UCON vs. NFTY
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 India 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 2.70%/yr vs 5.61%/yr for NFTY. At a 0.11 correlation, their price movements are largely independent. UCON charges 0.86%/yr vs 0.80%/yr for NFTY.
Performance
UCON vs. NFTY - Performance Comparison
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Returns By Period
In the year-to-date period, UCON achieves a 0.44% return, which is significantly higher than NFTY's -7.65% return.
UCON
- 1D
- -0.28%
- 1M
- -0.30%
- 6M
- 0.32%
- YTD
- 0.44%
- 1Y
- 4.55%
- 3Y*
- 5.61%
- 5Y*
- 2.70%
- 10Y*
- —
NFTY
- 1D
- -0.54%
- 1M
- 1.23%
- 6M
- -7.33%
- YTD
- -7.65%
- 1Y
- -7.96%
- 3Y*
- 4.78%
- 5Y*
- 5.61%
- 10Y*
- 7.60%
UCON vs. NFTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UCON First Trust TCW Unconstrained Plus Bond ETF | 0.44% | 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 | -7.65% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -6.36% |
Correlation
The correlation between UCON and NFTY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.11 |
Over the past year, UCON and NFTY have become more correlated (0.32) than their long-term average of 0.11, meaning their price movements have been converging.
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Return for Risk
UCON vs. NFTY — Risk / Return Rank
UCON
NFTY
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.
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 | NFTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.92 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | -0.50 | +2.36 |
| Martin ratioReturn relative to average drawdown | 7.11 | -1.18 | +8.29 |
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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.
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Drawdown Indicators
| UCON | NFTY | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -0.80% | -15.58% | +14.78% |
Average DrawdownAverage peak-to-trough decline | -1.47% | -9.62% | +8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 6.73% | -6.09% |
Volatility
UCON vs. NFTY - Volatility Comparison
The current volatility for First Trust TCW Unconstrained Plus Bond ETF (UCON) is 0.86%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 3.74%. 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.
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Volatility by Period
| UCON | NFTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 3.74% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 12.64% | -10.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 14.74% | -11.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.91% | 17.41% | -13.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.86% | 20.65% | -14.79% |
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 4.71%, more than NFTY's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.92% | 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 | 4.71% | 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 NFTY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFTY has higher volatility (3.74%) compared to UCON (0.86%). In terms of maximum drawdown, UCON dropped -15.31% vs NFTY's -47.67%.
On 5-year performance, NFTY leads with 5.61% vs 2.70% for UCON. On fees, NFTY is cheaper at 0.80% per year. On volatility, UCON has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NFTY has performed better with a 5.61% return vs 2.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFTY is cheaper with a 0.80% expense ratio, compared with 0.86% for UCON.
UCON has the higher dividend yield at 4.71%, compared with 1.92% for NFTY.
UCON is categorized as Nontraditional Bonds, while NFTY is India Equities. Their fees differ too: 0.86% for UCON and 0.80% for NFTY.
UCON currently has the higher Sharpe Ratio (1.53 vs -0.54), 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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