TGLR vs. FDL

Last updated Jun 4, 2026

TGLR (LAFFER|TENGLER Equity Income ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both Large Cap Value Equities funds. TGLR is actively managed, while FDL is passively managed. Over the past year, TGLR returned 34.03% vs 23.67% for FDL. A 0.52 correlation means they provide meaningful diversification when combined. TGLR charges 0.95%/yr vs 0.45%/yr for FDL.

Performance

TGLR vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LAFFER|TENGLER Equity Income ETF (TGLR) and First Trust Morningstar Dividend Leaders Index Fund (FDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TGLR having a 13.10% return and FDL slightly higher at 13.33%.

TGLR

• 1D: -0.66%
• 1M: 5.59%
• YTD: 13.10%
• 6M: 12.32%
• 1Y: 34.03%
• 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%

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

TGLR vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TGLR LAFFER|TENGLER Equity Income ETF	13.10%	23.30%	18.71%	4.07%
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	14.79%	17.98%	4.58%

Correlation

The correlation between TGLR and FDL is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Aug 9, 2023	0.52

The correlation between TGLR and FDL shifts across timeframes, from 0.33 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

TGLR vs. FDL - Sectors Allocation Comparison

Sectors	TGLR	FDL
Technology	24.6%	1.1%
Financial Services	15.2%	15.1%
Industrials	15.0%	3.8%
Consumer Cyclical	13.1%	3.8%
Healthcare	8.8%	16.8%
Energy	7.6%	27.3%
Consumer Defensive	4.7%	14.7%
Communication Services	3.7%	10.6%
Basic Materials	3.0%	0.3%
Utilities	2.1%	6.5%
Real Estate	2.1%	-

Return for Risk

TGLR vs. FDL — Risk / Return Rank

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

TGLR

TGLR Risk / Return Rank: 82
TGLR Sharpe Ratio Rank: 82
TGLR Sortino Ratio Rank: 84
TGLR Omega Ratio Rank: 80
TGLR Calmar Ratio Rank: 78
TGLR Martin Ratio Rank: 83

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.

TGLR vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LAFFER|TENGLER Equity Income ETF (TGLR) 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.

	TGLR	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.11	+0.60
Sortino ratio: Return per unit of downside risk	3.82	3.25	+0.57
Omega ratio: Gain probability vs. loss probability	1.48	1.37	+0.12
Calmar ratio: Return relative to maximum drawdown	3.97	5.56	-1.59
Martin ratio: Return relative to average drawdown	17.07	13.56	+3.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGLR vs. FDL - Sharpe Ratio Comparison

The current TGLR Sharpe Ratio is 2.71, which is comparable to the FDL Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of TGLR 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

	TGLR	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.11	+0.60
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	1.40	0.45	+0.95

Drawdowns

TGLR vs. FDL - Drawdown Comparison

The maximum TGLR drawdown since its inception was -19.82%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for TGLR and FDL.

Drawdown Indicators

	TGLR	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-19.82%	-65.93%	+46.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-4.27%	-4.35%
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	-0.66%	-2.18%	+1.52%
Average Drawdown Average peak-to-trough decline	-2.36%	-9.66%	+7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.75%	+0.25%

Volatility

TGLR vs. FDL - Volatility Comparison

LAFFER|TENGLER Equity Income ETF (TGLR) has a higher volatility of 3.68% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 2.85%. This indicates that TGLR'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

	TGLR	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.85%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	9.92%	7.87%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	11.28%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.29%	14.31%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.29%	17.11%	-1.82%

TGLR vs. FDL - Expense Ratio Comparison

TGLR has a 0.95% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

TGLR vs. FDL - Dividend Comparison

TGLR's dividend yield for the trailing twelve months is around 0.88%, less 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%
TGLR LAFFER|TENGLER Equity Income ETF	0.88%	1.16%	1.02%	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TGLR and FDL in my portfolio?

TGLR and FDL have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGLR or FDL?

TGLR has higher volatility (3.68%) compared to FDL (2.85%). In terms of maximum drawdown, TGLR dropped -19.82% vs FDL's -65.93%.

Which ETF is better, TGLR or FDL?

On 1-year performance, TGLR leads with 34.03% vs 23.67% 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, TGLR or FDL?

Over the 1-year period, TGLR has performed better with a 34.03% return vs 23.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TGLR or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.95% for TGLR.

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

FDL has the higher dividend yield at 3.68%, compared with 0.88% for TGLR.

What is the main difference between TGLR and FDL?

They also come from different issuers: LAFFER TENGLER and First Trust. Their fees differ too: 0.95% for TGLR and 0.45% for FDL.

Which has better risk-adjusted returns?

TGLR currently has the higher Sharpe Ratio (2.71 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.