FDL vs IVV
First Trust Morningstar Dividend Leaders Index Fund vs iShares Core S&P 500 ETF
Which is better, FDL or IVV?
Large Cap Value against Large Cap Blend.
IVV has a lower expense ratio. FDL led over 1Y and 5Y, IVV over 3Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 49.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FDL | IVV |
|---|---|---|
| Expense Ratio | 0.43% | 0.03%Best |
| AUM | $8.1B | $876.4B |
| Dividend Yield | 3.49% | 1.06% |
| Holdings | 202 | 508 |
| YTD Return | +18.38%Best | +11.57% |
| 1Y Return | +23.53%Best | +17.57% |
| 3Y Return (annualized) | +19.54% | +20.71%Best |
| 5Y Return (annualized) | +13.86%Best | +12.80% |
| Volatility (annualized) | 16.1% | 15.2%Best |
| Max Drawdown | -68.6% | -56.5%Best |
| $10,000 over 5 years | $19,136Best | $18,262 |
| Top 10 Weight | 49.5% | 37.9%Best |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Mar 9, 2006 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Mar 15, 2006 to Sep 10, 2026 (20.5 years).
FDL vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 20.5 years both funds cover.
FDL vs IVV Performance
First Trust Morningstar Dividend Leaders Index Fund (FDL) is an ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FDL returned +23.53% while IVV returned +17.57%. Year to date, FDL is up 18.38% versus a gain of 11.57% for IVV.
Over three years, FDL compounded at +19.54% per year against +20.71% for IVV; over five years the annualized figures are +13.86% and +12.80% respectively. Across the full 21-year window we track, IVV has the edge at +9.38% annualized vs +5.82%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FDL has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.2% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -68.6% for FDL and -56.5% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FDL charges 0.43% per year while IVV charges 0.03%. On a $10,000 position that is $43 vs $3 annually, a gap of $40 per year that compounds over a long holding period. On income, FDL currently yields 3.49% against 1.06% for IVV.
Holdings Overlap
92.7% of FDL's money is in holdings IVV also owns. 5.2% of IVV's money is in holdings FDL also owns.
Most of FDL is already inside IVV. Owning both mostly buys the same companies twice.
59 positions in common, counted across the 100 positions we hold weights for in FDL and 505 in IVV, against full books of 202 and 508.
What only one of them owns
Our book lists 436 positions for IVV that do not appear in our book for FDL (94.1% of the fund), and 41 for FDL that do not appear in IVV (6.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FDL | Weight in IVV | Difference |
|---|---|---|---|
| CVXChevron Corp. | 8.53% | 0.52% | 8.01% |
| VZVerizon Communications, Inc. | 7.82% | 0.29% | 7.53% |
| PFEPfizer, Inc. | 6.45% | 0.22% | 6.23% |
| PMPhilip Morris International Inc. | 5.79% | 0.44% | 5.35% |
| PEPPepsico Inc. | 4.63% | 0.29% | 4.34% |
| MOAltria Group Inc. | 4.07% | 0.17% | 3.90% |
| BMYBristol-Myers Squibb Co. | 3.67% | 0.20% | 3.47% |
| CMCSAComcast Corp. Class A | 3.14% | 0.13% | 3.01% |
| UPSUnited Parcel Service, Inc | 2.82% | 0.12% | 2.70% |
| ACNAccenture Plc | 2.60% | 0.16% | 2.44% |
92.7% of FDL is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FDL or IVV?
FDL has an expense ratio of 0.43% while IVV charges 0.03%. IVV is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, FDL or IVV?
Over the past year FDL returned +23.53% vs +17.57% for IVV, so FDL leads on 1-year performance. Over the longest common window we track (21 years), FDL annualized +5.82% vs +9.38% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FDL or IVV?
FDL has been the more volatile fund at 16.1% annualized versus 15.2% for IVV. Worst drawdown: FDL -68.6% vs IVV -56.5%.
Should I hold both FDL and IVV?
FDL and IVV have a monthly-return correlation of 0.75, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FDL and IVV?
92.7% of FDL's money is in holdings IVV also owns. 5.2% of IVV's is in holdings FDL also owns. They hold 59 positions in common, counted across the 100 positions we hold weights for in FDL and 505 in IVV.
Which pays a higher dividend, FDL or IVV?
FDL yields 3.49% while IVV yields 1.06%, so FDL currently pays the higher dividend yield.
Is IVV better than FDL?
IVV has a lower expense ratio. FDL led over 1Y and 5Y, IVV over 3Y and the full window. IVV is less concentrated, with 37.9% of the fund in its ten largest positions against 49.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.