UCON vs. AGZD
UCON (First Trust TCW Unconstrained Plus Bond ETF) and AGZD (WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund) are both Nontraditional Bonds funds. UCON is actively managed, while AGZD is passively managed. Over the past 5 years, UCON returned 2.82%/yr vs 4.37%/yr for AGZD. At a correlation of -0.01, they often move in opposite directions. UCON charges 0.86%/yr vs 0.23%/yr for AGZD.
Performance
UCON vs. AGZD - Performance Comparison
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Returns By Period
In the year-to-date period, UCON achieves a 0.83% return, which is significantly lower than AGZD's 2.40% return.
UCON
- 1D
- 0.04%
- 1M
- 0.42%
- YTD
- 0.83%
- 6M
- 1.07%
- 1Y
- 5.80%
- 3Y*
- 5.77%
- 5Y*
- 2.82%
- 10Y*
- —
AGZD
- 1D
- 0.05%
- 1M
- 0.73%
- YTD
- 2.40%
- 6M
- 3.10%
- 1Y
- 5.40%
- 3Y*
- 6.08%
- 5Y*
- 4.37%
- 10Y*
- 3.17%
UCON vs. AGZD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.83% | 7.00% | 4.69% | 7.72% | -5.72% | 1.02% | 6.54% | 7.39% | 1.11% |
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 2.40% | 4.35% | 6.64% | 7.15% | 1.17% | 0.69% | 0.31% | 4.65% | 0.26% |
Correlation
The correlation between UCON and AGZD is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018 | -0.01 |
The correlation between UCON and AGZD shifts across timeframes, from -0.05 (5 years) to 0.05 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCON vs. AGZD — Risk / Return Rank
UCON
AGZD
UCON vs. AGZD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust TCW Unconstrained Plus Bond ETF (UCON) and WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD). 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.
| UCON | AGZD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.96 | 1.88 | +0.08 |
Sortino ratioReturn per unit of downside risk | 2.81 | 2.79 | +0.02 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.29 | 6.28 | -3.99 |
Martin ratioReturn relative to average drawdown | 8.94 | 19.78 | -10.84 |
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
| UCON | AGZD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.88 | +0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.22 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.86 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.65 | -0.01 |
Drawdowns
UCON vs. AGZD - Drawdown Comparison
The maximum UCON drawdown since its inception was -15.31%, which is greater than AGZD's maximum drawdown of -8.46%. Use the drawdown chart below to compare losses from any high point for UCON and AGZD.
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Drawdown Indicators
| UCON | AGZD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -8.46% | -6.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -0.87% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -2.85% | -1.71% | -1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -2.23% | -7.37% |
Max Drawdown (10Y)Largest decline over 10 years | — | -8.46% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.22% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -1.48% | -0.77% | -0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 0.28% | +0.35% |
Volatility
UCON vs. AGZD - Volatility Comparison
First Trust TCW Unconstrained Plus Bond ETF (UCON) has a higher volatility of 1.13% compared to WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund (AGZD) at 1.02%. This indicates that UCON's price experiences larger fluctuations and is considered to be riskier than AGZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCON | AGZD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.02% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 1.99% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.98% | 2.88% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.89% | 3.58% | +0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.89% | 3.72% | +2.17% |
UCON vs. AGZD - Expense Ratio Comparison
UCON has a 0.86% expense ratio, which is higher than AGZD's 0.23% expense ratio.
Dividends
UCON vs. AGZD - Dividend Comparison
UCON's dividend yield for the trailing twelve months is around 4.65%, more than AGZD's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGZD WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund | 3.98% | 4.12% | 3.96% | 6.07% | 8.61% | 1.66% | 2.28% | 2.83% | 2.62% | 2.31% | 1.81% | 1.66% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 4.65% | 4.63% | 4.95% | 4.75% | 3.12% | 2.20% | 3.14% | 3.25% | 1.76% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UCON and AGZD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCON has higher volatility (1.13%) compared to AGZD (1.02%). In terms of maximum drawdown, UCON dropped -15.31% vs AGZD's -8.46%.
On 5-year performance, AGZD leads with 4.37% vs 2.82% for UCON. On fees, AGZD is cheaper at 0.23% per year. On volatility, AGZD has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, AGZD has performed better with a 4.37% return vs 2.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGZD is cheaper with a 0.23% expense ratio, compared with 0.86% for UCON.
UCON has the higher dividend yield at 4.65%, compared with 3.98% for AGZD.
They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.86% for UCON and 0.23% for AGZD.
UCON currently has the higher Sharpe Ratio (1.96 vs 1.88), 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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