 1D
- -0.79%
- 1M
- -2.71%
- YTD
- -16.33%
- 6M
- -16.76%
- 1Y
- -16.63%
- 3Y*
- 17.97%
- 5Y*
- 5.31%
- 10Y*
- —
FCVT vs. ESPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 24.74% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -6.18% |
ESPO VanEck Video Gaming and eSports ETF | -16.33% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.49% |
Correlation
The correlation between FCVT and ESPO is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.67 |
The correlation between FCVT and ESPO shifts across timeframes, from 0.51 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FCVT vs. ESPO — Risk / Return Rank
FCVT
ESPO
FCVT vs. ESPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) and VanEck Video Gaming and eSports ETF (ESPO). 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.
| FCVT | ESPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.46 | ||
| Sortino ratioReturn per unit of downside risk | +4.40 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 0.86 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 5.21 | -0.59 | +5.80 |
| Martin ratioReturn relative to average drawdown | 18.41 | -1.01 | +19.42 |
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Drawdowns
FCVT vs. ESPO - Drawdown Comparison
The maximum FCVT drawdown since its inception was -31.79%, smaller than the maximum ESPO drawdown of -50.99%. Use the drawdown chart below to compare losses from any high point for FCVT and ESPO.
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Drawdown Indicators
| FCVT | ESPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.79% | -50.99% | +19.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -28.25% | +19.78% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -28.25% | +13.19% |
Max Drawdown (5Y)Largest decline over 5 years | -30.43% | -48.33% | +17.90% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | — | — |
Current DrawdownCurrent decline from peak | -2.29% | -28.25% | +25.96% |
Average DrawdownAverage peak-to-trough decline | -10.32% | -15.10% | +4.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 16.49% | -14.10% |
Volatility
FCVT vs. ESPO - Volatility Comparison
First Trust SSI Strategic Convertible Securities ETF (FCVT) has a higher volatility of 7.27% compared to VanEck Video Gaming and eSports ETF (ESPO) at 4.23%. This indicates that FCVT's price experiences larger fluctuations and is considered to be riskier than ESPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVT | ESPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 4.23% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 14.64% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 18.65% | -1.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.37% | 25.09% | -10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 25.68% | -10.69% |
FCVT vs. ESPO - Expense Ratio Comparison
FCVT has a 0.95% expense ratio, which is higher than ESPO's 0.55% expense ratio.
Dividends
FCVT vs. ESPO - Dividend Comparison
FCVT's dividend yield for the trailing twelve months is around 1.20%, less than ESPO's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Video Gaming and eSports ETF | 1.49% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% | 0.00% | 0.00% | 0.00% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.20% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
Frequently Asked Questions
FCVT and ESPO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCVT has higher volatility (7.27%) compared to ESPO (4.23%). In terms of maximum drawdown, FCVT dropped -31.79% vs ESPO's -50.99%.
On 5-year performance, FCVT leads with 6.75% vs 5.31% for ESPO. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FCVT has performed better with a 6.75% return vs 5.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 0.95% for FCVT.
ESPO has the higher dividend yield at 1.49%, compared with 1.20% for FCVT.
FCVT is categorized as Preferred Stock/Convertible Bonds, while ESPO is Gaming. They also come from different issuers: First Trust and VanEck. Their fees differ too: 0.95% for FCVT and 0.55% for ESPO.
FCVT currently has the higher Sharpe Ratio (2.57 vs -0.90), 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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