FDD vs. EFNL

Last updated Jun 4, 2026

FDD (First Trust STOXX European Select Dividend Index Fund) and EFNL (iShares MSCI Finland ETF) are both Europe Equities funds - FDD tracks the STOXX Europe Select Dividend 30 while EFNL tracks the MSCI Finland IMI 25/50 Index. Both are passively managed. Over the past 10 years, FDD returned 9.96%/yr vs 10.07%/yr for EFNL. A 0.74 correlation means they provide meaningful diversification when combined. FDD charges 0.58%/yr vs 0.53%/yr for EFNL.

Performance

FDD vs. EFNL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust STOXX European Select Dividend Index Fund (FDD) and iShares MSCI Finland ETF (EFNL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDD achieves a 11.53% return, which is significantly lower than EFNL's 21.03% return. Both investments have delivered pretty close results over the past 10 years, with FDD having a 9.96% annualized return and EFNL not far ahead at 10.07%.

FDD

• 1D: -1.17%
• 1M: 3.51%
• YTD: 11.53%
• 6M: 17.78%
• 1Y: 33.02%
• 3Y*: 25.85%
• 5Y*: 11.03%
• 10Y*: 9.96%

EFNL

• 1D: -0.44%
• 1M: 6.63%
• YTD: 21.03%
• 6M: 25.68%
• 1Y: 48.56%
• 3Y*: 21.52%
• 5Y*: 6.67%
• 10Y*: 10.07%

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

FDD vs. EFNL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDD First Trust STOXX European Select Dividend Index Fund	11.53%	62.50%	0.28%	14.16%	-16.14%	16.03%	-3.80%	23.79%	-8.98%	19.07%
EFNL iShares MSCI Finland ETF	21.03%	53.59%	-5.28%	-0.12%	-17.29%	10.50%	20.19%	13.64%	-6.86%	23.77%

Correlation

The correlation between FDD and EFNL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 27, 2012	0.74

The correlation between FDD and EFNL has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

FDD vs. EFNL - Sectors Allocation Comparison

Sectors	FDD	EFNL
Financial Services	52.2%	26.0%
Industrials	12.5%	20.8%
Consumer Cyclical	12.3%	6.6%
Energy	10.8%	5.2%
Utilities	6.0%	4.0%
Consumer Defensive	3.7%	2.9%
Real Estate	3.5%	0.7%
Basic Materials	2.9%	6.3%
Communication Services	2.1%	2.6%
Healthcare	-	3.5%
Technology	-	21.4%

Return for Risk

FDD vs. EFNL — Risk / Return Rank

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

FDD

FDD Risk / Return Rank: 64
FDD Sharpe Ratio Rank: 63
FDD Sortino Ratio Rank: 62
FDD Omega Ratio Rank: 60
FDD Calmar Ratio Rank: 70
FDD Martin Ratio Rank: 64

EFNL

EFNL Risk / Return Rank: 86
EFNL Sharpe Ratio Rank: 86
EFNL Sortino Ratio Rank: 82
EFNL Omega Ratio Rank: 79
EFNL Calmar Ratio Rank: 92
EFNL Martin Ratio Rank: 91

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.

FDD vs. EFNL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust STOXX European Select Dividend Index Fund (FDD) and iShares MSCI Finland ETF (EFNL). 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.

	FDD	EFNL	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.83	-0.67
Sortino ratio Return per unit of downside risk	2.98	3.69	-0.71
Omega ratio Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio Return relative to maximum drawdown	3.53	6.16	-2.63
Martin ratio Return relative to average drawdown	11.86	21.80	-9.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDD vs. EFNL - Sharpe Ratio Comparison

The current FDD Sharpe Ratio is 2.16, which is comparable to the EFNL Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of FDD and EFNL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDD	EFNL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.83	-0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.34	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.50	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.47	-0.37

Drawdowns

FDD vs. EFNL - Drawdown Comparison

The maximum FDD drawdown since its inception was -74.77%, which is greater than EFNL's maximum drawdown of -38.70%. Use the drawdown chart below to compare losses from any high point for FDD and EFNL.

Drawdown Indicators

	FDD	EFNL	Difference
Max Drawdown Largest peak-to-trough decline	-74.77%	-38.70%	-36.07%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-7.92%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-13.06%	-18.19%	+5.13%
Max Drawdown (5Y) Largest decline over 5 years	-35.11%	-38.70%	+3.59%
Max Drawdown (10Y) Largest decline over 10 years	-41.43%	-38.70%	-2.73%
Current Drawdown Current decline from peak	-2.26%	-0.44%	-1.82%
Average Drawdown Average peak-to-trough decline	-35.47%	-10.93%	-24.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	2.23%	+0.56%

Volatility

FDD vs. EFNL - Volatility Comparison

The current volatility for First Trust STOXX European Select Dividend Index Fund (FDD) is 5.22%, while iShares MSCI Finland ETF (EFNL) has a volatility of 6.77%. This indicates that FDD experiences smaller price fluctuations and is considered to be less risky than EFNL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDD	EFNL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	6.77%	-1.55%
Volatility (6M) Calculated over the trailing 6-month period	12.35%	13.87%	-1.52%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	17.28%	-1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.39%	19.60%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.16%	20.09%	+0.07%

FDD vs. EFNL - Expense Ratio Comparison

FDD has a 0.58% expense ratio, which is higher than EFNL's 0.53% expense ratio.

Dividends

FDD vs. EFNL - Dividend Comparison

FDD's dividend yield for the trailing twelve months is around 3.55%, more than EFNL's 2.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFNL iShares MSCI Finland ETF	2.81%	3.40%	5.05%	4.31%	5.94%	2.29%	2.94%	5.70%	3.83%	3.30%	2.40%	1.57%
FDD First Trust STOXX European Select Dividend Index Fund	3.55%	3.99%	7.65%	6.85%	6.07%	3.44%	4.01%	4.69%	5.05%	2.78%	4.88%	4.35%

Frequently Asked Questions

Can I hold both FDD and EFNL in my portfolio?

FDD and EFNL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDD or EFNL?

EFNL has higher volatility (6.77%) compared to FDD (5.22%). In terms of maximum drawdown, FDD dropped -74.77% vs EFNL's -38.70%.

Which ETF is better, FDD or EFNL?

On 10-year performance, EFNL leads with 10.07% vs 9.96% for FDD. On fees, EFNL is cheaper at 0.53% per year. On volatility, FDD has been the lower-risk option at 5.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDD or EFNL?

Over the 10-year period, EFNL has performed better with a 10.07% return vs 9.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDD or EFNL?

EFNL is cheaper with a 0.53% expense ratio, compared with 0.58% for FDD.

Which ETF pays a higher dividend yield, FDD or EFNL?

FDD has the higher dividend yield at 3.55%, compared with 2.81% for EFNL.

What is the main difference between FDD and EFNL?

FDD tracks STOXX Europe Select Dividend 30, while EFNL tracks MSCI Finland IMI 25/50 Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.58% for FDD and 0.53% for EFNL.

Which has better risk-adjusted returns?

EFNL currently has the higher Sharpe Ratio (2.83 vs 2.16), 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.