TYLG vs. FDL

Last updated Jul 15, 2026

TYLG (Global X Information Technology Covered Call & Growth ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - TYLG is a Derivative Income fund tracking the Cboe S&P Technology Select Sector Half BuyWrite Index - Benchmark TR Gross, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Both are passively managed. Over the past 3 years, TYLG returned 22.13%/yr vs 18.33%/yr for FDL. At a 0.17 correlation, their price movements are largely independent. TYLG charges 0.60%/yr vs 0.43%/yr for FDL.

Performance

TYLG vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Information Technology Covered Call & Growth ETF (TYLG) 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, TYLG achieves a 20.57% return, which is significantly higher than FDL's 14.12% return.

TYLG

• 1D: 1.25%
• 1M: 0.44%
• 6M: 18.96%
• YTD: 20.57%
• 1Y: 36.16%
• 3Y*: 22.13%
• 5Y*: —
• 10Y*: —

FDL

• 1D: -0.96%
• 1M: -1.84%
• 6M: 11.21%
• YTD: 14.12%
• 1Y: 20.00%
• 3Y*: 18.33%
• 5Y*: 13.30%
• 10Y*: 10.66%

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

TYLG vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TYLG Global X Information Technology Covered Call & Growth ETF	20.57%	16.84%	20.57%	41.56%	-1.78%
FDL First Trust Morningstar Dividend Leaders Index Fund	14.12%	14.79%	17.98%	2.94%	-0.82%

Correlation

The correlation between TYLG and FDL is -0.20, 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	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022	0.17

The correlation between TYLG and FDL shifts across timeframes, from -0.20 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

TYLG vs. FDL - Sectors Allocation Comparison

Sectors	TYLG	FDL
Financial Services	53.4%	15.2%
Technology	46.9%	1.4%
Energy	0.1%	25.7%
Industrials	0.0%	3.9%
Basic Materials	-	0.3%
Communication Services	-	10.6%
Consumer Cyclical	-	4.7%
Consumer Defensive	-	14.4%
Healthcare	-	17.6%
Real Estate	-	-
Utilities	-	6.5%

Return for Risk

TYLG vs. FDL — Risk / Return Rank

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

TYLG

TYLG Risk / Return Rank: 78
TYLG Sharpe Ratio Rank: 80
TYLG Sortino Ratio Rank: 72
TYLG Omega Ratio Rank: 74
TYLG Calmar Ratio Rank: 83
TYLG Martin Ratio Rank: 83

FDL

FDL Risk / Return Rank: 73
FDL Sharpe Ratio Rank: 67
FDL Sortino Ratio Rank: 73
FDL Omega Ratio Rank: 62
FDL Calmar Ratio Rank: 92
FDL Martin Ratio Rank: 74

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.

TYLG vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Information Technology Covered Call & Growth ETF (TYLG) 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.

	TYLG	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.72	+0.29
Sortino ratio: Return per unit of downside risk	2.59	2.61	-0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.30	+0.05
Calmar ratio: Return relative to maximum drawdown	3.60	4.70	-1.10
Martin ratio: Return relative to average drawdown	12.83	10.73	+2.11

TYLG vs. FDL - Sharpe Ratio Comparison

The current TYLG Sharpe Ratio is 2.01, which is comparable to the FDL Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of TYLG 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

TYLG vs. FDL - Drawdown Comparison

The maximum TYLG drawdown since its inception was -24.01%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for TYLG and FDL.

Drawdown Indicators

	TYLG	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-24.01%	-65.93%	+41.92%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-4.27%	-5.82%
Max Drawdown (3Y) Largest decline over 3 years	-24.01%	-12.24%	-11.77%
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	-3.20%	-1.84%	-1.36%
Average Drawdown Average peak-to-trough decline	-2.76%	-9.62%	+6.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	1.88%	+0.94%

Volatility

TYLG vs. FDL - Volatility Comparison

Global X Information Technology Covered Call & Growth ETF (TYLG) has a higher volatility of 7.91% compared to First Trust Morningstar Dividend Leaders Index Fund (FDL) at 4.75%. This indicates that TYLG'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

	TYLG	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.91%	4.75%	+3.16%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	8.43%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.10%	11.67%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	14.37%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	17.12%	+2.45%

TYLG vs. FDL - Expense Ratio Comparison

TYLG has a 0.60% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

TYLG vs. FDL - Dividend Comparison

TYLG's dividend yield for the trailing twelve months is around 8.04%, more than FDL's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDL First Trust Morningstar Dividend Leaders Index Fund	3.72%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%
TYLG Global X Information Technology Covered Call & Growth ETF	8.04%	7.66%	7.24%	11.89%	0.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TYLG and FDL in my portfolio?

TYLG and FDL have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TYLG or FDL?

TYLG has higher volatility (7.91%) compared to FDL (4.75%). In terms of maximum drawdown, TYLG dropped -24.01% vs FDL's -65.93%.

Which ETF is better, TYLG or FDL?

On 3-year performance, TYLG leads with 22.13% vs 18.33% for FDL. On fees, FDL is cheaper at 0.43% per year. On volatility, FDL has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TYLG or FDL?

Over the 3-year period, TYLG has performed better with a 22.13% return vs 18.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TYLG or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.60% for TYLG.

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

TYLG has the higher dividend yield at 8.04%, compared with 3.72% for FDL.

What is the main difference between TYLG and FDL?

TYLG is categorized as Derivative Income, while FDL is Large Cap Value Equities. TYLG tracks Cboe S&P Technology Select Sector Half BuyWrite Index - Benchmark TR Gross, while FDL tracks Morningstar Dividend Leaders Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.60% for TYLG and 0.43% for FDL.

Which has better risk-adjusted returns?

TYLG currently has the higher Sharpe Ratio (2.01 vs 1.72), 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.