HISF vs XAGG: Grades, Fees and Holdings Compared

First Trust High Income Strategic Focus ETF

HISFCNasdaq

Eaton Vance Strategic Income Opportunities ETF

XAGGANYSE Arca

Overlap

0.0%by weight

Expense ratio

XAGG −0.33pt a year

HISF0.83%XAGG0.50%

Avg volume · 30D

XAGG 38.3×the volume

HISF11.8KXAGG454K

HISF vs XAGG Performance

Dec 31, 2025 – Nov 9, 2026

−0.3%HISF+2.5%XAGG

Expense ratio: HISF 0.83%; XAGG 0.50%, better
Fund size: HISF $91M; XAGG $2.27B
1Y total return: HISF +0.7%; XAGG No data
Yield (12M): HISF 5.21%; XAGG No data
Holdings: HISF 12; XAGG 1084
Avg volume (30D): HISF 11.8K sh; XAGG 454K sh, better
NAV per share: HISF $43.13; XAGG $48.62
52W range

ETF.net Grade

Pillar letters and Scores for HISF, XAGG, with each pillar’s weight
Pillar	HISF	XAGG
Cost30% weight	F21	B67Higher
Mission25% weight	B56	A78Higher
Risk15% weight	C52	A71Higher
Tradability15% weight	A71Higher	A70
Holdings10% weight	C42	B65Higher
Durability5% weight	A75	A91Higher

Rank among Multi-Sector Bond Income funds

How we build Categories ›

Same Category. HISF and XAGG are both graded against the same 23 Multi-Sector Bond Income funds, so their Grades compare head to head.

Multi-Sector Bond Income⁠

Category · 23 funds

See all 23 ›

XAGG ranks 3rd and HISF 14th of 23 funds in the Multi-Sector Bond Income Category.

Rank 1AVGMSVanguard Multi-Sector Income Bond ETFScore 86
Rank 2AAINPAllspring Income Plus ETFScore 72
Rank 3AGINCGoldman Sachs ETF TrustScore 71
Rank 3AXAGGEaton Vance Strategic Income Opportunities ETFScore 71
Rank 5ATMBThornburg Multi Sector Bond ETFScore 70
Rank 13CWTBNWisdomTree Bianco Total Return FundScore 48
Rank 14CHISFFirst Trust High Income Strategic Focus ETFScore 46
Rank 15CFFLXFIRST TRUST FLEXIBLE INCOME ETFScore 45

Our read on each fund

ETF.net Research

HISFCFirst Trust High Income Strategic Focus ETF

XAGGAEaton Vance Strategic Income Opportunities ETF

In short

HISF An income-first fund that ranks risk-adjusted income above raw yield, with capital appreciation as the second job. Trading since 2014, paying monthly, built on fixed income, and charging 0.83% for the active work.

XAGG No data

Stated mandate

HISF The Fund seeks risk-adjusted income as its primary objective and capital appreciation secondarily.

XAGG No data

Why people hold it

HISF Pays monthly, so income arrives on a schedule closer to the one your expenses run on.
The mandate is explicit: risk-adjusted income first, capital appreciation second. That ordering tells you what gets priority when the two pull against each other.
Live since 2014, so there is a real operating history across very different rate regimes behind it, not a backtest.
Fixed income does the heavy lifting here, an income-built portfolio sitting in a peer group dominated by stock-and-bond allocation funds.

XAGG No data

Worth knowing

HISF At 0.83% a year, it runs above the typical expense ratio in its multi-asset peer group. Active income selection is what that premium buys.
Cheaper allocation options share the peer group: AOA at 0.19%, IRTR at 0.08%. Neither is built around an income-first mandate.
It trades thinly for its category, so limit orders and a look at the spread matter more here than with the household names.

XAGG No data

Full HISF profile⁠

Full XAGG profile⁠

HISF vs XAGG Holdings

How HISF and XAGG differ

Overlap by weight

0.0%

About this figure: HISF holds other funds. We compare those funds, not the stocks inside them.

Level by level

Holdings0 in both0.0%
Sector14 Sectors4.5%
Countryby domicile63.7%

Sector

Sector weights in HISF and XAGG, widest gap first
Sector	Gap	HISF	XAGG
Corporate	HISF +42.3 points	42.3%	0.0%
Financials	XAGG +32.6 points	3.1%	35.7%
Securitized	HISF +29.3 points	29.3%	0.0%
Real Estate	XAGG +23.8 points	0.3%	24.1%
Government	HISF +23.2 points	23.2%	0.0%
Consumer Discretionary	XAGG +11.6 points	0.1%	11.7%
Industrials	XAGG +7.6 points	0.0%	7.6%
Consumer Staples	XAGG +5.8 points	0.0%	5.8%
Technology	XAGG +5.6 points	0.0%	5.6%
Utilities	XAGG +3.7 points	0.9%	4.6%
Materials	XAGG +2.7 points	0.0%	2.7%
Energy	XAGG +2.2 points	0.0%	2.2%
Communication	HISF +0.5 points	0.5%	0.0%
Municipal	HISF +0.3 points	0.3%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in HISF and XAGG, widest gap first
Country	Gap	HISF	XAGG
United States	HISF +36.3 points	100.0%	63.7%
Hungary	XAGG +13.2 points	0.0%	13.2%
Mexico	XAGG +5.0 points	0.0%	5.0%
United Kingdom	XAGG +2.8 points	0.0%	2.8%
Luxembourg	XAGG +2.4 points	0.0%	2.4%
Brazil	XAGG +1.5 points	0.0%	1.5%
Colombia	XAGG +1.3 points	0.0%	1.3%
Canada	XAGG +1.3 points	0.0%	1.3%
Other countries (22)	XAGG +8.7 points	0.0%	8.7%

Outside the US: XAGG 33% developed, 67% emerging.

