FCVT vs. FISCX

Last updated Aug 2, 2026

FCVT (First Trust SSI Strategic Convertible Securities ETF) and FISCX (Franklin Convertible Securities Fund) are both Convertible Bonds funds. Over the past 10 years, FCVT returned 10.87%/yr vs 11.73%/yr for FISCX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FCVT charges 0.95%/yr vs 0.83%/yr for FISCX.

Performance

FCVT vs. FISCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SSI Strategic Convertible Securities ETF (FCVT) and Franklin Convertible Securities Fund (FISCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCVT achieves a 14.79% return, which is significantly higher than FISCX's 10.14% return. Over the past 10 years, FCVT has underperformed FISCX with an annualized return of 10.87%, while FISCX has yielded a comparatively higher 11.73% annualized return.

FCVT

• 1D: 0.19%
• 1M: -4.59%
• 6M: 8.08%
• YTD: 14.79%
• 1Y: 27.00%
• 3Y*: 15.74%
• 5Y*: 5.37%
• 10Y*: 10.87%
• ALL TIME*: 10.52%

FISCX

• 1D: 1.52%
• 1M: -0.04%
• 6M: 8.10%
• YTD: 10.14%
• 1Y: 19.92%
• 3Y*: 14.21%
• 5Y*: 3.63%
• 10Y*: 11.73%
• ALL TIME*: 9.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCVT First Trust SSI Strategic Convertible Securities ETF	$3.38M	$2.19M	$1.42M
FISCX Franklin Convertible Securities Fund	$0.00	$0.00	$0.00

FCVT vs. FISCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCVT First Trust SSI Strategic Convertible Securities ETF	14.79%	19.60%	11.92%	7.12%	-20.88%	4.23%	51.02%	22.30%	-2.28%	12.66%
FISCX Franklin Convertible Securities Fund	10.14%	13.63%	16.62%	9.96%	-15.95%	-5.70%	46.28%	33.99%	4.15%	17.98%

Correlation

The correlation between FCVT and FISCX is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Nov 4, 2015	0.76

The correlation between FCVT and FISCX has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.

Return for Risk

FCVT vs. FISCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCVT

FCVT Risk / Return Rank: 54
FCVT Sharpe Ratio Rank: 55
FCVT Sortino Ratio Rank: 51
FCVT Omega Ratio Rank: 50
FCVT Calmar Ratio Rank: 51
FCVT Martin Ratio Rank: 60

FISCX

FISCX Risk / Return Rank: 73
FISCX Sharpe Ratio Rank: 68
FISCX Sortino Ratio Rank: 66
FISCX Omega Ratio Rank: 62
FISCX Calmar Ratio Rank: 84
FISCX Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCVT vs. FISCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) and Franklin Convertible Securities Fund (FISCX). 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	FISCX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.60	-0.28
Sortino ratio: Return per unit of downside risk	1.82	2.28	-0.45
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	1.82	2.89	-1.07
Martin ratio: Return relative to average drawdown	7.30	11.06	-3.76

FCVT vs. FISCX - Sharpe Ratio Comparison

The current FCVT Sharpe Ratio is 1.32, which is comparable to the FISCX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FCVT and FISCX, 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

FCVT vs. FISCX - Drawdown Comparison

The maximum FCVT drawdown since its inception was -31.79%, smaller than the maximum FISCX drawdown of -49.16%. Use the drawdown chart below to compare losses from any high point for FCVT and FISCX.

Drawdown Indicators

	FCVT	FISCX	Difference
Max Drawdown Largest peak-to-trough decline	-31.79%	-49.16%	+17.37%
Max Drawdown (1Y) Largest decline over 1 year	-13.87%	-6.38%	-7.49%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	-12.95%	-2.11%
Max Drawdown (5Y) Largest decline over 5 years	-30.43%	-34.37%	+3.94%
Max Drawdown (10Y) Largest decline over 10 years	-31.79%	-34.37%	+2.58%
Current Drawdown Current decline from peak	-10.08%	-1.58%	-8.50%
Average Drawdown Average peak-to-trough decline	-10.29%	-6.88%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	1.67%	+1.78%

Volatility

FCVT vs. FISCX - Volatility Comparison

First Trust SSI Strategic Convertible Securities ETF (FCVT) has a higher volatility of 7.70% compared to Franklin Convertible Securities Fund (FISCX) at 3.48%. This indicates that FCVT's price experiences larger fluctuations and is considered to be riskier than FISCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCVT	FISCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.70%	3.48%	+4.22%
Volatility (6M) Calculated over the trailing 6-month period	16.06%	9.49%	+6.57%
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	11.48%	+7.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	12.53%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	13.52%	+1.47%

FCVT vs. FISCX - Expense Ratio Comparison

FCVT has a 0.95% expense ratio, which is higher than FISCX's 0.83% expense ratio.

Dividends

FCVT vs. FISCX - Dividend Comparison

FCVT's dividend yield for the trailing twelve months is around 1.14%, less than FISCX's 8.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCVT First Trust SSI Strategic Convertible Securities ETF	1.14%	1.98%	1.30%	1.76%	3.71%	23.07%	1.72%	1.60%	1.85%	2.18%	1.88%	0.59%
FISCX Franklin Convertible Securities Fund	8.95%	9.94%	4.87%	2.22%	8.70%	8.10%	11.30%	16.05%	7.09%	7.68%	4.62%	4.68%

Frequently Asked Questions

Can I hold both FCVT and FISCX in my portfolio?

FCVT and FISCX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCVT or FISCX?

FCVT has higher volatility (7.70%) compared to FISCX (3.48%). In terms of maximum drawdown, FCVT dropped -31.79% vs FISCX's -49.16%.

Which has better risk-adjusted returns?

FISCX currently has the higher Sharpe Ratio (1.60 vs 1.32), 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.