UCON vs. CIBR

Last updated Jun 3, 2026

UCON (First Trust TCW Unconstrained Plus Bond ETF) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - UCON is a Nontraditional Bonds fund actively managed by First Trust, while CIBR is a Technology Equities fund tracking the Nasdaq CTA Cybersecurity Index. UCON is actively managed, while CIBR is passively managed. Over the past 5 years, UCON returned 2.82%/yr vs 17.20%/yr for CIBR. At a 0.16 correlation, their price movements are largely independent. UCON charges 0.86%/yr vs 0.60%/yr for CIBR.

Performance

UCON vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust TCW Unconstrained Plus Bond ETF (UCON) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UCON achieves a 0.83% return, which is significantly lower than CIBR's 32.24% return.

UCON

• 1D: 0.04%
• 1M: 0.42%
• YTD: 0.83%
• 6M: 1.07%
• 1Y: 5.80%
• 3Y*: 5.77%
• 5Y*: 2.82%
• 10Y*: —

CIBR

• 1D: 0.18%
• 1M: 37.17%
• YTD: 32.24%
• 6M: 29.33%
• 1Y: 30.75%
• 3Y*: 29.54%
• 5Y*: 17.20%
• 10Y*: 18.83%

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

UCON vs. CIBR - 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%
CIBR First Trust NASDAQ Cybersecurity ETF	32.24%	13.06%	18.21%	39.71%	-26.46%	19.67%	50.53%	28.52%	-13.54%

Correlation

The correlation between UCON and CIBR is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018	0.16

UCON vs. CIBR - Sectors Allocation Comparison

Sectors	UCON	CIBR
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	2.6%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	3.5%
Real Estate	-	-
Technology	-	94.0%

Return for Risk

UCON vs. CIBR — Risk / Return Rank

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

UCON

UCON Risk / Return Rank: 55
UCON Sharpe Ratio Rank: 57
UCON Sortino Ratio Rank: 59
UCON Omega Ratio Rank: 60
UCON Calmar Ratio Rank: 45
UCON Martin Ratio Rank: 52

CIBR

CIBR Risk / Return Rank: 32
CIBR Sharpe Ratio Rank: 35
CIBR Sortino Ratio Rank: 34
CIBR Omega Ratio Rank: 35
CIBR Calmar Ratio Rank: 30
CIBR Martin Ratio Rank: 25

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.

UCON vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust TCW Unconstrained Plus Bond ETF (UCON) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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	CIBR	Difference
Sharpe ratio Return per unit of total volatility	1.96	1.27	+0.69
Sortino ratio Return per unit of downside risk	2.81	1.82	+0.99
Omega ratio Gain probability vs. loss probability	1.37	1.23	+0.14
Calmar ratio Return relative to maximum drawdown	2.29	1.46	+0.84
Martin ratio Return relative to average drawdown	8.94	3.47	+5.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UCON vs. CIBR - Sharpe Ratio Comparison

The current UCON Sharpe Ratio is 1.96, which is higher than the CIBR Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of UCON and CIBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	UCON	CIBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	1.27	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.69	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.68	-0.04

Drawdowns

UCON vs. CIBR - Drawdown Comparison

The maximum UCON drawdown since its inception was -15.31%, smaller than the maximum CIBR drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for UCON and CIBR.

Drawdown Indicators

	UCON	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-33.89%	+18.58%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-21.99%	+19.54%
Max Drawdown (3Y) Largest decline over 3 years	-2.85%	-21.99%	+19.14%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-33.89%	+24.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.89%	—
Current Drawdown Current decline from peak	-0.37%	0.00%	-0.37%
Average Drawdown Average peak-to-trough decline	-1.48%	-8.66%	+7.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	9.25%	-8.62%

Volatility

UCON vs. CIBR - Volatility Comparison

The current volatility for First Trust TCW Unconstrained Plus Bond ETF (UCON) is 1.13%, while First Trust NASDAQ Cybersecurity ETF (CIBR) has a volatility of 9.99%. This indicates that UCON experiences smaller price fluctuations and is considered to be less risky than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCON	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	9.99%	-8.86%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	20.72%	-18.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	24.34%	-21.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.89%	24.93%	-21.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	23.58%	-17.69%

UCON vs. CIBR - Expense Ratio Comparison

UCON has a 0.86% expense ratio, which is higher than CIBR's 0.60% expense ratio.

Dividends

UCON vs. CIBR - Dividend Comparison

UCON's dividend yield for the trailing twelve months is around 4.65%, more than CIBR's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.43%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
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

Can I hold both UCON and CIBR in my portfolio?

UCON and CIBR have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UCON or CIBR?

CIBR has higher volatility (9.99%) compared to UCON (1.13%). In terms of maximum drawdown, UCON dropped -15.31% vs CIBR's -33.89%.

Which ETF is better, UCON or CIBR?

On 5-year performance, CIBR leads with 17.20% vs 2.82% for UCON. On fees, CIBR is cheaper at 0.60% per year. On volatility, UCON has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UCON or CIBR?

Over the 5-year period, CIBR has performed better with a 17.20% return vs 2.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UCON or CIBR?

CIBR is cheaper with a 0.60% expense ratio, compared with 0.86% for UCON.

Which ETF pays a higher dividend yield, UCON or CIBR?

UCON has the higher dividend yield at 4.65%, compared with 0.43% for CIBR.

What is the main difference between UCON and CIBR?

UCON is categorized as Nontraditional Bonds, while CIBR is Technology Equities. Their fees differ too: 0.86% for UCON and 0.60% for CIBR.

Which has better risk-adjusted returns?

UCON currently has the higher Sharpe Ratio (1.96 vs 1.27), 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.