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

UIND.L vs. UNCU.L

Last updated Jul 16, 2026
Documentation

UIND.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 - UIND.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, UIND.L returned -56.37%/yr vs 9.86%/yr for UNCU.L. With a 0.99 correlation, they move nearly in lockstep.

Performance

UIND.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 (UIND.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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Returns By Period

The year-to-date returns for both stocks are quite close, with UIND.L having a 17.33% return and UNCU.L slightly lower at 17.23%.

UIND.L

1D
-0.05%
1M
2.08%
6M
14.18%
YTD
17.33%
1Y
23.34%
3Y*
15.67%
5Y*
-56.37%
10Y*
10.02%

UNCU.L

1D
1.02%
1M
2.16%
6M
14.18%
YTD
17.23%
1Y
23.41%
3Y*
15.69%
5Y*
9.86%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
UIND.L
First Trust US Equity Income UCITS ETF		17.33%7.36%6.74%17.10%-99.07%12,946.70%1.16%17.39%-8.36%15.23%
UNCU.L
First Trust US Equity Income UCITS ETF Class B		17.23%7.54%6.63%17.16%-6.91%32.03%1.33%17.33%-8.34%15.56%

Correlation

The correlation between UIND.L and UNCU.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.98

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

0.98

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

0.99

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

0.99

The correlation between UIND.L and UNCU.L has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

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First Trust US Equity Income UCITS ETF

First Trust US Equity Income UCITS ETF Class B

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UIND.L
UIND.L Risk / Return Rank: 7878
Overall Rank
UIND.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
UIND.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
UIND.L Omega Ratio Rank: 7373
Omega Ratio Rank
UIND.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
UIND.L Martin Ratio Rank: 6868
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.

UIND.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 (UIND.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.

UIND.LUNCU.LDifference
Sharpe ratioReturn per unit of total volatility
2.03
1.84

+0.20

Sortino ratioReturn per unit of downside risk
3.05
2.78

+0.27

Omega ratioGain probability vs. loss probability

1.34

1.31

+0.04

Calmar ratioReturn relative to maximum drawdown

3.69

3.48

+0.21

Martin ratioReturn relative to average drawdown

9.85

9.18

+0.67

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

The current UIND.L Sharpe Ratio is 2.03, which is comparable to the UNCU.L Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of UIND.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

UIND.L vs. UNCU.L - Drawdown Comparison

The maximum UIND.L drawdown since its inception was -99.21%, which is greater than UNCU.L's maximum drawdown of -45.45%. Use the drawdown chart below to compare losses from any high point for UIND.L and UNCU.L.

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Drawdown Indicators

UIND.LUNCU.LDifference

Max Drawdown

Largest peak-to-trough decline

-99.21%

-45.45%

-53.76%

Max Drawdown (1Y)

Largest decline over 1 year

-6.83%

-6.71%

-0.12%

Max Drawdown (3Y)

Largest decline over 3 years

-21.42%

-21.42%

0.00%

Max Drawdown (5Y)

Largest decline over 5 years

-99.21%

-21.42%

-77.79%

Max Drawdown (10Y)

Largest decline over 10 years

-99.21%

—

—

Current Drawdown

Current decline from peak

-98.61%

0.00%

-98.61%

Average Drawdown

Average peak-to-trough decline

-46.02%

-6.94%

-39.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.56%

2.54%

+0.02%

Volatility

UIND.L vs. UNCU.L - Volatility Comparison

First Trust US Equity Income UCITS ETF (UIND.L) and First Trust US Equity Income UCITS ETF Class B (UNCU.L) have volatilities of 3.98% and 3.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UIND.LUNCU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.98%

3.92%

+0.06%

Volatility (6M)

Calculated over the trailing 6-month period

8.53%

8.80%

-0.27%

Volatility (1Y)

Calculated over the trailing 1-year period

12.48%

12.72%

-0.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

47.78%

17.82%

+29.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3,136.02%

22.16%

+3,113.86%

Dividends

UIND.L vs. UNCU.L - Dividend Comparison

UIND.L's dividend yield for the trailing twelve months is around 2.78%, while UNCU.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
UIND.L
First Trust US Equity Income UCITS ETF		2.78%3.00%2.90%3.14%3.27%0.02%3.14%3.04%3.14%2.42%1.69%
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 0.98, UIND.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.

UIND.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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