FDN vs. FDNI

Last updated Jun 24, 2026

FDN (First Trust Dow Jones Internet Index) and FDNI (First Trust Dow Jones International Internet ETF) are both Large Cap Growth Equities funds from First Trust - FDN tracks the Dow Jones Internet Index while FDNI tracks the Dow Jones International Internet Index. Both are passively managed. Over the past 5 years, FDN returned 1.19%/yr vs -11.29%/yr for FDNI. A 0.59 correlation means they provide meaningful diversification when combined. FDN charges 0.52%/yr vs 0.65%/yr for FDNI.

Performance

FDN vs. FDNI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones Internet Index (FDN) and First Trust Dow Jones International Internet ETF (FDNI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDN achieves a -3.99% return, which is significantly higher than FDNI's -25.93% return.

FDN

• 1D: -0.49%
• 1M: -5.63%
• YTD: -3.99%
• 6M: -4.90%
• 1Y: 0.72%
• 3Y*: 17.44%
• 5Y*: 1.19%
• 10Y*: 13.85%

FDNI

• 1D: -2.49%
• 1M: -7.71%
• YTD: -25.93%
• 6M: -26.55%
• 1Y: -23.20%
• 3Y*: 4.77%
• 5Y*: -11.29%
• 10Y*: —

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

FDN vs. FDNI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDN First Trust Dow Jones Internet Index	-3.99%	10.70%	30.35%	51.48%	-45.54%	6.55%	52.55%	19.25%	-8.00%
FDNI First Trust Dow Jones International Internet ETF	-25.93%	25.64%	22.46%	1.78%	-38.38%	-20.59%	85.27%	38.38%	-8.39%

Correlation

The correlation between FDN and FDNI is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018	0.59

The correlation between FDN and FDNI has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.

FDN vs. FDNI - Sectors Allocation Comparison

Sectors	FDN	FDNI
Technology	43.1%	17.0%
Communication Services	27.0%	35.6%
Consumer Cyclical	25.5%	42.4%
Financial Services	2.0%	4.5%
Industrials	1.3%	-
Healthcare	1.2%	0.6%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	0.7%
Utilities	-	-

Return for Risk

FDN vs. FDNI — Risk / Return Rank

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

FDN

FDN Risk / Return Rank: 9
FDN Sharpe Ratio Rank: 9
FDN Sortino Ratio Rank: 9
FDN Omega Ratio Rank: 9
FDN Calmar Ratio Rank: 9
FDN Martin Ratio Rank: 9

FDNI

FDNI Risk / Return Rank: 2
FDNI Sharpe Ratio Rank: 1
FDNI Sortino Ratio Rank: 2
FDNI Omega Ratio Rank: 2
FDNI Calmar Ratio Rank: 4
FDNI Martin Ratio Rank: 3

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.

FDN vs. FDNI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Internet Index (FDN) and First Trust Dow Jones International Internet ETF (FDNI). 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.

	FDN	FDNI	Difference
Sharpe ratio: Return per unit of total volatility	0.04	-0.96	+1.00
Sortino ratio: Return per unit of downside risk	0.18	-1.30	+1.48
Omega ratio: Gain probability vs. loss probability	1.02	0.85	+0.17
Calmar ratio: Return relative to maximum drawdown	0.03	-0.64	+0.68
Martin ratio: Return relative to average drawdown	0.09	-1.24	+1.32

FDN vs. FDNI - Sharpe Ratio Comparison

The current FDN Sharpe Ratio is 0.04, which is higher than the FDNI Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of FDN and FDNI, 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

FDN vs. FDNI - Drawdown Comparison

The maximum FDN drawdown since its inception was -61.55%, smaller than the maximum FDNI drawdown of -71.08%. Use the drawdown chart below to compare losses from any high point for FDN and FDNI.

Drawdown Indicators

	FDN	FDNI	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-71.08%	+9.53%
Max Drawdown (1Y) Largest decline over 1 year	-21.31%	-36.22%	+14.91%
Max Drawdown (3Y) Largest decline over 3 years	-24.98%	-36.22%	+11.24%
Max Drawdown (5Y) Largest decline over 5 years	-53.97%	-65.86%	+11.89%
Max Drawdown (10Y) Largest decline over 10 years	-53.97%	—	—
Current Drawdown Current decline from peak	-10.81%	-54.18%	+43.37%
Average Drawdown Average peak-to-trough decline	-11.81%	-34.65%	+22.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.54%	18.78%	-10.24%

Volatility

FDN vs. FDNI - Volatility Comparison

First Trust Dow Jones Internet Index (FDN) and First Trust Dow Jones International Internet ETF (FDNI) have volatilities of 7.48% and 7.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDN	FDNI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	7.77%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	15.51%	19.38%	-3.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	24.32%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	36.70%	-9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.63%	34.51%	-8.88%

FDN vs. FDNI - Expense Ratio Comparison

FDN has a 0.52% expense ratio, which is lower than FDNI's 0.65% expense ratio.

Dividends

FDN vs. FDNI - Dividend Comparison

FDN has not paid dividends to shareholders, while FDNI's dividend yield for the trailing twelve months is around 1.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FDN First Trust Dow Jones Internet Index	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDNI First Trust Dow Jones International Internet ETF	1.51%	1.12%	1.07%	0.40%	0.00%	0.00%	0.16%	3.12%

Frequently Asked Questions

Can I hold both FDN and FDNI in my portfolio?

FDN and FDNI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDN or FDNI?

FDNI has higher volatility (7.77%) compared to FDN (7.48%). In terms of maximum drawdown, FDN dropped -61.55% vs FDNI's -71.08%.

Which ETF is better, FDN or FDNI?

On 5-year performance, FDN leads with 1.19% vs -11.29% for FDNI. On fees, FDN is cheaper at 0.52% per year. On volatility, FDN has been the lower-risk option at 7.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDN or FDNI?

Over the 5-year period, FDN has performed better with a 1.19% return vs -11.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDN or FDNI?

FDN is cheaper with a 0.52% expense ratio, compared with 0.65% for FDNI.

Which ETF pays a higher dividend yield, FDN or FDNI?

FDNI has the higher dividend yield at 1.51%, compared with 0.00% for FDN.

What is the main difference between FDN and FDNI?

FDN tracks Dow Jones Internet Index, while FDNI tracks Dow Jones International Internet Index. Their fees differ too: 0.52% for FDN and 0.65% for FDNI.

Which has better risk-adjusted returns?

FDN currently has the higher Sharpe Ratio (0.04 vs -0.96), 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.