FDL vs. WTAI

Last updated Aug 2, 2026

FDL (First Trust Morningstar Dividend Leaders Index Fund) and WTAI (WisdomTree Artificial Intelligence and Innovation Fund) are both exchange-traded funds - FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index, while WTAI is a Artificial Intelligence fund tracking the WisdomTree Artificial Intelligence & Innovation Index. Both are passively managed. Over the past 3 years, FDL returned 18.28%/yr vs 24.91%/yr for WTAI. Their 0.27 correlation means their historical movements had little consistent relationship. FDL charges 0.43%/yr vs 0.45%/yr for WTAI.

Performance

FDL vs. WTAI - Performance Comparison

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

Returns By Period

In the year-to-date period, FDL achieves a 18.16% return, which is significantly lower than WTAI's 32.02% return.

FDL

• 1D: 0.02%
• 1M: 3.27%
• 6M: 9.50%
• YTD: 18.16%
• 1Y: 27.65%
• 3Y*: 18.28%
• 5Y*: 13.98%
• 10Y*: 11.09%
• ALL TIME*: 8.94%

WTAI

• 1D: 1.18%
• 1M: -9.63%
• 6M: 27.01%
• YTD: 32.02%
• 1Y: 58.80%
• 3Y*: 24.91%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.22%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDL First Trust Morningstar Dividend Leaders Index Fund	$52.24M	$50.06M	$42.95M
WTAI WisdomTree Artificial Intelligence and Innovation Fund	$14.53M	$18.03M	$13.96M

FDL vs. WTAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FDL First Trust Morningstar Dividend Leaders Index Fund	18.16%	14.79%	17.98%	2.94%	6.66%	6.78%
WTAI WisdomTree Artificial Intelligence and Innovation Fund	32.02%	34.83%	6.53%	46.32%	-42.27%	-1.93%

Correlation

The correlation between FDL and WTAI is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.25
Correlation (3Y) Balances recent behavior with more history.	0.10
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.27

The correlation between FDL and WTAI shifts across timeframes, from -0.25 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

FDL vs. WTAI - Sectors Allocation Comparison

Sectors	FDL	WTAI
Consumer Defensive	24.3%	0.4%
Utilities	15.4%	0.9%
Financial Services	13.7%	3.8%
Healthcare	11.7%	-
Communication Services	11.2%	7.2%
Energy	11.1%	-
Consumer Cyclical	4.4%	8.3%
Technology	4.3%	71.6%
Industrials	3.6%	5.6%
Basic Materials	0.4%	-
Real Estate	-	-

Return for Risk

FDL vs. WTAI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDL

FDL Risk / Return Rank: 92
FDL Sharpe Ratio Rank: 90
FDL Sortino Ratio Rank: 92
FDL Omega Ratio Rank: 88
FDL Calmar Ratio Rank: 96
FDL Martin Ratio Rank: 91

WTAI

WTAI Risk / Return Rank: 59
WTAI Sharpe Ratio Rank: 61
WTAI Sortino Ratio Rank: 57
WTAI Omega Ratio Rank: 58
WTAI Calmar Ratio Rank: 55
WTAI Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDL vs. WTAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Morningstar Dividend Leaders Index Fund (FDL) and WisdomTree Artificial Intelligence and Innovation Fund (WTAI). 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	WTAI	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.43	+0.83
Sortino ratio: Return per unit of downside risk	3.41	1.92	+1.49
Omega ratio: Gain probability vs. loss probability	1.39	1.25	+0.14
Calmar ratio: Return relative to maximum drawdown	6.29	1.96	+4.33
Martin ratio: Return relative to average drawdown	14.86	7.66	+7.20

FDL vs. WTAI - Sharpe Ratio Comparison

The current FDL Sharpe Ratio is 2.26, which is higher than the WTAI Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FDL and WTAI, 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. WTAI - Drawdown Comparison

The maximum FDL drawdown since its inception was -65.93%, which is greater than WTAI's maximum drawdown of -45.96%. Use the drawdown chart below to compare losses from any high point for FDL and WTAI.

Drawdown Indicators

	FDL	WTAI	Difference
Max Drawdown Largest peak-to-trough decline	-65.93%	-45.96%	-19.97%
Max Drawdown (1Y) Largest decline over 1 year	-4.27%	-27.61%	+23.34%
Max Drawdown (3Y) Largest decline over 3 years	-12.24%	-31.83%	+19.59%
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	-1.96%	-20.43%	+18.47%
Average Drawdown Average peak-to-trough decline	-9.59%	-19.54%	+9.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	7.05%	-5.24%

Volatility

FDL vs. WTAI - Volatility Comparison

The current volatility for First Trust Morningstar Dividend Leaders Index Fund (FDL) is 4.96%, while WisdomTree Artificial Intelligence and Innovation Fund (WTAI) has a volatility of 17.48%. This indicates that FDL experiences smaller price fluctuations and is considered to be less risky than WTAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDL	WTAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	17.48%	-12.52%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	33.66%	-24.69%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	37.82%	-25.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.44%	32.70%	-18.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.16%	32.70%	-15.54%

FDL vs. WTAI - Expense Ratio Comparison

FDL has a 0.43% expense ratio, which is lower than WTAI's 0.45% expense ratio.

Dividends

FDL vs. WTAI - Dividend Comparison

FDL's dividend yield for the trailing twelve months is around 3.59%, more than WTAI's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.59%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
WTAI WisdomTree Artificial Intelligence and Innovation Fund	1.37%	1.81%	0.19%	0.24%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDL and WTAI in my portfolio?

FDL and WTAI have a correlation of -0.25, 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 WTAI?

WTAI has higher volatility (17.48%) compared to FDL (4.96%). In terms of maximum drawdown, FDL dropped -65.93% vs WTAI's -45.96%.

Which ETF is better, FDL or WTAI?

On 3-year performance, WTAI leads with 24.91% vs 18.28% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDL or WTAI?

Over the 3-year period, WTAI has performed better with a 24.91% return vs 18.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDL or WTAI?

FDL is cheaper with a 0.43% expense ratio, compared with 0.45% for WTAI.

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

FDL has the higher dividend yield at 3.59%, compared with 1.37% for WTAI.

What is the main difference between FDL and WTAI?

FDL is categorized as Large Cap Value Equities, while WTAI is Artificial Intelligence. FDL tracks Morningstar Dividend Leaders Index, while WTAI tracks WisdomTree Artificial Intelligence & Innovation Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.43% for FDL and 0.45% for WTAI.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.26 vs 1.43), 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.