MGOV vs. QCLN
MGOV (First Trust Intermediate Government Opportunities ETF) and QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) are both exchange-traded funds - MGOV is a Government Bonds fund actively managed by First Trust, while QCLN is a Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy. MGOV is actively managed, while QCLN is passively managed. Over the past year, MGOV returned 6.09% vs 117.87% for QCLN. At a 0.16 correlation, their price movements are largely independent. MGOV charges 0.65%/yr vs 0.60%/yr for QCLN.
Performance
MGOV vs. QCLN - 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 QCLN's 52.00% return.
MGOV
- 1D
- 0.15%
- 1M
- -0.05%
- YTD
- 0.34%
- 6M
- 0.29%
- 1Y
- 6.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
QCLN
- 1D
- -0.62%
- 1M
- 13.54%
- YTD
- 52.00%
- 6M
- 46.53%
- 1Y
- 117.87%
- 3Y*
- 12.00%
- 5Y*
- 2.04%
- 10Y*
- 17.14%
MGOV vs. QCLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MGOV First Trust Intermediate Government Opportunities ETF | 0.34% | 8.54% | 1.55% | 4.56% |
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund | 52.00% | 31.81% | -18.86% | -17.17% |
Correlation
The correlation between MGOV and QCLN is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Aug 4, 2023 | 0.16 |
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Return for Risk
MGOV vs. QCLN — Risk / Return Rank
MGOV
QCLN
MGOV vs. QCLN - 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 Green Energy Index Fund (QCLN). 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 | QCLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.84 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.47 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.73 | 7.48 | -5.74 |
| Martin ratioReturn relative to average drawdown | 5.28 | 25.77 | -20.50 |
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 | QCLN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 3.42 | -2.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.05 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.49 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.20 | +0.69 |
Drawdowns
MGOV vs. QCLN - Drawdown Comparison
The maximum MGOV drawdown since its inception was -6.11%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for MGOV and QCLN.
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Drawdown Indicators
| MGOV | QCLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -76.18% | +70.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -15.86% | +12.33% |
Max Drawdown (3Y)Largest decline over 3 years | — | -56.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -69.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.73% | — |
Current DrawdownCurrent decline from peak | -2.23% | -21.47% | +19.24% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -43.44% | +41.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 4.59% | -3.43% |
Volatility
MGOV vs. QCLN - Volatility Comparison
The current volatility for First Trust Intermediate Government Opportunities ETF (MGOV) is 1.71%, while First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a volatility of 12.57%. This indicates that MGOV experiences smaller price fluctuations and is considered to be less risky than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGOV | QCLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 12.57% | -10.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.22% | 26.03% | -22.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.64% | 34.68% | -30.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.95% | 37.96% | -32.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.95% | 34.90% | -28.95% |
MGOV vs. QCLN - Expense Ratio Comparison
MGOV has a 0.65% expense ratio, which is higher than QCLN's 0.60% expense ratio.
Dividends
MGOV vs. QCLN - Dividend Comparison
MGOV's dividend yield for the trailing twelve months is around 4.97%, more than QCLN's 0.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund | 0.15% | 0.25% | 0.87% | 0.76% | 0.33% | 0.01% | 0.30% | 0.85% | 1.03% | 0.45% | 1.24% | 0.72% |
Frequently Asked Questions
MGOV and QCLN have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QCLN has higher volatility (12.57%) compared to MGOV (1.71%). In terms of maximum drawdown, MGOV dropped -6.11% vs QCLN's -76.18%.
On 1-year performance, QCLN leads with 117.87% vs 6.09% for MGOV. On fees, QCLN is cheaper at 0.60% 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, QCLN has performed better with a 117.87% return vs 6.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QCLN is cheaper with a 0.60% expense ratio, compared with 0.65% for MGOV.
MGOV has the higher dividend yield at 4.97%, compared with 0.15% for QCLN.
MGOV is categorized as Government Bonds, while QCLN is Alternative Energy Equities. Their fees differ too: 0.65% for MGOV and 0.60% for QCLN.
QCLN currently has the higher Sharpe Ratio (3.42 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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