UCON vs. FSIG
UCON (First Trust TCW Unconstrained Plus Bond ETF) and FSIG (First Trust Limited Duration Investment Grade Corporate ETF) are both exchange-traded funds - UCON is a Nontraditional Bonds fund actively managed by First Trust, while FSIG is a Short-Term Bond fund actively managed by First Trust. Both are actively managed. Over the past 3 years, UCON returned 5.26%/yr vs 5.09%/yr for FSIG. Their 0.65 correlation means they have sometimes moved together and sometimes differently. UCON charges 0.86%/yr vs 0.55%/yr for FSIG.
Performance
UCON vs. FSIG - Performance Comparison
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Returns By Period
In the year-to-date period, UCON achieves a 0.17% return, which is significantly lower than FSIG's 0.46% return.
UCON
- 1D
- -0.08%
- 1M
- -0.90%
- 6M
- -0.03%
- YTD
- 0.17%
- 1Y
- 3.17%
- 3Y*
- 5.26%
- 5Y*
- 2.62%
- 10Y*
- —
- ALL TIME*
- 3.58%
FSIG
- 1D
- -0.05%
- 1M
- -0.20%
- 6M
- 0.24%
- YTD
- 0.46%
- 1Y
- 2.90%
- 3Y*
- 5.09%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.67M | $8.27M | $7.61M | |
| $12.55M | $12.19M | $13.58M |
UCON vs. FSIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.17% | 7.00% | 4.69% | 7.72% | -5.72% | 0.27% |
FSIG First Trust Limited Duration Investment Grade Corporate ETF | 0.46% | 6.66% | 4.22% | 6.22% | -4.37% | -0.08% |
Correlation
The correlation between UCON and FSIG is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2021 | 0.65 |
The correlation between UCON and FSIG shifts across timeframes, from 0.65 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
UCON vs. FSIG — Risk / Return Rank
UCON
FSIG
UCON vs. FSIG - 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 Limited Duration Investment Grade Corporate ETF (FSIG). 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.
| UCON | FSIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.28 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.08 | -0.58 |
| Martin ratioReturn relative to average drawdown | 5.42 | 8.35 | -2.93 |
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Drawdowns
UCON vs. FSIG - Drawdown Comparison
The maximum UCON drawdown since its inception was -15.31%, which is greater than FSIG's maximum drawdown of -6.93%. Use the drawdown chart below to compare losses from any high point for UCON and FSIG.
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Drawdown Indicators
| UCON | FSIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.31% | -6.93% | -8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -1.55% | -0.90% |
Max Drawdown (3Y)Largest decline over 3 years | -2.85% | -1.55% | -1.30% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | — | — |
Current DrawdownCurrent decline from peak | -1.06% | -0.36% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -1.64% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.39% | +0.29% |
Volatility
UCON vs. FSIG - Volatility Comparison
First Trust TCW Unconstrained Plus Bond ETF (UCON) has a higher volatility of 0.74% compared to First Trust Limited Duration Investment Grade Corporate ETF (FSIG) at 0.65%. This indicates that UCON's price experiences larger fluctuations and is considered to be riskier than FSIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UCON | FSIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 0.65% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 1.94% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.98% | 2.25% | +0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.91% | 2.94% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.85% | 2.94% | +2.91% |
UCON vs. FSIG - Expense Ratio Comparison
UCON has a 0.86% expense ratio, which is higher than FSIG's 0.55% expense ratio.
Dividends
UCON vs. FSIG - Dividend Comparison
UCON's dividend yield for the trailing twelve months is around 4.74%, less than FSIG's 4.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FSIG First Trust Limited Duration Investment Grade Corporate ETF | 4.84% | 4.73% | 4.61% | 4.42% | 2.48% | 0.12% | 0.00% | 0.00% | 0.00% |
UCON First Trust TCW Unconstrained Plus Bond ETF | 4.74% | 4.63% | 4.95% | 4.75% | 3.12% | 2.20% | 3.14% | 3.25% | 1.76% |
Frequently Asked Questions
UCON and FSIG have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
UCON has higher volatility (0.74%) compared to FSIG (0.65%). In terms of maximum drawdown, UCON dropped -15.31% vs FSIG's -6.93%.
On 3-year performance, UCON leads with 5.26% vs 5.09% for FSIG. On fees, FSIG is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, UCON has performed better with a 5.26% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FSIG is cheaper with a 0.55% expense ratio, compared with 0.86% for UCON.
FSIG has the higher dividend yield at 4.84%, compared with 4.74% for UCON.
UCON is categorized as Nontraditional Bonds, while FSIG is Short-Term Bond. Their fees differ too: 0.86% for UCON and 0.55% for FSIG.
FSIG currently has the higher Sharpe Ratio (1.44 vs 1.24), 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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