FCVT vs SSO Fund Comparison

A comparison between FCVT and SSO based on their expense ratio, growth, holdings and how well they match their benchmark performance.

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Minafi's Take on FCVT vs SSO

Here's an in depth look at the differences between First Trust SSI Strategic Convertible Securities ETF($FCVT) and ProShares Ultra S&P500($SSO).

To start off, here's a look at the basics of each fund. Keep an eye on the FI Score. That's a custom score from 0 to 100 that we generate based on how good this fund is for the casual investor. Most investors only need a handful of total funds in their portfolio. The higher the score, the more likely this is one of those few. Score alone isn't enough! Keep reading on to see how different (or perhaps similar) these two funds are.

  • fcvt
  • ETF
  • Other
  • Other

First Trust SSI Strategic Convertible Securities ETF

Expenses: 0.95% (Better than 1% of similar funds)

This is a bad choice for a Other Other fund. See why »

  • sso
  • ETF
  • Alternative
  • Leveraged Equities

ProShares Ultra S&P500

Expenses: 0.90% (Better than 1% of similar funds)

This is an OK choice for a Leveraged Equities Alternative fund. See why »

Both $FCVT and $SSO are categorized as ETFs. ETFs have an added bonus over mutual funds of being more widely available. Mutual funds are often limited to only the issuing investment brokerage. Since these are both ETFs, you may be able to find these at a wider number of investment apps and websites.

The biggest disadvantage of ETFs is that some platforms only allow you to purchase ETFs in whole shares. So if an ETF is going for $75, you may need to invest in increments of $75. Most 401(k)'s allow for investing down to the penny, but you'll want to verify your platform allows for "fractional ETF Shares".

To learn more about the difference between these two, you can read about the difference between ETFs and Mutual Funds.

When evaluating a fund, the first things I look at are:

  • What it invests in
  • How much it charges in fees
  • How large the fund is

Let's look into these criteria one by one and see if either of these funds stands out.

Fund Holdings Comparison

Minafi's FI Score algorithm takes into account the category and market. The more niche a fund is, the lower the score. This doesn't mean it's a worse fund, but it does mean you should stop and make sure this a fund you need to diversify your portfolio.

FCVTSSO
Market Score 7.5 /10 9.8 /10
Category Score 0.0 /10 0.0 /10
Total7.59.8

A score of 10 means this is a solid market and category that almost every investor will want to have investments in. The lower the score, the more specific the investment. These scores are based on when most investors would add these funds to their portfolio. A score of 10 means that this fund (or one like it) belongs in a three-fund portfolio. The lower the score, the farther down in your portfolio a fund would go.

Winner: $SSO

Fee Comparison

Fees are one of the biggest killers of portfolio growth. The difference between a 2% fee and a 0.04% fee over 30 years can result in your portfolio having half the total value!

If you're just getting started investing and learning how fees impact your portfolio, I'd encourage you to read through my free investment course (specifically '2.2 - All About Fees') where I go over all the different types of fees you can be charged and how to lower them.

For these two funds, FCVT has an expense ratio of 0.95% while SSO has an expense ratio of 0.90%.

Winner: $SSO

Fund Size Comparison

Both FCVT and SSO have a similar number of assets under management. FCVT has 166 Million in assets under management, while SSO has 2.15 Billion.

Minafi categorizes both of these funds as large funds. Fund size is a good indication of how many other investors trust this fund. A large fund by itself doesn't mean it's a good fund, but it is one thing to consider when figuring out how to choose the right fund.

Winner: tie

Which Should You Choose? FCVT or SSO?

Comparing these two funds isn't an apples to apples comparison. FCVT is a OtherOther fund, while SSO is a AlternativeLeveraged Equities fund.

If you're aiming to build a diversified, low-fee, tax-optimized portfolio you likely won't be choosing between these two funds since they're different enough.

Running both of these funds through Minafi's FI Score algorithm, gives FCVT a score of 40 and SSO a score of 62.

Winner: Neither, I'd research more funds if you're looking to invest for retirement.

$FCVT

First Trust SSI Strategic Convertible Securities ETF

40

Read More
Ratings
Rating TypeRating
Diversification Score1/10
Expense Ratio Score8/10
Expense Rating1/10
Market Score8/10
Category Score0/10
Overview
OverviewDetails
Fund TypeETF
Inception DateNov-3-2015
ExchangeNASDAQ
Expense Ratio0.950%
Net Assets166 Million
Yield1.55%
Holdings
DescriptionInfo
MarketOther
CategoryOther
Sectors
  • Basic Materials 6.39%
  • Communication Services 0.00%
  • Consumer Cyclicals 0.00%
  • Consumer Defensive 0.00%
  • Energy 0.00%
  • Financial Services 0.00%
  • Healthcare 5.50%
  • Industrials 25.45%
  • Real Estate 0.00%
  • Technology 0.00%
  • Utilities 62.66%
Regions
  • North America 100.00%

$SSO

ProShares Ultra S&P500

62

Read More
Ratings
Rating TypeRating
Expense Ratio Score9/10
Expense Rating1/10
Market Score10/10
Category Score0/10
Overview
OverviewDetails
Fund TypeETF
Inception DateApr-30-2018
ExchangeNYSE ARCA
Expense Ratio0.900%
Net Assets2.15 Billion
Yield0.60%
Holdings
DescriptionInfo
MarketAlternative
CategoryLeveraged Equities
Sectors
  • Basic Materials 0.00%
  • Communication Services 0.00%
  • Consumer Cyclicals 0.00%
  • Consumer Defensive 0.00%
  • Energy 0.00%
  • Financial Services 0.00%
  • Healthcare 0.00%
  • Industrials 0.00%
  • Real Estate 0.00%
  • Technology 0.00%
  • Utilities 0.00%
Regions
  • United Kingdom 0.63%

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