FCAL vs NPV

Comparison between FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF) and Nuveen Virginia Quality Municipal Income Fund (NPV, ETF).

5-Year PerformanceFCAL has outperformed NPV, delivering a return of +0.3% compared to -4.4%

FCAL vs NPV - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	FCAL(ETF)	NPV(ETF)
Net Assets	$219M	$218M
Expense Ratio	0.49%	N/A
Max Drawdown	16.86%	52.73%
Sharpe Ratio	0.38	-0.42
5Y Beta	0.01	0.09
5Y Dividends CAGR	9.81%	7.71%

Net Assets

Winner

FCAL

$219M

NPV

$218M

Expense Ratio

FCAL

0.49%

NPV

N/A

Max Drawdown

Winner

FCAL

16.86%

NPV

52.73%

Sharpe Ratio

Winner

FCAL

0.38

NPV

-0.42

5Y Beta

Winner

FCAL

0.01

NPV

0.09

5Y Dividends CAGR

Winner

FCAL

9.81%

NPV

7.71%

FCAL vs NPV - Historical Returns

Returns include dividend reinvestment.

Period	FCAL	NPV
1 month	-0.31%	-2.58%
3 months	-0.85%	-5.52%
6 months	-1.66%	-6.77%
1 year	+4.99%	+0.32%
5 years(CAGR)	+0.27%	-4.40%
10 years(CAGR)	+2.38%	+1.27%
Max(CAGR)	+2.38%	+3.71%

Winner

FCAL

-0.31%

NPV

-2.58%

Winner

FCAL

-0.85%

NPV

-5.52%

Winner

FCAL

-1.66%

NPV

-6.77%

Winner

FCAL

+4.99%

NPV

+0.32%

5Y(CAGR)

Winner

FCAL

+0.27%

NPV

-4.40%

10Y(CAGR)

Winner

FCAL

+2.38%

NPV

+1.27%

Max(CAGR)

FCAL

+2.38%

Winner

NPV

+3.71%

FCAL vs NPV - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	FCAL	NPV
2026	+0.40%	-0.70%
2025	+3.05%	-6.00%
2024	+1.84%	+24.72%
2023	+6.19%	-1.53%
2022	-9.40%	-30.61%
2021	+3.02%	+10.87%
2020	+3.39%	+14.18%
2019	+9.63%	+27.87%
2018	+1.01%	-4.56%
2017	+4.40%	+3.28%
2016	N/A	-0.03%
2015	N/A	+9.28%
2014	N/A	+17.11%
2013	N/A	-20.91%
2012	N/A	+5.25%
2011	N/A	+11.93%
2010	N/A	+3.16%
2009	N/A	+35.31%
2008	N/A	-11.84%
2007	N/A	-7.20%
2006	N/A	-1.23%
2005	N/A	-4.05%
2004	N/A	+6.54%
2003	N/A	+4.52%
2002	N/A	+18.83%
2001	N/A	+7.94%
2000	N/A	+22.39%
1999	N/A	-14.72%

FCAL vs NPV Drawdown Comparison

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

The maximum drawdown for NPV was -44.23%, occurring on Oct 27, 2023. This drawdown has not yet recovered.

The current FCAL drawdown is -2.10%. The current NPV drawdown is -21.41%.

Rank	FCAL	NPV
#1	-14.81% Feb 28, 2020 - Dec 17, 2020	-44.23% Dec 22, 2021 - Oct 27, 2023
#2	-14.44% Jul 20, 2021 - Nov 11, 2025	-41.74% Feb 12, 2007 - Jul 28, 2009
#3	-2.96% Dec 29, 2017 - Dec 21, 2018	-28.66% Jul 17, 2012 - Mar 10, 2016
#4	-2.57% Feb 27, 2026 - Jun 22, 2026	-25.55% Feb 24, 2020 - Jul 6, 2020
#5	-2.28% Feb 12, 2021 - May 6, 2021	-23.27% Jan 26, 2004 - Nov 4, 2004
#6	-2.20% Jul 2, 2026 - Aug 3, 2026	-19.13% Oct 12, 2010 - Jan 23, 2012
#7	-1.27% Aug 28, 2019 - Oct 8, 2019	-16.53% Sep 7, 2016 - Jul 31, 2019
#8	-1.10% Oct 9, 2019 - Dec 27, 2019	-16.44% Oct 12, 2005 - Feb 9, 2007
#9	-1.03% Dec 7, 2017 - Dec 28, 2017	-15.46% Nov 2, 1999 - Aug 28, 2000
#10	-0.88% Aug 15, 2017 - Sep 12, 2017	-11.70% Jun 18, 2003 - Jan 12, 2004
#11	-0.71% Apr 15, 2019 - Apr 30, 2019	-9.96% Feb 14, 2005 - May 24, 2005
#12	-0.71% Sep 12, 2017 - Oct 19, 2017	-9.94% Aug 31, 2021 - Dec 22, 2021
#13	-0.65% Dec 28, 2018 - Jan 31, 2019	-8.98% Aug 20, 2002 - Dec 31, 2002
#14	-0.64% Nov 20, 2017 - Dec 5, 2017	-8.92% Aug 6, 2001 - Jun 13, 2002
#15	-0.58% Dec 21, 2018 - Dec 28, 2018	-8.62% Oct 30, 2009 - Mar 26, 2010

Correlation

Correlation between FCAL and NPV is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (2000 - 2026)

FCAL vs NPV dividend yield comparison.

Year	FCAL	NPV
2026	2.35%	4.83%
2025	3.22%	7.55%
2024	2.99%	5.63%
2023	2.74%	3.89%
2022	2.38%	5.08%
2021	2.03%	3.42%
2020	2.11%	3.49%
2019	2.68%	3.58%
2018	2.99%	4.62%
2017	1.30%	4.40%
2016	0.00%	4.87%
2015	0.00%	5.25%
2014	0.00%	5.73%
2013	0.00%	6.15%
2012	0.00%	4.35%
2011	0.00%	4.93%
2010	0.00%	5.47%
2009	0.00%	4.57%
2008	0.00%	6.13%
2007	0.00%	5.58%
2006	0.00%	5.00%
2005	0.00%	6.85%
2004	0.00%	5.19%
2003	0.00%	5.29%
2002	0.00%	5.05%
2001	0.00%	5.32%
2000	0.00%	2.20%