FVD vs. DGRW

Last updated Jun 23, 2026

FVD (First Trust Value Line Dividend Index Fund) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - FVD is a Mid Cap Value Equities fund tracking the Value Line Dividend Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, FVD returned 8.54%/yr vs 14.25%/yr for DGRW. Their correlation of 0.84 suggests significant overlap in exposure. FVD charges 0.61%/yr vs 0.28%/yr for DGRW.

Performance

FVD vs. DGRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Value Line Dividend Index Fund (FVD) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVD achieves a 3.30% return, which is significantly lower than DGRW's 7.35% return. Over the past 10 years, FVD has underperformed DGRW with an annualized return of 8.54%, while DGRW has yielded a comparatively higher 14.25% annualized return.

FVD

• 1D: -0.17%
• 1M: -1.17%
• YTD: 3.30%
• 6M: 2.96%
• 1Y: 9.84%
• 3Y*: 8.73%
• 5Y*: 5.99%
• 10Y*: 8.54%

DGRW

• 1D: -0.32%
• 1M: -0.70%
• YTD: 7.35%
• 6M: 7.02%
• 1Y: 18.84%
• 3Y*: 15.46%
• 5Y*: 12.16%
• 10Y*: 14.25%

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

FVD vs. DGRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FVD First Trust Value Line Dividend Index Fund	3.30%	8.16%	10.04%	4.11%	-5.18%	25.08%	-0.02%	26.58%	-3.49%	12.51%
DGRW WisdomTree U.S. Quality Dividend Growth Fund	7.35%	12.17%	16.98%	18.66%	-6.33%	24.46%	13.87%	29.54%	-5.38%	26.90%

Correlation

The correlation between FVD and DGRW is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 22, 2013	0.84

Over the past year, the correlation between FVD and DGRW has dropped to 0.57 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.

FVD vs. DGRW - Sectors Allocation Comparison

Sectors	FVD	DGRW
Financial Services	19.0%	11.3%
Utilities	17.4%	0.2%
Industrials	14.3%	9.9%
Consumer Defensive	11.1%	6.7%
Healthcare	8.2%	12.8%
Real Estate	7.7%	-
Technology	7.3%	32.1%
Consumer Cyclical	5.7%	7.1%
Energy	3.6%	5.0%
Communication Services	2.9%	10.1%
Basic Materials	2.9%	3.3%

Return for Risk

FVD vs. DGRW — Risk / Return Rank

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

FVD

FVD Risk / Return Rank: 28
FVD Sharpe Ratio Rank: 29
FVD Sortino Ratio Rank: 29
FVD Omega Ratio Rank: 26
FVD Calmar Ratio Rank: 28
FVD Martin Ratio Rank: 27

DGRW

DGRW Risk / Return Rank: 55
DGRW Sharpe Ratio Rank: 57
DGRW Sortino Ratio Rank: 57
DGRW Omega Ratio Rank: 57
DGRW Calmar Ratio Rank: 47
DGRW Martin Ratio Rank: 57

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.

FVD vs. DGRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Value Line Dividend Index Fund (FVD) and WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.

	FVD	DGRW	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.85	-0.83
Sortino ratio: Return per unit of downside risk	1.54	2.63	-1.10
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	1.37	2.28	-0.91
Martin ratio: Return relative to average drawdown	3.52	9.75	-6.23

FVD vs. DGRW - Sharpe Ratio Comparison

The current FVD Sharpe Ratio is 1.02, which is lower than the DGRW Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of FVD and DGRW, 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

FVD vs. DGRW - Drawdown Comparison

The maximum FVD drawdown since its inception was -51.00%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for FVD and DGRW.

Drawdown Indicators

	FVD	DGRW	Difference
Max Drawdown Largest peak-to-trough decline	-51.00%	-32.04%	-18.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-8.30%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	-16.21%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	-16.41%	-17.27%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-35.25%	-32.04%	-3.21%
Current Drawdown Current decline from peak	-4.95%	-2.42%	-2.53%
Average Drawdown Average peak-to-trough decline	-5.44%	-3.01%	-2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.94%	+0.86%

Volatility

FVD vs. DGRW - Volatility Comparison

The current volatility for First Trust Value Line Dividend Index Fund (FVD) is 3.12%, while WisdomTree U.S. Quality Dividend Growth Fund (DGRW) has a volatility of 3.64%. This indicates that FVD experiences smaller price fluctuations and is considered to be less risky than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVD	DGRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	3.64%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	7.05%	8.21%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.73%	10.27%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.76%	14.01%	-1.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.46%	16.24%	-0.78%

FVD vs. DGRW - Expense Ratio Comparison

FVD has a 0.61% expense ratio, which is higher than DGRW's 0.28% expense ratio.

Dividends

FVD vs. DGRW - Dividend Comparison

FVD's dividend yield for the trailing twelve months is around 2.29%, more than DGRW's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGRW WisdomTree U.S. Quality Dividend Growth Fund	1.29%	1.43%	1.55%	1.74%	2.15%	1.78%	1.93%	2.20%	2.42%	1.71%	2.13%	2.18%
FVD First Trust Value Line Dividend Index Fund	2.29%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%

Frequently Asked Questions

Can I hold both FVD and DGRW in my portfolio?

FVD and DGRW have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVD or DGRW?

DGRW has higher volatility (3.64%) compared to FVD (3.12%). In terms of maximum drawdown, FVD dropped -51.00% vs DGRW's -32.04%.

Which ETF is better, FVD or DGRW?

On 10-year performance, DGRW leads with 14.25% vs 8.54% for FVD. On fees, DGRW is cheaper at 0.28% per year. On volatility, FVD has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVD or DGRW?

Over the 10-year period, DGRW has performed better with a 14.25% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVD or DGRW?

DGRW is cheaper with a 0.28% expense ratio, compared with 0.61% for FVD.

Which ETF pays a higher dividend yield, FVD or DGRW?

FVD has the higher dividend yield at 2.29%, compared with 1.29% for DGRW.

What is the main difference between FVD and DGRW?

FVD is categorized as Mid Cap Value Equities, while DGRW is Dividend. FVD tracks Value Line Dividend Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.61% for FVD and 0.28% for DGRW.

Which has better risk-adjusted returns?

DGRW currently has the higher Sharpe Ratio (1.85 vs 1.02), 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.