FCAL vs SPY
Comparison between FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed FCAL, delivering a return of +13.3% compared to +0.8%
FCAL vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
FCAL vs SPY - Historical Returns
Returns include dividend reinvestment.
FCAL vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | FCAL | SPY |
|---|---|---|
| 2026 | +1.74% | +8.26% |
| 2025 | +3.05% | +18.00% |
| 2024 | +1.84% | +25.59% |
| 2023 | +6.19% | +26.72% |
| 2022 | -9.40% | -18.64% |
| 2021 | +3.02% | +30.52% |
| 2020 | +3.39% | +17.28% |
| 2019 | +9.63% | +31.09% |
| 2018 | +1.01% | -5.24% |
| 2017 | +4.40% | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
FCAL vs SPY Drawdown Comparison
The maximum drawdown for FCAL was -14.81%, occurring on Mar 20, 2020. Recovery took 204 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current FCAL drawdown is -0.34%. The current SPY drawdown is -2.90%.
| Rank | FCAL | SPY |
|---|---|---|
| #1 | -14.81% Feb 28, 2020 - Dec 17, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -14.44% Jul 20, 2021 - Nov 11, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -2.96% Dec 29, 2017 - Dec 21, 2018 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -2.57% Feb 27, 2026 - Mar 27, 2026 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -2.28% Feb 12, 2021 - May 6, 2021 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -1.27% Aug 28, 2019 - Oct 8, 2019 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -1.10% Oct 9, 2019 - Dec 27, 2019 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -1.03% Dec 7, 2017 - Dec 28, 2017 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -0.88% Aug 15, 2017 - Sep 12, 2017 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -0.71% Apr 15, 2019 - Apr 30, 2019 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -0.71% Sep 12, 2017 - Oct 19, 2017 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -0.65% Dec 28, 2018 - Jan 31, 2019 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -0.64% Nov 20, 2017 - Dec 5, 2017 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -0.58% Dec 21, 2018 - Dec 28, 2018 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -0.57% Mar 29, 2019 - Apr 15, 2019 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between FCAL and SPY is 0.80 which considered as a strong positive correlation - the stocks tend to move together.
Dividend Comparison (1999 - 2026)
FCAL vs SPY dividend yield comparison.
| Year | FCAL | SPY |
|---|---|---|
| 2026 | 1.43% | 0.24% |
| 2025 | 3.22% | 1.07% |
| 2024 | 2.99% | 1.21% |
| 2023 | 2.74% | 1.40% |
| 2022 | 2.38% | 1.65% |
| 2021 | 2.03% | 1.20% |
| 2020 | 2.11% | 1.52% |
| 2019 | 2.68% | 1.75% |
| 2018 | 2.99% | 2.04% |
| 2017 | 1.30% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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