Data as of Oct 28, 2026.
FDL vs IVOV: Differences, Returns & Fees
Over the year to Oct 28, 2026, FDL returned +26.0% to IVOV's +12.9%; 4% of their weight is in the same names.
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Net assets: $8.2bn on Oct 27, 2026 for First Trust Morningstar ETF, and $1.2bn on Sep 30, 2026 for Vanguard S&P Mid-Cap 400 Value ETF.
Pair scorecard
IVOV costs 0.33 points a year less; their one-year returns differ by 13.1 points.
| Measure | FDL | IVOV |
|---|---|---|
| Return | ||
| Total return, 1 year | +26.0% | +12.9% |
| Drawdown | ||
| Below its high | 4.7%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Morningstar Dividend Leaders Index | S&P MidCap 400 Value Index |
| Cost and size | ||
| Expense ratio | 0.43% | 0.10% |
| Net assets, FDL as of Oct 27, 2026 and IVOV as of Sep 30, 2026 | $8.2bn | $1.2bn |
| Holdings | ||
| Holdings in common | 4% | |
| Top ten holdings, share of the fund | 50.6% | 10.7% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 17, 2010 to Oct 23, 2026 · 840 weekly returnsFDL returned more: +568.0% to +460.6%. FDL swung less: 15.1% to 19.9%. FDL fell less at its worst: −38.0% to −43.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FDL | IVOV | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +568.0% | +460.6% | FDL | Price change plus distributions, reinvested. |
| Annualized | +12.5% | +11.3% | FDL (slight) | Total return as a yearly rate. |
| Price return | +252.3% | +333.6% | IVOV | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 15.1% | 19.9% | FDL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 10.5% | 13.9% | FDL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −38.0% | −43.3% | FDL | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.75 | 0.56 | FDL | Return above Treasury bills per unit of volatility. |
| Sortino | 1.07 | 0.80 | FDL | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.33 | 0.26 | FDL | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 840 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FDL and IVOV hold 4% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
4% in common
Only in one fund ↓
Side by side
FDL and IVOV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FDL and IVOV 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 IVOV follows S&P MidCap 400 Value Index.
- Holdings in common. 4% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FDL returned +26.0% and IVOV +12.9% with distributions reinvested, a gap of 13.1 points.
Data as of Oct 28, 2026.
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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%.
IVOV
IVOV tracks an index. Over the year to Oct 28, 2026 it returned +12.9% with distributions reinvested, against +12.9% for its benchmark, the S&P MidCap 400 Value Index. The prospectus expense ratio is 0.10% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 298 positions, with the top ten at 10.7%. It sat 4.7% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FDL or IVOV?
- In the year to Oct 28, 2026, with distributions reinvested, FDL returned +26.0% and IVOV +12.9%.
- Which is cheaper, FDL or IVOV?
- IVOV is cheaper, by 0.33 percentage points a year. That is about $33 on $10,000 held for a year. Fees come from each fund's prospectus.
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 IVOV, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdl-vs-ivov
ETFIQ. (Oct 28, 2026). FDL against IVOV. Retrieved from https://etfiq.com/compare/any/fdl-vs-ivov
[FDL against IVOV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fdl-vs-ivov)
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