FDL vs. FDVV
Compare and contrast key facts about First Trust Morningstar Dividend Leaders Index Fund (FDL) and Fidelity High Dividend ETF (FDVV).
FDL and FDVV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FDL is a passively managed fund by First Trust that tracks the performance of the Morningstar Dividend Leaders Index. It was launched on Mar 9, 2006. FDVV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Core Dividend Index. It was launched on Sep 12, 2016. Both FDL and FDVV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FDL vs. FDVV - Performance Comparison
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FDL vs. FDVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 15.49% | 14.79% | 17.98% | 2.94% | 6.66% | 26.10% | -4.30% | 24.41% | -5.99% | 12.02% |
FDVV Fidelity High Dividend ETF | -1.78% | 17.08% | 21.81% | 18.00% | -4.21% | 29.24% | 2.80% | 24.07% | -1.26% | 14.00% |
Returns By Period
In the year-to-date period, FDL achieves a 15.49% return, which is significantly higher than FDVV's -1.78% return.
FDL
- 1D
- 0.43%
- 1M
- 0.01%
- YTD
- 15.49%
- 6M
- 19.42%
- 1Y
- 21.84%
- 3Y*
- 18.00%
- 5Y*
- 14.12%
- 10Y*
- 11.60%
FDVV
- 1D
- 2.35%
- 1M
- -5.66%
- YTD
- -1.78%
- 6M
- 0.65%
- 1Y
- 14.82%
- 3Y*
- 16.89%
- 5Y*
- 12.68%
- 10Y*
- —
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FDL vs. FDVV - Expense Ratio Comparison
FDL has a 0.45% expense ratio, which is higher than FDVV's 0.29% expense ratio.
Return for Risk
FDL vs. FDVV — Risk / Return Rank
FDL
FDVV
FDL vs. FDVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and Fidelity High Dividend ETF (FDVV). 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.
| FDL | FDVV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.47 | 0.97 | +0.50 |
Sortino ratioReturn per unit of downside risk | 2.06 | 1.41 | +0.64 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.23 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.96 | 1.29 | +0.67 |
Martin ratioReturn relative to average drawdown | 7.63 | 5.68 | +1.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FDL | FDVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.47 | 0.97 | +0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.86 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.74 | -0.28 |
Correlation
The correlation between FDL and FDVV is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FDL vs. FDVV - Dividend Comparison
FDL's dividend yield for the trailing twelve months is around 3.61%, more than FDVV's 3.00% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.61% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
FDVV Fidelity High Dividend ETF | 3.00% | 2.89% | 2.94% | 3.77% | 3.44% | 2.70% | 3.19% | 3.93% | 4.05% | 3.66% | 1.04% | 0.00% |
Drawdowns
FDL vs. FDVV - Drawdown Comparison
The maximum FDL drawdown since its inception was -65.93%, which is greater than FDVV's maximum drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FDL and FDVV.
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Drawdown Indicators
| FDL | FDVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.93% | -40.25% | -25.68% |
Max Drawdown (1Y)Largest decline over 1 year | -11.58% | -12.34% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -20.18% | +3.72% |
Max Drawdown (10Y)Largest decline over 10 years | -41.40% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -7.04% | +6.94% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -3.85% | -5.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 2.81% | +0.29% |
Volatility
FDL vs. FDVV - Volatility Comparison
The current volatility for First Trust Morningstar Dividend Leaders Index Fund (FDL) is 2.56%, while Fidelity High Dividend ETF (FDVV) has a volatility of 4.48%. This indicates that FDL experiences smaller price fluctuations and is considered to be less risky than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDL | FDVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.56% | 4.48% | -1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 8.16% | 7.68% | +0.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 15.34% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.31% | 14.74% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 17.09% | 0.00% |