Which returned more over the last year, FDL or ILCV?

In the year to Oct 28, 2026, with distributions reinvested, FDL returned +26.0% and ILCV +21.2%.

Which is cheaper, FDL or ILCV?

ILCV is cheaper, by 0.39 percentage points a year. That is about $39 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do FDL and ILCV overlap with the S&P 500?

By their latest filed holdings, 93% of FDL and 96% of ILCV by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

FDL vs ILCV: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FDL returned +26.0% to ILCV's +21.2%; 10% of their weight is in the same names.

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Net assets on Oct 27, 2026: $8.2bn for First Trust Morningstar ETF and $1.4bn for iShares Morningstar Value ETF.

FDL on its own →ILCV on its own →

At a glance

+26.0%

FDL total return, 1 year

+21.2%

ILCV total return, 1 year

0.43%

FDL expense ratio

0.04%

ILCV expense ratio

Pair scorecard

ILCV costs 0.39 points a year less; their one-year returns differ by 4.8 points; FDL is 5.9 times larger.

FDL vs ILCV: Differences, Returns & Fees
Measure	FDL	ILCV
Return
Measure	FDL	ILCV
Total return, 1 year	+26.0%	+21.2%
Benchmark
Measure	FDL	ILCV
What it tracks	Morningstar Dividend Leaders Index	Morningstar US Large-Mid Cap Broad Value Index
Cost and size
Measure	FDL	ILCV
Expense ratio	0.43%	0.04%
Net assets, as of Oct 27, 2026	$8.2bn	$1.4bn
Holdings
Measure	FDL	ILCV
Holdings in common	10%
Top ten holdings, share of the fund	50.6%	35.0%

Holdings in common uses holdings dated Oct 27, 2026. Method

Risk and return

Mar 24, 2006 to Oct 23, 2026 · 1,074 weekly returns

FDL ILCV

Return

Total return edge FDL +488.5% +420.5%

Annualized edge FDL (slight) +9.0% +8.3%

Price return edge ILCV +157.9% +197.8%

Risk

Volatility edge ILCV (slight) 18.5% 17.9%

Max drawdown edge ILCV −65.7% −58.2%

Risk-adjusted

Sharpe edge FDL (slight) 0.46 0.44

Sortino edge FDL (slight) 0.66 0.61

Calmar edge ILCV (slight) 0.14 0.14

Reading

FDL returned more: +488.5% to +420.5%. ILCV swung slightly less: 17.9% to 18.5%. ILCV fell less at its worst: −58.2% to −65.7%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FDL vs ILCV: Differences, Returns & Fees
Measure	FDL	ILCV	Edge	How it is measured
Return
Total return	+488.5%	+420.5%	FDL	Price change plus distributions, reinvested.
Annualized	+9.0%	+8.3%	FDL (slight)	Total return as a yearly rate.
Price return	+157.9%	+197.8%	ILCV	Price change alone, distributions left out.
Risk
Volatility	18.5%	17.9%	ILCV (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	13.0%	12.8%	Tie	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−65.7%	−58.2%	ILCV	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.46	0.44	FDL (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.66	0.61	FDL (slight)	Return above Treasury bills per unit of downside deviation.
Calmar	0.14	0.14	ILCV (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,074 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

10%

By the books each fund has filed, FDL and ILCV hold 10% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

10% in common

Positions both hold · largest shared weight first FDL ILCV

Chevron Corporation 9.28% 1.22%

Philip Morris International Inc. 6.48% 0.90%

PepsiCo, Inc. 5.00% 0.52%

Verizon Communications Inc. 6.58% 0.52%

Pfizer Inc. 6.55% 0.49%

Accenture plc 3.20% 0.41%

Bristol-Myers Squibb Company 3.03% 0.36%

Altria Group, Inc. 4.82% 0.35%

Medtronic Plc 2.35% 0.34%

The Southern Company 2.35% 0.30%

Duke Energy Corporation 2.24% 0.28%

U.S. Bancorp 1.94% 0.27%

Only in one fund ↓

Only in FDL

Ares Management Corporation (Class A) 0.63%

Best Buy Co., Inc. 0.52%

The Clorox Company 0.36%

Stanley Black & Decker, Inc. 0.32%

Pinnacle West Capital Corporation 0.31%

Skyworks Solutions, Inc. 0.31%

The AES Corporation 0.31%

The J.M. Smucker Company 0.30%

Only in ILCV

MICROSOFT 8.50%

APPLE 7.23%

AMAZON.COM INC 3.21%

BERKSHIRE HATHAWAY INC CLASS B 2.86%

JPMORGAN CHASE & CO 2.55%

META PLATFORMS CLASS A 2.49%

ALPHABET CLASS A 2.31%

EXXONMOBIL HOLDINGS CORP 2.11%

Check overlap with more funds →

Side by side

FDL First Trust Morningstar ETF ILCV iShares Morningstar Value ETF

Where it sits Stock ETF Stock ETF

Issuer First Trust iShares

What it is Tracks an index Tracks an index

Total return, 1 year +26.0% +21.2%

Expense ratio 0.43% 0.04%

Already in the S&P 500 93.3% 96.0%

Holdings 100 373

Net assets, as of Oct 27, 2026 $8.2bn $1.4bn

FDL and ILCV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-12599ECC57

FDL and ILCV are built for the same job. How do they differ in cost, holdings and results?

What each follows. FDL follows Morningstar Dividend Leaders Index and ILCV follows Morningstar US Large-Mid Cap Broad Value Index.
Holdings in common. 10% of the weight is in the same securities (holdings dated Oct 27, 2026).
One-year total return. Over 1 year to Oct 28, 2026 FDL returned +26.0% and ILCV +21.2% with distributions reinvested, a gap of 4.8 points.

Data as of Oct 28, 2026.

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About each fund

FDL

FDL tracks an index. Over the year to Oct 28, 2026 it returned +26.0% with distributions reinvested. The prospectus expense ratio is 0.43% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 100 positions, with the top ten at 50.6%.

ILCV

ILCV tracks an index. Over the year to Oct 28, 2026 it returned +21.2% with distributions reinvested. The prospectus expense ratio is 0.04% a year. By its holdings published by its issuer for Oct 27, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 373 positions, with the top ten at 35.0%.

Questions people ask

Which returned more over the last year, FDL or ILCV?: In the year to Oct 28, 2026, with distributions reinvested, FDL returned +26.0% and ILCV +21.2%.
Which is cheaper, FDL or ILCV?: ILCV is cheaper, by 0.39 percentage points a year. That is about $39 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FDL and ILCV overlap with the S&P 500?: By their latest filed holdings, 93% of FDL and 96% of ILCV by weight is stocks the S&P 500 already holds.

Other comparisons

FDL vs FTA FDL vs RWK FDL vs IMCV FDL vs FEX ILCV vs IMCV ILCV vs RSPA ILCV vs IVOV ILCV vs PEY

Where to next

FDL on its own →ILCV on its own →Hold both: look the portfolio through →Rankings →FDL dividend history →FDL holdings →ILCV dividend history →ILCV holdings →Standards and sources →

Sources and dates

FDL filings on SEC EDGAR ↗

FDL prospectus with the expense ratio (SEC) ↗

First Trust page for FDL ↗

ILCV filings on SEC EDGAR ↗

ILCV prospectus with the expense ratio (SEC) ↗

iShares page for ILCV ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FDL against ILCV, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdl-vs-ilcv

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