FDL vs. RDVY

Last updated Jun 25, 2026

FDL (First Trust Morningstar Dividend Leaders Index Fund) and RDVY (First Trust Rising Dividend Achievers ETF) are both exchange-traded funds - FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index, while RDVY is a Dividend fund tracking the Nasdaq US Rising Dividend Achievers Index. Both are passively managed. Over the past 10 years, FDL returned 11.09%/yr vs 16.57%/yr for RDVY. A 0.73 correlation means they provide meaningful diversification when combined. FDL charges 0.43%/yr vs 0.47%/yr for RDVY.

Performance

FDL vs. RDVY - Performance Comparison

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

Returns By Period

In the year-to-date period, FDL achieves a 12.30% return, which is significantly lower than RDVY's 13.93% return. Over the past 10 years, FDL has underperformed RDVY with an annualized return of 11.09%, while RDVY has yielded a comparatively higher 16.57% annualized return.

FDL

• 1D: -0.32%
• 1M: -3.06%
• YTD: 12.30%
• 6M: 12.10%
• 1Y: 21.91%
• 3Y*: 18.97%
• 5Y*: 12.94%
• 10Y*: 11.09%

RDVY

• 1D: 0.47%
• 1M: 4.92%
• YTD: 13.93%
• 6M: 11.90%
• 1Y: 28.72%
• 3Y*: 21.86%
• 5Y*: 12.43%
• 10Y*: 16.57%

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

FDL vs. RDVY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDL First Trust Morningstar Dividend Leaders Index Fund	12.30%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-5.99%	12.02%
RDVY First Trust Rising Dividend Achievers ETF	13.93%	18.90%	16.41%	20.38%	-13.27%	31.14%	13.47%	37.71%	-9.92%	22.75%

Correlation

The correlation between FDL and RDVY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 7, 2014	0.73

Over the past year, the correlation between FDL and RDVY has dropped to 0.31 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

FDL vs. RDVY - Sectors Allocation Comparison

Sectors	FDL	RDVY
Energy	25.7%	2.4%
Healthcare	17.6%	3.9%
Financial Services	15.2%	33.5%
Consumer Defensive	14.4%	3.4%
Communication Services	10.6%	5.5%
Utilities	6.5%	1.4%
Consumer Cyclical	4.7%	10.9%
Industrials	3.9%	13.6%
Technology	1.4%	26.9%
Basic Materials	0.3%	-
Real Estate	-	-

Return for Risk

FDL vs. RDVY — Risk / Return Rank

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

FDL

FDL Risk / Return Rank: 72
FDL Sharpe Ratio Rank: 65
FDL Sortino Ratio Rank: 72
FDL Omega Ratio Rank: 60
FDL Calmar Ratio Rank: 91
FDL Martin Ratio Rank: 72

RDVY

RDVY Risk / Return Rank: 71
RDVY Sharpe Ratio Rank: 70
RDVY Sortino Ratio Rank: 71
RDVY Omega Ratio Rank: 65
RDVY Calmar Ratio Rank: 70
RDVY Martin Ratio Rank: 78

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. RDVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and First Trust Rising Dividend Achievers ETF (RDVY). 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	RDVY	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.00	-0.09
Sortino ratio: Return per unit of downside risk	2.90	2.85	+0.05
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.02
Calmar ratio: Return relative to maximum drawdown	5.15	3.19	+1.96
Martin ratio: Return relative to average drawdown	12.05	13.43	-1.37

FDL vs. RDVY - Sharpe Ratio Comparison

The current FDL Sharpe Ratio is 1.91, which is comparable to the RDVY Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FDL and RDVY, 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. RDVY - Drawdown Comparison

The maximum FDL drawdown since its inception was -65.93%, which is greater than RDVY's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for FDL and RDVY.

Drawdown Indicators

	FDL	RDVY	Difference
Max Drawdown Largest peak-to-trough decline	-65.93%	-40.60%	-25.33%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-9.04%	+4.77%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-19.11%	+6.87%
Max Drawdown (5Y) Largest decline over 5 years	-16.46%	-25.32%	+8.86%
Max Drawdown (10Y) Largest decline over 10 years	-41.40%	-40.60%	-0.80%
Current Drawdown Current decline from peak	-3.40%	-0.94%	-2.46%
Average Drawdown Average peak-to-trough decline	-9.63%	-4.98%	-4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	2.14%	-0.32%

Volatility

FDL vs. RDVY - Volatility Comparison

The current volatility for First Trust Morningstar Dividend Leaders Index Fund (FDL) is 3.54%, while First Trust Rising Dividend Achievers ETF (RDVY) has a volatility of 5.06%. This indicates that FDL experiences smaller price fluctuations and is considered to be less risky than RDVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDL	RDVY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	5.06%	-1.52%
Volatility (6M) Calculated over the trailing 6-month period	8.10%	11.57%	-3.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.55%	14.47%	-2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	18.96%	-4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.11%	21.10%	-3.99%

FDL vs. RDVY - Expense Ratio Comparison

FDL has a 0.43% expense ratio, which is lower than RDVY's 0.47% expense ratio.

Dividends

FDL vs. RDVY - Dividend Comparison

FDL's dividend yield for the trailing twelve months is around 3.71%, more than RDVY's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.71%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
RDVY First Trust Rising Dividend Achievers ETF	0.89%	1.11%	1.64%	2.09%	2.21%	1.04%	1.53%	1.55%	1.68%	1.25%	2.07%	2.14%

Frequently Asked Questions

Can I hold both FDL and RDVY in my portfolio?

FDL and RDVY have a correlation of 0.31, 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 RDVY?

RDVY has higher volatility (5.06%) compared to FDL (3.54%). In terms of maximum drawdown, FDL dropped -65.93% vs RDVY's -40.60%.

Which ETF is better, FDL or RDVY?

On 10-year performance, RDVY leads with 16.57% vs 11.09% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDL or RDVY?

Over the 10-year period, RDVY has performed better with a 16.57% return vs 11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDL or RDVY?

FDL is cheaper with a 0.43% expense ratio, compared with 0.47% for RDVY.

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

FDL has the higher dividend yield at 3.71%, compared with 0.89% for RDVY.

What is the main difference between FDL and RDVY?

FDL is categorized as Large Cap Value Equities, while RDVY is Dividend. FDL tracks Morningstar Dividend Leaders Index, while RDVY tracks Nasdaq US Rising Dividend Achievers Index. Their fees differ too: 0.43% for FDL and 0.47% for RDVY.

Which has better risk-adjusted returns?

RDVY currently has the higher Sharpe Ratio (2.00 vs 1.91), 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.