HYKE vs. UCON

Last updated Jun 5, 2026

HYKE (Vest 2 Year Interest Rate Hedge ETF) and UCON (First Trust TCW Unconstrained Plus Bond ETF) are both Nontraditional Bonds funds. Both are actively managed. HYKE charges 0.85%/yr vs 0.86%/yr for UCON.

Performance

HYKE vs. UCON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vest 2 Year Interest Rate Hedge ETF (HYKE) and First Trust TCW Unconstrained Plus Bond ETF (UCON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HYKE

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UCON

• 1D: 0.16%
• 1M: 0.38%
• YTD: 0.74%
• 6M: 0.91%
• 1Y: 5.33%
• 3Y*: 5.71%
• 5Y*: 2.79%
• 10Y*: —

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

HYKE vs. UCON - Yearly Performance Comparison

	2026 (YTD)
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%
UCON First Trust TCW Unconstrained Plus Bond ETF	1.81%

Return for Risk

HYKE vs. UCON — Risk / Return Rank

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

UCON

UCON Risk / Return Rank: 52
UCON Sharpe Ratio Rank: 54
UCON Sortino Ratio Rank: 54
UCON Omega Ratio Rank: 56
UCON Calmar Ratio Rank: 45
UCON Martin Ratio Rank: 50

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.

HYKE vs. UCON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vest 2 Year Interest Rate Hedge ETF (HYKE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HYKE	UCON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.80	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.64	—

Drawdowns

HYKE vs. UCON - Drawdown Comparison

The maximum HYKE drawdown since its inception was 0.00%, smaller than the maximum UCON drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for HYKE and UCON.

Drawdown Indicators

	HYKE	UCON	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-15.31%	+15.31%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.60%	—
Current Drawdown Current decline from peak	0.00%	-0.45%	+0.45%
Average Drawdown Average peak-to-trough decline	0.00%	-1.48%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.63%	—

Volatility

Volatility by Period

	HYKE	UCON	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.14%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.98%	-2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	3.89%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	5.89%	-5.89%

HYKE vs. UCON - Expense Ratio Comparison

HYKE has a 0.85% expense ratio, which is lower than UCON's 0.86% expense ratio.

Dividends

HYKE vs. UCON - Dividend Comparison

HYKE has not paid dividends to shareholders, while UCON's dividend yield for the trailing twelve months is around 4.66%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HYKE Vest 2 Year Interest Rate Hedge ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UCON First Trust TCW Unconstrained Plus Bond ETF	4.66%	4.63%	4.95%	4.75%	3.12%	2.20%	3.14%	3.25%	1.76%

Frequently Asked Questions

Which ETF is better, HYKE or UCON?

On fees, HYKE is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYKE or UCON?

HYKE is cheaper with a 0.85% expense ratio, compared with 0.86% for UCON.

Which ETF pays a higher dividend yield, HYKE or UCON?

UCON has the higher dividend yield at 4.66%, compared with 0.00% for HYKE.

What is the main difference between HYKE and UCON?

They also come from different issuers: Cboe Vest and First Trust. Their fees differ too: 0.85% for HYKE and 0.86% for UCON.