FIW vs. IGLD

Last updated Jun 24, 2026

FIW (First Trust Water ETF) and IGLD (FT Vest Gold Strategy Target Income ETF) are both exchange-traded funds - FIW is a Water Equities fund tracking the ISE Clean Edge Water Index, while IGLD is a Gold fund actively managed by First Trust. FIW is passively managed, while IGLD is actively managed. Over the past 5 years, FIW returned 5.63%/yr vs 12.76%/yr for IGLD. At a 0.16 correlation, their price movements are largely independent. FIW charges 0.50%/yr vs 0.85%/yr for IGLD.

Performance

FIW vs. IGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Water ETF (FIW) and FT Vest Gold Strategy Target Income ETF (IGLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIW achieves a -3.00% return, which is significantly higher than IGLD's -5.55% return.

FIW

• 1D: -0.33%
• 1M: 2.90%
• YTD: -3.00%
• 6M: -4.67%
• 1Y: -1.15%
• 3Y*: 7.63%
• 5Y*: 5.63%
• 10Y*: 12.64%

IGLD

• 1D: -1.96%
• 1M: -8.08%
• YTD: -5.55%
• 6M: -8.37%
• 1Y: 14.83%
• 3Y*: 20.33%
• 5Y*: 12.76%
• 10Y*: —

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

FIW vs. IGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FIW First Trust Water ETF	-3.00%	7.20%	8.38%	20.35%	-15.70%	24.78%
IGLD FT Vest Gold Strategy Target Income ETF	-5.55%	47.46%	19.36%	9.24%	-2.34%	4.30%

Correlation

The correlation between FIW and IGLD is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Mar 3, 2021	0.16

Return for Risk

FIW vs. IGLD — Risk / Return Rank

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

FIW

FIW Risk / Return Rank: 8
FIW Sharpe Ratio Rank: 8
FIW Sortino Ratio Rank: 8
FIW Omega Ratio Rank: 7
FIW Calmar Ratio Rank: 8
FIW Martin Ratio Rank: 8

IGLD

IGLD Risk / Return Rank: 18
IGLD Sharpe Ratio Rank: 19
IGLD Sortino Ratio Rank: 18
IGLD Omega Ratio Rank: 20
IGLD Calmar Ratio Rank: 17
IGLD Martin Ratio Rank: 18

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.

FIW vs. IGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Water ETF (FIW) and FT Vest Gold Strategy Target Income ETF (IGLD). 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.

	FIW	IGLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	0.61	-0.68
Sortino ratio: Return per unit of downside risk	0.01	0.94	-0.94
Omega ratio: Gain probability vs. loss probability	1.00	1.14	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.08	0.68	-0.76
Martin ratio: Return relative to average drawdown	-0.20	1.94	-2.14

FIW vs. IGLD - Sharpe Ratio Comparison

The current FIW Sharpe Ratio is -0.07, which is lower than the IGLD Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of FIW and IGLD, 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

FIW vs. IGLD - Drawdown Comparison

The maximum FIW drawdown since its inception was -52.75%, which is greater than IGLD's maximum drawdown of -21.90%. Use the drawdown chart below to compare losses from any high point for FIW and IGLD.

Drawdown Indicators

	FIW	IGLD	Difference
Max Drawdown Largest peak-to-trough decline	-52.75%	-21.90%	-30.85%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-21.90%	+8.09%
Max Drawdown (3Y) Largest decline over 3 years	-18.32%	-21.90%	+3.58%
Max Drawdown (5Y) Largest decline over 5 years	-28.53%	-21.90%	-6.63%
Max Drawdown (10Y) Largest decline over 10 years	-36.60%	—	—
Current Drawdown Current decline from peak	-9.03%	-21.20%	+12.17%
Average Drawdown Average peak-to-trough decline	-8.30%	-5.37%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	7.68%	-1.98%

Volatility

FIW vs. IGLD - Volatility Comparison

The current volatility for First Trust Water ETF (FIW) is 4.68%, while FT Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 8.14%. This indicates that FIW experiences smaller price fluctuations and is considered to be less risky than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIW	IGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	8.14%	-3.46%
Volatility (6M) Calculated over the trailing 6-month period	11.92%	22.34%	-10.42%
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	24.40%	-8.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.39%	15.48%	+2.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	15.30%	+4.59%

FIW vs. IGLD - Expense Ratio Comparison

FIW has a 0.50% expense ratio, which is lower than IGLD's 0.85% expense ratio.

Dividends

FIW vs. IGLD - Dividend Comparison

FIW's dividend yield for the trailing twelve months is around 0.78%, less than IGLD's 19.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIW First Trust Water ETF	0.78%	0.69%	0.69%	0.68%	0.67%	0.37%	0.56%	0.55%	0.73%	1.13%	0.51%	0.76%
IGLD FT Vest Gold Strategy Target Income ETF	19.29%	9.91%	20.81%	7.85%	4.45%	2.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIW and IGLD in my portfolio?

FIW and IGLD have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIW or IGLD?

IGLD has higher volatility (8.14%) compared to FIW (4.68%). In terms of maximum drawdown, FIW dropped -52.75% vs IGLD's -21.90%.

Which ETF is better, FIW or IGLD?

On 5-year performance, IGLD leads with 12.76% vs 5.63% for FIW. On fees, FIW is cheaper at 0.50% per year. On volatility, FIW has been the lower-risk option at 4.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FIW or IGLD?

Over the 5-year period, IGLD has performed better with a 12.76% return vs 5.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FIW or IGLD?

FIW is cheaper with a 0.50% expense ratio, compared with 0.85% for IGLD.

Which ETF pays a higher dividend yield, FIW or IGLD?

IGLD has the higher dividend yield at 19.29%, compared with 0.78% for FIW.

What is the main difference between FIW and IGLD?

FIW is categorized as Water Equities, while IGLD is Gold. Their fees differ too: 0.50% for FIW and 0.85% for IGLD.

Which has better risk-adjusted returns?

IGLD currently has the higher Sharpe Ratio (0.61 vs -0.07), 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.