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 (FDL) is a Dividend Income ETF issued by First Trust with $8.09 billion in assets under management. It holds a B+ grade, ranking 7th out of 20 peers in its category and 35th among 458 tracked ETFs overall. The fund’s 0.43% expense ratio exceeds the category median of 0.29%, while its 3.49% dividend yield significantly outpaces the median of 2.67%. Top ten holdings comprise 48.1% of assets, with Chevron Corporation representing the largest single position at 7.4%.

The fund has delivered a 1-year return of 24.66%, surpassing the category median of 20.27% and a year-to-date gain of 20.36%. Short-term momentum shows a 1-month return of 2.62% and a 3-month return of 6.16%, contrasting with recent declines of 0.88% over one day and 0.45% over one week. The current price of $52.92 sits at 92.8% of its 52-week range, indicating it is near the upper end of its historical trading band. The B+ rating has remained unchanged across the last 35 tracked days, based on 3.0 years of available price history.

With a beta of 0.34, the fund exhibits low sensitivity to market movements, contributing to its annualized volatility of 11.84%, which is labeled as Low. This conservative risk profile is reflected in a maximum drawdown of -12.25% and a strong Sharpe ratio of 1.66. Liquidity is supported by an average daily volume of 843,296 shares, though the bid/ask spread of 1.91% suggests moderate trading costs. These metrics collectively describe a fund that has historically prioritized stability and risk-adjusted returns over high-frequency trading activity.

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: 4.77% (as of 2026-09-03) — 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): 14.32 (as of 2026-09-03) — 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 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

FDL Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 1.91% and average daily volume is 843K/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 $8.09B 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