FDL — First Trust Morningstar Dividend Leaders Index Fund
Dividend Income Ranked #28 of 458 tracked ETFs · Issued by First Trust
FDL Price Performance — Growth of $10,000
Value of a $10,000 investment in FDL over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
FDL Drawdown
The "underwater" chart: FDL's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in FDL?
See what a lump sum in FDL would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The First Trust Morningstar Dividend Leaders Index Fund (FDL) operates within the Dividend Income category, which ETFValuer tracks with a total of 20 funds. Issued by First Trust, this fund has accumulated assets under management of $7.29 billion while trading at a price of $51.47. It holds an overall rank of #28 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B+ with a score of 77.7. The fund charges an expense ratio of 0.43% and offers a dividend yield of 3.80%. The substantial asset base and high ranking suggest significant investor adoption relative to the broader universe of tracked funds. Its position in the top tier of the overall ranking indicates strong performance characteristics compared to the average fund in the dataset.
Over the last day, the fund gained 1.56%, followed by a 0.70% increase over one week. Monthly returns accelerated to 5.20%, while the three-month return stood at 3.73%. The six-month return reached 12.68%, and year-to-date performance climbed to 17.06%. Annual returns showed a 1-year gain of 23.03%, with the three-year return totaling 63.68%. The data indicates a generally positive trajectory across all measured horizons, with the three-year return significantly outpacing the shorter-term annual figures. This pattern suggests sustained growth momentum over the longer term compared to the more recent one-year period.
FDL carries a volatility label of Low and a beta of 0.39, indicating that the fund's price movements are less sensitive to broader market fluctuations. A Sharpe ratio of 1.53 suggests the fund has generated strong risk-adjusted returns relative to its volatility. The maximum drawdown recorded for the fund is -12.25%, reflecting the largest peak-to-trough decline observed. This combination of low beta and a low volatility label implies the fund tends to experience smaller swings than the general market during both up and down periods. The high Sharpe ratio alongside the moderate maximum drawdown points to an efficient management of downside risk while capturing upside potential.
AI-generated summary based on the data on this page.
FDL Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | Exxon Mobil Corp. | 11.05% | $812M |
| 2 | CHEVRON CORP | 9.12% | $670M |
| 3 | Verizon Communications Inc. | 7.36% | $541M |
| 4 | Pfizer Inc. | 6.48% | $477M |
| 5 | Merck & Co., Inc | 5.51% | $405M |
| 6 | Pepsico Inc | 4.76% | $350M |
| 7 | Altria Group, Inc. | 4.45% | $327M |
| 8 | Bristol-Myers Squibb Company | 3.26% | $239M |
| 9 | United Parcel Service, Inc. | 3.03% | $223M |
| 10 | ConocoPhillips | 2.97% | $218M |
Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 58.0% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how FDL's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With FDL
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with FDL's top 10 — DHS overlaps most, holding 7 of the same companies as FDL's top 10 (45.5% of FDL's assets).
| ETF | Name | Shared Companies | FDL Weight | Examples |
|---|---|---|---|---|
| DHS | WisdomTree U.S. High Dividend Fund | 7 | 45.5% | Exxon Mobil Corp., CHEVRON CORP, Verizon Communications Inc.… |
| SDY | State Street SPDR S&P Dividend ETF | 4 | 32.3% | Exxon Mobil Corp., CHEVRON CORP, Verizon Communications Inc.… |
| SCHD | Schwab U.S. Dividend Equity ETF | 4 | 25.0% | CHEVRON CORP, Verizon Communications Inc., Merck & Co., Inc… |
| COWZ | Pacer US Cash Cows 100 ETF | 4 | 17.2% | Pfizer Inc., Altria Group, Inc., Bristol-Myers Squibb Company… |
| HDV | iShares Core High Dividend ETF | 3 | 25.7% | Exxon Mobil Corp., CHEVRON CORP, Merck & Co., Inc |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.71% (as of 2026-07-23) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 18.70 (as of 2026-07-23) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What FDL's Fees Cost You
FDL charges an expense ratio of 0.43% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
FDL Dividend Income Estimator
FDL currently yields 3.80%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
FDL Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 1.81% and average daily volume is 841K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $7.29B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: FDL is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
FDL Performance History
| Period | Return |
|---|---|
| 1-Day | +1.56% |
| 1-Week | +0.70% |
| 1-Month | +5.20% |
| 3-Month | +3.73% |
| 6-Month | +12.68% |
| YTD | +17.06% |
| 1-Year | +23.03% |
| 3-Year | +63.68% |
How FDL Compares to Other Dividend Income ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #2 | A |
VYMI | Vanguard International High Dividend Yield Index Fund ETF Shares | +27.63% | 0.07% | $20.4B |
| #5 | B+ |
VYM | Vanguard High Dividend Yield Index Fund ETF Shares | +21.67% | 0.04% | $96.2B |
| #7 | B+ |
SCHD | Schwab U.S. Dividend Equity ETF | +26.05% | 0.06% | $95.7B |
| #9 | B+ |
HDV | iShares Core High Dividend ETF | +23.86% | 0.08% | $13.7B |
| #12 | B+ |
DGRO | iShares Core Dividend Growth ETF | +20.83% | 0.08% | $41.2B |
| #16 | B+ |
IDV | iShares International Select Dividend ETF | +26.59% | 0.5% | $8.03B |
| #28 | B+ |
FDL | First Trust Morningstar Dividend Leaders Index Fund | +23.03% | 0.43% | $7.29B |
| #30 | B+ |
VIG | Vanguard Dividend Appreciation Index Fund ETF Shares | +16.43% | 0.04% | $129B |
| #38 | B+ |
DVY | iShares Select Dividend ETF | +21.92% | 0.38% | $22.9B |
| #52 | B |
SCHY | Schwab International Dividend Equity ETF | +20.58% | 0.08% | $2.31B |
| #56 | B |
RDVY | First Trust Rising Dividend Achievers ETF | +25.68% | 0.47% | $24.5B |
| #106 | B |
SPYD | State Street SPDR Portfolio S&P 500 High Dividend ETF | +17.62% | 0.07% | $7.37B |
| #141 | B |
DIVO | Amplify CWP Enhanced Dividend Income ETF | +14.96% | 0.56% | $7.19B |
| #178 | C |
SDY | State Street SPDR S&P Dividend ETF | +14.10% | 0.35% | $21.4B |
| #191 | C |
DGRW | WisdomTree U.S. Quality Dividend Growth Fund | +12.72% | 0.28% | $16.6B |
| #241 | C |
SPHD | Invesco S&P 500 High Dividend Low Volatility ETF | +12.23% | 0.3% | $3.31B |
| #266 | C |
VIGI | Vanguard International Dividend Appreciation Index Fund ETF Shares | +7.20% | 0.07% | $9.08B |
| #271 | C |
NOBL | ProShares S&P 500 Dividend Aristocrats ETF | +11.44% | 0.35% | $11.5B |
| #276 | C |
FVD | First Trust Value Line Dividend Index Fund | +10.98% | 0.62% | $8.04B |
| #306 | C |
PEY | Invesco High Yield Equity Dividend Achievers ETF | +17.75% | 0.54% | $1.09B |