Concentration

Weight in the 10 largest Holdings

HISF95.1%
XAGG35.3%

Securities held

HISF11
XAGG967

Asset class

HISF: Multi-Asset
XAGG: Multi-Asset

Holdings

Only in HISF11
In both0
Only in XAGG967

Only in HISF

11 securities, 99.98% of HISF by weight

First Trust Core Investment Grade ETF28.21%
First Trust Tactical High Yield ETF11.92%
First Trust Intermediate Duration Investment Grade Corporate ETF10.08%
First Trust Low Duration Opportunities ETF9.94%
First Trust Long Duration Opportunities ETF7.19%
First Trust Senior Loan Fund6.85%
First Trust Smith Opportunistic Fixed Income ETF6.02%
First Trust Structured Credit Income Opportunities ETF4.99%
First Trust Limited Duration Investment Grade Corporate ETF4.97%
First Trust Preferred Securities and Income ETF4.92%
First Trust Emerging Markets Local Currency Bond ETF4.90%

Only in XAGG

967 securities, 100% of XAGG by weight

Msilf Government14.18%
Us 5YR Note 12/31/20263.80%
Tba GNMA2 Single 6%3.22%
Umbs Mortpass 6.5% 11/563.22%
Tba Umbs Single Family 6%3.19%
Tba Umbs Single 5.5%2.57%
United Mexican 8% 02/362.18%
Umbs Mortpass 6.5% 10/561.52%
Tba GNMA2 Single 5.5%1.45%
Umbs Mortpass 5.5% 06/561.38%
National Bank Zero 11/261.18%
Tba Umbs Single 6.5%1.05%
Gnma Ii 6.5% 05/661.03%
Gnma Ii Mortpass 6% 06/560.95%
Gnma Ii Mortpass 6% 05/660.85%
Umbs Mortpass 6% 09/560.75%
Tba GNMA2 Single 6.5%0.72%
United States Zero 12/260.71%
Umbs Mortpass 6% 08/560.70%
Champs Trust Var 09/610.69%
Umbs Mortpass 5.5% 09/560.66%
Gnma Ii Mortpass 6% 08/560.66%
Gnma Ii 6.5% 04/660.64%
Gs Var 04/570.55%
Fhlmc Remics Flt 05/560.53%
Republic of 8.5% 01/370.45%
Pnmac Gmsr Flt 05/310.45%
Umbs Mortpass 5.5% 01/560.43%
Fhlmc Remics 0.25% 11/560.41%
Suriname 8.5% 11/350.41%
Umbs Mortpass 5.5% 05/560.39%
Fnma Remics Flt 08/560.38%
Fnma Remics Flt 05/560.37%
Gnma Ii 6.5% 02/660.37%
Gnma Ii Mortpass 6% 07/560.37%
Gnma 2026-108 Cz 6% 06/560.35%
Gnma Ii Mortpass 6% 09/560.34%
Umbs Mortpass 5% 01/560.34%
Extended Stay Flt 02/430.33%
Republic of 7.6% 08/390.33%
Gnma Ii Mortpass 6% 10/560.33%
Rock Trust 8.81906% 11/410.32%
Gnma 2026-47 SA Flt 03/560.32%
Republic of 8.875% 02/350.32%
Republic of 6.25% 03/360.30%
Stru SNEX-4200 Var 08/550.30%
Chase Home Var 09/570.29%
Baha Trust Var 12/410.29%
Rmf Buyout 6% 10/500.28%
Fhlmc Remics Flt 10/560.28%

Weight gaps

HISF and XAGG share no securities.

All 11 HISF holdings⁠All XAGG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

HISF vs XAGG Cost

Overpaying HISF vs XAGG

$5,880

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

HISF 0.83%
$15,859
XAGG 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

HISF 0.83%
XAGG 0.50%
Overpaying

Year by year

Year	HISF	XAGG	Overpaying
10	$1,474	$900	$574
20	$5,581	$3,460	$2,121
30	$15,859	$9,979	$5,880

Expense ratio

0.83%HISF
0.50%XAGG, cheaper

XAGG0.50%HISF0.83%

0.30%1.13%

Middle half of Multi-Sector Bond Income funds
Median 0.60%

XAGG 9th cheapest of 23 funds

HISF 18th cheapest of 23 funds

HISF vs XAGG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): HISF 5.21%; XAGG No data
Payout (12M): HISF $2.25; XAGG No data
Last payment: HISF $0.18; XAGG $0.27
Ex-dividend: HISF Oct 21, 2026; XAGG Oct 30, 2026
Paid on: HISF Oct 30, 2026; XAGG Nov 5, 2026
Frequency: HISF Monthly; XAGG Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

HISFMonthly · 46 paymentsAll HISF payments⁠

XAGGMonthly · 12 paymentsAll XAGG payments⁠

HISF vs XAGG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HISF 5.2%XAGG No data
Return per unit of riskSharpe ratio, 3 years: HISF 0.25XAGG No data
Worst fallMax drawdown, 5 years: HISF −13.2%XAGG No data
Market sensitivityBeta, 5 years: HISF 0.88XAGG 0.18; Market = 1

HISF and XAGG in the news

All news⁠

ETF Filings
Morgan Stanley files seven Eaton Vance muni ETFs with the fee left blank
Sep 16, 2026XAGG

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HISF vs XAGG

In short

Stated mandate

Why people hold it

Worth knowing

How HISF and XAGG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HISF

Only in XAGG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Morgan Stanley files seven Eaton Vance muni ETFs with the fee left blank

How HISF and XAGG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HISF

Only in XAGG

Weight gaps