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FGBL.L vs. UINC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FGBL.L vs. UINC.L

Last updated Jul 16, 2026
Documentation

FGBL.L (First Trust Global Equity Income UCITS ETF Class A USD) and UINC.L (First Trust US Equity Income UCITS ETF) are both Dividend funds from First Trust - FGBL.L tracks the First Trust Global Equity Income UCITS ETF Class A USD while UINC.L tracks the First Trust US Equity Income UCITS ETF. Both are passively managed. Over the past 10 years, FGBL.L returned 9.31%/yr vs 9.99%/yr for UINC.L. A 0.68 correlation means they provide meaningful diversification when combined.

Performance

FGBL.L vs. UINC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Global Equity Income UCITS ETF Class A USD (FGBL.L) and First Trust US Equity Income UCITS ETF (UINC.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FGBL.L achieves a 13.08% return, which is significantly lower than UINC.L's 16.69% return. Over the past 10 years, FGBL.L has underperformed UINC.L with an annualized return of 9.31%, while UINC.L has yielded a comparatively higher 9.99% annualized return.

FGBL.L

1D
-0.04%
1M
0.91%
6M
10.70%
YTD
13.08%
1Y
28.79%
3Y*
19.89%
5Y*
12.77%
10Y*
9.31%

UINC.L

1D
-0.42%
1M
1.33%
6M
13.40%
YTD
16.69%
1Y
22.27%
3Y*
14.34%
5Y*
10.14%
10Y*
9.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FGBL.L vs. UINC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FGBL.L
First Trust Global Equity Income UCITS ETF Class A USD		13.08%30.51%6.22%11.15%3.62%10.79%-8.84%11.01%-5.93%11.89%
UINC.L
First Trust US Equity Income UCITS ETF		16.69%0.01%8.49%10.78%4.24%34.94%-2.77%12.59%-3.41%5.05%

Correlation

The correlation between FGBL.L and UINC.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.61

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Apr 14, 2016

0.68

Over the past year, the correlation between FGBL.L and UINC.L has dropped to 0.38 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

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First Trust Global Equity Income UCITS ETF Class A USD

First Trust US Equity Income UCITS ETF

Return for Risk

FGBL.L vs. UINC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FGBL.L
FGBL.L Risk / Return Rank: 9494
Overall Rank
FGBL.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
FGBL.L Sortino Ratio Rank: 9595
Sortino Ratio Rank
FGBL.L Omega Ratio Rank: 9595
Omega Ratio Rank
FGBL.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
FGBL.L Martin Ratio Rank: 9292
Martin Ratio Rank
UINC.L
UINC.L Risk / Return Rank: 8181
Overall Rank
UINC.L Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
UINC.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
UINC.L Omega Ratio Rank: 7171
Omega Ratio Rank
UINC.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
UINC.L Martin Ratio Rank: 8585
Martin Ratio Rank
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.

FGBL.L vs. UINC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Equity Income UCITS ETF Class A USD (FGBL.L) and First Trust US Equity Income UCITS ETF (UINC.L). 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.

FGBL.LUINC.LDifference
Sharpe ratioReturn per unit of total volatility
3.17
1.95

+1.22

Sortino ratioReturn per unit of downside risk
4.28
2.83

+1.45

Omega ratioGain probability vs. loss probability

1.57

1.34

+0.24

Calmar ratioReturn relative to maximum drawdown

5.20

4.79

+0.42

Martin ratioReturn relative to average drawdown

18.15

13.50

+4.64

FGBL.L vs. UINC.L - Sharpe Ratio Comparison

The current FGBL.L Sharpe Ratio is 3.17, which is higher than the UINC.L Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of FGBL.L and UINC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FGBL.L vs. UINC.L - Drawdown Comparison

The maximum FGBL.L drawdown since its inception was -40.36%, which is greater than UINC.L's maximum drawdown of -38.33%. Use the drawdown chart below to compare losses from any high point for FGBL.L and UINC.L.

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Drawdown Indicators

FGBL.LUINC.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.36%

-38.33%

-2.03%

Max Drawdown (1Y)

Largest decline over 1 year

-5.68%

-5.10%

-0.58%

Max Drawdown (3Y)

Largest decline over 3 years

-12.45%

-23.09%

+10.64%

Max Drawdown (5Y)

Largest decline over 5 years

-12.45%

-23.09%

+10.64%

Max Drawdown (10Y)

Largest decline over 10 years

-29.44%

-38.33%

+8.89%

Current Drawdown

Current decline from peak

-0.63%

-0.88%

+0.25%

Average Drawdown

Average peak-to-trough decline

-8.01%

-8.26%

+0.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.63%

1.81%

-0.18%

Volatility

FGBL.L vs. UINC.L - Volatility Comparison

The current volatility for First Trust Global Equity Income UCITS ETF Class A USD (FGBL.L) is 2.12%, while First Trust US Equity Income UCITS ETF (UINC.L) has a volatility of 3.50%. This indicates that FGBL.L experiences smaller price fluctuations and is considered to be less risky than UINC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FGBL.LUINC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.12%

3.50%

-1.38%

Volatility (6M)

Calculated over the trailing 6-month period

7.11%

9.01%

-1.90%

Volatility (1Y)

Calculated over the trailing 1-year period

9.36%

12.64%

-3.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.86%

16.74%

-4.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.92%

19.57%

-5.65%

Dividends

FGBL.L vs. UINC.L - Dividend Comparison

FGBL.L has not paid dividends to shareholders, while UINC.L's dividend yield for the trailing twelve months is around 2.82%.

PositionTTM2025202420232022202120202019201820172016
FGBL.L
First Trust Global Equity Income UCITS ETF Class A USD		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
UINC.L
First Trust US Equity Income UCITS ETF		2.82%3.03%2.84%3.20%3.25%2.15%3.40%3.14%3.01%2.49%1.60%

Frequently Asked Questions

FGBL.L and UINC.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FGBL.L tracks First Trust Global Equity Income UCITS ETF Class A USD, while UINC.L tracks First Trust US Equity Income UCITS ETF.

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