NVIT vs. FDL

Last updated Jun 4, 2026

NVIT (YieldMax NVDA Performance & Distribution Target 25 ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - NVIT is a Derivative Income fund actively managed by YieldMax, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. NVIT is actively managed, while FDL is passively managed. At a correlation of -0.28, they often move in opposite directions. NVIT charges 1.08%/yr vs 0.45%/yr for FDL.

Performance

NVIT vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax NVDA Performance & Distribution Target 25 ETF (NVIT) 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, NVIT achieves a 15.44% return, which is significantly higher than FDL's 13.33% return.

NVIT

• 1D: -2.67%
• 1M: 6.72%
• YTD: 15.44%
• 6M: 19.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: -0.26%
• 1M: -0.26%
• YTD: 13.33%
• 6M: 14.76%
• 1Y: 23.67%
• 3Y*: 18.97%
• 5Y*: 12.51%
• 10Y*: 11.24%

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

NVIT vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
NVIT YieldMax NVDA Performance & Distribution Target 25 ETF	15.44%	3.48%
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	3.03%

Correlation

The correlation between NVIT and FDL is -0.28, 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 Nov 19, 2025	-0.28

Return for Risk

NVIT 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: 70
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 70
FDL Omega Ratio Rank: 59
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 71

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.

NVIT vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax NVDA Performance & Distribution Target 25 ETF (NVIT) 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

	NVIT	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.11	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.88	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.45	+0.92

Drawdowns

NVIT vs. FDL - Drawdown Comparison

The maximum NVIT drawdown since its inception was -11.11%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for NVIT and FDL.

Drawdown Indicators

	NVIT	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-11.11%	-65.93%	+54.82%
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	-6.77%	-2.18%	-4.59%
Average Drawdown Average peak-to-trough decline	-2.86%	-9.66%	+6.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.75%	—

Volatility

Volatility by Period

	NVIT	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.08%	11.28%	+17.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.08%	14.31%	+14.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.08%	17.11%	+11.97%

NVIT vs. FDL - Expense Ratio Comparison

NVIT has a 1.08% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

NVIT vs. FDL - Dividend Comparison

NVIT's dividend yield for the trailing twelve months is around 12.36%, more than FDL's 3.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.68%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
NVIT YieldMax NVDA Performance & Distribution Target 25 ETF	12.36%	2.37%	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 NVIT and FDL in my portfolio?

NVIT and FDL have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NVIT 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, NVIT or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 1.08% for NVIT.

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

NVIT has the higher dividend yield at 12.36%, compared with 3.68% for FDL.

What is the main difference between NVIT and FDL?

NVIT is categorized as Derivative Income, while FDL is Large Cap Value Equities. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 1.08% for NVIT and 0.45% for FDL.