FDL vs. CSMD
FDL (First Trust Morningstar Dividend Leaders Index Fund) and CSMD (Congress SMID Growth ETF) are both exchange-traded funds - FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index, while CSMD is a Mid Cap Growth Equities fund actively managed by Congress. FDL is passively managed, while CSMD is actively managed. Over the past year, FDL returned 28.15% vs 8.60% for CSMD. Their 0.38 correlation means their historical movements had little consistent relationship. FDL charges 0.43%/yr vs 0.68%/yr for CSMD.
Performance
FDL vs. CSMD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FDL achieves a 18.62% return, which is significantly higher than CSMD's 9.08% 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%
CSMD
- 1D
- 2.31%
- 1M
- -3.58%
- 6M
- 2.59%
- YTD
- 9.08%
- 1Y
- 8.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.22M | $1.17M | $1.44M | |
| $51.38M | $49.50M | $43.21M |
FDL vs. CSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 18.62% | 14.79% | 17.98% | 6.82% |
CSMD Congress SMID Growth ETF | 9.08% | 5.68% | 12.70% | 6.54% |
Correlation
The correlation between FDL and CSMD is 0.05, 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. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | 0.38 |
Over the past year, the correlation between FDL and CSMD has dropped to 0.05 - well below their long-term average of 0.38, suggesting their price drivers have been diverging.
FDL vs. CSMD - Sectors Allocation Comparison
Sectors
FDL
CSMD
Consumer Defensive
Utilities
-
Financial Services
Healthcare
Communication Services
-
Energy
Consumer Cyclical
Technology
Industrials
Basic Materials
Real Estate
-
Consumer Defensive
FDL
CSMD
Utilities
FDL
CSMD
-
Financial Services
FDL
CSMD
Healthcare
FDL
CSMD
Communication Services
FDL
CSMD
-
Energy
FDL
CSMD
Consumer Cyclical
FDL
CSMD
Technology
FDL
CSMD
Industrials
FDL
CSMD
Basic Materials
FDL
CSMD
Real Estate
FDL
-
CSMD
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FDL vs. CSMD — Risk / Return Rank
FDL
CSMD
FDL vs. CSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and Congress SMID Growth ETF (CSMD). 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 | CSMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.97 | ||
| Sortino ratioReturn per unit of downside risk | +2.85 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.09 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 6.62 | 0.58 | +6.03 |
| Martin ratioReturn relative to average drawdown | 15.62 | 1.67 | +13.95 |
Loading charts...
Drawdowns
FDL vs. CSMD - Drawdown Comparison
The maximum FDL drawdown since its inception was -65.93%, which is greater than CSMD's maximum drawdown of -22.54%. Use the drawdown chart below to compare losses from any high point for FDL and CSMD.
Loading charts...
Drawdown Indicators
| FDL | CSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.93% | -22.54% | -43.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.27% | -14.79% | +10.52% |
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 | -1.58% | -5.48% | +3.90% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -4.68% | -4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 5.16% | -3.35% |
Volatility
FDL vs. CSMD - Volatility Comparison
The current volatility for First Trust Morningstar Dividend Leaders Index Fund (FDL) is 4.65%, while Congress SMID Growth ETF (CSMD) has a volatility of 5.75%. This indicates that FDL experiences smaller price fluctuations and is considered to be less risky than CSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FDL | CSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 5.75% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.75% | 16.15% | -7.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.89% | 20.69% | -8.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.44% | 20.00% | -5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.16% | 20.00% | -2.84% |
FDL vs. CSMD - Expense Ratio Comparison
FDL has a 0.43% expense ratio, which is lower than CSMD's 0.68% expense ratio.
Dividends
FDL vs. CSMD - Dividend Comparison
FDL's dividend yield for the trailing twelve months is around 3.58%, while CSMD has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSMD Congress SMID Growth ETF | 0.00% | 0.00% | 0.40% | 0.02% | 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
FDL and CSMD have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSMD has higher volatility (5.75%) compared to FDL (4.65%). In terms of maximum drawdown, FDL dropped -65.93% vs CSMD's -22.54%.
On 1-year performance, FDL leads with 28.15% vs 8.60% for CSMD. 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 8.60%. 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 0.68% for CSMD.
FDL has the higher dividend yield at 3.58%, compared with 0.00% for CSMD.
FDL is categorized as Large Cap Value Equities, while CSMD is Mid Cap Growth Equities. They also come from different issuers: First Trust and Congress. Their fees differ too: 0.43% for FDL and 0.68% for CSMD.
FDL currently has the higher Sharpe Ratio (2.38 vs 0.42), 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.
Find the right allocation for FDL and CSMD
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer