RBLU vs. FDL

Last updated Jun 25, 2026

RBLU (T-Rex 2X Long RBLX Daily Target ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - RBLU is a Leveraged Equities fund tracking the Roblox Corp. Class A (RBLX), while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past year, RBLU returned -88.74% vs 21.91% for FDL. At a correlation of -0.10, they often move in opposite directions. RBLU charges 1.05%/yr vs 0.43%/yr for FDL.

Performance

RBLU vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T-Rex 2X Long RBLX Daily Target ETF (RBLU) 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, RBLU achieves a -75.81% return, which is significantly lower than FDL's 12.30% return.

RBLU

• 1D: 3.22%
• 1M: -5.75%
• YTD: -75.81%
• 6M: -76.46%
• 1Y: -88.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: -0.32%
• 1M: -3.06%
• YTD: 12.30%
• 6M: 12.10%
• 1Y: 21.91%
• 3Y*: 18.97%
• 5Y*: 12.94%
• 10Y*: 11.09%

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

RBLU vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
RBLU T-Rex 2X Long RBLX Daily Target ETF	-75.81%	23.90%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.30%	5.44%

Correlation

The correlation between RBLU and FDL is -0.18, 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	-0.18
Correlation (All Time) Calculated using the full available price history since Mar 4, 2025	-0.10

Return for Risk

RBLU vs. FDL — Risk / Return Rank

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

RBLU

RBLU Risk / Return Rank: 2
RBLU Sharpe Ratio Rank: 4
RBLU Sortino Ratio Rank: 2
RBLU Omega Ratio Rank: 1
RBLU Calmar Ratio Rank: 1
RBLU Martin Ratio Rank: 2

FDL

FDL Risk / Return Rank: 72
FDL Sharpe Ratio Rank: 65
FDL Sortino Ratio Rank: 72
FDL Omega Ratio Rank: 60
FDL Calmar Ratio Rank: 91
FDL Martin Ratio Rank: 72

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.

RBLU vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T-Rex 2X Long RBLX Daily Target ETF (RBLU) 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.

	RBLU	FDL	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	1.91	-2.63
Sortino ratio: Return per unit of downside risk	-1.47	2.90	-4.37
Omega ratio: Gain probability vs. loss probability	0.82	1.33	-0.51
Calmar ratio: Return relative to maximum drawdown	-0.94	5.15	-6.09
Martin ratio: Return relative to average drawdown	-1.35	12.05	-13.41

RBLU vs. FDL - Sharpe Ratio Comparison

The current RBLU Sharpe Ratio is -0.72, which is lower than the FDL Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of RBLU 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

RBLU vs. FDL - Drawdown Comparison

The maximum RBLU drawdown since its inception was -94.76%, which is greater than FDL's maximum drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for RBLU and FDL.

Drawdown Indicators

	RBLU	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-94.76%	-65.93%	-28.83%
Max Drawdown (1Y) Largest decline over 1 year	-94.76%	-4.27%	-90.49%
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	-93.24%	-3.40%	-89.84%
Average Drawdown Average peak-to-trough decline	-44.91%	-9.63%	-35.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	65.53%	1.82%	+63.71%

Volatility

RBLU vs. FDL - Volatility Comparison

T-Rex 2X Long RBLX Daily Target ETF (RBLU) has a higher volatility of 36.78% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 3.54%. This indicates that RBLU'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

	RBLU	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	36.78%	3.54%	+33.24%
Volatility (6M) Calculated over the trailing 6-month period	102.66%	8.10%	+94.56%
Volatility (1Y) Calculated over the trailing 1-year period	122.99%	11.55%	+111.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	118.25%	14.31%	+103.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	118.25%	17.11%	+101.14%

RBLU vs. FDL - Expense Ratio Comparison

RBLU has a 1.05% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

RBLU vs. FDL - Dividend Comparison

RBLU's dividend yield for the trailing twelve months is around 5.35%, more than FDL's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.71%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
RBLU T-Rex 2X Long RBLX Daily Target ETF	5.35%	1.29%	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 RBLU and FDL in my portfolio?

RBLU and FDL have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RBLU or FDL?

RBLU has higher volatility (36.78%) compared to FDL (3.54%). In terms of maximum drawdown, RBLU dropped -94.76% vs FDL's -65.93%.

Which ETF is better, RBLU or FDL?

On 1-year performance, FDL leads with 21.91% vs -88.74% for RBLU. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RBLU or FDL?

Over the 1-year period, FDL has performed better with a 21.91% return vs -88.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RBLU or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 1.05% for RBLU.

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

RBLU has the higher dividend yield at 5.35%, compared with 3.71% for FDL.

What is the main difference between RBLU and FDL?

RBLU is categorized as Leveraged Equities, while FDL is Large Cap Value Equities. RBLU tracks Roblox Corp. Class A (RBLX), while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: T-Rex and First Trust. Their fees differ too: 1.05% for RBLU and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.91 vs -0.72), 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.