FDL vs. QQJG

Last updated Jun 4, 2026

FDL (First Trust Morningstar Dividend Leaders Index Fund) and QQJG (Invesco ESG NASDAQ Next Gen 100 ETF) are both exchange-traded funds - FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index, while QQJG is a Mid Cap Growth Equities fund tracking the Nasdaq Next Generation 100 ESG Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, FDL returned 18.97%/yr vs 14.09%/yr for QQJG. A 0.51 correlation means they provide meaningful diversification when combined. FDL charges 0.45%/yr vs 0.20%/yr for QQJG.

Performance

FDL vs. QQJG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Morningstar Dividend Leaders Index Fund (FDL) and Invesco ESG NASDAQ Next Gen 100 ETF (QQJG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDL achieves a 13.33% return, which is significantly higher than QQJG's 1.44% return.

FDL

• 1D: -0.26%
• 1M: -0.26%
• YTD: 13.33%
• 6M: 14.76%
• 1Y: 23.67%
• 3Y*: 18.97%
• 5Y*: 12.51%
• 10Y*: 11.24%

QQJG

• 1D: 0.00%
• 1M: 0.00%
• YTD: 1.44%
• 6M: 1.92%
• 1Y: 18.92%
• 3Y*: 14.09%
• 5Y*: —
• 10Y*: —

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

FDL vs. QQJG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	14.79%	17.98%	2.94%	6.66%	8.47%
QQJG Invesco ESG NASDAQ Next Gen 100 ETF	1.44%	18.05%	14.67%	17.20%	-27.69%	0.91%

Correlation

The correlation between FDL and QQJG is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021	0.51

Over the past year, the correlation between FDL and QQJG has dropped to 0.26 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

FDL vs. QQJG - Sectors Allocation Comparison

Sectors	FDL	QQJG
Energy	27.3%	1.6%
Healthcare	16.8%	18.2%
Financial Services	15.1%	0.1%
Consumer Defensive	14.7%	3.4%
Communication Services	10.6%	6.2%
Utilities	6.5%	-
Industrials	3.8%	6.4%
Consumer Cyclical	3.8%	14.3%
Technology	1.1%	44.5%
Basic Materials	0.3%	2.5%
Real Estate	-	-

Return for Risk

FDL vs. QQJG — Risk / Return Rank

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

FDL

FDL Risk / Return Rank: 70
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 70
FDL Omega Ratio Rank: 59
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 71

QQJG

QQJG Risk / Return Rank: 45
QQJG Sharpe Ratio Rank: 39
QQJG Sortino Ratio Rank: 38
QQJG Omega Ratio Rank: 46
QQJG Calmar Ratio Rank: 49
QQJG Martin Ratio Rank: 53

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.

FDL vs. QQJG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and Invesco ESG NASDAQ Next Gen 100 ETF (QQJG). 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	QQJG	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.37	+0.74
Sortino ratio: Return per unit of downside risk	3.25	1.97	+1.28
Omega ratio: Gain probability vs. loss probability	1.37	1.29	+0.08
Calmar ratio: Return relative to maximum drawdown	5.56	2.42	+3.15
Martin ratio: Return relative to average drawdown	13.56	8.87	+4.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDL vs. QQJG - Sharpe Ratio Comparison

The current FDL Sharpe Ratio is 2.11, which is higher than the QQJG Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of FDL and QQJG, 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

	FDL	QQJG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	1.37	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.17	+0.29

Drawdowns

FDL vs. QQJG - Drawdown Comparison

The maximum FDL drawdown since its inception was -65.93%, which is greater than QQJG's maximum drawdown of -36.76%. Use the drawdown chart below to compare losses from any high point for FDL and QQJG.

Drawdown Indicators

	FDL	QQJG	Difference
Max Drawdown Largest peak-to-trough decline	-65.93%	-36.76%	-29.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-7.93%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-23.48%	+11.24%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.40%	—	—
Current Drawdown Current decline from peak	-2.18%	-2.09%	-0.09%
Average Drawdown Average peak-to-trough decline	-9.66%	-15.32%	+5.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	2.15%	-0.40%

Volatility

FDL vs. QQJG - Volatility Comparison

First Trust Morningstar Dividend Leaders Index Fund (FDL) has a higher volatility of 2.85% compared to Invesco ESG NASDAQ Next Gen 100 ETF (QQJG) at 0.00%. This indicates that FDL's price experiences larger fluctuations and is considered to be riskier than QQJG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDL	QQJG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	0.00%	+2.85%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	8.32%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	14.05%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	21.70%	-7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.11%	21.70%	-4.59%

FDL vs. QQJG - Expense Ratio Comparison

FDL has a 0.45% expense ratio, which is higher than QQJG's 0.20% expense ratio.

Dividends

FDL vs. QQJG - Dividend Comparison

FDL's dividend yield for the trailing twelve months is around 3.68%, less than QQJG's 13.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.68%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
QQJG Invesco ESG NASDAQ Next Gen 100 ETF	13.86%	0.68%	0.65%	0.54%	0.70%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDL and QQJG in my portfolio?

FDL and QQJG have a correlation of 0.26, 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 QQJG?

FDL has higher volatility (2.85%) compared to QQJG (0.00%). In terms of maximum drawdown, FDL dropped -65.93% vs QQJG's -36.76%.

Which ETF is better, FDL or QQJG?

On 3-year performance, FDL leads with 18.97% vs 14.09% for QQJG. On fees, QQJG is cheaper at 0.20% per year. On volatility, QQJG has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDL or QQJG?

Over the 3-year period, FDL has performed better with a 18.97% return vs 14.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDL or QQJG?

QQJG is cheaper with a 0.20% expense ratio, compared with 0.45% for FDL.

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

QQJG has the higher dividend yield at 13.86%, compared with 3.68% for FDL.

What is the main difference between FDL and QQJG?

FDL is categorized as Large Cap Value Equities, while QQJG is Mid Cap Growth Equities. FDL tracks Morningstar Dividend Leaders Index, while QQJG tracks Nasdaq Next Generation 100 ESG Index - Benchmark TR Gross. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.45% for FDL and 0.20% for QQJG.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.11 vs 1.37), 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.