QNDX vs. FDL
QNDX (SPDR Portfolio Nasdaq 100 ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QNDX is a Nasdaq-100 fund tracking the Nasdaq-100 Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Their -0.49 correlation means they have often moved in opposite directions in the past. QNDX charges 0.10%/yr vs 0.43%/yr for FDL.
Performance
QNDX vs. FDL - Performance Comparison
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Returns By Period
QNDX
- 1D
- -0.86%
- 1M
- -0.69%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
FDL
- 1D
- -0.54%
- 1M
- 4.47%
- 6M
- 5.75%
- YTD
- 18.60%
- 1Y
- 26.71%
- 3Y*
- 19.02%
- 5Y*
- 13.96%
- 10Y*
- 11.08%
- ALL TIME*
- 8.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $48.97M | $49.30M | $42.41M | |
| $14.09M | $14.07M | $12.53M |
QNDX vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
QNDX SPDR Portfolio Nasdaq 100 ETF | 0.41% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 5.27% |
Correlation
The correlation between QNDX and FDL is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 24, 2026 | -0.49 |
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Return for Risk
QNDX vs. FDL — Risk / Return Rank
QNDX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FDL
QNDX vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Nasdaq 100 ETF (QNDX) 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.
| QNDX | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.28 | — |
| Martin ratioReturn relative to average drawdown | — | 14.78 | — |
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Drawdowns
QNDX vs. FDL - Drawdown Comparison
The maximum QNDX drawdown since its inception was -10.10%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QNDX and FDL.
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Drawdown Indicators
| QNDX | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.10% | -65.93% | +55.83% |
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 | -2.57% | -1.60% | -0.97% |
Average DrawdownAverage peak-to-trough decline | -3.71% | -9.59% | +5.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.81% | — |
Volatility
QNDX vs. FDL - Volatility Comparison
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Volatility by Period
| QNDX | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.48% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.63% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.98% | 11.88% | +13.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.98% | 14.43% | +10.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.98% | 17.16% | +7.82% |
QNDX vs. FDL - Expense Ratio Comparison
QNDX has a 0.10% expense ratio, which is lower than FDL's 0.43% expense ratio.
Dividends
QNDX vs. FDL - Dividend Comparison
QNDX has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDL First Trust Morningstar Dividend Leaders Index Fund | 3.58% | 4.04% | 4.96% | 4.58% | 3.58% | 4.59% | 4.48% | 3.75% | 3.97% | 3.18% | 2.93% | 3.65% |
QNDX SPDR Portfolio Nasdaq 100 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
QNDX and FDL have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, QNDX is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
QNDX is cheaper with a 0.10% expense ratio, compared with 0.43% for FDL.
FDL has the higher dividend yield at 3.58%, compared with 0.00% for QNDX.
QNDX is categorized as Nasdaq-100, while FDL is Large Cap Value Equities. QNDX tracks Nasdaq-100 Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.10% for QNDX and 0.43% for FDL.
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