ISHP vs. FDL

Last updated Aug 2, 2026

ISHP (First Trust S-Network Global E-Commerce ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - ISHP is a Consumer Discretionary Equities fund tracking the S-Network Global E-Commerce Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 5 years, ISHP returned 2.04%/yr vs 13.98%/yr for FDL. Their 0.39 correlation means their historical movements had little consistent relationship. ISHP charges 0.60%/yr vs 0.43%/yr for FDL.

Performance

ISHP vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S-Network Global E-Commerce ETF (ISHP) 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, ISHP achieves a -8.73% return, which is significantly lower than FDL's 18.16% return.

ISHP

• 1D: -0.82%
• 1M: 4.54%
• 6M: -7.70%
• YTD: -8.73%
• 1Y: -8.31%
• 3Y*: 8.87%
• 5Y*: 2.04%
• 10Y*: —
• ALL TIME*: 7.29%

FDL

• 1D: 0.02%
• 1M: 3.27%
• 6M: 9.50%
• YTD: 18.16%
• 1Y: 27.65%
• 3Y*: 18.28%
• 5Y*: 13.98%
• 10Y*: 11.09%
• ALL TIME*: 8.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDL First Trust Morningstar Dividend Leaders Index Fund	$52.24M	$50.06M	$42.95M
ISHP First Trust S-Network Global E-Commerce ETF	$7.11K	$5.31K	$3.27K

ISHP vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISHP First Trust S-Network Global E-Commerce ETF	-8.73%	12.27%	24.17%	22.24%	-33.79%	30.09%	15.33%	19.74%	-2.04%	7.66%
FDL First Trust Morningstar Dividend Leaders Index Fund	18.16%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-5.99%	12.02%

Correlation

The correlation between ISHP and FDL is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.39
Correlation (All Time) Calculated using the full available price history since Oct 11, 2016	0.39

Over the past year, the correlation between ISHP and FDL has dropped to 0.16 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

ISHP vs. FDL - Sectors Allocation Comparison

Sectors	ISHP	FDL
Consumer Cyclical	25.8%	4.4%
Communication Services	15.2%	11.2%
Industrials	7.6%	3.6%
Technology	7.6%	4.3%
Real Estate	4.5%	-
Financial Services	3.0%	13.7%
Consumer Defensive	1.5%	24.3%
Healthcare	1.5%	11.7%
Basic Materials	-	0.4%
Energy	-	11.1%
Utilities	-	15.4%

Return for Risk

ISHP vs. FDL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ISHP

ISHP Risk / Return Rank: 5
ISHP Sharpe Ratio Rank: 5
ISHP Sortino Ratio Rank: 5
ISHP Omega Ratio Rank: 5
ISHP Calmar Ratio Rank: 6
ISHP Martin Ratio Rank: 6

FDL

FDL Risk / Return Rank: 92
FDL Sharpe Ratio Rank: 90
FDL Sortino Ratio Rank: 92
FDL Omega Ratio Rank: 88
FDL Calmar Ratio Rank: 96
FDL Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISHP vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S-Network Global E-Commerce ETF (ISHP) 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.

	ISHP	FDL	Difference
Sharpe ratio: Return per unit of total volatility	-0.53	2.26	-2.79
Sortino ratio: Return per unit of downside risk	-0.64	3.41	-4.05
Omega ratio: Gain probability vs. loss probability	0.93	1.39	-0.47
Calmar ratio: Return relative to maximum drawdown	-0.39	6.29	-6.68
Martin ratio: Return relative to average drawdown	-0.70	14.86	-15.56

ISHP vs. FDL - Sharpe Ratio Comparison

The current ISHP Sharpe Ratio is -0.53, which is lower than the FDL Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of ISHP and FDL, 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

ISHP vs. FDL - Drawdown Comparison

The maximum ISHP drawdown since its inception was -47.57%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for ISHP and FDL.

Drawdown Indicators

	ISHP	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-47.57%	-65.93%	+18.36%
Max Drawdown (1Y) Largest decline over 1 year	-24.75%	-4.27%	-20.48%
Max Drawdown (3Y) Largest decline over 3 years	-24.75%	-12.24%	-12.51%
Max Drawdown (5Y) Largest decline over 5 years	-47.57%	-16.46%	-31.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-16.15%	-1.96%	-14.19%
Average Drawdown Average peak-to-trough decline	-12.76%	-9.59%	-3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.89%	1.81%	+12.08%

Volatility

ISHP vs. FDL - Volatility Comparison

First Trust S-Network Global E-Commerce ETF (ISHP) has a higher volatility of 5.32% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.96%. This indicates that ISHP'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

	ISHP	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	4.96%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	14.80%	8.97%	+5.83%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	11.95%	+6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.32%	14.44%	+12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.03%	17.16%	+6.87%

ISHP vs. FDL - Expense Ratio Comparison

ISHP has a 0.60% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

ISHP vs. FDL - Dividend Comparison

ISHP's dividend yield for the trailing twelve months is around 1.14%, less than FDL's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.59%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
ISHP First Trust S-Network Global E-Commerce ETF	1.14%	1.34%	1.02%	1.58%	0.76%	0.53%	0.82%	1.16%	0.89%	1.65%	0.23%	0.00%

Frequently Asked Questions

Can I hold both ISHP and FDL in my portfolio?

ISHP and FDL have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISHP or FDL?

ISHP has higher volatility (5.32%) compared to FDL (4.96%). In terms of maximum drawdown, ISHP dropped -47.57% vs FDL's -65.93%.

Which ETF is better, ISHP or FDL?

On 5-year performance, FDL leads with 13.98% vs 2.04% for ISHP. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISHP or FDL?

Over the 5-year period, FDL has performed better with a 13.98% return vs 2.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISHP or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.60% for ISHP.

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

FDL has the higher dividend yield at 3.59%, compared with 1.14% for ISHP.

What is the main difference between ISHP and FDL?

ISHP is categorized as Consumer Discretionary Equities, while FDL is Large Cap Value Equities. ISHP tracks S-Network Global E-Commerce Index, while FDL tracks Morningstar Dividend Leaders Index. Their fees differ too: 0.60% for ISHP and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (2.26 vs -0.53), 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.