FTGS vs. FDL

Last updated Jun 4, 2026

FTGS (First Trust Growth Strength ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - FTGS is a Large Cap Growth Equities fund tracking the The Growth Strength Index - Benchmark TR Gross, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 3 years, FTGS returned 18.88%/yr vs 18.97%/yr for FDL. At a 0.48 correlation, their price movements are largely independent. FTGS charges 0.60%/yr vs 0.45%/yr for FDL.

Performance

FTGS vs. FDL - Performance Comparison

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

Returns By Period

In the year-to-date period, FTGS achieves a 5.22% return, which is significantly lower than FDL's 13.33% return.

FTGS

• 1D: -0.75%
• 1M: 3.43%
• YTD: 5.22%
• 6M: 5.10%
• 1Y: 12.55%
• 3Y*: 18.88%
• 5Y*: —
• 10Y*: —

FDL

• 1D: -0.26%
• 1M: -0.26%
• YTD: 13.33%
• 6M: 14.76%
• 1Y: 23.67%
• 3Y*: 18.97%
• 5Y*: 12.51%
• 10Y*: 11.24%

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

FTGS vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FTGS First Trust Growth Strength ETF	5.22%	12.78%	15.76%	33.69%	1.09%
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	14.79%	17.98%	2.94%	3.57%

Correlation

The correlation between FTGS and FDL is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Oct 27, 2022	0.48

Over the past year, the correlation between FTGS and FDL has dropped to 0.22 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

FTGS vs. FDL - Sectors Allocation Comparison

Sectors	FTGS	FDL
Technology	30.6%	1.1%
Healthcare	17.6%	16.8%
Financial Services	16.2%	15.1%
Consumer Cyclical	13.6%	3.8%
Industrials	12.3%	3.8%
Communication Services	5.7%	10.6%
Energy	4.8%	27.3%
Consumer Defensive	2.0%	14.7%
Basic Materials	1.9%	0.3%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

FTGS vs. FDL — Risk / Return Rank

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

FTGS

FTGS Risk / Return Rank: 27
FTGS Sharpe Ratio Rank: 26
FTGS Sortino Ratio Rank: 26
FTGS Omega Ratio Rank: 24
FTGS Calmar Ratio Rank: 27
FTGS Martin Ratio Rank: 31

FDL

FDL Risk / Return Rank: 70
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 70
FDL Omega Ratio Rank: 59
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 71

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.

FTGS vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Growth Strength ETF (FTGS) 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.

	FTGS	FDL	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.11	-1.17
Sortino ratio: Return per unit of downside risk	1.41	3.25	-1.85
Omega ratio: Gain probability vs. loss probability	1.17	1.37	-0.20
Calmar ratio: Return relative to maximum drawdown	1.33	5.56	-4.23
Martin ratio: Return relative to average drawdown	4.51	13.56	-9.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTGS vs. FDL - Sharpe Ratio Comparison

The current FTGS Sharpe Ratio is 0.94, which is lower than the FDL Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of FTGS and FDL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FTGS	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	2.11	-1.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.88	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.10	0.45	+0.65

Drawdowns

FTGS vs. FDL - Drawdown Comparison

The maximum FTGS drawdown since its inception was -19.99%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for FTGS and FDL.

Drawdown Indicators

	FTGS	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-65.93%	+45.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.47%	-4.27%	-5.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.99%	-12.24%	-7.75%
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	-1.66%	-2.18%	+0.52%
Average Drawdown Average peak-to-trough decline	-2.75%	-9.66%	+6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	1.75%	+1.04%

Volatility

FTGS vs. FDL - Volatility Comparison

First Trust Growth Strength ETF (FTGS) has a higher volatility of 3.33% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.85%. This indicates that FTGS's price experiences larger fluctuations and is considered to be riskier than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTGS	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	2.85%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	7.87%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	13.45%	11.28%	+2.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.15%	14.31%	+2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	17.11%	+0.04%

FTGS vs. FDL - Expense Ratio Comparison

FTGS has a 0.60% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

FTGS vs. FDL - Dividend Comparison

FTGS's dividend yield for the trailing twelve months is around 0.09%, less than FDL's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.68%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
FTGS First Trust Growth Strength ETF	0.09%	0.16%	0.39%	0.62%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTGS and FDL in my portfolio?

FTGS and FDL have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTGS or FDL?

FTGS has higher volatility (3.33%) compared to FDL (2.85%). In terms of maximum drawdown, FTGS dropped -19.99% vs FDL's -65.93%.

Which ETF is better, FTGS or FDL?

On 3-year performance, FDL leads with 18.97% vs 18.88% for FTGS. On fees, FDL is cheaper at 0.45% per year. On volatility, FDL has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTGS or FDL?

Over the 3-year period, FDL has performed better with a 18.97% return vs 18.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTGS or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.60% for FTGS.

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

FDL has the higher dividend yield at 3.68%, compared with 0.09% for FTGS.

What is the main difference between FTGS and FDL?

FTGS is categorized as Large Cap Growth Equities, while FDL is Large Cap Value Equities. FTGS tracks The Growth Strength Index - Benchmark TR Gross, while FDL tracks Morningstar Dividend Leaders Index. Their fees differ too: 0.60% for FTGS and 0.45% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.11 vs 0.94), 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.