ASLV vs. FDL

Last updated Jun 24, 2026

ASLV (Allspring Special Large Value ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both Large Cap Value Equities funds. ASLV is actively managed, while FDL is passively managed. Over the past year, ASLV returned 15.62% vs 22.39% for FDL. A 0.59 correlation means they provide meaningful diversification when combined. ASLV charges 0.35%/yr vs 0.43%/yr for FDL.

Performance

ASLV vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Special Large Value ETF (ASLV) 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, ASLV achieves a 5.50% return, which is significantly lower than FDL's 12.67% return.

ASLV

• 1D: -0.52%
• 1M: 0.24%
• YTD: 5.50%
• 6M: 4.94%
• 1Y: 15.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 1.20%
• 1M: -2.75%
• YTD: 12.67%
• 6M: 13.02%
• 1Y: 22.39%
• 3Y*: 19.10%
• 5Y*: 13.08%
• 10Y*: 11.12%

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

ASLV vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
ASLV Allspring Special Large Value ETF	5.50%	14.02%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	6.48%

Correlation

The correlation between ASLV and FDL is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	0.59

The correlation between ASLV and FDL has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

Return for Risk

ASLV vs. FDL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASLV

ASLV Risk / Return Rank: 39
ASLV Sharpe Ratio Rank: 39
ASLV Sortino Ratio Rank: 40
ASLV Omega Ratio Rank: 36
ASLV Calmar Ratio Rank: 39
ASLV Martin Ratio Rank: 42

FDL

FDL Risk / Return Rank: 69
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 68
FDL Omega Ratio Rank: 57
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASLV vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Special Large Value ETF (ASLV) 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.

	ASLV	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.95	-0.66
Sortino ratio: Return per unit of downside risk	1.89	2.96	-1.08
Omega ratio: Gain probability vs. loss probability	1.22	1.34	-0.11
Calmar ratio: Return relative to maximum drawdown	1.81	5.26	-3.46
Martin ratio: Return relative to average drawdown	6.31	12.40	-6.09

ASLV vs. FDL - Sharpe Ratio Comparison

The current ASLV Sharpe Ratio is 1.29, which is lower than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of ASLV 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

ASLV vs. FDL - Drawdown Comparison

The maximum ASLV drawdown since its inception was -10.98%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for ASLV and FDL.

Drawdown Indicators

	ASLV	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-10.98%	-65.93%	+54.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-4.27%	-4.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-1.23%	-3.09%	+1.86%
Average Drawdown Average peak-to-trough decline	-1.73%	-9.64%	+7.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	1.81%	+0.67%

Volatility

ASLV vs. FDL - Volatility Comparison

Allspring Special Large Value ETF (ASLV) and First Trust Morningstar Dividend Leaders Index Fund (FDL) have volatilities of 3.83% and 3.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASLV	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.72%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	8.09%	+1.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	11.54%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	14.31%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.24%	17.11%	-1.87%

ASLV vs. FDL - Expense Ratio Comparison

ASLV has a 0.35% expense ratio, which is lower than FDL's 0.43% expense ratio.

Dividends

ASLV vs. FDL - Dividend Comparison

ASLV's dividend yield for the trailing twelve months is around 0.83%, less than FDL's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASLV Allspring Special Large Value ETF	0.83%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDL First Trust Morningstar Dividend Leaders Index Fund	3.70%	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 ASLV and FDL in my portfolio?

ASLV and FDL have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ASLV or FDL?

ASLV has higher volatility (3.83%) compared to FDL (3.72%). In terms of maximum drawdown, ASLV dropped -10.98% vs FDL's -65.93%.

Which ETF is better, ASLV or FDL?

On 1-year performance, FDL leads with 22.39% vs 15.62% for ASLV. On fees, ASLV is cheaper at 0.35% per year. On volatility, FDL has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ASLV or FDL?

Over the 1-year period, FDL has performed better with a 22.39% return vs 15.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ASLV or FDL?

ASLV is cheaper with a 0.35% expense ratio, compared with 0.43% for FDL.

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

FDL has the higher dividend yield at 3.70%, compared with 0.83% for ASLV.

What is the main difference between ASLV and FDL?

They also come from different issuers: Allspring and First Trust. Their fees differ too: 0.35% for ASLV and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs 1.29), 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.