FHDG vs. FDL
FHDG (FT Vest U.S. Equity Quarterly Dynamic Buffer ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - FHDG is a Defined Outcome fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. FHDG is actively managed, while FDL is passively managed. Over the past year, FHDG returned 16.14% vs 25.50% for FDL. At a 0.32 correlation, their price movements are largely independent. FHDG charges 0.85%/yr vs 0.45%/yr for FDL.
Performance
FHDG vs. FDL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FHDG achieves a 6.91% return, which is significantly lower than FDL's 14.21% return.
FHDG
- 1D
- 0.19%
- 1M
- 1.88%
- YTD
- 6.91%
- 6M
- 7.56%
- 1Y
- 16.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FDL
- 1D
- 0.78%
- 1M
- 0.32%
- YTD
- 14.21%
- 6M
- 15.52%
- 1Y
- 25.50%
- 3Y*
- 19.57%
- 5Y*
- 12.69%
- 10Y*
- 11.28%
FHDG vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FHDG FT Vest U.S. Equity Quarterly Dynamic Buffer ETF | 6.91% | 10.56% | 0.53% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 14.21% | 14.79% | -3.20% |
Correlation
The correlation between FHDG and FDL is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2024 | 0.32 |
The correlation between FHDG and FDL shifts across timeframes, from 0.18 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FHDG vs. FDL — Risk / Return Rank
FHDG
FDL
FHDG vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Quarterly Dynamic Buffer ETF (FHDG) and First Trust Morningstar Dividend Leaders Index Fund (FDL). 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.
| FHDG | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.40 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 5.99 | -1.91 |
| Martin ratioReturn relative to average drawdown | 22.43 | 14.59 | +7.84 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FHDG | FDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.01 | 2.27 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.45 | +0.57 |
Drawdowns
FHDG vs. FDL - Drawdown Comparison
The maximum FHDG drawdown since its inception was -14.01%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for FHDG and FDL.
Loading charts...
Drawdown Indicators
| FHDG | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.01% | -65.93% | +51.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -4.27% | +0.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -12.24% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.40% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.41% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -9.66% | +8.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.72% | 1.75% | -1.03% |
Volatility
FHDG vs. FDL - Volatility Comparison
The current volatility for FT Vest U.S. Equity Quarterly Dynamic Buffer ETF (FHDG) is 0.70%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 2.95%. This indicates that FHDG experiences smaller price fluctuations and is considered to be less risky than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FHDG | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 2.95% | -2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.38% | 7.85% | -3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.39% | 11.30% | -5.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.70% | 14.31% | -2.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.70% | 17.11% | -5.41% |
FHDG vs. FDL - Expense Ratio Comparison
FHDG has a 0.85% expense ratio, which is higher than FDL's 0.45% expense ratio.
Dividends
FHDG vs. FDL - Dividend Comparison
FHDG has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.65%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.65% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
FHDG FT Vest U.S. Equity Quarterly Dynamic Buffer ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHDG and FDL have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FDL has higher volatility (2.95%) compared to FHDG (0.70%). In terms of maximum drawdown, FHDG dropped -14.01% vs FDL's -65.93%.
On 1-year performance, FDL leads with 25.50% vs 16.14% for FHDG. On fees, FDL is cheaper at 0.45% per year. On volatility, FHDG has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FDL has performed better with a 25.50% return vs 16.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.45% expense ratio, compared with 0.85% for FHDG.
FDL has the higher dividend yield at 3.65%, compared with 0.00% for FHDG.
FHDG is categorized as Defined Outcome, while FDL is Large Cap Value Equities. Their fees differ too: 0.85% for FHDG and 0.45% for FDL.
FHDG currently has the higher Sharpe Ratio (3.01 vs 2.27), 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.
Find the right allocation for FHDG and FDL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer