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

GINC.L vs. UNCU.L

Last updated Jul 16, 2026
Documentation

GINC.L (First Trust Global Equity Income UCITS ETF) and UNCU.L (First Trust US Equity Income UCITS ETF Class B) are both Dividend funds from First Trust - GINC.L tracks the First Trust Global Equity Income UCITS ETF while UNCU.L tracks the First Trust US Equity Income UCITS ETF Class B. Both are passively managed. Over the past 5 years, GINC.L returned 12.70%/yr vs 10.24%/yr for UNCU.L. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

GINC.L vs. UNCU.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 US Equity Income UCITS ETF Class B (UNCU.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

GINC.L is traded in GBp, while UNCU.L is traded in USD. To make them comparable, the UNCU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, GINC.L achieves a 12.60% return, which is significantly lower than UNCU.L's 16.75% return.

GINC.L

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

UNCU.L

1D
-0.03%
1M
1.27%
6M
13.48%
YTD
16.75%
1Y
22.11%
3Y*
14.43%
5Y*
10.24%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

GINC.L vs. UNCU.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%10.17%
UNCU.L
First Trust US Equity Income UCITS ETF Class B		16.75%-0.12%8.49%11.30%4.16%33.28%-1.65%12.87%-2.91%10.62%

Correlation

The correlation between GINC.L and UNCU.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.51

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

0.53

Correlation (All Time)
Calculated using the full available price history since May 9, 2017

0.56

The correlation between GINC.L and UNCU.L shifts across timeframes, from 0.40 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

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First Trust Global Equity Income UCITS ETF

First Trust US Equity Income UCITS ETF Class B

Return for Risk

GINC.L vs. UNCU.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
UNCU.L
UNCU.L Risk / Return Rank: 7272
Overall Rank
UNCU.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
UNCU.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
UNCU.L Omega Ratio Rank: 6363
Omega Ratio Rank
UNCU.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
UNCU.L Martin Ratio Rank: 6565
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. UNCU.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 US Equity Income UCITS ETF Class B (UNCU.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.LUNCU.LDifference
Sharpe ratioReturn per unit of total volatility
2.83
1.65

+1.18

Sortino ratioReturn per unit of downside risk
3.67
2.39

+1.28

Omega ratioGain probability vs. loss probability

1.50

1.28

+0.22

Calmar ratioReturn relative to maximum drawdown

5.26

4.22

+1.04

Martin ratioReturn relative to average drawdown

17.20

11.91

+5.29

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

The current GINC.L Sharpe Ratio is 2.83, which is higher than the UNCU.L Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of GINC.L and UNCU.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. UNCU.L - Drawdown Comparison

The maximum GINC.L drawdown since its inception was -29.42%, smaller than the maximum UNCU.L drawdown of -39.03%. Use the drawdown chart below to compare losses from any high point for GINC.L and UNCU.L.

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Drawdown Indicators

GINC.LUNCU.LDifference

Max Drawdown

Largest peak-to-trough decline

-29.42%

-39.03%

+9.61%

Max Drawdown (1Y)

Largest decline over 1 year

-5.51%

-5.22%

-0.29%

Max Drawdown (3Y)

Largest decline over 3 years

-12.34%

-22.98%

+10.64%

Max Drawdown (5Y)

Largest decline over 5 years

-12.34%

-22.98%

+10.64%

Current Drawdown

Current decline from peak

-0.75%

-1.02%

+0.27%

Average Drawdown

Average peak-to-trough decline

-5.97%

-6.53%

+0.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

1.85%

-0.16%

Volatility

GINC.L vs. UNCU.L - Volatility Comparison

The current volatility for First Trust Global Equity Income UCITS ETF (GINC.L) is 2.36%, while First Trust US Equity Income UCITS ETF Class B (UNCU.L) has a volatility of 4.27%. This indicates that GINC.L experiences smaller price fluctuations and is considered to be less risky than UNCU.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.LUNCU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.36%

4.27%

-1.91%

Volatility (6M)

Calculated over the trailing 6-month period

7.63%

9.90%

-2.27%

Volatility (1Y)

Calculated over the trailing 1-year period

10.25%

13.35%

-3.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.44%

17.37%

-4.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.28%

21.93%

-6.65%

Dividends

GINC.L vs. UNCU.L - Dividend Comparison

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

PositionTTM202520242023202220212020201920182017
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%
UNCU.L
First Trust US Equity Income UCITS ETF Class B		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

GINC.L and UNCU.L have a correlation of 0.40, 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 UNCU.L tracks First Trust US Equity Income UCITS ETF Class B.

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