DVDN vs. FDL

Last updated Aug 4, 2026

DVDN (Kingsbarn Dividend Opportunity ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both Large Cap Value Equities funds. DVDN is actively managed, while FDL is passively managed. Over the past year, DVDN returned -18.74% vs 28.15% for FDL. Their 0.53 correlation means they have sometimes moved together and sometimes differently. DVDN charges 1.72%/yr vs 0.43%/yr for FDL.

Performance

DVDN vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kingsbarn Dividend Opportunity ETF (DVDN) 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, DVDN achieves a -12.28% return, which is significantly lower than FDL's 18.62% return.

DVDN

• 1D: 1.07%
• 1M: -3.03%
• 6M: -9.74%
• YTD: -12.28%
• 1Y: -18.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -5.12%

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)
DVDN Kingsbarn Dividend Opportunity ETF	$22.93K	$39.53K	$30.38K
FDL First Trust Morningstar Dividend Leaders Index Fund	$51.38M	$49.50M	$43.21M

DVDN vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DVDN Kingsbarn Dividend Opportunity ETF	-12.28%	-17.23%	2.17%	16.65%
FDL First Trust Morningstar Dividend Leaders Index Fund	18.62%	14.79%	17.98%	12.59%

Correlation

The correlation between DVDN and FDL is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.53

Over the past year, the correlation between DVDN and FDL has dropped to 0.32 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

DVDN vs. FDL - Sectors Allocation Comparison

Sectors	DVDN	FDL
Real Estate	59.7%	-
Financial Services	40.4%	13.7%
Basic Materials	-	0.4%
Communication Services	-	11.2%
Consumer Cyclical	-	4.4%
Consumer Defensive	-	24.3%
Energy	-	11.1%
Healthcare	-	11.7%
Industrials	-	3.6%
Technology	-	4.3%
Utilities	-	15.4%

Return for Risk

DVDN vs. FDL — Risk / Return Rank

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

DVDN

DVDN Risk / Return Rank: 2
DVDN Sharpe Ratio Rank: 1
DVDN Sortino Ratio Rank: 2
DVDN Omega Ratio Rank: 2
DVDN Calmar Ratio Rank: 3
DVDN Martin Ratio Rank: 3

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.

DVDN vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kingsbarn Dividend Opportunity ETF (DVDN) 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.

	DVDN	FDL	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	2.38	-3.43
Sortino ratio: Return per unit of downside risk	-1.40	3.58	-4.99
Omega ratio: Gain probability vs. loss probability	0.84	1.42	-0.57
Calmar ratio: Return relative to maximum drawdown	-0.74	6.62	-7.36
Martin ratio: Return relative to average drawdown	-1.16	15.62	-16.78

DVDN vs. FDL - Sharpe Ratio Comparison

The current DVDN Sharpe Ratio is -1.05, which is lower than the FDL Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of DVDN 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

DVDN vs. FDL - Drawdown Comparison

The maximum DVDN drawdown since its inception was -34.59%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for DVDN and FDL.

Drawdown Indicators

	DVDN	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-34.59%	-65.93%	+31.34%
Max Drawdown (1Y) Largest decline over 1 year	-25.34%	-4.27%	-21.07%
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	-33.67%	-1.58%	-32.09%
Average Drawdown Average peak-to-trough decline	-13.80%	-9.59%	-4.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.12%	1.81%	+14.31%

Volatility

DVDN vs. FDL - Volatility Comparison

The current volatility for Kingsbarn Dividend Opportunity ETF (DVDN) is 4.29%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 4.65%. This indicates that DVDN experiences smaller price fluctuations and is considered to be less risky than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVDN	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	4.65%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	13.74%	8.75%	+4.99%
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	11.89%	+6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.64%	14.44%	+4.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.64%	17.16%	+1.48%

DVDN vs. FDL - Expense Ratio Comparison

DVDN has a 1.72% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

DVDN vs. FDL - Dividend Comparison

DVDN's dividend yield for the trailing twelve months is around 15.34%, more than FDL's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVDN Kingsbarn Dividend Opportunity ETF	15.34%	17.27%	14.43%	2.74%	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 DVDN and FDL in my portfolio?

DVDN and FDL have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVDN or FDL?

FDL has higher volatility (4.65%) compared to DVDN (4.29%). In terms of maximum drawdown, DVDN dropped -34.59% vs FDL's -65.93%.

Which ETF is better, DVDN or FDL?

On 1-year performance, FDL leads with 28.15% vs -18.74% for DVDN. On fees, FDL is cheaper at 0.43% per year. On volatility, DVDN has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVDN or FDL?

Over the 1-year period, FDL has performed better with a 28.15% return vs -18.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVDN or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 1.72% for DVDN.

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

DVDN has the higher dividend yield at 15.34%, compared with 3.58% for FDL.

What is the main difference between DVDN and FDL?

They also come from different issuers: Kingsbarn and First Trust. Their fees differ too: 1.72% for DVDN and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.38 vs -1.05), 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.