LGOV vs. GRID
LGOV (First Trust Long Duration Opportunities ETF) and GRID (First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index) are both exchange-traded funds - LGOV is a Mortgage Backed Securities fund actively managed by First Trust, while GRID is a Alternative Energy Equities fund tracking the NASDAQ OMX Clean Edge Smart Grid Infrastructure Index. LGOV is actively managed, while GRID is passively managed. Over the past 5 years, LGOV returned -1.74%/yr vs 17.84%/yr for GRID. At a 0.02 correlation, their price movements are largely independent. Both charge a 0.70% expense ratio.
Performance
LGOV vs. GRID - Performance Comparison
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Returns By Period
In the year-to-date period, LGOV achieves a -0.60% return, which is significantly lower than GRID's 28.91% return.
LGOV
- 1D
- -0.58%
- 1M
- 0.01%
- YTD
- -0.60%
- 6M
- -1.29%
- 1Y
- 5.85%
- 3Y*
- 2.47%
- 5Y*
- -1.74%
- 10Y*
- —
GRID
- 1D
- -0.17%
- 1M
- 3.85%
- YTD
- 28.91%
- 6M
- 29.60%
- 1Y
- 51.55%
- 3Y*
- 26.27%
- 5Y*
- 17.84%
- 10Y*
- 19.76%
LGOV vs. GRID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LGOV First Trust Long Duration Opportunities ETF | -0.60% | 9.13% | -2.05% | 4.91% | -19.73% | -1.93% | 11.31% | 11.53% |
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | 28.91% | 29.65% | 15.18% | 21.57% | -13.89% | 27.65% | 48.84% | 33.93% |
Correlation
The correlation between LGOV and GRID is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 24, 2019 | 0.02 |
Over the past year, LGOV and GRID have become more correlated (0.26) than their long-term average of 0.02, meaning their price movements have been converging.
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Return for Risk
LGOV vs. GRID — Risk / Return Rank
LGOV
GRID
LGOV vs. GRID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Long Duration Opportunities ETF (LGOV) and First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID). 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.
| LGOV | GRID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.83 | ||
| Sortino ratioReturn per unit of downside risk | -2.25 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.45 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 1.05 | 4.42 | -3.37 |
| Martin ratioReturn relative to average drawdown | 3.08 | 16.72 | -13.63 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LGOV | GRID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 2.67 | -1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.85 | -1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.87 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.57 | -0.45 |
Drawdowns
LGOV vs. GRID - Drawdown Comparison
The maximum LGOV drawdown since its inception was -30.86%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for LGOV and GRID.
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Drawdown Indicators
| LGOV | GRID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.86% | -40.56% | +9.70% |
Max Drawdown (1Y)Largest decline over 1 year | -5.62% | -11.73% | +6.11% |
Max Drawdown (3Y)Largest decline over 3 years | -12.54% | -20.77% | +8.23% |
Max Drawdown (5Y)Largest decline over 5 years | -28.14% | -29.64% | +1.50% |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.56% | — |
Current DrawdownCurrent decline from peak | -15.30% | -1.33% | -13.97% |
Average DrawdownAverage peak-to-trough decline | -13.08% | -8.43% | -4.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 3.09% | -1.19% |
Volatility
LGOV vs. GRID - Volatility Comparison
The current volatility for First Trust Long Duration Opportunities ETF (LGOV) is 2.71%, while First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index (GRID) has a volatility of 7.95%. This indicates that LGOV experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LGOV | GRID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 7.95% | -5.24% |
Volatility (6M)Calculated over the trailing 6-month period | 5.15% | 16.08% | -10.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 19.39% | -12.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.07% | 21.00% | -11.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 22.81% | -13.57% |
LGOV vs. GRID - Expense Ratio Comparison
Both LGOV and GRID have an expense ratio of 0.70%.
Dividends
LGOV vs. GRID - Dividend Comparison
LGOV's dividend yield for the trailing twelve months is around 4.27%, more than GRID's 0.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRID First Trust Nasdaq Clean Edge Smart GRID Infrastructure Index | 0.77% | 1.01% | 1.06% | 1.23% | 1.26% | 0.63% | 0.68% | 1.26% | 1.28% | 1.07% | 1.07% | 1.23% |
LGOV First Trust Long Duration Opportunities ETF | 4.27% | 4.02% | 4.03% | 3.59% | 1.97% | 2.58% | 3.75% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LGOV and GRID have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRID has higher volatility (7.95%) compared to LGOV (2.71%). In terms of maximum drawdown, LGOV dropped -30.86% vs GRID's -40.56%.
On 5-year performance, GRID leads with 17.84% vs -1.74% for LGOV. Both ETFs have the same 0.70% expense ratio. On volatility, LGOV has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GRID has performed better with a 17.84% return vs -1.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LGOV and GRID have the same expense ratio: 0.70% per year.
LGOV has the higher dividend yield at 4.27%, compared with 0.77% for GRID.
LGOV is categorized as Mortgage Backed Securities, while GRID is Alternative Energy Equities.
GRID currently has the higher Sharpe Ratio (2.67 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.
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