BFAP vs. FDL

Last updated Jun 24, 2026

BFAP (FT Vest Bitcoin Strategy Floor15 ETF - April) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - BFAP is a Cryptocurrency fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. BFAP is actively managed, while FDL is passively managed. Over the past year, BFAP returned -25.68% vs 22.39% for FDL. At a 0.10 correlation, their price movements are largely independent. BFAP charges 0.90%/yr vs 0.43%/yr for FDL.

Performance

BFAP vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) 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, BFAP achieves a -22.18% return, which is significantly lower than FDL's 12.67% return.

BFAP

• 1D: -1.39%
• 1M: -7.11%
• YTD: -22.18%
• 6M: -22.50%
• 1Y: -25.68%
• 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)

BFAP vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	-22.18%	8.90%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	9.49%

Correlation

The correlation between BFAP and FDL is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025	0.10

Return for Risk

BFAP vs. FDL — Risk / Return Rank

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

BFAP

BFAP Risk / Return Rank: 1
BFAP Sharpe Ratio Rank: 0
BFAP Sortino Ratio Rank: 1
BFAP Omega Ratio Rank: 1
BFAP Calmar Ratio Rank: 2
BFAP Martin Ratio Rank: 2

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.

BFAP vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) 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.

	BFAP	FDL	Difference
Sharpe ratio: Return per unit of total volatility	-1.20	1.95	-3.15
Sortino ratio: Return per unit of downside risk	-1.66	2.96	-4.62
Omega ratio: Gain probability vs. loss probability	0.80	1.34	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.77	5.26	-6.04
Martin ratio: Return relative to average drawdown	-1.40	12.40	-13.80

BFAP vs. FDL - Sharpe Ratio Comparison

The current BFAP Sharpe Ratio is -1.20, which is lower than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of BFAP 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

BFAP vs. FDL - Drawdown Comparison

The maximum BFAP drawdown since its inception was -33.31%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for BFAP and FDL.

Drawdown Indicators

	BFAP	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-33.31%	-65.93%	+32.62%
Max Drawdown (1Y) Largest decline over 1 year	-33.31%	-4.27%	-29.04%
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	-32.37%	-3.09%	-29.28%
Average Drawdown Average peak-to-trough decline	-11.64%	-9.64%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.39%	1.81%	+16.58%

Volatility

BFAP vs. FDL - Volatility Comparison

FT Vest Bitcoin Strategy Floor15 ETF - April (BFAP) has a higher volatility of 5.22% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.72%. This indicates that BFAP'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

	BFAP	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	3.72%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	16.92%	8.09%	+8.83%
Volatility (1Y) Calculated over the trailing 1-year period	21.43%	11.54%	+9.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.47%	14.31%	+6.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.47%	17.11%	+3.36%

BFAP vs. FDL - Expense Ratio Comparison

BFAP has a 0.90% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

BFAP vs. FDL - Dividend Comparison

BFAP's dividend yield for the trailing twelve months is around 24.38%, more than FDL's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFAP FT Vest Bitcoin Strategy Floor15 ETF - April	24.38%	18.97%	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 BFAP and FDL in my portfolio?

BFAP and FDL have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFAP or FDL?

BFAP has higher volatility (5.22%) compared to FDL (3.72%). In terms of maximum drawdown, BFAP dropped -33.31% vs FDL's -65.93%.

Which ETF is better, BFAP or FDL?

On 1-year performance, FDL leads with 22.39% vs -25.68% for BFAP. On fees, FDL is cheaper at 0.43% 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, BFAP or FDL?

Over the 1-year period, FDL has performed better with a 22.39% return vs -25.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BFAP or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.90% for BFAP.

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

BFAP has the higher dividend yield at 24.38%, compared with 3.70% for FDL.

What is the main difference between BFAP and FDL?

BFAP is categorized as Cryptocurrency, while FDL is Large Cap Value Equities. Their fees differ too: 0.90% for BFAP and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs -1.20), 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.