QDIV vs. FDL

Last updated Jun 24, 2026

QDIV (Global X S&P 500 Quality Dividend ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QDIV is a Dividend fund tracking the S&P 500 Quality High Dividend Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 5 years, QDIV returned 6.89%/yr vs 13.08%/yr for FDL. Their correlation of 0.86 suggests significant overlap in exposure. QDIV charges 0.20%/yr vs 0.43%/yr for FDL.

Performance

QDIV vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Quality Dividend ETF (QDIV) 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, QDIV achieves a 7.99% return, which is significantly lower than FDL's 12.67% return.

QDIV

• 1D: 0.71%
• 1M: -0.97%
• YTD: 7.99%
• 6M: 7.73%
• 1Y: 13.66%
• 3Y*: 9.64%
• 5Y*: 6.89%
• 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)

QDIV vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QDIV Global X S&P 500 Quality Dividend ETF	7.99%	3.16%	10.62%	5.18%	-0.50%	28.99%	0.03%	29.00%	-12.20%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-4.02%

Correlation

The correlation between QDIV and FDL is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 17, 2018	0.86

The correlation between QDIV and FDL has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

QDIV vs. FDL - Sectors Allocation Comparison

Sectors	QDIV	FDL
Consumer Defensive	22.0%	14.4%
Industrials	16.3%	3.9%
Healthcare	14.4%	17.6%
Energy	11.5%	25.7%
Technology	10.0%	1.4%
Basic Materials	8.6%	0.3%
Financial Services	7.0%	15.2%
Consumer Cyclical	6.7%	4.7%
Communication Services	3.5%	10.6%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

QDIV vs. FDL — Risk / Return Rank

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

QDIV

QDIV Risk / Return Rank: 33
QDIV Sharpe Ratio Rank: 33
QDIV Sortino Ratio Rank: 35
QDIV Omega Ratio Rank: 31
QDIV Calmar Ratio Rank: 36
QDIV Martin Ratio Rank: 31

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.

QDIV vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Quality Dividend ETF (QDIV) 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.

	QDIV	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.14	1.95	-0.81
Sortino ratio: Return per unit of downside risk	1.77	2.96	-1.19
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	1.72	5.26	-3.54
Martin ratio: Return relative to average drawdown	4.31	12.40	-8.08

QDIV vs. FDL - Sharpe Ratio Comparison

The current QDIV Sharpe Ratio is 1.14, which is lower than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QDIV 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

QDIV vs. FDL - Drawdown Comparison

The maximum QDIV drawdown since its inception was -41.20%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QDIV and FDL.

Drawdown Indicators

	QDIV	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-41.20%	-65.93%	+24.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.97%	-4.27%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-16.81%	-12.24%	-4.57%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-16.46%	-2.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-4.15%	-3.09%	-1.06%
Average Drawdown Average peak-to-trough decline	-5.53%	-9.64%	+4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	1.81%	+1.36%

Volatility

QDIV vs. FDL - Volatility Comparison

The current volatility for Global X S&P 500 Quality Dividend ETF (QDIV) is 3.42%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 3.72%. This indicates that QDIV experiences smaller price fluctuations and is considered to be less risky than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDIV	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.42%	3.72%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	8.08%	8.09%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	11.54%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	14.31%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	17.11%	+2.27%

QDIV vs. FDL - Expense Ratio Comparison

QDIV has a 0.20% expense ratio, which is lower than FDL's 0.43% expense ratio.

Dividends

QDIV vs. FDL - Dividend Comparison

QDIV's dividend yield for the trailing twelve months is around 3.00%, less 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%
QDIV Global X S&P 500 Quality Dividend ETF	3.00%	3.13%	2.88%	3.26%	3.02%	2.44%	3.06%	2.84%	1.30%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QDIV and FDL in my portfolio?

QDIV and FDL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QDIV or FDL?

FDL has higher volatility (3.72%) compared to QDIV (3.42%). In terms of maximum drawdown, QDIV dropped -41.20% vs FDL's -65.93%.

Which ETF is better, QDIV or FDL?

On 5-year performance, FDL leads with 13.08% vs 6.89% for QDIV. On fees, QDIV is cheaper at 0.20% per year. On volatility, QDIV has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QDIV or FDL?

Over the 5-year period, FDL has performed better with a 13.08% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QDIV or FDL?

QDIV is cheaper with a 0.20% expense ratio, compared with 0.43% for FDL.

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

FDL has the higher dividend yield at 3.70%, compared with 3.00% for QDIV.

What is the main difference between QDIV and FDL?

QDIV is categorized as Dividend, while FDL is Large Cap Value Equities. QDIV tracks S&P 500 Quality High Dividend Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.20% for QDIV and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs 1.14), 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.