MSFW vs. FDL

Last updated Jun 5, 2026

MSFW (Roundhill MSFT WeeklyPay™ ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - MSFW is a Derivative Income fund actively managed by Roundhill, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. MSFW is actively managed, while FDL is passively managed. At a correlation of -0.14, they often move in opposite directions. MSFW charges 0.99%/yr vs 0.45%/yr for FDL.

Performance

MSFW vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill MSFT WeeklyPay™ ETF (MSFW) 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, MSFW achieves a -14.53% return, which is significantly lower than FDL's 14.21% return.

MSFW

• 1D: 0.23%
• 1M: 4.75%
• YTD: -14.53%
• 6M: -14.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 0.78%
• 1M: 0.32%
• YTD: 14.21%
• 6M: 15.52%
• 1Y: 25.50%
• 3Y*: 19.57%
• 5Y*: 12.69%
• 10Y*: 11.28%

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

MSFW vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
MSFW Roundhill MSFT WeeklyPay™ ETF	-14.53%	-7.81%
FDL First Trust Morningstar Dividend Leaders Index Fund	14.21%	4.30%

Correlation

The correlation between MSFW and FDL is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	-0.14

MSFW vs. FDL - Sectors Allocation Comparison

Sectors	MSFW	FDL
Technology	31.6%	1.1%
Basic Materials	-	0.3%
Communication Services	-	10.6%
Consumer Cyclical	-	3.8%
Consumer Defensive	-	14.7%
Energy	-	27.3%
Financial Services	-	15.1%
Healthcare	-	16.8%
Industrials	-	3.8%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

MSFW vs. FDL — Risk / Return Rank

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

FDL

FDL Risk / Return Rank: 77
FDL Sharpe Ratio Rank: 70
FDL Sortino Ratio Rank: 79
FDL Omega Ratio Rank: 67
FDL Calmar Ratio Rank: 92
FDL Martin Ratio Rank: 77

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.

MSFW vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill MSFT WeeklyPay™ ETF (MSFW) 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.

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

Sharpe Ratios by Period

	MSFW	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.27	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.89	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.75	0.45	-1.20

Drawdowns

MSFW vs. FDL - Drawdown Comparison

The maximum MSFW drawdown since its inception was -40.42%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for MSFW and FDL.

Drawdown Indicators

	MSFW	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-65.93%	+25.51%
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	-26.10%	-1.41%	-24.69%
Average Drawdown Average peak-to-trough decline	-17.49%	-9.66%	-7.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	MSFW	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.32%	11.30%	+21.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.32%	14.31%	+18.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.32%	17.11%	+15.21%

MSFW vs. FDL - Expense Ratio Comparison

MSFW has a 0.99% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

MSFW vs. FDL - Dividend Comparison

MSFW's dividend yield for the trailing twelve months is around 39.22%, more than FDL's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MSFW Roundhill MSFT WeeklyPay™ ETF	39.22%	20.25%	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 MSFW and FDL in my portfolio?

MSFW and FDL have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSFW or FDL?

On fees, FDL is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSFW or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.99% for MSFW.

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

MSFW has the higher dividend yield at 39.22%, compared with 3.65% for FDL.

What is the main difference between MSFW and FDL?

MSFW is categorized as Derivative Income, while FDL is Large Cap Value Equities. They also come from different issuers: Roundhill and First Trust. Their fees differ too: 0.99% for MSFW and 0.45% for FDL.