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QTOP vs. FDL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QTOP vs. FDL

Last updated Jun 24, 2026

QTOP (iShares Nasdaq Top 30 Stocks ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past year, QTOP returned 38.12% vs 22.39% for FDL. At a 0.03 correlation, their price movements are largely independent. QTOP charges 0.20%/yr vs 0.43%/yr for FDL.

Performance

QTOP vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq Top 30 Stocks ETF (QTOP) and First Trust Morningstar Dividend Leaders Index Fund (FDL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QTOP achieves a 17.15% return, which is significantly higher than FDL's 12.67% return.

QTOP

1D
-3.69%
1M
-1.41%
YTD
17.15%
6M
15.48%
1Y
38.12%
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)

QTOP vs. FDL - Yearly Performance Comparison

2026 (YTD)20252024
QTOP
iShares Nasdaq Top 30 Stocks ETF		17.15%22.19%6.25%
FDL
First Trust Morningstar Dividend Leaders Index Fund		12.67%14.79%-2.67%

Correlation

The correlation between QTOP and FDL is -0.12, 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

-0.12

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2024

0.03

The correlation between QTOP and FDL shifts across timeframes, from -0.12 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.

QTOP vs. FDL - Sectors Allocation Comparison

Sectors
QTOP
FDL

Technology

62.3%
1.4%

Communication Services

15.7%
10.6%

Consumer Cyclical

9.9%
4.7%

Consumer Defensive

6.9%
14.4%

Healthcare

2.9%
17.6%

Basic Materials

1.4%
0.3%

Industrials

0.9%
3.9%

Energy

-

25.7%

Financial Services

-

15.2%

Real Estate

-

-

Utilities

-

6.5%

Technology

QTOP
62.3%
FDL
1.4%

Communication Services

QTOP
15.7%
FDL
10.6%

Consumer Cyclical

QTOP
9.9%
FDL
4.7%

Consumer Defensive

QTOP
6.9%
FDL
14.4%

Healthcare

QTOP
2.9%
FDL
17.6%

Basic Materials

QTOP
1.4%
FDL
0.3%

Industrials

QTOP
0.9%
FDL
3.9%

Energy

QTOP

-

FDL
25.7%

Financial Services

QTOP

-

FDL
15.2%

Real Estate

QTOP

-

FDL

-

Utilities

QTOP

-

FDL
6.5%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Nasdaq Top 30 Stocks ETF

First Trust Morningstar Dividend Leaders Index Fund

Often compared with QTOP:
QTOP vs. QQQQTOP vs. TOPTQTOP vs. QQQMQTOP vs. MAGSQTOP vs. QBIGQTOP vs. VGTQTOP vs. XLK
Often compared with FDL:
FDL vs. SCHDFDL vs. FDVVFDL vs. VYMFDL vs. SPYDFDL vs. LVHDFDL vs. SPHDFDL vs. VOO

Return for Risk

QTOP vs. FDL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QTOP
QTOP Risk / Return Rank: 6060
Overall Rank
QTOP Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
QTOP Sortino Ratio Rank: 5555
Sortino Ratio Rank
QTOP Omega Ratio Rank: 5959
Omega Ratio Rank
QTOP Calmar Ratio Rank: 6262
Calmar Ratio Rank
QTOP Martin Ratio Rank: 6161
Martin Ratio Rank
FDL
FDL Risk / Return Rank: 6969
Overall Rank
FDL Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
FDL Sortino Ratio Rank: 6868
Sortino Ratio Rank
FDL Omega Ratio Rank: 5757
Omega Ratio Rank
FDL Calmar Ratio Rank: 9090
Calmar Ratio Rank
FDL Martin Ratio Rank: 6969
Martin Ratio Rank
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.

QTOP vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Top 30 Stocks ETF (QTOP) 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.

QTOPFDLDifference
Sharpe ratioReturn per unit of total volatility
1.97
1.95

+0.02

Sortino ratioReturn per unit of downside risk
2.56
2.96

-0.40

Omega ratioGain probability vs. loss probability

1.35

1.34

+0.01

Calmar ratioReturn relative to maximum drawdown

2.97

5.26

-2.29

Martin ratioReturn relative to average drawdown

10.59

12.40

-1.81

QTOP vs. FDL - Sharpe Ratio Comparison

The current QTOP Sharpe Ratio is 1.97, which is comparable to the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of QTOP 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.

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Drawdowns

QTOP vs. FDL - Drawdown Comparison

The maximum QTOP drawdown since its inception was -23.28%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for QTOP and FDL.

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Drawdown Indicators

QTOPFDLDifference

Max Drawdown

Largest peak-to-trough decline

-23.28%

-65.93%

+42.65%

Max Drawdown (1Y)

Largest decline over 1 year

-12.88%

-4.27%

-8.61%

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

-4.74%

-3.09%

-1.65%

Average Drawdown

Average peak-to-trough decline

-3.80%

-9.64%

+5.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.61%

1.81%

+1.80%

Volatility

QTOP vs. FDL - Volatility Comparison

iShares Nasdaq Top 30 Stocks ETF (QTOP) has a higher volatility of 9.71% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.72%. This indicates that QTOP'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.

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Volatility by Period

QTOPFDLDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.71%

3.72%

+5.99%

Volatility (6M)

Calculated over the trailing 6-month period

16.00%

8.09%

+7.91%

Volatility (1Y)

Calculated over the trailing 1-year period

19.50%

11.54%

+7.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.44%

14.31%

+9.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.44%

17.11%

+6.33%

QTOP vs. FDL - Expense Ratio Comparison

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

Dividends

QTOP vs. FDL - Dividend Comparison

QTOP's dividend yield for the trailing twelve months is around 0.33%, less than FDL's 3.70% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QTOP
iShares Nasdaq Top 30 Stocks ETF		0.33%0.38%0.11%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

QTOP and FDL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

QTOP has higher volatility (9.71%) compared to FDL (3.72%). In terms of maximum drawdown, QTOP dropped -23.28% vs FDL's -65.93%.

On 1-year performance, QTOP leads with 38.12% vs 22.39% for FDL. On fees, QTOP is cheaper at 0.20% 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.

Over the 1-year period, QTOP has performed better with a 38.12% return vs 22.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

FDL has the higher dividend yield at 3.70%, compared with 0.33% for QTOP.

QTOP is categorized as Nasdaq-100, while FDL is Large Cap Value Equities. QTOP tracks Nasdaq-100 Top 30 Index, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.20% for QTOP and 0.43% for FDL.

QTOP currently has the higher Sharpe Ratio (1.97 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.

Portfolio Optimizer

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