ESBG vs. FDL

Last updated Jun 4, 2026

ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - ESBG is a Tactical Allocation fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. ESBG is actively managed, while FDL is passively managed. At a 0.14 correlation, their price movements are largely independent. ESBG charges 0.95%/yr vs 0.45%/yr for FDL.

Performance

ESBG vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) 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, ESBG achieves a 5.13% return, which is significantly lower than FDL's 14.21% return.

ESBG

• 1D: -1.16%
• 1M: 1.36%
• YTD: 5.13%
• 6M: 6.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 0.78%
• 1M: 0.32%
• YTD: 14.21%
• 6M: 15.52%
• 1Y: 25.50%
• 3Y*: 19.57%
• 5Y*: 12.69%
• 10Y*: 11.28%

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

ESBG vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	5.13%	5.72%
FDL First Trust Morningstar Dividend Leaders Index Fund	14.21%	4.18%

Correlation

The correlation between ESBG and FDL is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 20, 2025	0.14

Return for Risk

ESBG vs. FDL — Risk / Return Rank

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

FDL

FDL Risk / Return Rank: 77
FDL Sharpe Ratio Rank: 70
FDL Sortino Ratio Rank: 79
FDL Omega Ratio Rank: 67
FDL Calmar Ratio Rank: 92
FDL Martin Ratio Rank: 77

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.

ESBG vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ESBG	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.45	+0.43

Drawdowns

ESBG vs. FDL - Drawdown Comparison

The maximum ESBG drawdown since its inception was -18.84%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for ESBG and FDL.

Drawdown Indicators

	ESBG	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-18.84%	-65.93%	+47.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.27%	—
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	-10.85%	-1.41%	-9.44%
Average Drawdown Average peak-to-trough decline	-6.24%	-9.66%	+3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	ESBG	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.27%	11.30%	+13.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.27%	14.31%	+10.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.27%	17.11%	+8.16%

ESBG vs. FDL - Expense Ratio Comparison

ESBG has a 0.95% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

ESBG vs. FDL - Dividend Comparison

ESBG's dividend yield for the trailing twelve months is around 0.58%, less than FDL's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	0.58%	0.24%	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	3.65%	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 ESBG and FDL in my portfolio?

ESBG and FDL have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ESBG or FDL?

On fees, FDL is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ESBG or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.95% for ESBG.

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

FDL has the higher dividend yield at 3.65%, compared with 0.58% for ESBG.

What is the main difference between ESBG and FDL?

ESBG is categorized as Tactical Allocation, while FDL is Large Cap Value Equities. Their fees differ too: 0.95% for ESBG and 0.45% for FDL.