UCON vs. NFTY

Last updated Jun 3, 2026

UCON (First Trust TCW Unconstrained Plus Bond ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both exchange-traded funds - UCON is a Nontraditional Bonds fund actively managed by First Trust, while NFTY is a Asia Pacific Equities fund tracking the NIFTY 50 Equal Weight Index. UCON is actively managed, while NFTY is passively managed. Over the past 5 years, UCON returned 2.82%/yr vs 5.16%/yr for NFTY. At a 0.10 correlation, their price movements are largely independent. UCON charges 0.86%/yr vs 0.80%/yr for NFTY.

Performance

UCON vs. NFTY - 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 India NIFTY 50 Equal Weight ETF (NFTY). 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 higher than NFTY's -8.47% return.

UCON

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

NFTY

• 1D: 0.45%
• 1M: -1.03%
• YTD: -8.47%
• 6M: -7.54%
• 1Y: -7.79%
• 3Y*: 6.20%
• 5Y*: 5.16%
• 10Y*: 8.28%

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

UCON vs. NFTY - 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%
NFTY First Trust India NIFTY 50 Equal Weight ETF	-8.47%	5.47%	5.18%	24.00%	-3.46%	26.83%	10.04%	0.58%	-4.90%

Correlation

The correlation between UCON and NFTY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018	0.10

The correlation between UCON and NFTY shifts across timeframes, from 0.10 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

UCON vs. NFTY - Sectors Allocation Comparison

Sectors	UCON	NFTY
Utilities	100.0%	4.0%
Basic Materials	-	12.5%
Communication Services	-	2.0%
Consumer Cyclical	-	16.3%
Consumer Defensive	-	8.3%
Energy	-	8.5%
Financial Services	-	21.2%
Healthcare	-	9.7%
Industrials	-	8.3%
Real Estate	-	-
Technology	-	9.2%

Return for Risk

UCON vs. NFTY — 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

NFTY

NFTY Risk / Return Rank: 4
NFTY Sharpe Ratio Rank: 4
NFTY Sortino Ratio Rank: 4
NFTY Omega Ratio Rank: 4
NFTY Calmar Ratio Rank: 4
NFTY Martin Ratio Rank: 2

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. NFTY - 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 India NIFTY 50 Equal Weight ETF (NFTY). 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	NFTY	Difference
Sharpe ratio Return per unit of total volatility	1.96	-0.53	+2.50
Sortino ratio Return per unit of downside risk	2.81	-0.71	+3.52
Omega ratio Gain probability vs. loss probability	1.37	0.92	+0.45
Calmar ratio Return relative to maximum drawdown	2.29	-0.47	+2.76
Martin ratio Return relative to average drawdown	8.94	-1.25	+10.19
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. NFTY - Sharpe Ratio Comparison

The current UCON Sharpe Ratio is 1.96, which is higher than the NFTY Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of UCON and NFTY, 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	NFTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	-0.53	+2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.30	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.28	+0.35

Drawdowns

UCON vs. NFTY - Drawdown Comparison

The maximum UCON drawdown since its inception was -15.31%, smaller than the maximum NFTY drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for UCON and NFTY.

Drawdown Indicators

	UCON	NFTY	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	-47.67%	+32.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	-16.14%	+13.69%
Max Drawdown (3Y) Largest decline over 3 years	-2.85%	-21.55%	+18.70%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-21.55%	+11.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.67%	—
Current Drawdown Current decline from peak	-0.37%	-16.33%	+15.96%
Average Drawdown Average peak-to-trough decline	-1.48%	-9.58%	+8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	6.08%	-5.45%

Volatility

UCON vs. NFTY - Volatility Comparison

The current volatility for First Trust TCW Unconstrained Plus Bond ETF (UCON) is 1.13%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 4.44%. This indicates that UCON experiences smaller price fluctuations and is considered to be less risky than NFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UCON	NFTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	4.44%	-3.31%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	12.52%	-10.20%
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	14.66%	-11.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.89%	17.38%	-13.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	20.72%	-14.83%

UCON vs. NFTY - Expense Ratio Comparison

UCON has a 0.86% expense ratio, which is higher than NFTY's 0.80% expense ratio.

Dividends

UCON vs. NFTY - Dividend Comparison

UCON's dividend yield for the trailing twelve months is around 4.65%, more than NFTY's 1.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NFTY First Trust India NIFTY 50 Equal Weight ETF	1.93%	1.24%	1.61%	0.13%	5.89%	1.53%	0.61%	0.97%	0.00%	4.10%	3.28%	4.39%
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 NFTY in my portfolio?

UCON and NFTY have a correlation of 0.25, 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 NFTY?

NFTY has higher volatility (4.44%) compared to UCON (1.13%). In terms of maximum drawdown, UCON dropped -15.31% vs NFTY's -47.67%.

Which ETF is better, UCON or NFTY?

On 5-year performance, NFTY leads with 5.16% vs 2.82% for UCON. On fees, NFTY is cheaper at 0.80% 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 NFTY?

Over the 5-year period, NFTY has performed better with a 5.16% 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 NFTY?

NFTY is cheaper with a 0.80% expense ratio, compared with 0.86% for UCON.

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

UCON has the higher dividend yield at 4.65%, compared with 1.93% for NFTY.

What is the main difference between UCON and NFTY?

UCON is categorized as Nontraditional Bonds, while NFTY is Asia Pacific Equities. Their fees differ too: 0.86% for UCON and 0.80% for NFTY.

Which has better risk-adjusted returns?

UCON currently has the higher Sharpe Ratio (1.96 vs -0.53), 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.