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FDL vs IWD: Differences, Returns & Fees

FDL and IWD hold 9% of their weight in the same names, and IWD returned +26.4% over the year. Net assets on Oct 9, 2026: $7.7bn for First Trust Morningstar ETF and $82.9bn for iShares Russell 1000 Value ETF.

IWD costs 0.25 points a year less; their one-year returns differ by 5.8 points; IWD is 10.8 times larger.

FDL vs IWD: Differences, Returns & Fees
FDLIWD
Expense ratio0.43%0.18%
Net assets$7.7bn$82.9bn
Total return, 1 year+20.6%+26.4%
What it tracksMorningstar Dividend Leaders IndexRussell 1000 Value Index
Holdings in common9%
Top ten holdings, share of the fund50.4%30.0%
Below its high5.9%, high on Aug 24, 2026

Holdings in common uses holdings dated Oct 9, 2026.

+20.6%
FDL total return, 1 year
+26.4%
IWD total return, 1 year
0.43%
FDL expense ratio
0.18%
IWD expense ratio

What they hold in common

By the books each fund has filed, FDL and IWD hold 9% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 9, 2026.

half

9% in common

Positions both hold, largest shared weight first
Holding FDL IWD
Chevron Corporation 9.08% 1.06%
Philip Morris International Inc. 6.77% 0.85%
Verizon Communications Inc. 6.56% 0.47%
Pfizer Inc. 6.55% 0.43%
PepsiCo, Inc. 4.97% 0.41%
Accenture plc 3.00% 0.35%
Bristol-Myers Squibb Company 3.06% 0.33%
Altria Group, Inc. 4.95% 0.32%
Medtronic Plc 2.33% 0.31%
The Southern Company 2.30% 0.27%
Duke Energy Corporation 2.20% 0.24%
U.S. Bancorp 1.96% 0.24%
Only in FDL
Ares Management Corporation (Class A) 0.64%
Portland General Electric Company 0.16%
Black Hills Corporation 0.15%
Murphy Oil Corporation 0.13%
United Bankshares, Inc. 0.13%
Atlantic Union Bankshares Corporation 0.12%
New Jersey Resources Corporation 0.12%
Spire Inc. 0.12%
Only in IWD
AMAZON.COM INC 6.28%
APPLE 6.01%
MICROSOFT 5.35%
BERKSHIRE HATHAWAY INC CLASS B 2.59%
JPMORGAN CHASE & CO 2.40%
EXXONMOBIL HOLDINGS CORP 1.87%
JOHNSON & JOHNSON 1.70%
INTEL CORPORATION 1.29%

Check overlap with more funds →

On the same fields

FDL
First Trust Morningstar ETF
IWD
iShares Russell 1000 Value ETF
Where it sits Stock ETF Stock ETF
Issuer First Trust iShares
What it is Tracks an index Tracks the Russell 1000 value
Total return, 1 year +20.6% +26.4%
Its benchmark over the same days not published +26.5% (VONV)
Gap to its benchmark not available −0.1 pts vs VONV
Expense ratio 0.43% 0.18%
Already in the S&P 500 93.3% 90.0%
Holdings 100 871
Net assets $7.7bn $82.9bn

FDL and IWD on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About FDL

FDL tracks an index. Over the year to Oct 9, 2026 it returned +20.6% with distributions reinvested. The prospectus expense ratio is 0.43% a year. By its holdings published by its issuer for Oct 9, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 100 positions, with the top ten at 50.4%. It sat 5.9% below its high of Aug 24, 2026 on Oct 9, 2026.

About IWD

IWD tracks the Russell 1000 value. Over the year to Oct 9, 2026 it returned +26.4% with distributions reinvested, against +26.5% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 9, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 30.0%.

Questions people ask

Which returned more over the last year, FDL or IWD?
In the year to Oct 9, 2026, with distributions reinvested, FDL returned +20.6% and IWD +26.4%.
Which is cheaper, FDL or IWD?
IWD is cheaper, by 0.25 percentage points a year. That is about $25 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FDL and IWD overlap with the S&P 500?
By their latest filed holdings, 93% of FDL and 90% of IWD by weight is stocks the S&P 500 already holds.
Other comparisons
FDL vs VLUEFDL vs FTCSFDL vs FELVFDL vs SPHDIWD vs VTVFTCS vs IWDIWD vs JAVAIWD vs SPYD
FDL on its own →IWD on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FDL filings on SEC EDGAR ↗FDL prospectus with the expense ratio (SEC) ↗First Trust page for FDL ↗IWD filings on SEC EDGAR ↗IWD prospectus with the expense ratio (SEC) ↗iShares page for IWD ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 IWD, data as of Oct 9, 2026. https://etfiq.com/compare/any/fdl-vs-iwd

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.