MSFY vs. FDL
MSFY (Kurv Yield Premium Strategy Microsoft ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - MSFY is a Derivative Income fund actively managed by Kurv, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. MSFY is actively managed, while FDL is passively managed. Over the past year, MSFY returned -23.06% vs 22.39% for FDL. At a 0.02 correlation, their price movements are largely independent. MSFY charges 1.00%/yr vs 0.43%/yr for FDL.
Performance
MSFY vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, MSFY achieves a -25.63% return, which is significantly lower than FDL's 12.67% return.
MSFY
- 1D
- 2.04%
- 1M
- -11.80%
- YTD
- -25.63%
- 6M
- -25.98%
- 1Y
- -23.06%
- 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%
MSFY vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MSFY Kurv Yield Premium Strategy Microsoft ETF | -25.63% | 14.11% | 10.88% | 2.57% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 12.67% | 14.79% | 17.98% | 8.79% |
Correlation
The correlation between MSFY 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 (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023 | 0.02 |
The correlation between MSFY and FDL shifts across timeframes, from -0.14 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MSFY vs. FDL — Risk / Return Rank
MSFY
FDL
MSFY vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Microsoft ETF (MSFY) 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.
| MSFY | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.79 | ||
| Sortino ratioReturn per unit of downside risk | -4.00 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.34 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.68 | 5.26 | -5.94 |
| Martin ratioReturn relative to average drawdown | -1.39 | 12.40 | -13.79 |
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Drawdowns
MSFY vs. FDL - Drawdown Comparison
The maximum MSFY drawdown since its inception was -34.21%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for MSFY and FDL.
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Drawdown Indicators
| MSFY | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.21% | -65.93% | +31.72% |
Max Drawdown (1Y)Largest decline over 1 year | -34.21% | -4.27% | -29.94% |
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 DrawdownCurrent decline from peak | -31.29% | -3.09% | -28.20% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -9.64% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.62% | 1.81% | +14.81% |
Volatility
MSFY vs. FDL - Volatility Comparison
Kurv Yield Premium Strategy Microsoft ETF (MSFY) has a higher volatility of 12.22% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.72%. This indicates that MSFY'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.
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Volatility by Period
| MSFY | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.22% | 3.72% | +8.50% |
Volatility (6M)Calculated over the trailing 6-month period | 25.76% | 8.09% | +17.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.53% | 11.54% | +15.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 14.31% | +8.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 17.11% | +5.43% |
MSFY vs. FDL - Expense Ratio Comparison
MSFY has a 1.00% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
MSFY vs. FDL - Dividend Comparison
MSFY's dividend yield for the trailing twelve months is around 28.13%, 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% |
MSFY Kurv Yield Premium Strategy Microsoft ETF | 28.13% | 18.56% | 14.35% | 1.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSFY 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.
MSFY has higher volatility (12.22%) compared to FDL (3.72%). In terms of maximum drawdown, MSFY dropped -34.21% vs FDL's -65.93%.
On 1-year performance, FDL leads with 22.39% vs -23.06% for MSFY. 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.
Over the 1-year period, FDL has performed better with a 22.39% return vs -23.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.43% expense ratio, compared with 1.00% for MSFY.
MSFY has the higher dividend yield at 28.13%, compared with 3.70% for FDL.
MSFY is categorized as Derivative Income, while FDL is Large Cap Value Equities. They also come from different issuers: Kurv and First Trust. Their fees differ too: 1.00% for MSFY and 0.43% for FDL.
FDL currently has the higher Sharpe Ratio (1.95 vs -0.84), 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.
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