FCAL vs GHYG

Comparison between FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF) and ISHARES US & INTL HIGH YIELD CORP BOND ETF (GHYG, ETF).

5-Year PerformanceGHYG has outperformed FCAL, delivering a return of +3.2% compared to +0.8%

FCAL vs GHYG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FCAL(ETF)	GHYG(ETF)
Net Assets	$205M	$205M
Expense Ratio	0.49%	0.40%
Max Drawdown	16.86%	34.19%
Sharpe Ratio	1.06	0.45
5Y Beta	-0.00	0.20
5Y Dividends CAGR	7.56%	4.40%

Net Assets

FCAL

$205M

Winner

GHYG

$205M

Expense Ratio

FCAL

0.49%

Winner

GHYG

0.40%

Max Drawdown

Winner

FCAL

16.86%

GHYG

34.19%

Sharpe Ratio

Winner

FCAL

1.06

GHYG

0.45

5Y Beta

Winner

FCAL

-0.00

GHYG

0.20

5Y Dividends CAGR

Winner

FCAL

7.56%

GHYG

4.40%

FCAL vs GHYG - Historical Returns

Returns include dividend reinvestment.

Period	FCAL	GHYG
1 month	+0.67%	-0.15%
3 months	+0.40%	+0.45%
6 months	+2.25%	+0.90%
1 year	+6.83%	+5.63%
5 years(CAGR)	+0.79%	+3.17%
10 years(CAGR)	+2.60%	+4.71%
Max(CAGR)	+2.60%	+4.54%

Winner

FCAL

+0.67%

GHYG

-0.15%

FCAL

+0.40%

Winner

GHYG

+0.45%

Winner

FCAL

+2.25%

GHYG

+0.90%

Winner

FCAL

+6.83%

GHYG

+5.63%

5Y(CAGR)

FCAL

+0.79%

Winner

GHYG

+3.17%

10Y(CAGR)

FCAL

+2.60%

Winner

GHYG

+4.71%

Max(CAGR)

FCAL

+2.60%

Winner

GHYG

+4.54%

FCAL vs GHYG - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	FCAL	GHYG
2026	+1.74%	+0.09%
2025	+3.05%	+11.24%
2024	+1.84%	+6.38%
2023	+6.19%	+13.31%
2022	-9.40%	-11.97%
2021	+3.02%	+1.85%
2020	+3.39%	+6.35%
2019	+9.63%	+14.32%
2018	+1.01%	-4.23%
2017	+4.40%	+8.65%
2016	N/A	+13.79%
2015	N/A	-6.46%
2014	N/A	-2.17%
2013	N/A	+7.28%
2012	N/A	+10.21%

FCAL vs GHYG Drawdown Comparison

The maximum drawdown for FCAL was -14.81%, occurring on Mar 20, 2020. Recovery took 204 trading sessions.

The maximum drawdown for GHYG was -27.37%, occurring on Mar 23, 2020. Recovery took 141 trading sessions.

The current FCAL drawdown is -0.34%. The current GHYG drawdown is -1.24%.

Rank	FCAL	GHYG
#1	-14.81% Feb 28, 2020 - Dec 17, 2020	-27.37% Jan 15, 2020 - Aug 6, 2020
#2	-14.44% Jul 20, 2021 - Nov 11, 2025	-20.44% Sep 15, 2021 - Jun 5, 2024
#3	-2.96% Dec 29, 2017 - Dec 21, 2018	-15.53% Jul 1, 2014 - Jan 4, 2017
#4	-2.57% Feb 27, 2026 - Mar 27, 2026	-7.88% Jan 26, 2018 - Feb 27, 2019
#5	-2.28% Feb 12, 2021 - May 6, 2021	-5.68% May 14, 2013 - Oct 17, 2013
#6	-1.27% Aug 28, 2019 - Oct 8, 2019	-4.70% May 1, 2012 - Aug 1, 2012
#7	-1.10% Oct 9, 2019 - Dec 27, 2019	-4.15% Mar 19, 2025 - Apr 23, 2025
#8	-1.03% Dec 7, 2017 - Dec 28, 2017	-3.84% Jan 27, 2026 - Mar 27, 2026
#9	-0.88% Aug 15, 2017 - Sep 12, 2017	-3.07% Sep 1, 2020 - Oct 12, 2020
#10	-0.71% Apr 15, 2019 - Apr 30, 2019	-2.67% Apr 29, 2021 - May 7, 2021
#11	-0.71% Sep 12, 2017 - Oct 19, 2017	-2.49% Sep 26, 2024 - Feb 5, 2025
#12	-0.65% Dec 28, 2018 - Jan 31, 2019	-2.14% Oct 12, 2020 - Nov 5, 2020
#13	-0.64% Nov 20, 2017 - Dec 5, 2017	-2.10% Apr 23, 2019 - Jun 19, 2019
#14	-0.58% Dec 21, 2018 - Dec 28, 2018	-1.97% Sep 14, 2012 - Oct 17, 2012
#15	-0.57% Mar 29, 2019 - Apr 15, 2019	-1.96% Oct 18, 2012 - Dec 4, 2012

Correlation

Correlation between FCAL and GHYG is 0.86 which considered as a strong positive correlation - the stocks tend to move together.

0.86

-101

Dividend Comparison (2012 - 2026)

FCAL vs GHYG dividend yield comparison.

Year	FCAL	GHYG
2026	1.43%	2.56%
2025	3.22%	6.03%
2024	2.99%	6.11%
2023	2.74%	5.60%
2022	2.38%	4.64%
2021	2.03%	4.57%
2020	2.11%	4.36%
2019	2.68%	4.61%
2018	2.99%	5.62%
2017	1.30%	4.60%
2016	0.00%	4.61%
2015	0.00%	4.79%
2014	0.00%	5.73%
2013	0.00%	5.52%
2012	0.00%	4.38%