ZTRE vs. FCG

Last updated Jun 23, 2026

ZTRE (F/M 3-Year Investment Grade Corporate Bond ETF) and FCG (First Trust Natural Gas ETF) are both exchange-traded funds - ZTRE is a Short-Term Bond fund tracking the ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while FCG is a Energy Equities fund tracking the ISE-Revere Natural Gas Index. Both are passively managed. Over the past year, ZTRE returned 3.84% vs 12.39% for FCG. At a correlation of -0.17, they often move in opposite directions. ZTRE charges 0.15%/yr vs 0.60%/yr for FCG.

Performance

ZTRE vs. FCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and First Trust Natural Gas ETF (FCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZTRE achieves a 0.47% return, which is significantly lower than FCG's 17.24% return.

ZTRE

• 1D: -0.04%
• 1M: 0.25%
• YTD: 0.47%
• 6M: 0.83%
• 1Y: 3.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCG

• 1D: 1.64%
• 1M: -9.95%
• YTD: 17.24%
• 6M: 18.20%
• 1Y: 12.39%
• 3Y*: 10.11%
• 5Y*: 14.16%
• 10Y*: 3.88%

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

ZTRE vs. FCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	0.47%	6.60%	0.32%
FCG First Trust Natural Gas ETF	17.24%	-2.28%	6.44%

Correlation

The correlation between ZTRE and FCG is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.27
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	-0.17

Return for Risk

ZTRE vs. FCG — Risk / Return Rank

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

ZTRE

ZTRE Risk / Return Rank: 64
ZTRE Sharpe Ratio Rank: 64
ZTRE Sortino Ratio Rank: 73
ZTRE Omega Ratio Rank: 69
ZTRE Calmar Ratio Rank: 55
ZTRE Martin Ratio Rank: 61

FCG

FCG Risk / Return Rank: 16
FCG Sharpe Ratio Rank: 15
FCG Sortino Ratio Rank: 15
FCG Omega Ratio Rank: 15
FCG Calmar Ratio Rank: 17
FCG Martin Ratio Rank: 19

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.

ZTRE vs. FCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) and First Trust Natural Gas ETF (FCG). 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.

	ZTRE	FCG	Difference
Sharpe ratio: Return per unit of total volatility	2.03	0.46	+1.58
Sortino ratio: Return per unit of downside risk	3.14	0.77	+2.37
Omega ratio: Gain probability vs. loss probability	1.40	1.09	+0.30
Calmar ratio: Return relative to maximum drawdown	2.66	0.70	+1.96
Martin ratio: Return relative to average drawdown	10.60	2.05	+8.56

ZTRE vs. FCG - Sharpe Ratio Comparison

The current ZTRE Sharpe Ratio is 2.03, which is higher than the FCG Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of ZTRE and FCG, 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

ZTRE vs. FCG - Drawdown Comparison

The maximum ZTRE drawdown since its inception was -1.45%, smaller than the maximum FCG drawdown of -97.20%. Use the drawdown chart below to compare losses from any high point for ZTRE and FCG.

Drawdown Indicators

	ZTRE	FCG	Difference
Max Drawdown Largest peak-to-trough decline	-1.45%	-97.20%	+95.75%
Max Drawdown (1Y) Largest decline over 1 year	-1.45%	-17.90%	+16.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-85.04%	—
Current Drawdown Current decline from peak	-0.34%	-76.36%	+76.02%
Average Drawdown Average peak-to-trough decline	-0.20%	-65.39%	+65.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	6.68%	-6.32%

Volatility

ZTRE vs. FCG - Volatility Comparison

The current volatility for F/M 3-Year Investment Grade Corporate Bond ETF (ZTRE) is 0.59%, while First Trust Natural Gas ETF (FCG) has a volatility of 9.37%. This indicates that ZTRE experiences smaller price fluctuations and is considered to be less risky than FCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZTRE	FCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.59%	9.37%	-8.78%
Volatility (6M) Calculated over the trailing 6-month period	1.48%	20.54%	-19.06%
Volatility (1Y) Calculated over the trailing 1-year period	1.90%	27.35%	-25.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.11%	33.43%	-31.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.11%	38.32%	-36.21%

ZTRE vs. FCG - Expense Ratio Comparison

ZTRE has a 0.15% expense ratio, which is lower than FCG's 0.60% expense ratio.

Dividends

ZTRE vs. FCG - Dividend Comparison

ZTRE's dividend yield for the trailing twelve months is around 4.22%, more than FCG's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCG First Trust Natural Gas ETF	2.34%	2.86%	2.76%	3.25%	3.04%	1.73%	3.82%	2.87%	1.46%	1.56%	1.70%	4.79%
ZTRE F/M 3-Year Investment Grade Corporate Bond ETF	4.22%	4.37%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ZTRE and FCG in my portfolio?

ZTRE and FCG have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZTRE or FCG?

FCG has higher volatility (9.37%) compared to ZTRE (0.59%). In terms of maximum drawdown, ZTRE dropped -1.45% vs FCG's -97.20%.

Which ETF is better, ZTRE or FCG?

On 1-year performance, FCG leads with 12.39% vs 3.84% for ZTRE. On fees, ZTRE is cheaper at 0.15% per year. On volatility, ZTRE has been the lower-risk option at 0.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZTRE or FCG?

Over the 1-year period, FCG has performed better with a 12.39% return vs 3.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZTRE or FCG?

ZTRE is cheaper with a 0.15% expense ratio, compared with 0.60% for FCG.

Which ETF pays a higher dividend yield, ZTRE or FCG?

ZTRE has the higher dividend yield at 4.22%, compared with 2.34% for FCG.

What is the main difference between ZTRE and FCG?

ZTRE is categorized as Short-Term Bond, while FCG is Energy Equities. ZTRE tracks ICE 3-Year US Target Maturity Corporate Index - Benchmark TR Gross, while FCG tracks ISE-Revere Natural Gas Index. They also come from different issuers: F/m and First Trust. Their fees differ too: 0.15% for ZTRE and 0.60% for FCG.

Which has better risk-adjusted returns?

ZTRE currently has the higher Sharpe Ratio (2.03 vs 0.46), 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.