FTGC vs. KOLD
FTGC (First Trust Global Tactical Commodity Strategy Fund) and KOLD (ProShares UltraShort Bloomberg Natural Gas) are both exchange-traded funds - FTGC is a Commodities fund actively managed by First Trust, while KOLD is a Oil & Gas fund tracking the Bloomberg Natural Gas Subindex. FTGC is actively managed, while KOLD is passively managed. Over the past 10 years, FTGC returned 7.28%/yr vs -25.09%/yr for KOLD. At a correlation of -0.27, they often move in opposite directions. Both charge a 0.95% expense ratio.
Performance
FTGC vs. KOLD - Performance Comparison
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Returns By Period
In the year-to-date period, FTGC achieves a 20.23% return, which is significantly higher than KOLD's -37.17% return. Over the past 10 years, FTGC has outperformed KOLD with an annualized return of 7.28%, while KOLD has yielded a comparatively lower -25.09% annualized return.
FTGC
- 1D
- -0.24%
- 1M
- -6.30%
- YTD
- 20.23%
- 6M
- 20.44%
- 1Y
- 26.86%
- 3Y*
- 14.70%
- 5Y*
- 12.56%
- 10Y*
- 7.28%
KOLD
- 1D
- -0.18%
- 1M
- -14.27%
- YTD
- -37.17%
- 6M
- -42.50%
- 1Y
- 9.00%
- 3Y*
- -6.55%
- 5Y*
- -38.86%
- 10Y*
- -25.09%
FTGC vs. KOLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 20.23% | 14.61% | 9.96% | -5.36% | 17.36% | 27.95% | 2.17% | 6.40% | -12.75% | 2.73% |
KOLD ProShares UltraShort Bloomberg Natural Gas | -37.17% | -17.48% | -11.34% | 249.82% | -88.62% | -74.44% | 22.05% | 82.94% | -46.48% | 72.02% |
Correlation
The correlation between FTGC and KOLD is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.26 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2013 | -0.27 |
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Return for Risk
FTGC vs. KOLD — Risk / Return Rank
FTGC
KOLD
FTGC vs. KOLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Global Tactical Commodity Strategy Fund (FTGC) and ProShares UltraShort Bloomberg Natural Gas (KOLD). 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.
| FTGC | KOLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.13 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 0.12 | +2.62 |
| Martin ratioReturn relative to average drawdown | 9.43 | 0.24 | +9.19 |
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Drawdowns
FTGC vs. KOLD - Drawdown Comparison
The maximum FTGC drawdown since its inception was -59.47%, smaller than the maximum KOLD drawdown of -99.45%. Use the drawdown chart below to compare losses from any high point for FTGC and KOLD.
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Drawdown Indicators
| FTGC | KOLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.47% | -99.45% | +39.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -72.50% | +62.66% |
Max Drawdown (3Y)Largest decline over 3 years | -10.39% | -84.34% | +73.95% |
Max Drawdown (5Y)Largest decline over 5 years | -22.64% | -98.07% | +75.43% |
Max Drawdown (10Y)Largest decline over 10 years | -35.91% | -99.45% | +63.54% |
Current DrawdownCurrent decline from peak | -9.84% | -97.43% | +87.59% |
Average DrawdownAverage peak-to-trough decline | -27.34% | -69.56% | +42.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 37.81% | -34.83% |
Volatility
FTGC vs. KOLD - Volatility Comparison
The current volatility for First Trust Global Tactical Commodity Strategy Fund (FTGC) is 2.99%, while ProShares UltraShort Bloomberg Natural Gas (KOLD) has a volatility of 23.90%. This indicates that FTGC experiences smaller price fluctuations and is considered to be less risky than KOLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FTGC | KOLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 23.90% | -20.91% |
Volatility (6M)Calculated over the trailing 6-month period | 13.17% | 96.77% | -83.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 113.49% | -97.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.86% | 118.83% | -102.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.71% | 101.81% | -87.10% |
FTGC vs. KOLD - Expense Ratio Comparison
Both FTGC and KOLD have an expense ratio of 0.95%.
Dividends
FTGC vs. KOLD - Dividend Comparison
FTGC's dividend yield for the trailing twelve months is around 15.95%, while KOLD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.95% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% |
KOLD ProShares UltraShort Bloomberg Natural Gas | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FTGC and KOLD have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KOLD has higher volatility (23.90%) compared to FTGC (2.99%). In terms of maximum drawdown, FTGC dropped -59.47% vs KOLD's -99.45%.
On 10-year performance, FTGC leads with 7.28% vs -25.09% for KOLD. Both ETFs have the same 0.95% expense ratio. On volatility, FTGC has been the lower-risk option at 2.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTGC has performed better with a 7.28% return vs -25.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTGC and KOLD have the same expense ratio: 0.95% per year.
FTGC has the higher dividend yield at 15.95%, compared with 0.00% for KOLD.
FTGC is categorized as Commodities, while KOLD is Oil & Gas. They also come from different issuers: First Trust and ProShares.
FTGC currently has the higher Sharpe Ratio (1.72 vs 0.08), 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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