FDL vs. ABEQ

Last updated Aug 4, 2026

FDL (First Trust Morningstar Dividend Leaders Index Fund) and ABEQ (Absolute Select Value ETF) are both Large Cap Value Equities funds. FDL is passively managed, while ABEQ is actively managed. Over the past 5 years, FDL returned 14.10%/yr vs 8.42%/yr for ABEQ. Their 0.78 correlation means they have sometimes moved together and sometimes differently. FDL charges 0.43%/yr vs 0.85%/yr for ABEQ.

Performance

FDL vs. ABEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Morningstar Dividend Leaders Index Fund (FDL) and Absolute Select Value ETF (ABEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDL achieves a 18.62% return, which is significantly higher than ABEQ's 7.54% return.

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%

ABEQ

• 1D: 0.27%
• 1M: 1.30%
• 6M: 2.94%
• YTD: 7.54%
• 1Y: 13.63%
• 3Y*: 12.47%
• 5Y*: 8.42%
• 10Y*: —
• ALL TIME*: 8.10%

*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)
ABEQ Absolute Select Value ETF	$447.80K	$487.79K	$489.86K
FDL First Trust Morningstar Dividend Leaders Index Fund	$51.38M	$49.50M	$43.21M

FDL vs. ABEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FDL First Trust Morningstar Dividend Leaders Index Fund	18.62%	14.79%	17.98%	2.94%	6.66%	26.10%	-3.74%
ABEQ Absolute Select Value ETF	7.54%	15.32%	12.68%	4.63%	-1.00%	12.49%	2.14%

Correlation

The correlation between FDL and ABEQ is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 22, 2020	0.78

The correlation between FDL and ABEQ shifts across timeframes, from 0.58 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.

FDL vs. ABEQ - Sectors Allocation Comparison

Sectors	FDL	ABEQ
Consumer Defensive	24.3%	8.2%
Utilities	15.4%	3.9%
Financial Services	13.7%	27.5%
Healthcare	11.7%	6.5%
Communication Services	11.2%	6.2%
Energy	11.1%	11.0%
Consumer Cyclical	4.4%	-
Technology	4.3%	4.4%
Industrials	3.6%	16.0%
Basic Materials	0.4%	15.5%
Real Estate	-	5.2%

Return for Risk

FDL vs. ABEQ — Risk / Return Rank

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

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

ABEQ

ABEQ Risk / Return Rank: 53
ABEQ Sharpe Ratio Rank: 61
ABEQ Sortino Ratio Rank: 62
ABEQ Omega Ratio Rank: 59
ABEQ Calmar Ratio Rank: 46
ABEQ Martin Ratio Rank: 35

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.

FDL vs. ABEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and Absolute Select Value ETF (ABEQ). 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.

	FDL	ABEQ	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.50	+0.88
Sortino ratio: Return per unit of downside risk	3.58	2.18	+1.41
Omega ratio: Gain probability vs. loss probability	1.42	1.27	+0.15
Calmar ratio: Return relative to maximum drawdown	6.62	1.73	+4.88
Martin ratio: Return relative to average drawdown	15.62	3.43	+12.18

FDL vs. ABEQ - Sharpe Ratio Comparison

The current FDL Sharpe Ratio is 2.38, which is higher than the ABEQ Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FDL and ABEQ, 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

FDL vs. ABEQ - Drawdown Comparison

The maximum FDL drawdown since its inception was -65.93%, which is greater than ABEQ's maximum drawdown of -27.82%. Use the drawdown chart below to compare losses from any high point for FDL and ABEQ.

Drawdown Indicators

	FDL	ABEQ	Difference
Max Drawdown Largest peak-to-trough decline	-65.93%	-27.82%	-38.11%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-7.89%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-7.95%	-4.29%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	-17.26%	+0.80%
Max Drawdown (10Y) Largest decline over 10 years	-41.40%	—	—
Current Drawdown Current decline from peak	-1.58%	-3.76%	+2.18%
Average Drawdown Average peak-to-trough decline	-9.59%	-4.12%	-5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.98%	-2.17%

Volatility

FDL vs. ABEQ - Volatility Comparison

First Trust Morningstar Dividend Leaders Index Fund (FDL) has a higher volatility of 4.65% compared to Absolute Select Value ETF (ABEQ) at 2.78%. This indicates that FDL's price experiences larger fluctuations and is considered to be riskier than ABEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDL	ABEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.65%	2.78%	+1.87%
Volatility (6M) Calculated over the trailing 6-month period	8.75%	6.52%	+2.23%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	9.12%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.44%	10.78%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	13.75%	+3.41%

FDL vs. ABEQ - Expense Ratio Comparison

FDL has a 0.43% expense ratio, which is lower than ABEQ's 0.85% expense ratio.

Dividends

FDL vs. ABEQ - Dividend Comparison

FDL's dividend yield for the trailing twelve months is around 3.58%, more than ABEQ's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABEQ Absolute Select Value ETF	1.18%	1.25%	1.48%	2.60%	1.20%	0.60%	0.60%	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 FDL and ABEQ in my portfolio?

FDL and ABEQ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDL or ABEQ?

FDL has higher volatility (4.65%) compared to ABEQ (2.78%). In terms of maximum drawdown, FDL dropped -65.93% vs ABEQ's -27.82%.

Which ETF is better, FDL or ABEQ?

On 5-year performance, FDL leads with 14.10% vs 8.42% for ABEQ. On fees, FDL is cheaper at 0.43% per year. On volatility, ABEQ has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDL or ABEQ?

Over the 5-year period, FDL has performed better with a 14.10% return vs 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDL or ABEQ?

FDL is cheaper with a 0.43% expense ratio, compared with 0.85% for ABEQ.

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

FDL has the higher dividend yield at 3.58%, compared with 1.18% for ABEQ.

What is the main difference between FDL and ABEQ?

They also come from different issuers: First Trust and Absolute Investment Advisers. Their fees differ too: 0.43% for FDL and 0.85% for ABEQ.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.38 vs 1.50), 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.