FDN vs. ILCG

Last updated Jun 24, 2026

FDN (First Trust Dow Jones Internet Index) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds - FDN tracks the Dow Jones Internet Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 10 years, FDN returned 13.85%/yr vs 18.10%/yr for ILCG. Their correlation of 0.86 suggests significant overlap in exposure. FDN charges 0.52%/yr vs 0.04%/yr for ILCG.

Performance

FDN vs. ILCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones Internet Index (FDN) and iShares Morningstar Growth ETF (ILCG). 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 lower than ILCG's 9.21% return. Over the past 10 years, FDN has underperformed ILCG with an annualized return of 13.85%, while ILCG has yielded a comparatively higher 18.10% annualized 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%

ILCG

• 1D: -2.86%
• 1M: -1.80%
• YTD: 9.21%
• 6M: 7.82%
• 1Y: 22.02%
• 3Y*: 23.80%
• 5Y*: 12.71%
• 10Y*: 18.10%

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

FDN vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDN First Trust Dow Jones Internet Index	-3.99%	10.70%	30.35%	51.48%	-45.54%	6.55%	52.55%	19.25%	6.17%	37.64%
ILCG iShares Morningstar Growth ETF	9.21%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between FDN and ILCG is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 23, 2006	0.86

The correlation between FDN and ILCG shifts across timeframes, from 0.74 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

FDN vs. ILCG - Sectors Allocation Comparison

Sectors	FDN	ILCG
Technology	43.1%	53.1%
Communication Services	27.0%	13.5%
Consumer Cyclical	25.5%	10.1%
Financial Services	2.0%	5.5%
Industrials	1.3%	7.7%
Healthcare	1.2%	5.2%
Basic Materials	-	1.0%
Consumer Defensive	-	1.4%
Energy	-	0.4%
Real Estate	-	1.3%
Utilities	-	0.7%

Return for Risk

FDN vs. ILCG — 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

ILCG

ILCG Risk / Return Rank: 34
ILCG Sharpe Ratio Rank: 36
ILCG Sortino Ratio Rank: 34
ILCG Omega Ratio Rank: 36
ILCG Calmar Ratio Rank: 30
ILCG Martin Ratio Rank: 34

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. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Internet Index (FDN) and iShares Morningstar Growth ETF (ILCG). 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	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	0.04	1.25	-1.22
Sortino ratio: Return per unit of downside risk	0.18	1.72	-1.54
Omega ratio: Gain probability vs. loss probability	1.02	1.23	-0.21
Calmar ratio: Return relative to maximum drawdown	0.03	1.41	-1.38
Martin ratio: Return relative to average drawdown	0.09	4.86	-4.77

FDN vs. ILCG - Sharpe Ratio Comparison

The current FDN Sharpe Ratio is 0.04, which is lower than the ILCG Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of FDN and ILCG, 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. ILCG - Drawdown Comparison

The maximum FDN drawdown since its inception was -61.55%, which is greater than ILCG's maximum drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for FDN and ILCG.

Drawdown Indicators

	FDN	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-52.98%	-8.57%
Max Drawdown (1Y) Largest decline over 1 year	-21.31%	-15.65%	-5.66%
Max Drawdown (3Y) Largest decline over 3 years	-24.98%	-23.10%	-1.88%
Max Drawdown (5Y) Largest decline over 5 years	-53.97%	-35.38%	-18.59%
Max Drawdown (10Y) Largest decline over 10 years	-53.97%	-35.38%	-18.59%
Current Drawdown Current decline from peak	-10.81%	-5.58%	-5.23%
Average Drawdown Average peak-to-trough decline	-11.81%	-8.21%	-3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.54%	4.54%	+4.00%

Volatility

FDN vs. ILCG - Volatility Comparison

First Trust Dow Jones Internet Index (FDN) and iShares Morningstar Growth ETF (ILCG) have volatilities of 7.48% and 7.83%, 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	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	7.83%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	15.51%	14.51%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	19.77%	17.70%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.36%	22.22%	+5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.63%	21.63%	+4.00%

FDN vs. ILCG - Expense Ratio Comparison

FDN has a 0.52% expense ratio, which is higher than ILCG's 0.04% expense ratio.

Dividends

FDN vs. ILCG - Dividend Comparison

FDN has not paid dividends to shareholders, while ILCG's dividend yield for the trailing twelve months is around 0.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDN First Trust Dow Jones Internet Index	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ILCG iShares Morningstar Growth ETF	0.42%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%

Frequently Asked Questions

Can I hold both FDN and ILCG in my portfolio?

FDN and ILCG have a correlation of 0.74, 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 ILCG?

ILCG has higher volatility (7.83%) compared to FDN (7.48%). In terms of maximum drawdown, FDN dropped -61.55% vs ILCG's -52.98%.

Which ETF is better, FDN or ILCG?

On 10-year performance, ILCG leads with 18.10% vs 13.85% for FDN. On fees, ILCG is cheaper at 0.04% 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 ILCG?

Over the 10-year period, ILCG has performed better with a 18.10% return vs 13.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDN or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.52% for FDN.

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

ILCG has the higher dividend yield at 0.42%, compared with 0.00% for FDN.

What is the main difference between FDN and ILCG?

FDN tracks Dow Jones Internet Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.52% for FDN and 0.04% for ILCG.

Which has better risk-adjusted returns?

ILCG currently has the higher Sharpe Ratio (1.25 vs 0.04), 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.