QBIG vs. FDL

Last updated Jun 24, 2026

QBIG (Invesco Top QQQ ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QBIG is a Large Cap Blend Equities fund actively managed by Invesco, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. QBIG is actively managed, while FDL is passively managed. Over the past year, QBIG returned 22.99% vs 22.39% for FDL. At a correlation of -0.03, they often move in opposite directions. QBIG charges 0.29%/yr vs 0.43%/yr for FDL.

Performance

QBIG vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Top QQQ ETF (QBIG) 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, QBIG achieves a -0.09% return, which is significantly lower than FDL's 12.67% return.

QBIG

• 1D: -1.88%
• 1M: -8.50%
• YTD: -0.09%
• 6M: -1.48%
• 1Y: 22.99%
• 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)

QBIG vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBIG Invesco Top QQQ ETF	-0.09%	21.46%	3.04%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	14.79%	-5.04%

Correlation

The correlation between QBIG and FDL is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	-0.03

The correlation between QBIG and FDL shifts across timeframes, from -0.19 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

QBIG vs. FDL - Sectors Allocation Comparison

Sectors	QBIG	FDL
Technology	22.9%	1.4%
Financial Services	10.5%	15.2%
Consumer Cyclical	7.4%	4.7%
Communication Services	6.7%	10.6%
Basic Materials	-	0.3%
Consumer Defensive	-	14.4%
Energy	-	25.7%
Healthcare	-	17.6%
Industrials	-	3.9%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

QBIG vs. FDL — Risk / Return Rank

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

QBIG

QBIG Risk / Return Rank: 29
QBIG Sharpe Ratio Rank: 33
QBIG Sortino Ratio Rank: 31
QBIG Omega Ratio Rank: 30
QBIG Calmar Ratio Rank: 25
QBIG Martin Ratio Rank: 27

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.

QBIG vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Top QQQ ETF (QBIG) 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.

	QBIG	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.95	-0.82
Sortino ratio: Return per unit of downside risk	1.60	2.96	-1.37
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	1.17	5.26	-4.09
Martin ratio: Return relative to average drawdown	3.51	12.40	-8.89

QBIG vs. FDL - Sharpe Ratio Comparison

The current QBIG Sharpe Ratio is 1.13, which is lower than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QBIG 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

QBIG vs. FDL - Drawdown Comparison

The maximum QBIG drawdown since its inception was -30.33%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QBIG and FDL.

Drawdown Indicators

	QBIG	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-30.33%	-65.93%	+35.60%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	-4.27%	-15.43%
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	-11.23%	-3.09%	-8.14%
Average Drawdown Average peak-to-trough decline	-7.04%	-9.64%	+2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.56%	1.81%	+4.75%

Volatility

QBIG vs. FDL - Volatility Comparison

Invesco Top QQQ ETF (QBIG) has a higher volatility of 7.26% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.72%. This indicates that QBIG'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

	QBIG	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	3.72%	+3.54%
Volatility (6M) Calculated over the trailing 6-month period	15.64%	8.09%	+7.55%
Volatility (1Y) Calculated over the trailing 1-year period	20.43%	11.54%	+8.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.41%	14.31%	+13.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.41%	17.11%	+10.30%

QBIG vs. FDL - Expense Ratio Comparison

QBIG has a 0.29% expense ratio, which is lower than FDL's 0.43% expense ratio.

Dividends

QBIG vs. FDL - Dividend Comparison

QBIG has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.70%.

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%
QBIG Invesco Top QQQ 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

Can I hold both QBIG and FDL in my portfolio?

QBIG and FDL have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBIG or FDL?

QBIG has higher volatility (7.26%) compared to FDL (3.72%). In terms of maximum drawdown, QBIG dropped -30.33% vs FDL's -65.93%.

Which ETF is better, QBIG or FDL?

On 1-year performance, QBIG leads with 22.99% vs 22.39% for FDL. On fees, QBIG is cheaper at 0.29% 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, QBIG or FDL?

Over the 1-year period, QBIG has performed better with a 22.99% return vs 22.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBIG or FDL?

QBIG is cheaper with a 0.29% expense ratio, compared with 0.43% for FDL.

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

FDL has the higher dividend yield at 3.70%, compared with 0.00% for QBIG.

What is the main difference between QBIG and FDL?

QBIG is categorized as Large Cap Blend Equities, while FDL is Large Cap Value Equities. They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.29% for QBIG and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs 1.13), 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.