MGOV vs. NFTY
MGOV (First Trust Intermediate Government Opportunities ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both exchange-traded funds - MGOV is a Government Bonds fund actively managed by First Trust, while NFTY is a India Equities fund tracking the NIFTY 50 Equal Weight Index. MGOV is actively managed, while NFTY is passively managed. Over the past 3 years, MGOV returned 4.64%/yr vs 6.73%/yr for NFTY. Their 0.18 correlation means their historical movements had little consistent relationship. MGOV charges 0.65%/yr vs 0.80%/yr for NFTY.
Performance
MGOV vs. NFTY - Performance Comparison
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Returns By Period
In the year-to-date period, MGOV achieves a -0.08% return, which is significantly higher than NFTY's -4.28% return.
MGOV
- 1D
- 0.40%
- 1M
- -0.83%
- 6M
- -0.37%
- YTD
- -0.08%
- 1Y
- 3.18%
- 3Y*
- 4.64%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.81%
NFTY
- 1D
- 0.84%
- 1M
- 2.61%
- 6M
- -3.38%
- YTD
- -4.28%
- 1Y
- -0.22%
- 3Y*
- 6.73%
- 5Y*
- 5.88%
- 10Y*
- 7.63%
- ALL TIME*
- 6.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $301.27K | $575.46K | $601.44K | |
| $2.51M | $1.71M | $1.63M |
MGOV vs. NFTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | -0.08% | 8.54% | 1.55% | 4.56% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | -4.28% | 5.47% | 5.18% | 14.24% |
Correlation
The correlation between MGOV and NFTY is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2023 | 0.18 |
The correlation between MGOV and NFTY shifts across timeframes, from 0.18 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MGOV vs. NFTY — Risk / Return Rank
MGOV
NFTY
MGOV vs. NFTY - 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 India NIFTY 50 Equal Weight ETF (NFTY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGOV | NFTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.01 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | -0.01 | +0.92 |
| Martin ratioReturn relative to average drawdown | 2.18 | -0.03 | +2.21 |
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Drawdowns
MGOV vs. NFTY - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum NFTY drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for MGOV and NFTY.
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Drawdown Indicators
| MGOV | NFTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -47.67% | +41.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -16.14% | +12.61% |
Max Drawdown (3Y)Largest decline over 3 years | -6.11% | -21.55% | +15.44% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.67% | — |
Current DrawdownCurrent decline from peak | -2.63% | -12.50% | +9.87% |
Average DrawdownAverage peak-to-trough decline | -1.65% | -9.65% | +8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 7.00% | -5.54% |
Volatility
MGOV vs. NFTY - Volatility Comparison
The current volatility for First Trust Intermediate Government Opportunities ETF (MGOV) is 1.31%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 3.63%. This indicates that MGOV experiences smaller price fluctuations and is considered to be less risky than NFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGOV | NFTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 3.63% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 3.44% | 12.22% | -8.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 14.87% | -10.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.87% | 17.42% | -11.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.87% | 20.65% | -14.78% |
MGOV vs. NFTY - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is lower than NFTY's 0.80% expense ratio.
Dividends
MGOV vs. NFTY - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.92%, more than NFTY's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 4.92% | 4.95% | 5.05% | 1.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.85% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
MGOV and NFTY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFTY has higher volatility (3.63%) compared to MGOV (1.31%). In terms of maximum drawdown, MGOV dropped -6.11% vs NFTY's -47.67%.
On 3-year performance, NFTY leads with 6.73% vs 4.64% for MGOV. On fees, MGOV is cheaper at 0.65% per year. On volatility, MGOV has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NFTY has performed better with a 6.73% return vs 4.64%. 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 0.80% for NFTY.
MGOV has the higher dividend yield at 4.92%, compared with 1.85% for NFTY.
MGOV is categorized as Government Bonds, while NFTY is India Equities. Their fees differ too: 0.65% for MGOV and 0.80% for NFTY.
MGOV currently has the higher Sharpe Ratio (0.73 vs -0.01), 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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