QTEC vs. FDL

Last updated Jun 4, 2026

QTEC (First Trust NASDAQ-100 Technology Sector Index Fund) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QTEC is a Nasdaq-100 fund tracking the NASDAQ-100 Technology Sector Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 10 years, QTEC returned 23.00%/yr vs 11.24%/yr for FDL. A 0.51 correlation means they provide meaningful diversification when combined. QTEC charges 0.57%/yr vs 0.45%/yr for FDL.

Performance

QTEC vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) 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, QTEC achieves a 44.73% return, which is significantly higher than FDL's 13.33% return. Over the past 10 years, QTEC has outperformed FDL with an annualized return of 23.00%, while FDL has yielded a comparatively lower 11.24% annualized return.

QTEC

• 1D: 0.07%
• 1M: 22.39%
• YTD: 44.73%
• 6M: 40.31%
• 1Y: 67.84%
• 3Y*: 32.86%
• 5Y*: 17.61%
• 10Y*: 23.00%

FDL

• 1D: -0.26%
• 1M: -0.26%
• YTD: 13.33%
• 6M: 14.76%
• 1Y: 23.67%
• 3Y*: 18.97%
• 5Y*: 12.51%
• 10Y*: 11.24%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QTEC vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	44.73%	22.28%	7.32%	67.02%	-39.83%	26.89%	38.76%	48.22%	-4.62%	37.78%
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	14.79%	17.98%	2.94%	6.66%	26.10%	-4.30%	24.41%	-5.99%	12.02%

Correlation

The correlation between QTEC and FDL is 0.01, 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	0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 3, 2006	0.51

Over the past year, the correlation between QTEC and FDL has dropped to 0.01 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

QTEC vs. FDL - Sectors Allocation Comparison

Sectors	QTEC	FDL
Technology	87.9%	1.1%
Communication Services	6.2%	10.6%
Consumer Cyclical	4.0%	3.8%
Industrials	1.9%	3.8%
Basic Materials	-	0.3%
Consumer Defensive	-	14.7%
Energy	-	27.3%
Financial Services	-	15.1%
Healthcare	-	16.8%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

QTEC vs. FDL — Risk / Return Rank

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

QTEC

QTEC Risk / Return Rank: 80
QTEC Sharpe Ratio Rank: 88
QTEC Sortino Ratio Rank: 80
QTEC Omega Ratio Rank: 78
QTEC Calmar Ratio Rank: 81
QTEC Martin Ratio Rank: 72

FDL

FDL Risk / Return Rank: 70
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 70
FDL Omega Ratio Rank: 59
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 71

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.

QTEC vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) 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.

	QTEC	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.11	+0.86
Sortino ratio: Return per unit of downside risk	3.67	3.25	+0.42
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.10
Calmar ratio: Return relative to maximum drawdown	4.25	5.56	-1.31
Martin ratio: Return relative to average drawdown	13.77	13.56	+0.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTEC vs. FDL - Sharpe Ratio Comparison

The current QTEC Sharpe Ratio is 2.97, which is higher than the FDL Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of QTEC 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.

Sharpe Ratios by Period

	QTEC	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	2.11	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.88	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.66	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.45	+0.15

Drawdowns

QTEC vs. FDL - Drawdown Comparison

The maximum QTEC drawdown since its inception was -58.86%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QTEC and FDL.

Drawdown Indicators

	QTEC	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-58.86%	-65.93%	+7.07%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-4.27%	-11.76%
Max Drawdown (3Y) Largest decline over 3 years	-29.00%	-12.24%	-16.76%
Max Drawdown (5Y) Largest decline over 5 years	-45.54%	-16.46%	-29.08%
Max Drawdown (10Y) Largest decline over 10 years	-45.54%	-41.40%	-4.14%
Current Drawdown Current decline from peak	0.00%	-2.18%	+2.18%
Average Drawdown Average peak-to-trough decline	-9.89%	-9.66%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.94%	1.75%	+3.19%

Volatility

QTEC vs. FDL - Volatility Comparison

First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) has a higher volatility of 7.34% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.85%. This indicates that QTEC'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

	QTEC	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.34%	2.85%	+4.49%
Volatility (6M) Calculated over the trailing 6-month period	18.26%	7.87%	+10.39%
Volatility (1Y) Calculated over the trailing 1-year period	22.98%	11.28%	+11.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.19%	14.31%	+14.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.51%	17.11%	+10.40%

QTEC vs. FDL - Expense Ratio Comparison

QTEC has a 0.57% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

QTEC vs. FDL - Dividend Comparison

QTEC has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.68%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
QTEC First Trust NASDAQ-100 Technology Sector Index Fund	0.00%	0.00%	0.02%	0.14%	0.15%	0.02%	0.44%	0.68%	0.91%	0.80%	1.29%	0.99%

Frequently Asked Questions

Can I hold both QTEC and FDL in my portfolio?

QTEC and FDL have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTEC or FDL?

QTEC has higher volatility (7.34%) compared to FDL (2.85%). In terms of maximum drawdown, QTEC dropped -58.86% vs FDL's -65.93%.

Which ETF is better, QTEC or FDL?

On 10-year performance, QTEC leads with 23.00% vs 11.24% for FDL. On fees, FDL is cheaper at 0.45% per year. On volatility, FDL has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTEC or FDL?

Over the 10-year period, QTEC has performed better with a 23.00% return vs 11.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTEC or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.57% for QTEC.

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

FDL has the higher dividend yield at 3.68%, compared with 0.00% for QTEC.

What is the main difference between QTEC and FDL?

QTEC is categorized as Nasdaq-100, while FDL is Large Cap Value Equities. QTEC tracks NASDAQ-100 Technology Sector Index, while FDL tracks Morningstar Dividend Leaders Index. Their fees differ too: 0.57% for QTEC and 0.45% for FDL.

Which has better risk-adjusted returns?

QTEC currently has the higher Sharpe Ratio (2.97 vs 2.11), 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.