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IEF vs. FTGC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEF vs. FTGC

Last updated Jun 9, 2026

IEF (iShares 7-10 Year Treasury Bond ETF) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both exchange-traded funds - IEF is a Government Bonds fund tracking the ICE U.S. Treasury 7-10 Year Bond Index, while FTGC is a Commodities fund actively managed by First Trust. IEF is passively managed, while FTGC is actively managed. Over the past 10 years, IEF returned 0.53%/yr vs 7.34%/yr for FTGC. At a correlation of -0.10, they often move in opposite directions. IEF charges 0.15%/yr vs 0.95%/yr for FTGC.

Performance

IEF vs. FTGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 7-10 Year Treasury Bond ETF (IEF) and First Trust Global Tactical Commodity Strategy Fund (FTGC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IEF achieves a -1.16% return, which is significantly lower than FTGC's 23.51% return. Over the past 10 years, IEF has underperformed FTGC with an annualized return of 0.53%, while FTGC has yielded a comparatively higher 7.34% annualized return.

IEF

1D
-0.11%
1M
-1.19%
YTD
-1.16%
6M
-0.96%
1Y
3.91%
3Y*
2.43%
5Y*
-1.34%
10Y*
0.53%

FTGC

1D
-0.03%
1M
-4.09%
YTD
23.51%
6M
23.08%
1Y
35.61%
3Y*
16.53%
5Y*
12.36%
10Y*
7.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEF vs. FTGC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEF
iShares 7-10 Year Treasury Bond ETF		-1.16%8.03%-0.63%3.64%-15.15%-3.33%10.01%8.03%0.99%2.55%
FTGC
First Trust Global Tactical Commodity Strategy Fund		23.51%14.61%9.96%-5.36%17.36%27.95%2.17%6.40%-12.75%2.73%

Correlation

The correlation between IEF and FTGC is -0.22, 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

-0.22

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

-0.10

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

-0.07

Correlation (10Y)
Calculated over the trailing 10-year period

-0.09

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2013

-0.10

The correlation between IEF and FTGC shifts across timeframes, from -0.22 (1 year) to -0.07 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares 7-10 Year Treasury Bond ETF

First Trust Global Tactical Commodity Strategy Fund

Often compared with IEF:
IEF vs. TLTIEF vs. VGITIEF vs. LQDIEF vs. SHYIEF vs. BNDIEF vs. IEIIEF vs. TIP
Often compared with FTGC:
FTGC vs. PDBCFTGC vs. COMTFTGC vs. DBCFTGC vs. FFGCXFTGC vs. USDUFTGC vs. KOLDFTGC vs. DBA

Return for Risk

IEF vs. FTGC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEF
IEF Risk / Return Rank: 2424
Overall Rank
IEF Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
IEF Sortino Ratio Rank: 2525
Sortino Ratio Rank
IEF Omega Ratio Rank: 2323
Omega Ratio Rank
IEF Calmar Ratio Rank: 2323
Calmar Ratio Rank
IEF Martin Ratio Rank: 2323
Martin Ratio Rank
FTGC
FTGC Risk / Return Rank: 7979
Overall Rank
FTGC Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
FTGC Sortino Ratio Rank: 7474
Sortino Ratio Rank
FTGC Omega Ratio Rank: 7575
Omega Ratio Rank
FTGC Calmar Ratio Rank: 8787
Calmar Ratio Rank
FTGC Martin Ratio Rank: 8080
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.

IEF vs. FTGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 7-10 Year Treasury Bond ETF (IEF) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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.

IEFFTGCDifference
Sharpe ratioReturn per unit of total volatility
0.84
2.27

-1.43

Sortino ratioReturn per unit of downside risk
1.26
2.97

-1.71

Omega ratioGain probability vs. loss probability

1.14

1.40

-0.26

Calmar ratioReturn relative to maximum drawdown

0.96

4.52

-3.56

Martin ratioReturn relative to average drawdown

2.79

14.31

-11.52

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEF vs. FTGC - Sharpe Ratio Comparison

The current IEF Sharpe Ratio is 0.84, which is lower than the FTGC Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IEF and FTGC, 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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Sharpe Ratios by Period

IEFFTGCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.84

2.27

-1.43

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.17

0.78

-0.95

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.08

0.50

-0.42

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.22

+0.28

Drawdowns

IEF vs. FTGC - Drawdown Comparison

The maximum IEF drawdown since its inception was -23.93%, smaller than the maximum FTGC drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for IEF and FTGC.

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Drawdown Indicators

IEFFTGCDifference

Max Drawdown

Largest peak-to-trough decline

-23.93%

-59.47%

+35.54%

Max Drawdown (1Y)

Largest decline over 1 year

-4.07%

-7.91%

+3.84%

Max Drawdown (3Y)

Largest decline over 3 years

-7.74%

-10.39%

+2.65%

Max Drawdown (5Y)

Largest decline over 5 years

-21.40%

-22.64%

+1.24%

Max Drawdown (10Y)

Largest decline over 10 years

-23.93%

-35.91%

+11.98%

Current Drawdown

Current decline from peak

-11.80%

-7.38%

-4.42%

Average Drawdown

Average peak-to-trough decline

-5.35%

-27.40%

+22.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.40%

2.50%

-1.10%

Volatility

IEF vs. FTGC - Volatility Comparison

The current volatility for iShares 7-10 Year Treasury Bond ETF (IEF) is 1.51%, while First Trust Global Tactical Commodity Strategy Fund (FTGC) has a volatility of 4.76%. This indicates that IEF experiences smaller price fluctuations and is considered to be less risky than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEFFTGCDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.51%

4.76%

-3.25%

Volatility (6M)

Calculated over the trailing 6-month period

3.36%

13.37%

-10.01%

Volatility (1Y)

Calculated over the trailing 1-year period

4.69%

15.78%

-11.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.71%

15.97%

-8.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.63%

14.72%

-8.09%

IEF vs. FTGC - Expense Ratio Comparison

IEF has a 0.15% expense ratio, which is lower than FTGC's 0.95% expense ratio.

Dividends

IEF vs. FTGC - Dividend Comparison

IEF's dividend yield for the trailing twelve months is around 3.92%, less than FTGC's 15.52% yield.

PositionTTM20252024202320222021202020192018201720162015
FTGC
First Trust Global Tactical Commodity Strategy Fund		15.52%17.74%3.05%3.34%10.35%7.21%0.00%0.81%0.80%1.21%0.00%0.00%
IEF
iShares 7-10 Year Treasury Bond ETF		3.92%3.77%3.62%2.91%1.96%0.83%1.08%2.08%2.24%1.82%1.81%1.90%

Frequently Asked Questions

IEF and FTGC have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FTGC has higher volatility (4.76%) compared to IEF (1.51%). In terms of maximum drawdown, IEF dropped -23.93% vs FTGC's -59.47%.

On 10-year performance, FTGC leads with 7.34% vs 0.53% for IEF. On fees, IEF is cheaper at 0.15% per year. On volatility, IEF has been the lower-risk option at 1.51%. 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 7.34% return vs 0.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEF is cheaper with a 0.15% expense ratio, compared with 0.95% for FTGC.

FTGC has the higher dividend yield at 15.52%, compared with 3.92% for IEF.

IEF is categorized as Government Bonds, while FTGC is Commodities. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.15% for IEF and 0.95% for FTGC.

FTGC currently has the higher Sharpe Ratio (2.27 vs 0.84), 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.

Portfolio Optimizer

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