TTEQ vs. FDL

Last updated Jul 12, 2026

TTEQ (T. Rowe Price Technology ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - TTEQ is a Technology Equities fund actively managed by T. Rowe Price, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. TTEQ is actively managed, while FDL is passively managed. Over the past year, TTEQ returned 46.59% vs 19.83% for FDL. At a correlation of -0.03, they often move in opposite directions. TTEQ charges 0.63%/yr vs 0.43%/yr for FDL.

Performance

TTEQ vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Technology ETF (TTEQ) 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, TTEQ achieves a 31.65% return, which is significantly higher than FDL's 14.31% return.

TTEQ

• 1D: -0.20%
• 1M: 0.47%
• 6M: 28.22%
• YTD: 31.65%
• 1Y: 46.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 0.73%
• 1M: -1.68%
• 6M: 11.32%
• YTD: 14.31%
• 1Y: 19.83%
• 3Y*: 18.30%
• 5Y*: 13.35%
• 10Y*: 10.77%

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

TTEQ vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TTEQ T. Rowe Price Technology ETF	31.65%	24.25%	0.78%
FDL First Trust Morningstar Dividend Leaders Index Fund	14.31%	14.79%	-2.67%

Correlation

The correlation between TTEQ and FDL is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Oct 24, 2024	-0.03

The correlation between TTEQ and FDL shifts across timeframes, from -0.19 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.

TTEQ vs. FDL - Sectors Allocation Comparison

Sectors	TTEQ	FDL
Technology	79.3%	1.4%
Communication Services	11.1%	10.6%
Consumer Cyclical	5.8%	4.7%
Financial Services	3.1%	15.2%
Industrials	0.7%	3.9%
Basic Materials	0.5%	0.3%
Consumer Defensive	-	14.4%
Energy	-	25.7%
Healthcare	-	17.6%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

TTEQ vs. FDL — Risk / Return Rank

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

TTEQ

TTEQ Risk / Return Rank: 62
TTEQ Sharpe Ratio Rank: 66
TTEQ Sortino Ratio Rank: 58
TTEQ Omega Ratio Rank: 62
TTEQ Calmar Ratio Rank: 67
TTEQ Martin Ratio Rank: 58

FDL

FDL Risk / Return Rank: 70
FDL Sharpe Ratio Rank: 62
FDL Sortino Ratio Rank: 69
FDL Omega Ratio Rank: 58
FDL Calmar Ratio Rank: 91
FDL Martin Ratio Rank: 70

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.

TTEQ vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Technology ETF (TTEQ) 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.

	TTEQ	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.65	+0.06
Sortino ratio: Return per unit of downside risk	2.22	2.52	-0.30
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	2.68	4.50	-1.82
Martin ratio: Return relative to average drawdown	8.12	10.20	-2.09

TTEQ vs. FDL - Sharpe Ratio Comparison

The current TTEQ Sharpe Ratio is 1.71, which is comparable to the FDL Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TTEQ 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

TTEQ vs. FDL - Drawdown Comparison

The maximum TTEQ drawdown since its inception was -26.97%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for TTEQ and FDL.

Drawdown Indicators

	TTEQ	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-26.97%	-65.93%	+38.96%
Max Drawdown (1Y) Largest decline over 1 year	-17.31%	-4.27%	-13.04%
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	-5.68%	-1.68%	-4.00%
Average Drawdown Average peak-to-trough decline	-4.84%	-9.62%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	1.89%	+3.81%

Volatility

TTEQ vs. FDL - Volatility Comparison

T. Rowe Price Technology ETF (TTEQ) has a higher volatility of 12.42% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.63%. This indicates that TTEQ'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

	TTEQ	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.42%	4.63%	+7.79%
Volatility (6M) Calculated over the trailing 6-month period	23.35%	8.53%	+14.82%
Volatility (1Y) Calculated over the trailing 1-year period	27.10%	11.64%	+15.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.86%	14.36%	+14.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.86%	17.11%	+11.75%

TTEQ vs. FDL - Expense Ratio Comparison

TTEQ has a 0.63% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

TTEQ vs. FDL - Dividend Comparison

TTEQ has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.71%.

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%
TTEQ T. Rowe Price Technology ETF	0.00%	0.00%	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 TTEQ and FDL in my portfolio?

TTEQ and FDL have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TTEQ or FDL?

TTEQ has higher volatility (12.42%) compared to FDL (4.63%). In terms of maximum drawdown, TTEQ dropped -26.97% vs FDL's -65.93%.

Which ETF is better, TTEQ or FDL?

On 1-year performance, TTEQ leads with 46.59% vs 19.83% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TTEQ or FDL?

Over the 1-year period, TTEQ has performed better with a 46.59% return vs 19.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TTEQ or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.63% for TTEQ.

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

FDL has the higher dividend yield at 3.71%, compared with 0.00% for TTEQ.

What is the main difference between TTEQ and FDL?

TTEQ is categorized as Technology Equities, while FDL is Large Cap Value Equities. They also come from different issuers: T. Rowe Price and First Trust. Their fees differ too: 0.63% for TTEQ and 0.43% for FDL.

Which has better risk-adjusted returns?

TTEQ currently has the higher Sharpe Ratio (1.71 vs 1.65), 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.