AIVC vs. FDL

Last updated Aug 4, 2026

AIVC (Amplify Bloomberg AI Value Chain ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - AIVC is a Technology Equities fund tracking the Bloomberg AI Value Chain Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 10 years, AIVC returned 15.10%/yr vs 11.08%/yr for FDL. Their 0.30 correlation means their historical movements had little consistent relationship. AIVC charges 0.59%/yr vs 0.43%/yr for FDL.

Performance

AIVC vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Bloomberg AI Value Chain ETF (AIVC) and First Trust Morningstar Dividend Leaders Index Fund (FDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIVC achieves a 56.92% return, which is significantly higher than FDL's 18.62% return. Over the past 10 years, AIVC has outperformed FDL with an annualized return of 15.10%, while FDL has yielded a comparatively lower 11.08% annualized return.

AIVC

• 1D: 3.37%
• 1M: 0.06%
• 6M: 47.24%
• YTD: 56.92%
• 1Y: 96.84%
• 3Y*: 42.42%
• 5Y*: 15.82%
• 10Y*: 15.10%
• ALL TIME*: 15.34%

FDL

• 1D: 0.39%
• 1M: 3.67%
• 6M: 9.83%
• YTD: 18.62%
• 1Y: 28.15%
• 3Y*: 19.02%
• 5Y*: 14.10%
• 10Y*: 11.08%
• ALL TIME*: 8.96%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIVC Amplify Bloomberg AI Value Chain ETF	$721.94K	$1.14M	$2.79M
FDL First Trust Morningstar Dividend Leaders Index Fund	$51.38M	$49.50M	$43.21M

AIVC vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIVC Amplify Bloomberg AI Value Chain ETF	56.92%	39.94%	18.22%	39.28%	-38.91%	-7.23%	41.45%	27.78%	-18.62%	35.42%
FDL First Trust Morningstar Dividend Leaders Index Fund	18.62%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-5.99%	12.02%

Correlation

The correlation between AIVC and FDL is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (3Y) Balances recent behavior with more history.	0.11
Correlation (5Y) Shows whether the relationship held over a longer period.	0.23
Correlation (10Y) Provides a long-term view across more market conditions.	0.29
Correlation (All Time) Calculated using the full available price history since Mar 9, 2016	0.30

The correlation between AIVC and FDL shifts across timeframes, from -0.23 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

AIVC vs. FDL - Sectors Allocation Comparison

Sectors	AIVC	FDL
Technology	91.0%	4.3%
Consumer Cyclical	5.0%	4.4%
Communication Services	2.1%	11.2%
Industrials	1.7%	3.6%
Financial Services	0.0%	13.7%
Basic Materials	-	0.4%
Consumer Defensive	-	24.3%
Energy	-	11.1%
Healthcare	-	11.7%
Real Estate	-	-
Utilities	-	15.4%

Return for Risk

AIVC vs. FDL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIVC

AIVC Risk / Return Rank: 90
AIVC Sharpe Ratio Rank: 95
AIVC Sortino Ratio Rank: 89
AIVC Omega Ratio Rank: 87
AIVC Calmar Ratio Rank: 91
AIVC Martin Ratio Rank: 90

FDL

FDL Risk / Return Rank: 92
FDL Sharpe Ratio Rank: 91
FDL Sortino Ratio Rank: 93
FDL Omega Ratio Rank: 89
FDL Calmar Ratio Rank: 96
FDL Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIVC vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Bloomberg AI Value Chain ETF (AIVC) 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.

	AIVC	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.77	2.38	+0.38
Sortino ratio: Return per unit of downside risk	3.14	3.58	-0.44
Omega ratio: Gain probability vs. loss probability	1.40	1.42	-0.02
Calmar ratio: Return relative to maximum drawdown	4.18	6.62	-2.44
Martin ratio: Return relative to average drawdown	14.70	15.62	-0.92

AIVC vs. FDL - Sharpe Ratio Comparison

The current AIVC Sharpe Ratio is 2.77, which is comparable to the FDL Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of AIVC and FDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIVC vs. FDL - Drawdown Comparison

The maximum AIVC drawdown since its inception was -56.11%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for AIVC and FDL.

Drawdown Indicators

	AIVC	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-56.11%	-65.93%	+9.82%
Max Drawdown (1Y) Largest decline over 1 year	-23.29%	-4.27%	-19.02%
Max Drawdown (3Y) Largest decline over 3 years	-32.55%	-12.24%	-20.31%
Max Drawdown (5Y) Largest decline over 5 years	-53.58%	-16.46%	-37.12%
Max Drawdown (10Y) Largest decline over 10 years	-56.11%	-41.40%	-14.71%
Current Drawdown Current decline from peak	-13.72%	-1.58%	-12.14%
Average Drawdown Average peak-to-trough decline	-16.35%	-9.59%	-6.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.61%	1.81%	+4.80%

Volatility

AIVC vs. FDL - Volatility Comparison

Amplify Bloomberg AI Value Chain ETF (AIVC) has a higher volatility of 13.60% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.65%. This indicates that AIVC'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.

Volatility by Period

	AIVC	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.60%	4.65%	+8.95%
Volatility (6M) Calculated over the trailing 6-month period	29.91%	8.75%	+21.16%
Volatility (1Y) Calculated over the trailing 1-year period	35.27%	11.89%	+23.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.40%	14.44%	+16.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.52%	17.16%	+10.36%

AIVC vs. FDL - Expense Ratio Comparison

AIVC has a 0.59% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

AIVC vs. FDL - Dividend Comparison

AIVC's dividend yield for the trailing twelve months is around 0.11%, less than FDL's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIVC Amplify Bloomberg AI Value Chain ETF	0.11%	0.17%	0.21%	0.00%	0.00%	0.00%	0.39%	1.16%	0.38%	0.92%	0.64%	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

Can I hold both AIVC and FDL in my portfolio?

AIVC and FDL have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIVC or FDL?

AIVC has higher volatility (13.60%) compared to FDL (4.65%). In terms of maximum drawdown, AIVC dropped -56.11% vs FDL's -65.93%.

Which ETF is better, AIVC or FDL?

On 10-year performance, AIVC leads with 15.10% vs 11.08% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIVC or FDL?

Over the 10-year period, AIVC has performed better with a 15.10% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIVC or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.59% for AIVC.

Which ETF pays a higher dividend yield, AIVC or FDL?

FDL has the higher dividend yield at 3.58%, compared with 0.11% for AIVC.

What is the main difference between AIVC and FDL?

AIVC is categorized as Technology Equities, while FDL is Large Cap Value Equities. AIVC tracks Bloomberg AI Value Chain Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: Amplify and First Trust. Their fees differ too: 0.59% for AIVC and 0.43% for FDL.

Which has better risk-adjusted returns?

AIVC currently has the higher Sharpe Ratio (2.77 vs 2.38), 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.