FDL vs. KWIN
FDL (First Trust Morningstar Dividend Leaders Index Fund) and KWIN (KraneShares Wahed Alternative Income Index ETF) are both Large Cap Value Equities funds - FDL tracks the Morningstar Dividend Leaders Index while KWIN tracks the Wahed Alternative Income Index. Both are passively managed. At a 0.22 correlation, their price movements are largely independent. FDL charges 0.43%/yr vs 0.51%/yr for KWIN.
Performance
FDL vs. KWIN - Performance Comparison
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Returns By Period
In the year-to-date period, FDL achieves a 14.12% return, which is significantly higher than KWIN's 1.72% return.
FDL
- 1D
- -0.96%
- 1M
- -1.84%
- 6M
- 11.21%
- YTD
- 14.12%
- 1Y
- 20.00%
- 3Y*
- 18.33%
- 5Y*
- 13.30%
- 10Y*
- 10.66%
KWIN
- 1D
- 0.13%
- 1M
- 0.25%
- 6M
- 1.37%
- YTD
- 1.72%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FDL vs. KWIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 14.12% | 6.17% |
KWIN KraneShares Wahed Alternative Income Index ETF | 1.72% | 0.61% |
Correlation
The correlation between FDL and KWIN is 0.22, 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 5, 2025 | 0.22 |
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Return for Risk
FDL vs. KWIN — Risk / Return Rank
FDL
KWIN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FDL vs. KWIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and KraneShares Wahed Alternative Income Index ETF (KWIN). 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 | KWIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.30 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.70 | — | — |
| Martin ratioReturn relative to average drawdown | 10.73 | — | — |
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Drawdowns
FDL vs. KWIN - Drawdown Comparison
The maximum FDL drawdown since its inception was -65.93%, which is greater than KWIN's maximum drawdown of -1.50%. Use the drawdown chart below to compare losses from any high point for FDL and KWIN.
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Drawdown Indicators
| FDL | KWIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.93% | -1.50% | -64.43% |
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 DrawdownCurrent decline from peak | -1.84% | -1.32% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -9.62% | -0.26% | -9.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | — | — |
Volatility
FDL vs. KWIN - Volatility Comparison
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Volatility by Period
| FDL | KWIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.43% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 4.15% | +7.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.37% | 4.15% | +10.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 4.15% | +12.97% |
FDL vs. KWIN - Expense Ratio Comparison
FDL has a 0.43% expense ratio, which is lower than KWIN's 0.51% expense ratio.
Dividends
FDL vs. KWIN - Dividend Comparison
FDL's dividend yield for the trailing twelve months is around 3.72%, while KWIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.72% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
KWIN KraneShares Wahed Alternative Income Index ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FDL and KWIN have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FDL is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FDL is cheaper with a 0.43% expense ratio, compared with 0.51% for KWIN.
FDL has the higher dividend yield at 3.72%, compared with 0.00% for KWIN.
FDL tracks Morningstar Dividend Leaders Index, while KWIN tracks Wahed Alternative Income Index. They also come from different issuers: First Trust and KraneShares. Their fees differ too: 0.43% for FDL and 0.51% for KWIN.
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