UCON vs. RINC

Last updated Jun 3, 2026

UCON (First Trust TCW Unconstrained Plus Bond ETF) and RINC (AXS Real Estate Income ETF) are both exchange-traded funds - UCON is a Nontraditional Bonds fund actively managed by First Trust, while RINC is a REIT fund tracking the Gapstow Real Estate Income Index. UCON is actively managed, while RINC is passively managed. At a 0.28 correlation, their price movements are largely independent. UCON charges 0.86%/yr vs 0.89%/yr for RINC.

Performance

UCON vs. RINC - Performance Comparison

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

Returns By Period

UCON

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

RINC

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UCON vs. RINC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
UCON First Trust TCW Unconstrained Plus Bond ETF	0.83%	7.00%	4.69%	4.11%
RINC AXS Real Estate Income ETF	0.00%	7.75%	-5.74%	1.71%

Correlation

The correlation between UCON and RINC is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Aug 29, 2023	0.28

UCON vs. RINC - Sectors Allocation Comparison

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

Return for Risk

UCON vs. RINC — 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

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. RINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust TCW Unconstrained Plus Bond ETF (UCON) and AXS Real Estate Income ETF (RINC). 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	RINC	Difference
Sharpe ratio Return per unit of total volatility	1.96	—	—
Sortino ratio Return per unit of downside risk	2.81	—	—
Omega ratio Gain probability vs. loss probability	1.37	—	—
Calmar ratio Return relative to maximum drawdown	2.29	—	—
Martin ratio Return relative to average drawdown	8.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	UCON	RINC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	—	—

Drawdowns

Drawdown Indicators

	UCON	RINC	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.45%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-2.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	—	—
Current Drawdown Current decline from peak	-0.37%	—	—
Average Drawdown Average peak-to-trough decline	-1.48%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	—	—

Volatility

Volatility by Period

	UCON	RINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.89%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.89%	—	—

UCON vs. RINC - Expense Ratio Comparison

UCON has a 0.86% expense ratio, which is lower than RINC's 0.89% expense ratio.

Dividends

UCON vs. RINC - Dividend Comparison

UCON's dividend yield for the trailing twelve months is around 4.65%, more than RINC's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
RINC AXS Real Estate Income ETF	2.16%	6.04%	10.85%	3.88%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both UCON and RINC in my portfolio?

UCON and RINC have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UCON or RINC?

On fees, UCON is cheaper at 0.86% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UCON or RINC?

UCON is cheaper with a 0.86% expense ratio, compared with 0.89% for RINC.

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

UCON has the higher dividend yield at 4.65%, compared with 2.16% for RINC.

What is the main difference between UCON and RINC?

UCON is categorized as Nontraditional Bonds, while RINC is REIT. They also come from different issuers: First Trust and AXS. Their fees differ too: 0.86% for UCON and 0.89% for RINC.