QMAR vs. FDL

Last updated Jun 24, 2026

QMAR (FT Cboe Vest Nasdaq-100 Buffer ETF - March) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QMAR is a Nasdaq-100 fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. QMAR is actively managed, while FDL is passively managed. Over the past 5 years, QMAR returned 11.30%/yr vs 13.08%/yr for FDL. At a 0.35 correlation, their price movements are largely independent. QMAR charges 0.90%/yr vs 0.43%/yr for FDL.

Performance

QMAR vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) 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, QMAR achieves a 11.40% return, which is significantly lower than FDL's 12.67% return.

QMAR

• 1D: -1.06%
• 1M: -0.77%
• YTD: 11.40%
• 6M: 11.38%
• 1Y: 20.76%
• 3Y*: 15.65%
• 5Y*: 11.30%
• 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)

QMAR vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	11.40%	10.89%	16.11%	35.47%	-16.56%	12.87%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	14.79%	17.98%	2.94%	6.66%	14.63%

Correlation

The correlation between QMAR and FDL is -0.05, 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 (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 22, 2021	0.35

The correlation between QMAR and FDL shifts across timeframes, from -0.05 (1 year) to 0.35 (5 years), reflecting how their relationship changes across market environments.

QMAR vs. FDL - Sectors Allocation Comparison

Sectors	QMAR	FDL
Technology	58.7%	1.4%
Communication Services	14.3%	10.6%
Consumer Cyclical	11.4%	4.7%
Consumer Defensive	6.4%	14.4%
Healthcare	3.7%	17.6%
Industrials	2.6%	3.9%
Utilities	1.2%	6.5%
Basic Materials	1.0%	0.3%
Energy	0.5%	25.7%
Financial Services	0.2%	15.2%
Real Estate	0.1%	-

Return for Risk

QMAR vs. FDL — Risk / Return Rank

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

QMAR

QMAR Risk / Return Rank: 95
QMAR Sharpe Ratio Rank: 93
QMAR Sortino Ratio Rank: 95
QMAR Omega Ratio Rank: 96
QMAR Calmar Ratio Rank: 94
QMAR Martin Ratio Rank: 97

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.

QMAR vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) 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.

	QMAR	FDL	Difference
Sharpe ratio: Return per unit of total volatility	3.19	1.95	+1.24
Sortino ratio: Return per unit of downside risk	4.77	2.96	+1.81
Omega ratio: Gain probability vs. loss probability	1.74	1.34	+0.40
Calmar ratio: Return relative to maximum drawdown	6.49	5.26	+1.23
Martin ratio: Return relative to average drawdown	39.78	12.40	+27.38

QMAR vs. FDL - Sharpe Ratio Comparison

The current QMAR Sharpe Ratio is 3.19, which is higher than the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QMAR 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

QMAR vs. FDL - Drawdown Comparison

The maximum QMAR drawdown since its inception was -19.83%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QMAR and FDL.

Drawdown Indicators

	QMAR	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-19.83%	-65.93%	+46.10%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-4.27%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-15.91%	-12.24%	-3.67%
Max Drawdown (5Y) Largest decline over 5 years	-19.83%	-16.46%	-3.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-1.65%	-3.09%	+1.44%
Average Drawdown Average peak-to-trough decline	-3.26%	-9.64%	+6.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	1.81%	-1.29%

Volatility

QMAR vs. FDL - Volatility Comparison

The current volatility for FT Cboe Vest Nasdaq-100 Buffer ETF - March (QMAR) is 2.92%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 3.72%. This indicates that QMAR 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

	QMAR	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.72%	-0.80%
Volatility (6M) Calculated over the trailing 6-month period	5.59%	8.09%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	11.54%	-4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.01%	14.31%	-0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.83%	17.11%	-3.28%

QMAR vs. FDL - Expense Ratio Comparison

QMAR has a 0.90% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

QMAR vs. FDL - Dividend Comparison

QMAR 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%
QMAR FT Cboe Vest Nasdaq-100 Buffer ETF - March	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 QMAR and FDL in my portfolio?

QMAR and FDL have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QMAR or FDL?

FDL has higher volatility (3.72%) compared to QMAR (2.92%). In terms of maximum drawdown, QMAR dropped -19.83% vs FDL's -65.93%.

Which ETF is better, QMAR or FDL?

On 5-year performance, FDL leads with 13.08% vs 11.30% for QMAR. On fees, FDL is cheaper at 0.43% per year. On volatility, QMAR has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QMAR or FDL?

Over the 5-year period, FDL has performed better with a 13.08% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QMAR or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.90% for QMAR.

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

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

What is the main difference between QMAR and FDL?

QMAR is categorized as Nasdaq-100, while FDL is Large Cap Value Equities. Their fees differ too: 0.90% for QMAR and 0.43% for FDL.

Which has better risk-adjusted returns?

QMAR currently has the higher Sharpe Ratio (3.19 vs 1.95), 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.