FSIG vs. UCON
FSIG (First Trust Limited Duration Investment Grade Corporate ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both exchange-traded funds - FSIG is a Short-Term Bond fund actively managed by First Trust, while UCON is a Nontraditional Bonds fund actively managed by First Trust. Both are actively managed. Over the past 3 years, FSIG returned 5.09%/yr vs 5.26%/yr for UCON. Their 0.65 correlation means they have sometimes moved together and sometimes differently. FSIG charges 0.55%/yr vs 0.86%/yr for UCON.
Performance
FSIG vs. UCON - Performance Comparison
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Returns By Period
In the year-to-date period, FSIG achieves a 0.46% return, which is significantly higher than UCON's 0.17% return.
FSIG
- 1D
- -0.05%
- 1M
- -0.20%
- 6M
- 0.24%
- YTD
- 0.46%
- 1Y
- 2.90%
- 3Y*
- 5.09%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.70%
UCON
- 1D
- -0.08%
- 1M
- -0.90%
- 6M
- -0.03%
- YTD
- 0.17%
- 1Y
- 3.17%
- 3Y*
- 5.26%
- 5Y*
- 2.62%
- 10Y*
- —
- ALL TIME*
- 3.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.67M | $8.27M | $7.61M | |
| $12.55M | $12.19M | $13.58M |
FSIG vs. UCON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSIG First Trust Limited Duration Investment Grade Corporate ETF | 0.46% | 6.66% | 4.22% | 6.22% | -4.37% | -0.08% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.17% | 7.00% | 4.69% | 7.72% | -5.72% | 0.27% |
Correlation
The correlation between FSIG and UCON is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021 | 0.65 |
The correlation between FSIG and UCON shifts across timeframes, from 0.65 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FSIG vs. UCON — Risk / Return Rank
FSIG
UCON
FSIG vs. UCON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Limited Duration Investment Grade Corporate ETF (FSIG) and First Trust TCW Unconstrained Plus Bond ETF (UCON). 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.
| FSIG | UCON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.22 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.50 | +0.58 |
| Martin ratioReturn relative to average drawdown | 8.35 | 5.42 | +2.93 |
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Drawdowns
FSIG vs. UCON - Drawdown Comparison
The maximum FSIG drawdown since its inception was -6.93%, smaller than the maximum UCON drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for FSIG and UCON.
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Drawdown Indicators
| FSIG | UCON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.93% | -15.31% | +8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -2.45% | +0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -1.55% | -2.85% | +1.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.60% | — |
Current DrawdownCurrent decline from peak | -0.36% | -1.06% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -1.64% | -1.46% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.39% | 0.68% | -0.29% |
Volatility
FSIG vs. UCON - Volatility Comparison
The current volatility for First Trust Limited Duration Investment Grade Corporate ETF (FSIG) is 0.65%, while First Trust TCW Unconstrained Plus Bond ETF (UCON) has a volatility of 0.74%. This indicates that FSIG experiences smaller price fluctuations and is considered to be less risky than UCON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSIG | UCON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.74% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 2.46% | -0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.25% | 2.98% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 3.91% | -0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.94% | 5.85% | -2.91% |
FSIG vs. UCON - Expense Ratio Comparison
FSIG has a 0.55% expense ratio, which is lower than UCON's 0.86% expense ratio.
Dividends
FSIG vs. UCON - Dividend Comparison
FSIG's dividend yield for the trailing twelve months is around 4.84%, more than UCON's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FSIG First Trust Limited Duration Investment Grade Corporate ETF | 4.84% | 4.73% | 4.61% | 4.42% | 2.48% | 0.12% | 0.00% | 0.00% | 0.00% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 4.74% | 4.63% | 4.95% | 4.75% | 3.12% | 2.20% | 3.14% | 3.25% | 1.76% |
Frequently Asked Questions
FSIG and UCON have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCON has higher volatility (0.74%) compared to FSIG (0.65%). In terms of maximum drawdown, FSIG dropped -6.93% vs UCON's -15.31%.
On 3-year performance, UCON leads with 5.26% vs 5.09% for FSIG. On fees, FSIG is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UCON has performed better with a 5.26% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FSIG is cheaper with a 0.55% expense ratio, compared with 0.86% for UCON.
FSIG has the higher dividend yield at 4.84%, compared with 4.74% for UCON.
FSIG is categorized as Short-Term Bond, while UCON is Nontraditional Bonds. Their fees differ too: 0.55% for FSIG and 0.86% for UCON.
FSIG currently has the higher Sharpe Ratio (1.44 vs 1.24), 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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