MFLX vs. IGLD
MFLX (First Trust Flexible Municipal High Income ETF) and IGLD (FT Cboe Vest Gold Strategy Target Income ETF) are both exchange-traded funds - MFLX is a Municipal Bonds fund actively managed by First Trust, while IGLD is a Precious Metals fund actively managed by First Trust. Both are actively managed. Over the past 5 years, MFLX returned -0.03%/yr vs 13.02%/yr for IGLD. At a 0.10 correlation, their price movements are largely independent. MFLX charges 0.88%/yr vs 0.85%/yr for IGLD.
Performance
MFLX vs. IGLD - Performance Comparison
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Returns By Period
In the year-to-date period, MFLX achieves a 3.33% return, which is significantly higher than IGLD's 1.69% return.
MFLX
- 1D
- -0.06%
- 1M
- 1.21%
- YTD
- 3.33%
- 6M
- 3.84%
- 1Y
- 9.22%
- 3Y*
- 5.48%
- 5Y*
- -0.03%
- 10Y*
- —
IGLD
- 1D
- -0.81%
- 1M
- -1.33%
- YTD
- 1.69%
- 6M
- 4.44%
- 1Y
- 24.53%
- 3Y*
- 23.01%
- 5Y*
- 13.02%
- 10Y*
- —
MFLX vs. IGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MFLX First Trust Flexible Municipal High Income ETF | 3.33% | 3.94% | 3.74% | 8.98% | -19.94% | 8.67% |
IGLD FT Cboe Vest Gold Strategy Target Income ETF | 1.69% | 47.46% | 19.36% | 9.24% | -2.34% | 4.30% |
Correlation
The correlation between MFLX and IGLD is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2021 | 0.10 |
The correlation between MFLX and IGLD shifts across timeframes, from 0.06 (3 years) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MFLX vs. IGLD — Risk / Return Rank
MFLX
IGLD
MFLX vs. IGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Flexible Municipal High Income ETF (MFLX) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD). 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.
| MFLX | IGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.22 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.40 | +1.57 |
| Martin ratioReturn relative to average drawdown | 11.95 | 3.82 | +8.12 |
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
| MFLX | IGLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | 1.06 | +1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | 0.86 | -0.87 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.94 | -0.75 |
Drawdowns
MFLX vs. IGLD - Drawdown Comparison
The maximum MFLX drawdown since its inception was -26.76%, which is greater than IGLD's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for MFLX and IGLD.
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Drawdown Indicators
| MFLX | IGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.76% | -18.59% | -8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -17.56% | +14.45% |
Max Drawdown (3Y)Largest decline over 3 years | -8.18% | -17.56% | +9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -18.59% | -7.29% |
Current DrawdownCurrent decline from peak | -3.78% | -15.16% | +11.38% |
Average DrawdownAverage peak-to-trough decline | -8.17% | -5.24% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 6.43% | -5.66% |
Volatility
MFLX vs. IGLD - Volatility Comparison
The current volatility for First Trust Flexible Municipal High Income ETF (MFLX) is 1.41%, while FT Cboe Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 5.12%. This indicates that MFLX experiences smaller price fluctuations and is considered to be less risky than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFLX | IGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 5.12% | -3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 21.01% | -18.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.08% | 23.24% | -19.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.36% | 15.17% | -4.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.29% | 15.00% | -3.71% |
MFLX vs. IGLD - Expense Ratio Comparison
MFLX has a 0.88% expense ratio, which is higher than IGLD's 0.85% expense ratio.
Dividends
MFLX vs. IGLD - Dividend Comparison
MFLX's dividend yield for the trailing twelve months is around 4.08%, less than IGLD's 17.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IGLD FT Cboe Vest Gold Strategy Target Income ETF | 17.92% | 9.91% | 20.81% | 7.85% | 4.45% | 2.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFLX First Trust Flexible Municipal High Income ETF | 4.08% | 4.06% | 3.81% | 3.65% | 4.27% | 3.69% | 3.21% | 2.94% | 3.74% | 3.80% | 0.98% |
Frequently Asked Questions
MFLX and IGLD have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IGLD has higher volatility (5.12%) compared to MFLX (1.41%). In terms of maximum drawdown, MFLX dropped -26.76% vs IGLD's -18.59%.
On 5-year performance, IGLD leads with 13.02% vs -0.03% for MFLX. On fees, IGLD is cheaper at 0.85% per year. On volatility, MFLX has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IGLD has performed better with a 13.02% return vs -0.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGLD is cheaper with a 0.85% expense ratio, compared with 0.88% for MFLX.
IGLD has the higher dividend yield at 17.92%, compared with 4.08% for MFLX.
MFLX is categorized as Municipal Bonds, while IGLD is Precious Metals. Their fees differ too: 0.88% for MFLX and 0.85% for IGLD.
MFLX currently has the higher Sharpe Ratio (2.27 vs 1.06), 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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