METW vs. FDL

Last updated Jun 24, 2026

METW (Roundhill Meta Weeklypay ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - METW is a Technology Equities fund tracking the Ball Metaverse Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past year, METW returned -26.35% vs 22.39% for FDL. At a correlation of -0.10, they often move in opposite directions. METW charges 0.59%/yr vs 0.43%/yr for FDL.

Performance

METW vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Meta Weeklypay ETF (METW) 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, METW achieves a -19.43% return, which is significantly lower than FDL's 12.67% return.

METW

• 1D: -0.28%
• 1M: -9.52%
• YTD: -19.43%
• 6M: -20.16%
• 1Y: -26.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 1.20%
• 1M: -2.75%
• YTD: 12.67%
• 6M: 13.02%
• 1Y: 22.39%
• 3Y*: 19.10%
• 5Y*: 13.08%
• 10Y*: 11.12%

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

METW vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
METW Roundhill Meta Weeklypay ETF	-19.43%	-9.14%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	9.15%

Correlation

The correlation between METW and FDL is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	-0.10

METW vs. FDL - Sectors Allocation Comparison

Sectors	METW	FDL
Communication Services	26.8%	10.6%
Basic Materials	-	0.3%
Consumer Cyclical	-	4.7%
Consumer Defensive	-	14.4%
Energy	-	25.7%
Financial Services	-	15.2%
Healthcare	-	17.6%
Industrials	-	3.9%
Real Estate	-	-
Technology	-	1.4%
Utilities	-	6.5%

Return for Risk

METW vs. FDL — Risk / Return Rank

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

METW

METW Risk / Return Rank: 4
METW Sharpe Ratio Rank: 4
METW Sortino Ratio Rank: 4
METW Omega Ratio Rank: 4
METW Calmar Ratio Rank: 4
METW Martin Ratio Rank: 3

FDL

FDL Risk / Return Rank: 69
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 68
FDL Omega Ratio Rank: 57
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 69

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.

METW vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Meta Weeklypay ETF (METW) 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.

	METW	FDL	Difference
Sharpe ratio: Return per unit of total volatility	-0.61	1.95	-2.56
Sortino ratio: Return per unit of downside risk	-0.69	2.96	-3.65
Omega ratio: Gain probability vs. loss probability	0.91	1.34	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.65	5.26	-5.92
Martin ratio: Return relative to average drawdown	-1.25	12.40	-13.65

METW vs. FDL - Sharpe Ratio Comparison

The current METW Sharpe Ratio is -0.61, which is lower than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of METW 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

METW vs. FDL - Drawdown Comparison

The maximum METW drawdown since its inception was -40.52%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for METW and FDL.

Drawdown Indicators

	METW	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-40.52%	-65.93%	+25.41%
Max Drawdown (1Y) Largest decline over 1 year	-40.52%	-4.27%	-36.25%
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	-36.08%	-3.09%	-32.99%
Average Drawdown Average peak-to-trough decline	-18.08%	-9.64%	-8.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.11%	1.81%	+19.30%

Volatility

METW vs. FDL - Volatility Comparison

Roundhill Meta Weeklypay ETF (METW) has a higher volatility of 15.67% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.72%. This indicates that METW'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

	METW	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.67%	3.72%	+11.95%
Volatility (6M) Calculated over the trailing 6-month period	33.51%	8.09%	+25.42%
Volatility (1Y) Calculated over the trailing 1-year period	43.19%	11.54%	+31.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.09%	14.31%	+28.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.09%	17.11%	+25.98%

METW vs. FDL - Expense Ratio Comparison

METW has a 0.59% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

METW vs. FDL - Dividend Comparison

METW's dividend yield for the trailing twelve months is around 66.02%, more than FDL's 3.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.70%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
METW Roundhill Meta Weeklypay ETF	66.02%	30.89%	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 METW and FDL in my portfolio?

METW and FDL have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, METW or FDL?

METW has higher volatility (15.67%) compared to FDL (3.72%). In terms of maximum drawdown, METW dropped -40.52% vs FDL's -65.93%.

Which ETF is better, METW or FDL?

On 1-year performance, FDL leads with 22.39% vs -26.35% for METW. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METW or FDL?

Over the 1-year period, FDL has performed better with a 22.39% return vs -26.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METW or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.59% for METW.

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

METW has the higher dividend yield at 66.02%, compared with 3.70% for FDL.

What is the main difference between METW and FDL?

METW is categorized as Technology Equities, while FDL is Large Cap Value Equities. METW tracks Ball Metaverse Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: Roundhill and First Trust. Their fees differ too: 0.59% for METW and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs -0.61), 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.