OKLL vs. FDL
OKLL (Defiance Daily Target 2x Long OKLO ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - OKLL is a Leveraged Equities fund actively managed by Defiance, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. OKLL is actively managed, while FDL is passively managed. At a correlation of -0.06, they often move in opposite directions. OKLL charges 1.31%/yr vs 0.43%/yr for FDL.
Performance
OKLL vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, OKLL achieves a -62.97% return, which is significantly lower than FDL's 11.33% return.
OKLL
- 1D
- -9.34%
- 1M
- -27.62%
- YTD
- -62.97%
- 6M
- -72.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FDL
- 1D
- -0.16%
- 1M
- -3.91%
- YTD
- 11.33%
- 6M
- 11.38%
- 1Y
- 21.02%
- 3Y*
- 18.63%
- 5Y*
- 12.95%
- 10Y*
- 10.99%
OKLL vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OKLL Defiance Daily Target 2x Long OKLO ETF | -62.97% | -25.10% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 11.33% | 8.63% |
Correlation
The correlation between OKLL and FDL is -0.06, 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 (All Time) Calculated using the full available price history since Jun 24, 2025 | -0.06 |
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Return for Risk
OKLL vs. FDL — Risk / Return Rank
OKLL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FDL
OKLL vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2x Long OKLO ETF (OKLL) 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.
| OKLL | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.32 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.94 | — |
| Martin ratioReturn relative to average drawdown | — | 11.71 | — |
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Drawdowns
OKLL vs. FDL - Drawdown Comparison
The maximum OKLL drawdown since its inception was -96.29%, which is greater than FDL's maximum drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for OKLL and FDL.
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Drawdown Indicators
| OKLL | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.29% | -65.93% | -30.36% |
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 DrawdownCurrent decline from peak | -95.52% | -4.24% | -91.28% |
Average DrawdownAverage peak-to-trough decline | -62.27% | -9.64% | -52.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.80% | — |
Volatility
OKLL vs. FDL - Volatility Comparison
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Volatility by Period
| OKLL | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.03% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 203.14% | 11.51% | +191.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 203.14% | 14.30% | +188.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 203.14% | 17.13% | +186.01% |
OKLL vs. FDL - Expense Ratio Comparison
OKLL has a 1.31% expense ratio, which is higher than FDL's 0.43% expense ratio.
Dividends
OKLL vs. FDL - Dividend Comparison
OKLL has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.74%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.74% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
OKLL Defiance Daily Target 2x Long OKLO ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OKLL and FDL have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FDL is cheaper at 0.43% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FDL is cheaper with a 0.43% expense ratio, compared with 1.31% for OKLL.
FDL has the higher dividend yield at 3.74%, compared with 0.00% for OKLL.
OKLL is categorized as Leveraged Equities, while FDL is Large Cap Value Equities. They also come from different issuers: Defiance and First Trust. Their fees differ too: 1.31% for OKLL and 0.43% for FDL.
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