MGOV vs. GRID
MGOV (First Trust Intermediate Government Opportunities ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - MGOV is a Government Bonds fund actively managed by First Trust, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. MGOV is actively managed, while GRID is passively managed. Over the past year, MGOV returned 6.09% vs 50.60% for GRID. At a 0.20 correlation, their price movements are largely independent. MGOV charges 0.65%/yr vs 0.70%/yr for GRID.
Performance
MGOV vs. GRID - Performance Comparison
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Returns By Period
In the year-to-date period, MGOV achieves a 0.34% return, which is significantly lower than GRID's 28.82% return.
MGOV
- 1D
- 0.15%
- 1M
- -0.05%
- YTD
- 0.34%
- 6M
- 0.29%
- 1Y
- 6.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GRID
- 1D
- -0.07%
- 1M
- 1.81%
- YTD
- 28.82%
- 6M
- 28.40%
- 1Y
- 50.60%
- 3Y*
- 26.57%
- 5Y*
- 17.83%
- 10Y*
- 19.50%
MGOV vs. GRID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 0.34% | 8.54% | 1.55% | 4.56% |
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 28.82% | 29.65% | 15.18% | 3.32% |
Correlation
The correlation between MGOV and GRID is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2023 | 0.20 |
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Return for Risk
MGOV vs. GRID — Risk / Return Rank
MGOV
GRID
MGOV vs. GRID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Government Opportunities ETF (MGOV) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (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.
| MGOV | GRID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.44 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 4.34 | -2.60 |
| Martin ratioReturn relative to average drawdown | 5.28 | 16.40 | -11.13 |
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
| MGOV | GRID | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 2.62 | -1.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.85 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.57 | +0.32 |
Drawdowns
MGOV vs. GRID - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for MGOV and GRID.
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Drawdown Indicators
| MGOV | GRID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -40.56% | +34.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -11.73% | +8.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.77% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.56% | — |
Current DrawdownCurrent decline from peak | -2.23% | -1.40% | -0.83% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -8.43% | +6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 3.09% | -1.93% |
Volatility
MGOV vs. GRID - Volatility Comparison
The current volatility for First Trust Intermediate Government Opportunities ETF (MGOV) is 1.71%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 7.75%. This indicates that MGOV 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
| MGOV | GRID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 7.75% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 16.08% | -12.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.64% | 19.38% | -14.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 21.00% | -15.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.95% | 22.80% | -16.85% |
MGOV vs. GRID - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is lower than GRID's 0.70% expense ratio.
Dividends
MGOV vs. GRID - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.97%, 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 Fund | 0.77% | 1.01% | 1.06% | 1.23% | 1.26% | 0.63% | 0.68% | 1.26% | 1.28% | 1.07% | 1.07% | 1.23% |
MGOV First Trust Intermediate Government Opportunities ETF | 4.97% | 4.95% | 5.05% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MGOV and GRID have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRID has higher volatility (7.75%) compared to MGOV (1.71%). In terms of maximum drawdown, MGOV dropped -6.11% vs GRID's -40.56%.
On 1-year performance, GRID leads with 50.60% vs 6.09% for MGOV. On fees, MGOV is cheaper at 0.65% per year. On volatility, MGOV has been the lower-risk option at 1.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GRID has performed better with a 50.60% return vs 6.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGOV is cheaper with a 0.65% expense ratio, compared with 0.70% for GRID.
MGOV has the higher dividend yield at 4.97%, compared with 0.77% for GRID.
MGOV is categorized as Government Bonds, while GRID is Alternative Energy Equities. Their fees differ too: 0.65% for MGOV and 0.70% for GRID.
GRID currently has the higher Sharpe Ratio (2.62 vs 1.33), 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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