WCEO vs. FAAR

Last updated Jun 23, 2026

WCEO (Hypatia Women CEO ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - WCEO is a Small Cap Blend Equities fund actively managed by Hypatia Capital, while FAAR is a Commodities fund actively managed by First Trust. Both are actively managed. Over the past 3 years, WCEO returned 15.15%/yr vs 10.91%/yr for FAAR. At a 0.00 correlation, their price movements are largely independent. WCEO charges 0.85%/yr vs 0.95%/yr for FAAR.

Performance

WCEO vs. FAAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hypatia Women CEO ETF (WCEO) and First Trust Alternative Absolute Return Strategy ETF (FAAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCEO achieves a 12.92% return, which is significantly lower than FAAR's 20.23% return.

WCEO

• 1D: -0.05%
• 1M: 3.19%
• YTD: 12.92%
• 6M: 11.06%
• 1Y: 30.87%
• 3Y*: 15.15%
• 5Y*: —
• 10Y*: —

FAAR

• 1D: -0.05%
• 1M: -4.34%
• YTD: 20.23%
• 6M: 19.92%
• 1Y: 26.86%
• 3Y*: 10.91%
• 5Y*: 7.89%
• 10Y*: 4.79%

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

WCEO vs. FAAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WCEO Hypatia Women CEO ETF	12.92%	9.77%	8.28%	10.51%
FAAR First Trust Alternative Absolute Return Strategy ETF	20.23%	8.07%	5.97%	-3.86%

Correlation

The correlation between WCEO and FAAR is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jan 9, 2023	0.00

Return for Risk

WCEO vs. FAAR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WCEO

WCEO Risk / Return Rank: 70
WCEO Sharpe Ratio Rank: 64
WCEO Sortino Ratio Rank: 68
WCEO Omega Ratio Rank: 58
WCEO Calmar Ratio Rank: 85
WCEO Martin Ratio Rank: 75

FAAR

FAAR Risk / Return Rank: 70
FAAR Sharpe Ratio Rank: 64
FAAR Sortino Ratio Rank: 65
FAAR Omega Ratio Rank: 58
FAAR Calmar Ratio Rank: 87
FAAR Martin Ratio Rank: 78

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.

WCEO vs. FAAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hypatia Women CEO ETF (WCEO) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.

	WCEO	FAAR	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.02	+0.02
Sortino ratio: Return per unit of downside risk	3.00	2.89	+0.11
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	4.46	4.75	-0.29
Martin ratio: Return relative to average drawdown	13.87	14.70	-0.83

WCEO vs. FAAR - Sharpe Ratio Comparison

The current WCEO Sharpe Ratio is 2.04, which is comparable to the FAAR Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of WCEO and FAAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WCEO vs. FAAR - Drawdown Comparison

The maximum WCEO drawdown since its inception was -25.88%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for WCEO and FAAR.

Drawdown Indicators

	WCEO	FAAR	Difference
Max Drawdown Largest peak-to-trough decline	-25.88%	-18.03%	-7.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.96%	-5.68%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-25.88%	-11.54%	-14.34%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.03%	—
Current Drawdown Current decline from peak	-0.56%	-5.43%	+4.87%
Average Drawdown Average peak-to-trough decline	-5.45%	-7.82%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.89%	+0.34%

Volatility

WCEO vs. FAAR - Volatility Comparison

Hypatia Women CEO ETF (WCEO) has a higher volatility of 3.75% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.47%. This indicates that WCEO's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCEO	FAAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	2.47%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	10.43%	9.68%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	13.37%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	12.95%	+5.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	11.53%	+6.55%

WCEO vs. FAAR - Expense Ratio Comparison

WCEO has a 0.85% expense ratio, which is lower than FAAR's 0.95% expense ratio.

Dividends

WCEO vs. FAAR - Dividend Comparison

WCEO's dividend yield for the trailing twelve months is around 0.57%, less than FAAR's 9.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAAR First Trust Alternative Absolute Return Strategy ETF	9.57%	11.63%	3.45%	3.20%	5.82%	6.49%	3.05%	1.02%	0.58%	2.83%
WCEO Hypatia Women CEO ETF	0.57%	0.64%	0.88%	0.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCEO and FAAR in my portfolio?

WCEO and FAAR have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCEO or FAAR?

WCEO has higher volatility (3.75%) compared to FAAR (2.47%). In terms of maximum drawdown, WCEO dropped -25.88% vs FAAR's -18.03%.

Which ETF is better, WCEO or FAAR?

On 3-year performance, WCEO leads with 15.15% vs 10.91% for FAAR. On fees, WCEO is cheaper at 0.85% per year. On volatility, FAAR has been the lower-risk option at 2.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCEO or FAAR?

Over the 3-year period, WCEO has performed better with a 15.15% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCEO or FAAR?

WCEO is cheaper with a 0.85% expense ratio, compared with 0.95% for FAAR.

Which ETF pays a higher dividend yield, WCEO or FAAR?

FAAR has the higher dividend yield at 9.57%, compared with 0.57% for WCEO.

What is the main difference between WCEO and FAAR?

WCEO is categorized as Small Cap Blend Equities, while FAAR is Commodities. They also come from different issuers: Hypatia Capital and First Trust. Their fees differ too: 0.85% for WCEO and 0.95% for FAAR.

Which has better risk-adjusted returns?

WCEO currently has the higher Sharpe Ratio (2.04 vs 2.02), 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.