GMOV vs. FDL

Last updated Apr 1, 2026

Compare and contrast key facts about GMO U.S. Value ETF (GMOV) and First Trust Morningstar Dividend Leaders Index Fund (FDL).

GMOV and FDL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GMOV is a passively managed fund by GMO that tracks the performance of the MSCI USA Value (Gross). It was launched on Oct 28, 2024. FDL is a passively managed fund by First Trust that tracks the performance of the Morningstar Dividend Leaders Index. It was launched on Mar 9, 2006. Both GMOV and FDL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

GMOV vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GMO U.S. Value ETF (GMOV) and First Trust Morningstar Dividend Leaders Index Fund (FDL). The values are adjusted to include any dividend payments, if applicable.

GMOV vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GMOV GMO U.S. Value ETF	2.83%	14.81%	-1.27%
FDL First Trust Morningstar Dividend Leaders Index Fund	14.21%	14.79%	-1.22%

Returns By Period

In the year-to-date period, GMOV achieves a 2.83% return, which is significantly lower than FDL's 14.21% return.

GMOV

• 1D: 1.54%
• 1M: -3.22%
• YTD: 2.83%
• 6M: 7.19%
• 1Y: 17.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: -1.10%
• 1M: -1.21%
• YTD: 14.21%
• 6M: 16.89%
• 1Y: 21.28%
• 3Y*: 17.56%
• 5Y*: 13.87%
• 10Y*: 11.48%

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

GMOV vs. FDL - Expense Ratio Comparison

GMOV has a 0.50% expense ratio, which is higher than FDL's 0.45% expense ratio.

GMOV

GMO U.S. Value ETF

FDL

First Trust Morningstar Dividend Leaders Index Fund

Return for Risk

GMOV vs. FDL — Risk / Return Rank

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

GMOV

GMOV Risk / Return Rank: 59
GMOV Sharpe Ratio Rank: 58
GMOV Sortino Ratio Rank: 59
GMOV Omega Ratio Rank: 59
GMOV Calmar Ratio Rank: 56
GMOV Martin Ratio Rank: 63

FDL

FDL Risk / Return Rank: 72
FDL Sharpe Ratio Rank: 76
FDL Sortino Ratio Rank: 76
FDL Omega Ratio Rank: 73
FDL Calmar Ratio Rank: 67
FDL Martin Ratio Rank: 67

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.

GMOV vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GMO U.S. Value ETF (GMOV) 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.

	GMOV	FDL	Difference
Sharpe ratio Return per unit of total volatility	1.07	1.43	-0.37
Sortino ratio Return per unit of downside risk	1.58	2.00	-0.42
Omega ratio Gain probability vs. loss probability	1.22	1.28	-0.06
Calmar ratio Return relative to maximum drawdown	1.49	1.77	-0.28
Martin ratio Return relative to average drawdown	6.48	7.07	-0.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GMOV vs. FDL - Sharpe Ratio Comparison

The current GMOV Sharpe Ratio is 1.07, which is comparable to the FDL Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of GMOV and FDL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GMOV	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.43	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.97	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.46	+0.29

Correlation

The correlation between GMOV and FDL is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GMOV vs. FDL - Dividend Comparison

GMOV's dividend yield for the trailing twelve months is around 2.17%, less than FDL's 3.65% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GMOV GMO U.S. Value ETF	2.17%	1.98%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDL First Trust Morningstar Dividend Leaders Index Fund	3.65%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%

Drawdowns

GMOV vs. FDL - Drawdown Comparison

The maximum GMOV drawdown since its inception was -16.71%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for GMOV and FDL.

Drawdown Indicators

	GMOV	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-16.71%	-65.93%	+49.22%
Max Drawdown (1Y) Largest decline over 1 year	-12.18%	-11.58%	-0.60%
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	-4.32%	-1.21%	-3.11%
Average Drawdown Average peak-to-trough decline	-3.07%	-9.72%	+6.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	2.90%	-0.10%

Volatility

GMOV vs. FDL - Volatility Comparison

GMO U.S. Value ETF (GMOV) has a higher volatility of 3.34% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.71%. This indicates that GMOV'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

	GMOV	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	2.71%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	8.23%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	14.94%	+1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	14.32%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	17.09%	-1.58%