MGOV vs. PTL

Last updated Aug 5, 2026

MGOV (First Trust Intermediate Government Opportunities ETF) and PTL (Inspire 500 ETF) are both exchange-traded funds - MGOV is a Government Bonds fund actively managed by First Trust, while PTL is a Large Cap Blend Equities fund tracking the Inspire 500 Index. MGOV is actively managed, while PTL is passively managed. Over the past year, MGOV returned 3.18% vs 23.53% for PTL. Their 0.20 correlation means their historical movements had little consistent relationship. MGOV charges 0.65%/yr vs 0.09%/yr for PTL.

Performance

MGOV vs. PTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Intermediate Government Opportunities ETF (MGOV) and Inspire 500 ETF (PTL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGOV achieves a -0.08% return, which is significantly lower than PTL's 17.26% 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%

PTL

• 1D: 2.82%
• 1M: 2.81%
• 6M: 13.40%
• YTD: 17.26%
• 1Y: 23.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MGOV First Trust Intermediate Government Opportunities ETF	$301.27K	$575.46K	$601.44K
PTL Inspire 500 ETF	$4.28M	$5.28M	$10.62M

MGOV vs. PTL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MGOV First Trust Intermediate Government Opportunities ETF	-0.08%	8.54%	2.48%
PTL Inspire 500 ETF	17.26%	17.92%	7.22%

Correlation

The correlation between MGOV and PTL is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (All Time) Calculated using the full available price history since Mar 26, 2024	0.20

The correlation between MGOV and PTL shifts across timeframes, from 0.20 (all time) to 0.31 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MGOV vs. PTL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MGOV

MGOV Risk / Return Rank: 26
MGOV Sharpe Ratio Rank: 28
MGOV Sortino Ratio Rank: 26
MGOV Omega Ratio Rank: 24
MGOV Calmar Ratio Rank: 26
MGOV Martin Ratio Rank: 25

PTL

PTL Risk / Return Rank: 60
PTL Sharpe Ratio Rank: 53
PTL Sortino Ratio Rank: 52
PTL Omega Ratio Rank: 51
PTL Calmar Ratio Rank: 78
PTL Martin Ratio Rank: 69

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MGOV vs. PTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Intermediate Government Opportunities ETF (MGOV) and Inspire 500 ETF (PTL). 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	PTL	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.48	-0.75
Sortino ratio: Return per unit of downside risk	1.07	2.08	-1.01
Omega ratio: Gain probability vs. loss probability	1.13	1.26	-0.14
Calmar ratio: Return relative to maximum drawdown	0.90	3.12	-2.22
Martin ratio: Return relative to average drawdown	2.18	9.50	-7.33

MGOV vs. PTL - Sharpe Ratio Comparison

The current MGOV Sharpe Ratio is 0.73, which is lower than the PTL Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of MGOV and PTL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MGOV vs. PTL - Drawdown Comparison

The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum PTL drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for MGOV and PTL.

Drawdown Indicators

	MGOV	PTL	Difference
Max Drawdown Largest peak-to-trough decline	-6.11%	-19.72%	+13.61%
Max Drawdown (1Y) Largest decline over 1 year	-3.53%	-7.57%	+4.04%
Max Drawdown (3Y) Largest decline over 3 years	-6.11%	—	—
Current Drawdown Current decline from peak	-2.63%	-0.66%	-1.97%
Average Drawdown Average peak-to-trough decline	-1.65%	-2.53%	+0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	2.48%	-1.02%

Volatility

MGOV vs. PTL - Volatility Comparison

The current volatility for First Trust Intermediate Government Opportunities ETF (MGOV) is 1.31%, while Inspire 500 ETF (PTL) has a volatility of 4.58%. This indicates that MGOV experiences smaller price fluctuations and is considered to be less risky than PTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGOV	PTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.31%	4.58%	-3.27%
Volatility (6M) Calculated over the trailing 6-month period	3.44%	12.49%	-9.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	16.03%	-11.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.87%	17.75%	-11.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.87%	17.75%	-11.88%

MGOV vs. PTL - Expense Ratio Comparison

MGOV has a 0.65% expense ratio, which is higher than PTL's 0.09% expense ratio.

Dividends

MGOV vs. PTL - Dividend Comparison

MGOV's dividend yield for the trailing twelve months is around 4.92%, more than PTL's 1.12% yield.

Position	TTM	2025	2024	2023
MGOV First Trust Intermediate Government Opportunities ETF	4.92%	4.95%	5.05%	1.47%
PTL Inspire 500 ETF	1.12%	1.24%	0.92%	0.00%

Frequently Asked Questions

Can I hold both MGOV and PTL in my portfolio?

MGOV and PTL have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGOV or PTL?

PTL has higher volatility (4.58%) compared to MGOV (1.31%). In terms of maximum drawdown, MGOV dropped -6.11% vs PTL's -19.72%.

Which ETF is better, MGOV or PTL?

On 1-year performance, PTL leads with 23.53% vs 3.18% for MGOV. On fees, PTL is cheaper at 0.09% 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.

Which ETF has performed better, MGOV or PTL?

Over the 1-year period, PTL has performed better with a 23.53% return vs 3.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGOV or PTL?

PTL is cheaper with a 0.09% expense ratio, compared with 0.65% for MGOV.

Which ETF pays a higher dividend yield, MGOV or PTL?

MGOV has the higher dividend yield at 4.92%, compared with 1.12% for PTL.

What is the main difference between MGOV and PTL?

MGOV is categorized as Government Bonds, while PTL is Large Cap Blend Equities. They also come from different issuers: First Trust and Inspire. Their fees differ too: 0.65% for MGOV and 0.09% for PTL.

Which has better risk-adjusted returns?

PTL currently has the higher Sharpe Ratio (1.48 vs 0.73), 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.