DFII vs. FDL
DFII (FT Vest Bitcoin Strategy & Target Income ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - DFII is a Cryptocurrency fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. DFII is actively managed, while FDL is passively managed. Over the past year, DFII returned -42.25% vs 28.15% for FDL. Their 0.09 correlation means their historical movements had little consistent relationship. DFII charges 0.85%/yr vs 0.43%/yr for FDL.
Performance
DFII vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, DFII achieves a -26.30% return, which is significantly lower than FDL's 18.62% return.
DFII
- 1D
- 1.51%
- 1M
- 4.16%
- 6M
- -17.04%
- YTD
- -26.30%
- 1Y
- -42.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -16.90%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $89.28K | $83.20K | $138.38K | |
| $51.38M | $49.50M | $43.21M |
DFII vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DFII FT Vest Bitcoin Strategy & Target Income ETF | -26.30% | 6.01% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 18.62% | 6.12% |
Correlation
The correlation between DFII and FDL is 0.04, 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. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025 | 0.09 |
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Return for Risk
DFII vs. FDL — Risk / Return Rank
DFII
FDL
DFII vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy & Target Income ETF (DFII) 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.
| DFII | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.39 | ||
| Sortino ratioReturn per unit of downside risk | -5.04 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.42 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | -0.83 | 6.62 | -7.45 |
| Martin ratioReturn relative to average drawdown | -1.27 | 15.62 | -16.89 |
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Drawdowns
DFII vs. FDL - Drawdown Comparison
The maximum DFII drawdown since its inception was -51.04%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for DFII and FDL.
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Drawdown Indicators
| DFII | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.04% | -65.93% | +14.89% |
Max Drawdown (1Y)Largest decline over 1 year | -51.04% | -4.27% | -46.77% |
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 DrawdownCurrent decline from peak | -47.04% | -1.58% | -45.46% |
Average DrawdownAverage peak-to-trough decline | -22.48% | -9.59% | -12.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.20% | 1.81% | +31.39% |
Volatility
DFII vs. FDL - Volatility Comparison
FT Vest Bitcoin Strategy & Target Income ETF (DFII) has a higher volatility of 8.02% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.65%. This indicates that DFII'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
| DFII | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.02% | 4.65% | +3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 32.51% | 8.75% | +23.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.22% | 11.89% | +30.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.31% | 14.44% | +25.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.31% | 17.16% | +23.15% |
DFII vs. FDL - Expense Ratio Comparison
DFII has a 0.85% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
DFII vs. FDL - Dividend Comparison
DFII's dividend yield for the trailing twelve months is around 25.88%, more than FDL's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFII FT Vest Bitcoin Strategy & Target Income ETF | 25.88% | 15.51% | 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
DFII and FDL have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DFII has higher volatility (8.02%) compared to FDL (4.65%). In terms of maximum drawdown, DFII dropped -51.04% vs FDL's -65.93%.
On 1-year performance, FDL leads with 28.15% vs -42.25% for DFII. 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.
Over the 1-year period, FDL has performed better with a 28.15% return vs -42.25%. 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 0.85% for DFII.
DFII has the higher dividend yield at 25.88%, compared with 3.58% for FDL.
DFII is categorized as Cryptocurrency, while FDL is Large Cap Value Equities. Their fees differ too: 0.85% for DFII and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (2.38 vs -1.01), 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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