BE vs. FDL

Last updated Aug 6, 2026

BE (Bloom Energy Corporation) is a stock, while FDL (First Trust Morningstar Dividend Leaders Index Fund) is Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Over the past 5 years, BE returned 60.97%/yr vs 13.96%/yr for FDL. Their 0.26 correlation means their historical movements had little consistent relationship.

Performance

BE vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bloom Energy Corporation (BE) 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, BE achieves a 169.69% return, which is significantly higher than FDL's 18.60% return.

BE

• 1D: 2.73%
• 1M: -20.58%
• 6M: 59.03%
• YTD: 169.69%
• 1Y: 523.05%
• 3Y*: 145.28%
• 5Y*: 60.97%
• 10Y*: —
• ALL TIME*: 37.00%

FDL

• 1D: -0.54%
• 1M: 4.47%
• 6M: 5.75%
• YTD: 18.60%
• 1Y: 26.71%
• 3Y*: 19.02%
• 5Y*: 13.96%
• 10Y*: 11.08%
• ALL TIME*: 8.95%

*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)
BE Bloom Energy Corporation	$4.33B	$3.66B	$3.58B
FDL First Trust Morningstar Dividend Leaders Index Fund	$48.97M	$49.30M	$42.41M

BE vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BE Bloom Energy Corporation	169.69%	291.22%	50.07%	-22.59%	-12.81%	-23.48%	283.67%	-25.15%	-46.63%
FDL First Trust Morningstar Dividend Leaders Index Fund	18.60%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-4.12%

Correlation

The correlation between BE and FDL is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.09
Correlation (3Y) Balances recent behavior with more history.	0.16
Correlation (5Y) Shows whether the relationship held over a longer period.	0.25
Correlation (All Time) Calculated using the full available price history since Jul 25, 2018	0.26

The correlation between BE and FDL shifts across timeframes, from -0.09 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BE vs. FDL — Risk / Return Rank

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

BE

BE Risk / Return Rank: 97
BE Sharpe Ratio Rank: 99
BE Sortino Ratio Rank: 95
BE Omega Ratio Rank: 93
BE Calmar Ratio Rank: 99
BE Martin Ratio Rank: 99

FDL

FDL Risk / Return Rank: 89
FDL Sharpe Ratio Rank: 87
FDL Sortino Ratio Rank: 90
FDL Omega Ratio Rank: 83
FDL Calmar Ratio Rank: 96
FDL Martin Ratio Rank: 88

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.

BE vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bloom Energy Corporation (BE) 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.

	BE	FDL	Difference
Sharpe ratio: Return per unit of total volatility	4.61	2.26	+2.35
Sortino ratio: Return per unit of downside risk	3.57	3.41	+0.15
Omega ratio: Gain probability vs. loss probability	1.44	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	10.02	6.28	+3.74
Martin ratio: Return relative to average drawdown	28.33	14.78	+13.55

BE vs. FDL - Sharpe Ratio Comparison

The current BE Sharpe Ratio is 4.61, which is higher than the FDL Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of BE 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

BE vs. FDL - Drawdown Comparison

The maximum BE drawdown since its inception was -92.54%, which is greater than FDL's maximum drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for BE and FDL.

Drawdown Indicators

	BE	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-92.54%	-65.93%	-26.61%
Max Drawdown (1Y) Largest decline over 1 year	-52.65%	-4.27%	-48.38%
Max Drawdown (3Y) Largest decline over 3 years	-52.65%	-12.24%	-40.41%
Max Drawdown (5Y) Largest decline over 5 years	-75.87%	-16.46%	-59.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-32.25%	-1.60%	-30.65%
Average Drawdown Average peak-to-trough decline	-51.46%	-9.59%	-41.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.59%	1.81%	+16.78%

Volatility

BE vs. FDL - Volatility Comparison

Bloom Energy Corporation (BE) has a higher volatility of 41.35% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.48%. This indicates that BE'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

	BE	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.35%	4.48%	+36.87%
Volatility (6M) Calculated over the trailing 6-month period	84.62%	8.63%	+75.99%
Volatility (1Y) Calculated over the trailing 1-year period	114.60%	11.88%	+102.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.79%	14.43%	+74.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	96.67%	17.16%	+79.51%

Dividends

BE vs. FDL - Dividend Comparison

BE 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
BE Bloom Energy Corporation	0.00%	0.00%	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	3.58%	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 BE and FDL in my portfolio?

BE and FDL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BE or FDL?

BE has higher volatility (41.35%) compared to FDL (4.48%). In terms of maximum drawdown, BE dropped -92.54% vs FDL's -65.93%.

Which has better risk-adjusted returns?

BE currently has the higher Sharpe Ratio (4.61 vs 2.26), 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.