FVC vs. FDL
FVC (First Trust Dorsey Wright Dynamic Focus 5 ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - FVC is a Hedge Fund fund tracking the Dorsey Wright Dynamic Focus Five Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 10 years, FVC returned 8.56%/yr vs 11.09%/yr for FDL. A 0.52 correlation means they provide meaningful diversification when combined. FVC charges 0.71%/yr vs 0.43%/yr for FDL.
Performance
FVC vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, FVC achieves a 14.86% return, which is significantly higher than FDL's 12.30% return. Over the past 10 years, FVC has underperformed FDL with an annualized return of 8.56%, while FDL has yielded a comparatively higher 11.09% annualized return.
FVC
- 1D
- -0.05%
- 1M
- 1.47%
- YTD
- 14.86%
- 6M
- 13.30%
- 1Y
- 20.47%
- 3Y*
- 9.81%
- 5Y*
- 4.32%
- 10Y*
- 8.56%
FDL
- 1D
- -0.32%
- 1M
- -3.06%
- YTD
- 12.30%
- 6M
- 12.10%
- 1Y
- 21.91%
- 3Y*
- 18.97%
- 5Y*
- 12.94%
- 10Y*
- 11.09%
FVC vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF | 14.86% | 2.12% | 12.43% | -4.59% | -6.03% | 21.92% | 12.71% | 19.28% | -8.60% | 19.74% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 12.30% | 14.79% | 17.98% | 2.94% | 6.66% | 26.10% | -4.30% | 24.41% | -5.99% | 12.02% |
Correlation
The correlation between FVC 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 | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2016 | 0.52 |
Over the past year, the correlation between FVC and FDL has dropped to 0.22 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.
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Return for Risk
FVC vs. FDL — Risk / Return Rank
FVC
FDL
FVC vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) 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.
| FVC | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 5.15 | -3.61 |
| Martin ratioReturn relative to average drawdown | 6.00 | 12.05 | -6.05 |
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Drawdowns
FVC vs. FDL - Drawdown Comparison
The maximum FVC drawdown since its inception was -30.96%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for FVC and FDL.
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Drawdown Indicators
| FVC | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -65.93% | +34.97% |
Max Drawdown (1Y)Largest decline over 1 year | -13.32% | -4.27% | -9.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.75% | -12.24% | -2.51% |
Max Drawdown (5Y)Largest decline over 5 years | -22.62% | -16.46% | -6.16% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | -41.40% | +10.44% |
Current DrawdownCurrent decline from peak | -2.17% | -3.40% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -7.03% | -9.63% | +2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 1.82% | +1.60% |
Volatility
FVC vs. FDL - Volatility Comparison
First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) has a higher volatility of 6.76% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.54%. This indicates that FVC'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.
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Volatility by Period
| FVC | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 3.54% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 13.66% | 8.10% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.35% | 11.55% | +2.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.49% | 14.31% | +2.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 17.11% | +0.57% |
FVC vs. FDL - Expense Ratio Comparison
FVC has a 0.71% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
FVC vs. FDL - Dividend Comparison
FVC's dividend yield for the trailing twelve months is around 1.96%, less than FDL's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.71% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF | 1.96% | 2.57% | 0.78% | 1.89% | 1.50% | 0.09% | 0.21% | 1.07% | 0.24% | 0.63% | 0.67% | 0.00% |
Frequently Asked Questions
FVC 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.
FVC has higher volatility (6.76%) compared to FDL (3.54%). In terms of maximum drawdown, FVC dropped -30.96% vs FDL's -65.93%.
On 10-year performance, FDL leads with 11.09% vs 8.56% for FVC. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FDL has performed better with a 11.09% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 0.71% for FVC.
FDL has the higher dividend yield at 3.71%, compared with 1.96% for FVC.
FVC is categorized as Hedge Fund, while FDL is Large Cap Value Equities. FVC tracks Dorsey Wright Dynamic Focus Five Index, while FDL tracks Morningstar Dividend Leaders Index. Their fees differ too: 0.71% for FVC and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (1.91 vs 1.43), 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.
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