FTXN vs. FDL

Last updated Jun 26, 2026

FTXN (First Trust Nasdaq Oil & Gas ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - FTXN is a Energy Equities fund tracking the Nasdaq U.S. Smart Oil & Gas Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 5 years, FTXN returned 15.47%/yr vs 13.04%/yr for FDL. A 0.58 correlation means they provide meaningful diversification when combined. FTXN charges 0.60%/yr vs 0.43%/yr for FDL.

Performance

FTXN vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq Oil & Gas ETF (FTXN) 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, FTXN achieves a 22.46% return, which is significantly higher than FDL's 12.82% return.

FTXN

• 1D: 1.04%
• 1M: -6.30%
• YTD: 22.46%
• 6M: 23.65%
• 1Y: 27.86%
• 3Y*: 12.79%
• 5Y*: 15.47%
• 10Y*: —

FDL

• 1D: 0.46%
• 1M: -1.40%
• YTD: 12.82%
• 6M: 12.61%
• 1Y: 23.52%
• 3Y*: 18.84%
• 5Y*: 13.04%
• 10Y*: 11.24%

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

FTXN vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTXN First Trust Nasdaq Oil & Gas ETF	22.46%	-0.17%	4.06%	4.91%	47.45%	69.21%	-28.10%	3.20%	-20.99%	-2.29%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.82%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-5.99%	12.02%

Correlation

The correlation between FTXN and FDL is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Sep 23, 2016	0.59

The correlation between FTXN and FDL has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.

FTXN vs. FDL - Sectors Allocation Comparison

Sectors	FTXN	FDL
Energy	100.0%	25.7%
Basic Materials	-	0.3%
Communication Services	-	10.6%
Consumer Cyclical	-	4.7%
Consumer Defensive	-	14.4%
Financial Services	-	15.2%
Healthcare	-	17.6%
Industrials	-	3.9%
Real Estate	-	-
Technology	-	1.4%
Utilities	-	6.5%

Return for Risk

FTXN vs. FDL — Risk / Return Rank

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

FTXN

FTXN Risk / Return Rank: 36
FTXN Sharpe Ratio Rank: 37
FTXN Sortino Ratio Rank: 35
FTXN Omega Ratio Rank: 32
FTXN Calmar Ratio Rank: 40
FTXN Martin Ratio Rank: 36

FDL

FDL Risk / Return Rank: 79
FDL Sharpe Ratio Rank: 74
FDL Sortino Ratio Rank: 81
FDL Omega Ratio Rank: 70
FDL Calmar Ratio Rank: 93
FDL Martin Ratio Rank: 78

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.

FTXN vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq Oil & Gas ETF (FTXN) 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.

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.

	FTXN	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.05	-0.85
Sortino ratio: Return per unit of downside risk	1.67	3.11	-1.44
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.15
Calmar ratio: Return relative to maximum drawdown	1.78	5.53	-3.75
Martin ratio: Return relative to average drawdown	4.97	12.87	-7.90

FTXN vs. FDL - Sharpe Ratio Comparison

The current FTXN Sharpe Ratio is 1.21, which is lower than the FDL Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FTXN 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.

Drawdowns

FTXN vs. FDL - Drawdown Comparison

The maximum FTXN drawdown since its inception was -73.49%, which is greater than FDL's maximum drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for FTXN and FDL.

Drawdown Indicators

	FTXN	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-73.49%	-65.93%	-7.56%
Max Drawdown (1Y) Largest decline over 1 year	-15.74%	-4.27%	-11.47%
Max Drawdown (3Y) Largest decline over 3 years	-26.96%	-12.24%	-14.72%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-16.46%	-13.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-14.53%	-2.96%	-11.57%
Average Drawdown Average peak-to-trough decline	-19.18%	-9.63%	-9.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	1.83%	+3.79%

Volatility

FTXN vs. FDL - Volatility Comparison

First Trust Nasdaq Oil & Gas ETF (FTXN) has a higher volatility of 7.68% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.39%. This indicates that FTXN'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

	FTXN	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	3.39%	+4.29%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	8.09%	+10.17%
Volatility (1Y) Calculated over the trailing 1-year period	23.24%	11.55%	+11.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.67%	14.31%	+15.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.77%	17.10%	+14.67%

FTXN vs. FDL - Expense Ratio Comparison

FTXN has a 0.60% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

FTXN vs. FDL - Dividend Comparison

FTXN's dividend yield for the trailing twelve months is around 2.56%, less than FDL's 4.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	4.69%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
FTXN First Trust Nasdaq Oil & Gas ETF	2.56%	2.83%	2.51%	3.41%	2.26%	1.04%	1.76%	2.72%	2.16%	1.78%	0.20%	0.00%

Frequently Asked Questions

Can I hold both FTXN and FDL in my portfolio?

FTXN and FDL have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTXN or FDL?

FTXN has higher volatility (7.68%) compared to FDL (3.39%). In terms of maximum drawdown, FTXN dropped -73.49% vs FDL's -65.93%.

Which ETF is better, FTXN or FDL?

On 5-year performance, FTXN leads with 15.47% vs 13.04% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTXN or FDL?

Over the 5-year period, FTXN has performed better with a 15.47% return vs 13.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTXN or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.60% for FTXN.

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

FDL has the higher dividend yield at 4.69%, compared with 2.56% for FTXN.

What is the main difference between FTXN and FDL?

FTXN is categorized as Energy Equities, while FDL is Large Cap Value Equities. FTXN tracks Nasdaq U.S. Smart Oil & Gas Index, while FDL tracks Morningstar Dividend Leaders Index. Their fees differ too: 0.60% for FTXN and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.05 vs 1.21), 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.