FDRR vs. EQL

Last updated Aug 6, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and EQL (ALPS Equal Sector Weight ETF) are both Large Cap Blend Equities funds - FDRR tracks the Fidelity Dividend Index for Rising Rates while EQL tracks the NYSE Equal Sector Weight Index. Both are passively managed. Over the past 5 years, FDRR returned 13.18%/yr vs 10.78%/yr for EQL. Their correlation of 0.91 means they have usually moved in the same direction. FDRR charges 0.15%/yr vs 0.27%/yr for EQL.

Performance

FDRR vs. EQL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) and ALPS Equal Sector Weight ETF (EQL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDRR achieves a 15.67% return, which is significantly higher than EQL's 12.36% return.

FDRR

• 1D: 0.00%
• 1M: 5.51%
• 6M: 12.92%
• YTD: 15.67%
• 1Y: 28.88%
• 3Y*: 21.47%
• 5Y*: 13.18%
• 10Y*: —
• ALL TIME*: 14.06%

EQL

• 1D: -0.25%
• 1M: 1.57%
• 6M: 7.31%
• YTD: 12.36%
• 1Y: 19.04%
• 3Y*: 15.88%
• 5Y*: 10.78%
• 10Y*: 12.45%
• ALL TIME*: 13.57%

*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)
EQL ALPS Equal Sector Weight ETF	$3.29M	$2.86M	$2.72M
FDRR Fidelity Dividend ETF for Rising Rates	$1.12M	$1.06M	$1.10M

FDRR vs. EQL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	15.67%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%
EQL ALPS Equal Sector Weight ETF	12.36%	13.09%	16.44%	16.87%	-10.72%	29.32%	10.87%	27.87%	-6.12%	18.37%

Correlation

The correlation between FDRR and EQL is 0.74, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.91

The correlation between FDRR and EQL shifts across timeframes, from 0.74 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

FDRR vs. EQL - Sectors Allocation Comparison

Sectors	FDRR	EQL
Technology	35.7%	10.2%
Financial Services	12.4%	9.1%
Healthcare	10.2%	9.4%
Communication Services	9.6%	8.9%
Industrials	9.0%	9.3%
Consumer Cyclical	8.2%	9.6%
Consumer Defensive	4.7%	8.8%
Energy	3.2%	8.7%
Real Estate	2.9%	8.7%
Utilities	2.3%	9.4%
Basic Materials	1.9%	8.0%

Return for Risk

FDRR vs. EQL — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 88
FDRR Sharpe Ratio Rank: 92
FDRR Sortino Ratio Rank: 91
FDRR Omega Ratio Rank: 91
FDRR Calmar Ratio Rank: 83
FDRR Martin Ratio Rank: 85

EQL

EQL Risk / Return Rank: 79
EQL Sharpe Ratio Rank: 79
EQL Sortino Ratio Rank: 78
EQL Omega Ratio Rank: 78
EQL Calmar Ratio Rank: 77
EQL Martin Ratio Rank: 81

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.

FDRR vs. EQL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) and ALPS Equal Sector Weight ETF (EQL). 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.

	FDRR	EQL	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.03	+0.51
Sortino ratio: Return per unit of downside risk	3.53	2.83	+0.71
Omega ratio: Gain probability vs. loss probability	1.46	1.37	+0.09
Calmar ratio: Return relative to maximum drawdown	3.41	3.09	+0.32
Martin ratio: Return relative to average drawdown	13.50	12.10	+1.41

FDRR vs. EQL - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.54, which is comparable to the EQL Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FDRR and EQL, 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

FDRR vs. EQL - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, roughly equal to the maximum EQL drawdown of -35.65%. Use the drawdown chart below to compare losses from any high point for FDRR and EQL.

Drawdown Indicators

	FDRR	EQL	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-35.65%	-0.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-6.19%	-2.33%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-15.07%	-2.97%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-19.24%	-1.68%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.65%	—
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-3.96%	-3.23%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.58%	+0.56%

Volatility

FDRR vs. EQL - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) has a higher volatility of 3.41% compared to ALPS Equal Sector Weight ETF (EQL) at 2.41%. This indicates that FDRR's price experiences larger fluctuations and is considered to be riskier than EQL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDRR	EQL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	2.41%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	7.12%	+1.85%
Volatility (1Y) Calculated over the trailing 1-year period	11.42%	9.43%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.01%	14.52%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	16.49%	+0.31%

FDRR vs. EQL - Expense Ratio Comparison

FDRR has a 0.15% expense ratio, which is lower than EQL's 0.27% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FDRR vs. EQL - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.02%, more than EQL's 1.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQL ALPS Equal Sector Weight ETF	1.33%	1.73%	1.78%	1.96%	2.14%	1.69%	2.29%	1.95%	2.39%	1.97%	2.89%	2.07%
FDRR Fidelity Dividend ETF for Rising Rates	2.02%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%	0.00%

Frequently Asked Questions

Can I hold both FDRR and EQL in my portfolio?

FDRR and EQL 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, FDRR or EQL?

FDRR has higher volatility (3.41%) compared to EQL (2.41%). In terms of maximum drawdown, FDRR dropped -36.52% vs EQL's -35.65%.

Which ETF is better, FDRR or EQL?

On 5-year performance, FDRR leads with 13.18% vs 10.78% for EQL. On fees, FDRR is cheaper at 0.15% per year. On volatility, EQL has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDRR or EQL?

Over the 5-year period, FDRR has performed better with a 13.18% return vs 10.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDRR or EQL?

FDRR is cheaper with a 0.15% expense ratio, compared with 0.27% for EQL.

Which ETF pays a higher dividend yield, FDRR or EQL?

FDRR has the higher dividend yield at 2.02%, compared with 1.33% for EQL.

What is the main difference between FDRR and EQL?

FDRR tracks Fidelity Dividend Index for Rising Rates, while EQL tracks NYSE Equal Sector Weight Index. They also come from different issuers: Fidelity and SS&C. Their fees differ too: 0.15% for FDRR and 0.27% for EQL.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.54 vs 2.03), 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.