UDIV vs. FDVV

Last updated Jun 24, 2026

UDIV (Franklin U.S. Core Dividend Tilt Index ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - UDIV is a Dividend fund tracking the Linked Morningstar US Dividend Enhanced Select Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, UDIV returned 13.95%/yr vs 13.69%/yr for FDVV. Their correlation of 0.83 suggests significant overlap in exposure. UDIV charges 0.06%/yr vs 0.29%/yr for FDVV.

Performance

UDIV vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin U.S. Core Dividend Tilt Index ETF (UDIV) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UDIV achieves a 12.46% return, which is significantly higher than FDVV's 8.39% return.

UDIV

• 1D: -1.34%
• 1M: -0.74%
• YTD: 12.46%
• 6M: 11.52%
• 1Y: 28.77%
• 3Y*: 23.16%
• 5Y*: 13.95%
• 10Y*: 11.60%

FDVV

• 1D: 0.08%
• 1M: 0.43%
• YTD: 8.39%
• 6M: 8.10%
• 1Y: 22.16%
• 3Y*: 19.90%
• 5Y*: 13.69%
• 10Y*: —

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

UDIV vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UDIV Franklin U.S. Core Dividend Tilt Index ETF	12.46%	19.00%	25.61%	25.21%	-15.00%	19.66%	5.54%	24.60%	-8.83%	17.44%
FDVV Fidelity High Dividend ETF	8.39%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	14.00%

Correlation

The correlation between UDIV and FDVV is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.83

The correlation between UDIV and FDVV has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

UDIV vs. FDVV - Sectors Allocation Comparison

Sectors	UDIV	FDVV
Technology	40.3%	30.5%
Financial Services	11.3%	17.0%
Communication Services	10.2%	3.6%
Consumer Cyclical	8.7%	13.6%
Healthcare	7.1%	3.0%
Industrials	5.9%	3.0%
Consumer Defensive	5.4%	10.7%
Real Estate	3.6%	9.9%
Energy	3.3%	-
Utilities	3.1%	8.6%
Basic Materials	0.8%	-

Return for Risk

UDIV vs. FDVV — Risk / Return Rank

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

UDIV

UDIV Risk / Return Rank: 75
UDIV Sharpe Ratio Rank: 76
UDIV Sortino Ratio Rank: 72
UDIV Omega Ratio Rank: 75
UDIV Calmar Ratio Rank: 71
UDIV Martin Ratio Rank: 80

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 71
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

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.

UDIV vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Core Dividend Tilt Index ETF (UDIV) and Fidelity High Dividend ETF (FDVV). 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.

	UDIV	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.19	+0.10
Sortino ratio: Return per unit of downside risk	3.08	3.06	+0.01
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	3.42	2.39	+1.03
Martin ratio: Return relative to average drawdown	15.00	9.89	+5.10

UDIV vs. FDVV - Sharpe Ratio Comparison

The current UDIV Sharpe Ratio is 2.30, which is comparable to the FDVV Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of UDIV and FDVV, 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

UDIV vs. FDVV - Drawdown Comparison

The maximum UDIV drawdown since its inception was -35.21%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for UDIV and FDVV.

Drawdown Indicators

	UDIV	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-40.25%	+5.04%
Max Drawdown (1Y) Largest decline over 1 year	-8.44%	-9.30%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-19.19%	-15.90%	-3.29%
Max Drawdown (5Y) Largest decline over 5 years	-23.18%	-20.18%	-3.00%
Max Drawdown (10Y) Largest decline over 10 years	-35.21%	—	—
Current Drawdown Current decline from peak	-2.88%	-1.31%	-1.57%
Average Drawdown Average peak-to-trough decline	-4.63%	-3.79%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.24%	-0.32%

Volatility

UDIV vs. FDVV - Volatility Comparison

Franklin U.S. Core Dividend Tilt Index ETF (UDIV) has a higher volatility of 4.96% compared to Fidelity High Dividend ETF (FDVV) at 3.09%. This indicates that UDIV's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UDIV	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	3.09%	+1.87%
Volatility (6M) Calculated over the trailing 6-month period	9.91%	8.26%	+1.65%
Volatility (1Y) Calculated over the trailing 1-year period	12.60%	10.15%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	14.73%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	16.97%	-0.67%

UDIV vs. FDVV - Expense Ratio Comparison

UDIV has a 0.06% expense ratio, which is lower than FDVV's 0.29% expense ratio.

Dividends

UDIV vs. FDVV - Dividend Comparison

UDIV's dividend yield for the trailing twelve months is around 1.12%, less than FDVV's 2.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDVV Fidelity High Dividend ETF	2.86%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%
UDIV Franklin U.S. Core Dividend Tilt Index ETF	1.12%	1.53%	2.05%	1.91%	3.20%	2.97%	2.90%	3.40%	3.74%	3.47%	1.63%

Frequently Asked Questions

Can I hold both UDIV and FDVV in my portfolio?

UDIV and FDVV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UDIV or FDVV?

UDIV has higher volatility (4.96%) compared to FDVV (3.09%). In terms of maximum drawdown, UDIV dropped -35.21% vs FDVV's -40.25%.

Which ETF is better, UDIV or FDVV?

On 5-year performance, UDIV leads with 13.95% vs 13.69% for FDVV. On fees, UDIV is cheaper at 0.06% per year. On volatility, FDVV has been the lower-risk option at 3.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UDIV or FDVV?

Over the 5-year period, UDIV has performed better with a 13.95% return vs 13.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UDIV or FDVV?

UDIV is cheaper with a 0.06% expense ratio, compared with 0.29% for FDVV.

Which ETF pays a higher dividend yield, UDIV or FDVV?

FDVV has the higher dividend yield at 2.86%, compared with 1.12% for UDIV.

What is the main difference between UDIV and FDVV?

UDIV is categorized as Dividend, while FDVV is Large Cap Blend Equities. UDIV tracks Linked Morningstar US Dividend Enhanced Select Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: Franklin Templeton and Fidelity. Their fees differ too: 0.06% for UDIV and 0.29% for FDVV.

Which has better risk-adjusted returns?

UDIV currently has the higher Sharpe Ratio (2.30 vs 2.19), 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.