SNOY vs. FDL
SNOY (YieldMax SNOW Option Income Strategy ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - SNOY is a Derivative Income fund actively managed by YieldMax, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. SNOY is actively managed, while FDL is passively managed. Over the past year, SNOY returned 12.02% vs 23.67% for FDL. At a 0.01 correlation, their price movements are largely independent. SNOY charges 0.99%/yr vs 0.45%/yr for FDL.
Performance
SNOY vs. FDL - Performance Comparison
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Returns By Period
In the year-to-date period, SNOY achieves a 9.89% return, which is significantly lower than FDL's 13.33% return.
SNOY
- 1D
- -5.43%
- 1M
- 59.59%
- YTD
- 9.89%
- 6M
- -4.49%
- 1Y
- 12.02%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
SNOY vs. FDL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SNOY YieldMax SNOW Option Income Strategy ETF | 9.89% | 30.66% | 21.03% |
FDL First Trust Morningstar Dividend Leaders Index Fund | 13.33% | 14.79% | 10.40% |
Correlation
The correlation between SNOY and FDL is -0.13, 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 | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024 | 0.01 |
The correlation between SNOY and FDL shifts across timeframes, from -0.13 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SNOY vs. FDL — Risk / Return Rank
SNOY
FDL
SNOY vs. FDL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax SNOW Option Income Strategy ETF (SNOY) 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.
| SNOY | FDL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.37 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 5.56 | -5.33 |
| Martin ratioReturn relative to average drawdown | 0.52 | 13.56 | -13.03 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SNOY | FDL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.21 | 2.11 | -1.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.88 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.45 | +0.17 |
Drawdowns
SNOY vs. FDL - Drawdown Comparison
The maximum SNOY drawdown since its inception was -50.90%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for SNOY and FDL.
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Drawdown Indicators
| SNOY | FDL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.90% | -65.93% | +15.03% |
Max Drawdown (1Y)Largest decline over 1 year | -50.90% | -4.27% | -46.63% |
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 | -10.82% | -2.18% | -8.64% |
Average DrawdownAverage peak-to-trough decline | -12.75% | -9.66% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.96% | 1.75% | +21.21% |
Volatility
SNOY vs. FDL - Volatility Comparison
YieldMax SNOW Option Income Strategy ETF (SNOY) has a higher volatility of 34.27% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.85%. This indicates that SNOY'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
| SNOY | FDL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 34.27% | 2.85% | +31.42% |
Volatility (6M)Calculated over the trailing 6-month period | 48.74% | 7.87% | +40.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.40% | 11.28% | +46.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.26% | 14.31% | +37.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.26% | 17.11% | +35.15% |
SNOY vs. FDL - Expense Ratio Comparison
SNOY has a 0.99% expense ratio, which is higher than FDL's 0.45% expense ratio.
Dividends
SNOY vs. FDL - Dividend Comparison
SNOY's dividend yield for the trailing twelve months is around 74.63%, more than FDL's 3.68% yield.
| 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% |
SNOY YieldMax SNOW Option Income Strategy ETF | 74.63% | 84.96% | 33.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SNOY and FDL have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SNOY has higher volatility (34.27%) compared to FDL (2.85%). In terms of maximum drawdown, SNOY dropped -50.90% vs FDL's -65.93%.
On 1-year performance, FDL leads with 23.67% vs 12.02% for SNOY. 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.
Over the 1-year period, FDL has performed better with a 23.67% return vs 12.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FDL is cheaper with a 0.45% expense ratio, compared with 0.99% for SNOY.
SNOY has the higher dividend yield at 74.63%, compared with 3.68% for FDL.
SNOY is categorized as Derivative Income, while FDL is Large Cap Value Equities. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 0.99% for SNOY and 0.45% for FDL.
FDL currently has the higher Sharpe Ratio (2.11 vs 0.21), 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.
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