WEBL vs. FDN

Last updated Jun 23, 2026

WEBL (Daily Dow Jones Internet Bull 3X Shares) and FDN (First Trust Dow Jones Internet Index) are both exchange-traded funds - WEBL is a Leveraged Equities fund tracking the Dow Jones Internet Composite Index (300%), while FDN is a Large Cap Growth Equities fund tracking the Dow Jones Internet Index. Both are passively managed. Over the past 5 years, WEBL returned -23.34%/yr vs 1.45%/yr for FDN. With a 1.00 correlation, they move nearly in lockstep. WEBL charges 1.17%/yr vs 0.52%/yr for FDN.

Performance

WEBL vs. FDN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Daily Dow Jones Internet Bull 3X Shares (WEBL) and First Trust Dow Jones Internet Index (FDN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WEBL achieves a -19.84% return, which is significantly lower than FDN's -3.51% return.

WEBL

• 1D: -6.56%
• 1M: -16.40%
• YTD: -19.84%
• 6M: -21.98%
• 1Y: -13.17%
• 3Y*: 26.91%
• 5Y*: -23.34%
• 10Y*: —

FDN

• 1D: -2.24%
• 1M: -5.16%
• YTD: -3.51%
• 6M: -4.37%
• 1Y: 2.41%
• 3Y*: 17.63%
• 5Y*: 1.45%
• 10Y*: 13.90%

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

WEBL vs. FDN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WEBL Daily Dow Jones Internet Bull 3X Shares	-19.84%	2.37%	76.78%	165.50%	-91.04%	2.73%	132.56%	10.36%
FDN First Trust Dow Jones Internet Index	-3.51%	10.70%	30.35%	51.48%	-45.54%	6.55%	52.55%	4.10%

Correlation

The correlation between WEBL and FDN is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019	1.00

The correlation between WEBL and FDN has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

WEBL vs. FDN - Sectors Allocation Comparison

Sectors	WEBL	FDN
Technology	43.1%	43.1%
Communication Services	27.0%	27.0%
Consumer Cyclical	25.5%	25.5%
Financial Services	2.0%	2.0%
Industrials	1.3%	1.3%
Healthcare	1.2%	1.2%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

WEBL vs. FDN — Risk / Return Rank

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

WEBL

WEBL Risk / Return Rank: 7
WEBL Sharpe Ratio Rank: 7
WEBL Sortino Ratio Rank: 8
WEBL Omega Ratio Rank: 8
WEBL Calmar Ratio Rank: 7
WEBL Martin Ratio Rank: 6

FDN

FDN Risk / Return Rank: 10
FDN Sharpe Ratio Rank: 10
FDN Sortino Ratio Rank: 9
FDN Omega Ratio Rank: 9
FDN Calmar Ratio Rank: 10
FDN Martin Ratio Rank: 9

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.

WEBL vs. FDN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Daily Dow Jones Internet Bull 3X Shares (WEBL) and First Trust Dow Jones Internet Index (FDN). 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.

	WEBL	FDN	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	0.12	-0.35
Sortino ratio: Return per unit of downside risk	0.08	0.30	-0.22
Omega ratio: Gain probability vs. loss probability	1.01	1.04	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.23	0.11	-0.35
Martin ratio: Return relative to average drawdown	-0.49	0.28	-0.77

WEBL vs. FDN - Sharpe Ratio Comparison

The current WEBL Sharpe Ratio is -0.22, which is lower than the FDN Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of WEBL and FDN, 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

WEBL vs. FDN - Drawdown Comparison

The maximum WEBL drawdown since its inception was -94.44%, which is greater than FDN's maximum drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for WEBL and FDN.

Drawdown Indicators

	WEBL	FDN	Difference
Max Drawdown Largest peak-to-trough decline	-94.44%	-61.55%	-32.89%
Max Drawdown (1Y) Largest decline over 1 year	-56.57%	-21.31%	-35.26%
Max Drawdown (3Y) Largest decline over 3 years	-60.82%	-24.98%	-35.84%
Max Drawdown (5Y) Largest decline over 5 years	-94.44%	-53.97%	-40.47%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.97%	—
Current Drawdown Current decline from peak	-76.40%	-10.36%	-66.04%
Average Drawdown Average peak-to-trough decline	-58.95%	-11.81%	-47.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.84%	8.52%	+18.32%

Volatility

WEBL vs. FDN - Volatility Comparison

Daily Dow Jones Internet Bull 3X Shares (WEBL) has a higher volatility of 22.93% compared to First Trust Dow Jones Internet Index (FDN) at 7.57%. This indicates that WEBL's price experiences larger fluctuations and is considered to be riskier than FDN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WEBL	FDN	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.93%	7.57%	+15.36%
Volatility (6M) Calculated over the trailing 6-month period	46.83%	15.55%	+31.28%
Volatility (1Y) Calculated over the trailing 1-year period	58.99%	19.81%	+39.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	81.00%	27.36%	+53.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	82.87%	25.66%	+57.21%

WEBL vs. FDN - Expense Ratio Comparison

WEBL has a 1.17% expense ratio, which is higher than FDN's 0.52% expense ratio.

Dividends

WEBL vs. FDN - Dividend Comparison

WEBL's dividend yield for the trailing twelve months is around 0.25%, while FDN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FDN First Trust Dow Jones Internet Index	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WEBL Daily Dow Jones Internet Bull 3X Shares	0.25%	0.25%	0.00%	0.00%	0.00%	4.79%	0.00%	0.06%

Frequently Asked Questions

Can I hold both WEBL and FDN in my portfolio?

With a correlation of 1.00, WEBL and FDN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, WEBL or FDN?

WEBL has higher volatility (22.93%) compared to FDN (7.57%). In terms of maximum drawdown, WEBL dropped -94.44% vs FDN's -61.55%.

Which ETF is better, WEBL or FDN?

On 5-year performance, FDN leads with 1.45% vs -23.34% for WEBL. On fees, FDN is cheaper at 0.52% per year. On volatility, FDN has been the lower-risk option at 7.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WEBL or FDN?

Over the 5-year period, FDN has performed better with a 1.45% return vs -23.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WEBL or FDN?

FDN is cheaper with a 0.52% expense ratio, compared with 1.17% for WEBL.

Which ETF pays a higher dividend yield, WEBL or FDN?

WEBL has the higher dividend yield at 0.25%, compared with 0.00% for FDN.

What is the main difference between WEBL and FDN?

WEBL is categorized as Leveraged Equities, while FDN is Large Cap Growth Equities. WEBL tracks Dow Jones Internet Composite Index (300%), while FDN tracks Dow Jones Internet Index. They also come from different issuers: Direxion and First Trust. Their fees differ too: 1.17% for WEBL and 0.52% for FDN.

Which has better risk-adjusted returns?

FDN currently has the higher Sharpe Ratio (0.12 vs -0.22), 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.