GAUD vs. FDL

Last updated Jul 18, 2026

GAUD (Guinness Atkinson US Dividend Builder ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - GAUD is a Dividend fund actively managed by Guinness Atkinson, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. GAUD is actively managed, while FDL is passively managed. At a 0.45 correlation, their price movements are largely independent. GAUD charges 0.35%/yr vs 0.43%/yr for FDL.

Performance

GAUD vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Guinness Atkinson US Dividend Builder ETF (GAUD) 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, GAUD achieves a -0.92% return, which is significantly lower than FDL's 17.31% return.

GAUD

• 1D: 0.00%
• 1M: -0.65%
• 6M: -3.58%
• YTD: -0.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: -0.25%
• 1M: 4.29%
• 6M: 13.11%
• YTD: 17.31%
• 1Y: 24.45%
• 3Y*: 19.32%
• 5Y*: 14.04%
• 10Y*: 10.99%

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

GAUD vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
GAUD Guinness Atkinson US Dividend Builder ETF	-0.92%	-1.12%
FDL First Trust Morningstar Dividend Leaders Index Fund	17.31%	0.66%

Correlation

The correlation between GAUD and FDL is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 22, 2025	0.45

Return for Risk

GAUD vs. FDL — Risk / Return Rank

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

GAUD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FDL

FDL Risk / Return Rank: 85
FDL Sharpe Ratio Rank: 81
FDL Sortino Ratio Rank: 87
FDL Omega Ratio Rank: 77
FDL Calmar Ratio Rank: 95
FDL Martin Ratio Rank: 84

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.

GAUD vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Guinness Atkinson US Dividend Builder ETF (GAUD) 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.

	GAUD	FDL	Difference
Sharpe ratio: Return per unit of total volatility	—	2.09	—
Sortino ratio: Return per unit of downside risk	—	3.20	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	5.75	—
Martin ratio: Return relative to average drawdown	—	13.11	—

Drawdowns

GAUD vs. FDL - Drawdown Comparison

The maximum GAUD drawdown since its inception was -9.17%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for GAUD and FDL.

Drawdown Indicators

	GAUD	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-9.17%	-65.93%	+56.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.24%	—
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	-4.30%	-0.25%	-4.05%
Average Drawdown Average peak-to-trough decline	-3.59%	-9.61%	+6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.87%	—

Volatility

Volatility by Period

	GAUD	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.61%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.30%	11.79%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.30%	14.41%	-3.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.30%	17.13%	-5.83%

GAUD vs. FDL - Expense Ratio Comparison

GAUD has a 0.35% expense ratio, which is lower than FDL's 0.43% expense ratio.

Dividends

GAUD vs. FDL - Dividend Comparison

GAUD has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.61%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
GAUD Guinness Atkinson US Dividend Builder ETF	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAUD and FDL in my portfolio?

GAUD and FDL have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAUD or FDL?

On fees, GAUD is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAUD or FDL?

GAUD is cheaper with a 0.35% expense ratio, compared with 0.43% for FDL.

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

FDL has the higher dividend yield at 3.61%, compared with 0.61% for GAUD.

What is the main difference between GAUD and FDL?

GAUD is categorized as Dividend, while FDL is Large Cap Value Equities. They also come from different issuers: Guinness Atkinson and First Trust. Their fees differ too: 0.35% for GAUD and 0.43% for FDL.