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

GINC.L vs. FGBL.L

Last updated Jul 16, 2026
Documentation

GINC.L (First Trust Global Equity Income UCITS ETF) and FGBL.L (First Trust Global Equity Income UCITS ETF Class A USD) are both Dividend funds from First Trust - GINC.L tracks the First Trust Global Equity Income UCITS ETF while FGBL.L tracks the First Trust Global Equity Income UCITS ETF Class A USD. Both are passively managed. Over the past 5 years, GINC.L returned 12.70%/yr vs 12.77%/yr for FGBL.L. Their correlation of 0.94 suggests significant overlap in exposure.

Performance

GINC.L vs. FGBL.L - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with GINC.L having a 12.60% return and FGBL.L slightly higher at 13.08%.

GINC.L

1D
-0.20%
1M
0.57%
6M
10.26%
YTD
12.60%
1Y
28.66%
3Y*
19.76%
5Y*
12.70%
10Y*
—

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

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

2026 (YTD)202520242023202220212020201920182017
GINC.L
First Trust Global Equity Income UCITS ETF		12.60%30.32%6.57%10.62%4.04%10.87%-8.93%11.11%-6.13%11.75%
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%

Correlation

The correlation between GINC.L and FGBL.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.79

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

0.88

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

0.92

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2016

0.94

The correlation between GINC.L and FGBL.L shifts across timeframes, from 0.79 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

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First Trust Global Equity Income UCITS ETF

First Trust Global Equity Income UCITS ETF Class A USD

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
GINC.L
GINC.L Risk / Return Rank: 9393
Overall Rank
GINC.L Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
GINC.L Sortino Ratio Rank: 9292
Sortino Ratio Rank
GINC.L Omega Ratio Rank: 9292
Omega Ratio Rank
GINC.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
GINC.L Martin Ratio Rank: 9191
Martin Ratio Rank
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
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.

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

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

GINC.LFGBL.LDifference
Sharpe ratioReturn per unit of total volatility
2.83
3.17

-0.34

Sortino ratioReturn per unit of downside risk
3.67
4.28

-0.62

Omega ratioGain probability vs. loss probability

1.50

1.57

-0.07

Calmar ratioReturn relative to maximum drawdown

5.26

5.20

+0.06

Martin ratioReturn relative to average drawdown

17.20

18.15

-0.95

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

The current GINC.L Sharpe Ratio is 2.83, which is comparable to the FGBL.L Sharpe Ratio of 3.17. The chart below compares the historical Sharpe Ratios of GINC.L and FGBL.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

GINC.L vs. FGBL.L - Drawdown Comparison

The maximum GINC.L drawdown since its inception was -29.42%, smaller than the maximum FGBL.L drawdown of -40.36%. Use the drawdown chart below to compare losses from any high point for GINC.L and FGBL.L.

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Drawdown Indicators

GINC.LFGBL.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.42%

-40.36%

+10.94%

Max Drawdown (1Y)

Largest decline over 1 year

-5.51%

-5.68%

+0.17%

Max Drawdown (3Y)

Largest decline over 3 years

-12.34%

-12.45%

+0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-12.34%

-12.45%

+0.11%

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.44%

—

Current Drawdown

Current decline from peak

-0.75%

-0.63%

-0.12%

Average Drawdown

Average peak-to-trough decline

-5.97%

-8.01%

+2.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

1.63%

+0.06%

Volatility

GINC.L vs. FGBL.L - Volatility Comparison

First Trust Global Equity Income UCITS ETF (GINC.L) has a higher volatility of 2.36% compared to First Trust Global Equity Income UCITS ETF Class A USD (FGBL.L) at 2.12%. This indicates that GINC.L's price experiences larger fluctuations and is considered to be riskier than FGBL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

GINC.LFGBL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.36%

2.12%

+0.24%

Volatility (6M)

Calculated over the trailing 6-month period

7.63%

7.11%

+0.52%

Volatility (1Y)

Calculated over the trailing 1-year period

10.25%

9.36%

+0.89%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.44%

11.86%

+0.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.28%

13.92%

+1.36%

Dividends

GINC.L vs. FGBL.L - Dividend Comparison

GINC.L's dividend yield for the trailing twelve months is around 3.38%, while FGBL.L has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
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%
GINC.L
First Trust Global Equity Income UCITS ETF		3.38%3.67%4.33%5.62%5.35%3.84%3.47%3.95%3.66%3.20%

Frequently Asked Questions

GINC.L and FGBL.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

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