FVD vs. KNG

Last updated Jul 12, 2026

FVD (First Trust Value Line Dividend Index Fund) and KNG (FT Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - FVD is a Mid Cap Value Equities fund tracking the Value Line Dividend Index, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Both are passively managed. Over the past 5 years, FVD returned 6.42%/yr vs 5.73%/yr for KNG. Their correlation of 0.92 suggests significant overlap in exposure. FVD charges 0.61%/yr vs 0.75%/yr for KNG.

Performance

FVD vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Value Line Dividend Index Fund (FVD) and FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVD achieves a 7.55% return, which is significantly lower than KNG's 8.22% return.

FVD

• 1D: 0.51%
• 1M: 2.00%
• 6M: 6.10%
• YTD: 7.55%
• 1Y: 11.06%
• 3Y*: 9.49%
• 5Y*: 6.42%
• 10Y*: 8.47%

KNG

• 1D: 0.73%
• 1M: 2.38%
• 6M: 5.60%
• YTD: 8.22%
• 1Y: 11.03%
• 3Y*: 7.51%
• 5Y*: 5.73%
• 10Y*: —

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

FVD vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FVD First Trust Value Line Dividend Index Fund	7.55%	8.16%	10.04%	4.11%	-5.18%	25.08%	-0.02%	26.58%	0.33%
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	8.22%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	26.64%	-1.56%

Correlation

The correlation between FVD and KNG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018	0.92

The correlation between FVD and KNG has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

FVD vs. KNG - Sectors Allocation Comparison

Sectors	FVD	KNG
Financial Services	19.0%	12.8%
Utilities	17.4%	5.7%
Industrials	14.3%	20.2%
Consumer Defensive	11.1%	23.6%
Healthcare	8.2%	10.2%
Real Estate	7.7%	4.6%
Technology	7.3%	4.6%
Consumer Cyclical	5.7%	5.3%
Energy	3.6%	2.9%
Communication Services	2.9%	-
Basic Materials	2.9%	10.2%

Return for Risk

FVD vs. KNG — Risk / Return Rank

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

FVD

FVD Risk / Return Rank: 34
FVD Sharpe Ratio Rank: 36
FVD Sortino Ratio Rank: 37
FVD Omega Ratio Rank: 31
FVD Calmar Ratio Rank: 35
FVD Martin Ratio Rank: 31

KNG

KNG Risk / Return Rank: 30
KNG Sharpe Ratio Rank: 32
KNG Sortino Ratio Rank: 33
KNG Omega Ratio Rank: 30
KNG Calmar Ratio Rank: 29
KNG Martin Ratio Rank: 27

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. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Value Line Dividend Index Fund (FVD) and FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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	KNG	Difference
Sharpe ratio: Return per unit of total volatility	1.04	0.97	+0.06
Sortino ratio: Return per unit of downside risk	1.59	1.50	+0.09
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.42	1.19	+0.23
Martin ratio: Return relative to average drawdown	3.61	2.99	+0.62

FVD vs. KNG - Sharpe Ratio Comparison

The current FVD Sharpe Ratio is 1.04, which is comparable to the KNG Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of FVD and KNG, 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. KNG - Drawdown Comparison

The maximum FVD drawdown since its inception was -51.00%, which is greater than KNG's maximum drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for FVD and KNG.

Drawdown Indicators

	FVD	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-51.00%	-35.12%	-15.88%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-8.61%	+1.38%
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	-14.24%	+2.27%
Max Drawdown (5Y) Largest decline over 5 years	-16.41%	-18.20%	+1.79%
Max Drawdown (10Y) Largest decline over 10 years	-35.25%	—	—
Current Drawdown Current decline from peak	-1.04%	-1.24%	+0.20%
Average Drawdown Average peak-to-trough decline	-5.43%	-4.11%	-1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	3.43%	-0.59%

Volatility

FVD vs. KNG - Volatility Comparison

First Trust Value Line Dividend Index Fund (FVD) has a higher volatility of 3.72% compared to FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) at 3.47%. This indicates that FVD's price experiences larger fluctuations and is considered to be riskier than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVD	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	3.47%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	7.91%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	9.90%	10.55%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.80%	13.60%	-0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.43%	17.13%	-1.70%

FVD vs. KNG - Expense Ratio Comparison

FVD has a 0.61% expense ratio, which is lower than KNG's 0.75% expense ratio.

Dividends

FVD vs. KNG - Dividend Comparison

FVD's dividend yield for the trailing twelve months is around 2.28%, less than KNG's 8.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVD First Trust Value Line Dividend Index Fund	2.28%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF	8.24%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FVD and KNG in my portfolio?

With a correlation of 0.93, FVD and KNG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FVD or KNG?

FVD has higher volatility (3.72%) compared to KNG (3.47%). In terms of maximum drawdown, FVD dropped -51.00% vs KNG's -35.12%.

Which ETF is better, FVD or KNG?

On 5-year performance, FVD leads with 6.42% vs 5.73% for KNG. On fees, FVD is cheaper at 0.61% per year. On volatility, KNG has been the lower-risk option at 3.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVD or KNG?

Over the 5-year period, FVD has performed better with a 6.42% return vs 5.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVD or KNG?

FVD is cheaper with a 0.61% expense ratio, compared with 0.75% for KNG.

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

KNG has the higher dividend yield at 8.24%, compared with 2.28% for FVD.

What is the main difference between FVD and KNG?

FVD is categorized as Mid Cap Value Equities, while KNG is Dividend. FVD tracks Value Line Dividend Index, while KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Their fees differ too: 0.61% for FVD and 0.75% for KNG.

Which has better risk-adjusted returns?

FVD currently has the higher Sharpe Ratio (1.04 vs 0.97), 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.