MISL vs. IGLD

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Indxx Aerospace & Defense ETF (MISL) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD).

MISL and IGLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MISL is a passively managed fund by First Trust that tracks the performance of the Indxx US Aerospace & Defense Index - Benchmark TR Gross. It was launched on Oct 25, 2022. IGLD is an actively managed fund by First Trust. It was launched on Mar 2, 2021.

Performance

MISL vs. IGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Indxx Aerospace & Defense ETF (MISL) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD). The values are adjusted to include any dividend payments, if applicable.

MISL vs. IGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MISL First Trust Indxx Aerospace & Defense ETF	6.94%	41.24%	20.48%	14.78%	8.22%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	7.26%	47.46%	19.36%	9.24%	5.79%

Returns By Period

The year-to-date returns for both investments are quite close, with MISL having a 6.94% return and IGLD slightly higher at 7.26%.

MISL

• 1D: 2.28%
• 1M: -9.73%
• YTD: 6.94%
• 6M: 9.60%
• 1Y: 51.50%
• 3Y*: 27.55%
• 5Y*: —
• 10Y*: —

IGLD

• 1D: 1.19%
• 1M: -10.51%
• YTD: 7.26%
• 6M: 18.12%
• 1Y: 40.06%
• 3Y*: 24.96%
• 5Y*: 15.78%
• 10Y*: —

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

MISL vs. IGLD - Expense Ratio Comparison

MISL has a 0.60% expense ratio, which is lower than IGLD's 0.85% expense ratio.

IGLD

FT Cboe Vest Gold Strategy Target Income ETF

MISL

First Trust Indxx Aerospace & Defense ETF

Return for Risk

MISL vs. IGLD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MISL

MISL Risk / Return Rank: 91
MISL Sharpe Ratio Rank: 92
MISL Sortino Ratio Rank: 93
MISL Omega Ratio Rank: 88
MISL Calmar Ratio Rank: 91
MISL Martin Ratio Rank: 90

IGLD

IGLD Risk / Return Rank: 82
IGLD Sharpe Ratio Rank: 83
IGLD Sortino Ratio Rank: 81
IGLD Omega Ratio Rank: 83
IGLD Calmar Ratio Rank: 80
IGLD Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MISL vs. IGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Aerospace & Defense ETF (MISL) 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.

	MISL	IGLD	Difference
Sharpe ratio Return per unit of total volatility	2.15	1.69	+0.45
Sortino ratio Return per unit of downside risk	2.87	2.17	+0.70
Omega ratio Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio Return relative to maximum drawdown	3.34	2.27	+1.07
Martin ratio Return relative to average drawdown	12.29	9.64	+2.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MISL vs. IGLD - Sharpe Ratio Comparison

The current MISL Sharpe Ratio is 2.15, which is comparable to the IGLD Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MISL and IGLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MISL	IGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	1.69	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.45	1.06	+0.38

Correlation

The correlation between MISL and IGLD is 0.14, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MISL vs. IGLD - Dividend Comparison

MISL's dividend yield for the trailing twelve months is around 0.36%, less than IGLD's 13.93% yield.

	TTM	2025	2024	2023	2022	2021
MISL First Trust Indxx Aerospace & Defense ETF	0.36%	0.40%	0.74%	0.63%	0.08%	0.00%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	13.93%	9.91%	20.81%	7.85%	4.45%	2.24%

Drawdowns

MISL vs. IGLD - Drawdown Comparison

The maximum MISL drawdown since its inception was -17.91%, roughly equal to the maximum IGLD drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for MISL and IGLD.

Drawdown Indicators

	MISL	IGLD	Difference
Max Drawdown Largest peak-to-trough decline	-17.91%	-18.59%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-15.45%	-17.56%	+2.11%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.59%	—
Current Drawdown Current decline from peak	-10.30%	-10.51%	+0.21%
Average Drawdown Average peak-to-trough decline	-3.17%	-5.01%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	4.13%	+0.07%

Volatility

MISL vs. IGLD - Volatility Comparison

The current volatility for First Trust Indxx Aerospace & Defense ETF (MISL) is 8.47%, while FT Cboe Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 10.62%. This indicates that MISL 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.

Volatility by Period

	MISL	IGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.47%	10.62%	-2.15%
Volatility (6M) Calculated over the trailing 6-month period	17.76%	21.23%	-3.47%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	23.76%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	14.90%	+3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	14.86%	+3.84%