FDL — First Trust Morningstar Dividend Leaders Index Fund

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.

Overview

First Trust Morningstar Dividend Leaders Index Fund is a Dividend Income ETF issued by First Trust with $7.54 billion in assets under management. It holds a B+ grade, ranking 6th out of 20 peers in its category and 12th among 458 tracked ETFs overall. The fund charges an expense ratio of 0.43%, which exceeds the category median of 0.29%, while offering a dividend yield of 3.66% that significantly outpaces the median of 2.69%. Its portfolio is concentrated, with the top ten holdings comprising 48.1% of assets and Chevron Corp representing the largest single position at 7.4%.

The fund has delivered a 1-year return of 27.62%, substantially beating the category median of 17.96% and contributing to a 3-year cumulative return of 88.92%. Short-term momentum is evident with a 1-month gain of 6.60% and a year-to-date increase of 21.67%, contrasting with a slight 1-day dip of 0.73%. The current price of $52.95 places the ETF at 93.1% of its 52-week range, indicating it is trading near the upper end of its recent historical bounds. The ETFValuer grade of B+ has remained unchanged over the last 35 tracked days, reflecting stability in its assessment despite only 3.0 years of available price history.

With a beta of 0.34, the fund exhibits low sensitivity to broader market movements, moving less than a third of the market's volatility. This conservative profile is supported by an annualized volatility of 12.26%, labeled as Low, and a maximum drawdown of -12.25%, suggesting limited downside severity during recent declines. A Sharpe ratio of 1.85 indicates strong risk-adjusted returns relative to the volatility experienced. Liquidity is adequate for institutional trading, with an average daily volume of 672,857 shares facilitating efficient entry and exit.

AI-generated summary based on the data on this page.

FDL Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 48.1% 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 5 of the same companies as FDL's top 10 (28.7% of FDL's assets).

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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FDL Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 673K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $7.54B 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

How FDL Compares to Other Dividend Income ETFs