TDIV.L vs. UIND.L

Last updated Jul 16, 2026

TDIV.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and UIND.L (First Trust US Equity Income UCITS ETF) are both Dividend funds - TDIV.L tracks the VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF while UIND.L tracks the First Trust US Equity Income UCITS ETF. Both are passively managed. Over the past 10 years, TDIV.L returned 13.69%/yr vs 10.02%/yr for UIND.L. A 0.63 correlation means they provide meaningful diversification when combined.

Performance

TDIV.L vs. UIND.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.L) and First Trust US Equity Income UCITS ETF (UIND.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDIV.L achieves a 10.69% return, which is significantly lower than UIND.L's 17.33% return. Over the past 10 years, TDIV.L has outperformed UIND.L with an annualized return of 13.69%, while UIND.L has yielded a comparatively lower 10.02% annualized return.

TDIV.L

• 1D: -0.15%
• 1M: 1.36%
• 6M: 9.22%
• YTD: 10.69%
• 1Y: 28.89%
• 3Y*: 22.29%
• 5Y*: 17.57%
• 10Y*: 13.69%

UIND.L

• 1D: -0.05%
• 1M: 2.08%
• 6M: 14.18%
• YTD: 17.33%
• 1Y: 23.34%
• 3Y*: 15.67%
• 5Y*: -56.37%
• 10Y*: 10.02%

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

TDIV.L vs. UIND.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TDIV.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	10.69%	40.41%	8.93%	15.44%	9.29%	18.14%	-2.30%	37.03%	-6.76%	3.94%
UIND.L First Trust US Equity Income UCITS ETF	17.33%	7.36%	6.74%	17.10%	-99.07%	12,946.70%	1.16%	17.39%	-8.36%	15.10%

Correlation

The correlation between TDIV.L and UIND.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 23, 2016	0.63

The correlation between TDIV.L and UIND.L shifts across timeframes, from 0.54 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TDIV.L vs. UIND.L — Risk / Return Rank

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

TDIV.L

TDIV.L Risk / Return Rank: 91
TDIV.L Sharpe Ratio Rank: 92
TDIV.L Sortino Ratio Rank: 91
TDIV.L Omega Ratio Rank: 90
TDIV.L Calmar Ratio Rank: 94
TDIV.L Martin Ratio Rank: 88

UIND.L

UIND.L Risk / Return Rank: 78
UIND.L Sharpe Ratio Rank: 80
UIND.L Sortino Ratio Rank: 84
UIND.L Omega Ratio Rank: 73
UIND.L Calmar Ratio Rank: 84
UIND.L Martin Ratio Rank: 68

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.

TDIV.L vs. UIND.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.L) and First Trust US Equity Income UCITS ETF (UIND.L). 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.

	TDIV.L	UIND.L	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.03	+0.50
Sortino ratio: Return per unit of downside risk	3.48	3.05	+0.43
Omega ratio: Gain probability vs. loss probability	1.46	1.34	+0.11
Calmar ratio: Return relative to maximum drawdown	5.40	3.69	+1.71
Martin ratio: Return relative to average drawdown	15.16	9.85	+5.31

TDIV.L vs. UIND.L - Sharpe Ratio Comparison

The current TDIV.L Sharpe Ratio is 2.54, which is comparable to the UIND.L Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of TDIV.L and UIND.L, 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

TDIV.L vs. UIND.L - Drawdown Comparison

The maximum TDIV.L drawdown since its inception was -37.94%, smaller than the maximum UIND.L drawdown of -99.21%. Use the drawdown chart below to compare losses from any high point for TDIV.L and UIND.L.

Drawdown Indicators

	TDIV.L	UIND.L	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-99.21%	+61.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.27%	-6.83%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-13.89%	-21.42%	+7.53%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-99.21%	+80.69%
Max Drawdown (10Y) Largest decline over 10 years	-37.94%	-99.21%	+61.27%
Current Drawdown Current decline from peak	-0.15%	-98.61%	+98.46%
Average Drawdown Average peak-to-trough decline	-4.00%	-46.02%	+42.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.56%	-0.68%

Volatility

TDIV.L vs. UIND.L - Volatility Comparison

The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDIV.L) is 3.57%, while First Trust US Equity Income UCITS ETF (UIND.L) has a volatility of 3.98%. This indicates that TDIV.L experiences smaller price fluctuations and is considered to be less risky than UIND.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDIV.L	UIND.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.57%	3.98%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	8.53%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	11.21%	12.48%	-1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	47.78%	-33.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	3,136.02%	-3,119.82%

Dividends

TDIV.L vs. UIND.L - Dividend Comparison

TDIV.L's dividend yield for the trailing twelve months is around 3.14%, more than UIND.L's 2.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TDIV.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.14%	3.49%	4.36%	4.82%	4.49%	4.14%	3.88%	4.37%	5.77%	4.50%	0.00%
UIND.L First Trust US Equity Income UCITS ETF	2.78%	3.00%	2.90%	3.14%	3.27%	0.02%	3.14%	3.04%	3.14%	2.42%	1.69%

Frequently Asked Questions

Can I hold both TDIV.L and UIND.L in my portfolio?

TDIV.L and UIND.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between TDIV.L and UIND.L?

TDIV.L tracks VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF, while UIND.L tracks First Trust US Equity Income UCITS ETF. They also come from different issuers: VanEck and First Trust.