AFGR vs. FDL
AFGR (First Trust Active Factor Large Cap Growth ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - AFGR is a Large Cap Growth Equities fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. AFGR is actively managed, while FDL is passively managed. Over the past 5 years, AFGR returned 7.22%/yr vs 13.10%/yr for FDL. At a 0.29 correlation, their price movements are largely independent. AFGR charges 0.65%/yr vs 0.43%/yr for FDL.
Performance
AFGR vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, AFGR achieves a 1.90% return, which is significantly lower than FDL's 16.26% return.
AFGR
- 1D
- 0.27%
- 1M
- 0.10%
- YTD
- 1.90%
- 6M
- 1.80%
- 1Y
- 12.07%
- 3Y*
- 19.38%
- 5Y*
- 7.22%
- 10Y*
- —
FDL
- 1D
- 0.91%
- 1M
- 3.46%
- YTD
- 16.26%
- 6M
- 16.15%
- 1Y
- 24.87%
- 3Y*
- 19.25%
- 5Y*
- 13.10%
- 10Y*
- 11.39%
AFGR vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
AFGR First Trust Active Factor Large Cap Growth ETF | 1.90% | 17.28% | 25.96% | 45.21% | -39.18% | 13.23% | 21.39% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 16.26% | 14.79% | 17.98% | 2.94% | 6.66% | 26.10% | 15.48% |
Correlation
The correlation between AFGR and FDL is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Jul 22, 2020 | 0.29 |
The correlation between AFGR and FDL shifts across timeframes, from -0.11 (1 year) to 0.30 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
AFGR vs. FDL — Risk / Return Rank
AFGR
FDL
AFGR vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Large Cap Growth ETF (AFGR) and First Trust Morningstar Dividend Leaders Index Fund (FDL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AFGR | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -2.42 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.39 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 5.85 | -5.24 |
| Martin ratioReturn relative to average drawdown | 1.74 | 14.28 | -12.54 |
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Drawdowns
AFGR vs. FDL - Drawdown Comparison
The maximum AFGR drawdown since its inception was -45.97%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for AFGR and FDL.
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Drawdown Indicators
| AFGR | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.97% | -65.93% | +19.96% |
Max Drawdown (1Y)Largest decline over 1 year | -19.89% | -4.27% | -15.62% |
Max Drawdown (3Y)Largest decline over 3 years | -26.57% | -12.24% | -14.33% |
Max Drawdown (5Y)Largest decline over 5 years | -45.97% | -16.46% | -29.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.40% | — |
Current DrawdownCurrent decline from peak | -4.84% | 0.00% | -4.84% |
Average DrawdownAverage peak-to-trough decline | -14.30% | -9.64% | -4.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.94% | 1.76% | +5.18% |
Volatility
AFGR vs. FDL - Volatility Comparison
First Trust Active Factor Large Cap Growth ETF (AFGR) has a higher volatility of 5.45% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.70%. This indicates that AFGR's price experiences larger fluctuations and is considered to be riskier than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFGR | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 2.70% | +2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 7.69% | +6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.53% | 11.25% | +7.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.97% | 14.31% | +10.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.52% | 17.11% | +7.41% |
AFGR vs. FDL - Expense Ratio Comparison
AFGR has a 0.65% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
AFGR vs. FDL - Dividend Comparison
AFGR has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFGR First Trust Active Factor Large Cap Growth ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.58% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
Frequently Asked Questions
AFGR and FDL have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AFGR has higher volatility (5.45%) compared to FDL (2.70%). In terms of maximum drawdown, AFGR dropped -45.97% vs FDL's -65.93%.
On 5-year performance, FDL leads with 13.10% vs 7.22% for AFGR. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDL has performed better with a 13.10% return vs 7.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 0.65% for AFGR.
FDL has the higher dividend yield at 3.58%, compared with 0.00% for AFGR.
AFGR is categorized as Large Cap Growth Equities, while FDL is Large Cap Value Equities. Their fees differ too: 0.65% for AFGR and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (2.22 vs 0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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