See what your fund actually adds
First Trust California Municipal High income ETF FCAL
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | FCAL | Replication |
|---|---|---|
| Annualized growth | -0.3% | 0.1% |
| Annualized volatility | 4.8% | 4.8% |
| Sharpe ratio | -0.04 | 0.04 |
| Maximum drawdown | 13.5% | 11.4% |
| Replication fit (R²) | 0.97 · Tracking error 0.8% | |
Replication portfolio
The published portfolio below is the investable basket used to model FCAL’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| MUB | FI · Municipal | 97.9% |
| SPHY | FI · High Yield | 2.1% |