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UINC.L vs. UNCU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UINC.L vs. UNCU.L

Last updated Jul 16, 2026
Documentation

UINC.L (First Trust US Equity Income UCITS ETF) and UNCU.L (First Trust US Equity Income UCITS ETF Class B) are both Dividend funds from First Trust - UINC.L tracks the First Trust US Equity Income UCITS ETF while UNCU.L tracks the First Trust US Equity Income UCITS ETF Class B. Both are passively managed. Over the past 5 years, UINC.L returned 10.14%/yr vs 10.24%/yr for UNCU.L. Their correlation of 0.80 suggests significant overlap in exposure.

Performance

UINC.L vs. UNCU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust US Equity Income UCITS ETF (UINC.L) and First Trust US Equity Income UCITS ETF Class B (UNCU.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

UINC.L is traded in GBp, while UNCU.L is traded in USD. To make them comparable, the UNCU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with UINC.L having a 16.69% return and UNCU.L slightly higher at 16.75%.

UINC.L

1D
-0.42%
1M
1.33%
6M
13.40%
YTD
16.69%
1Y
22.27%
3Y*
14.34%
5Y*
10.14%
10Y*
9.99%

UNCU.L

1D
-0.03%
1M
1.27%
6M
13.48%
YTD
16.75%
1Y
22.11%
3Y*
14.43%
5Y*
10.24%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

UINC.L vs. UNCU.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UINC.L
First Trust US Equity Income UCITS ETF		16.69%0.01%8.49%10.78%4.24%34.94%-2.77%12.59%-3.41%11.45%
UNCU.L
First Trust US Equity Income UCITS ETF Class B		16.75%-0.12%8.49%11.30%4.16%33.28%-1.65%12.87%-2.91%10.62%

Correlation

The correlation between UINC.L and UNCU.L is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (5Y)
Calculated over the trailing 5-year period

0.89

Correlation (All Time)
Calculated using the full available price history since May 9, 2017

0.80

The correlation between UINC.L and UNCU.L shifts across timeframes, from 0.80 (all time) to 0.93 (3 years), reflecting how their relationship changes across market environments.

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First Trust US Equity Income UCITS ETF

First Trust US Equity Income UCITS ETF Class B

Return for Risk

UINC.L vs. UNCU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UINC.L
UINC.L Risk / Return Rank: 8181
Overall Rank
UINC.L Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
UINC.L Sortino Ratio Rank: 7979
Sortino Ratio Rank
UINC.L Omega Ratio Rank: 7171
Omega Ratio Rank
UINC.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
UINC.L Martin Ratio Rank: 8585
Martin Ratio Rank
UNCU.L
UNCU.L Risk / Return Rank: 7272
Overall Rank
UNCU.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
UNCU.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
UNCU.L Omega Ratio Rank: 6363
Omega Ratio Rank
UNCU.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
UNCU.L Martin Ratio Rank: 6565
Martin Ratio Rank
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.

UINC.L vs. UNCU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Income UCITS ETF (UINC.L) and First Trust US Equity Income UCITS ETF Class B (UNCU.L). 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.

UINC.LUNCU.LDifference
Sharpe ratioReturn per unit of total volatility
1.95
1.65

+0.30

Sortino ratioReturn per unit of downside risk
2.83
2.39

+0.44

Omega ratioGain probability vs. loss probability

1.34

1.28

+0.06

Calmar ratioReturn relative to maximum drawdown

4.79

4.22

+0.57

Martin ratioReturn relative to average drawdown

13.50

11.91

+1.60

UINC.L vs. UNCU.L - Sharpe Ratio Comparison

The current UINC.L Sharpe Ratio is 1.95, which is comparable to the UNCU.L Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of UINC.L and UNCU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

UINC.L vs. UNCU.L - Drawdown Comparison

The maximum UINC.L drawdown since its inception was -38.33%, roughly equal to the maximum UNCU.L drawdown of -39.03%. Use the drawdown chart below to compare losses from any high point for UINC.L and UNCU.L.

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Drawdown Indicators

UINC.LUNCU.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.33%

-39.03%

+0.70%

Max Drawdown (1Y)

Largest decline over 1 year

-5.10%

-5.22%

+0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-23.09%

-22.98%

-0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-23.09%

-22.98%

-0.11%

Max Drawdown (10Y)

Largest decline over 10 years

-38.33%

—

—

Current Drawdown

Current decline from peak

-0.88%

-1.02%

+0.14%

Average Drawdown

Average peak-to-trough decline

-8.26%

-6.53%

-1.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.81%

1.85%

-0.04%

Volatility

UINC.L vs. UNCU.L - Volatility Comparison

The current volatility for First Trust US Equity Income UCITS ETF (UINC.L) is 3.50%, while First Trust US Equity Income UCITS ETF Class B (UNCU.L) has a volatility of 4.27%. This indicates that UINC.L experiences smaller price fluctuations and is considered to be less risky than UNCU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UINC.LUNCU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.50%

4.27%

-0.77%

Volatility (6M)

Calculated over the trailing 6-month period

9.01%

9.90%

-0.89%

Volatility (1Y)

Calculated over the trailing 1-year period

12.64%

13.35%

-0.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.74%

17.37%

-0.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.57%

21.93%

-2.36%

Dividends

UINC.L vs. UNCU.L - Dividend Comparison

UINC.L's dividend yield for the trailing twelve months is around 2.82%, while UNCU.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
UINC.L
First Trust US Equity Income UCITS ETF		2.82%3.03%2.84%3.20%3.25%2.15%3.40%3.14%3.01%2.49%1.60%
UNCU.L
First Trust US Equity Income UCITS ETF Class B		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, UINC.L and UNCU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

UINC.L tracks First Trust US Equity Income UCITS ETF, while UNCU.L tracks First Trust US Equity Income UCITS ETF Class B.

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