Data as of Oct 28, 2026.
FDL vs RWK: Differences, Returns & Fees
Over the year to Oct 28, 2026, FDL returned +26.0% to RWK's +15.8%; 3% 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 $1.3bn for Invesco S&P MidCap 400 Revenue ETF.
Pair scorecard
RWK costs 0.04 points a year less; their one-year returns differ by 10.2 points; FDL is 6.3 times larger.
| Measure | FDL | RWK |
|---|---|---|
| Return | ||
| Total return, 1 year | +26.0% | +15.8% |
| Drawdown | ||
| Below its high | 5.4%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Morningstar Dividend Leaders Index | S&P MidCap 400 Revenue-Weighted Index |
| Cost and size | ||
| Expense ratio | 0.43% | 0.39% |
| Net assets, as of Oct 27, 2026 | $8.2bn | $1.3bn |
| Holdings | ||
| Holdings in common | 3% | |
| Top ten holdings, share of the fund | 50.6% | 20.7% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
Feb 29, 2008 to Oct 23, 2026 · 973 weekly returnsRWK returned more: +590.3% to +510.1%. FDL swung less: 18.6% to 23.9%. FDL and RWK fell about the same at their worst: −56.6% and −56.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FDL | RWK | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +510.1% | +590.3% | RWK | Price change plus distributions, reinvested. |
| Annualized | +10.1% | +10.9% | RWK (slight) | Total return as a yearly rate. |
| Price return | +185.6% | +450.3% | RWK | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.6% | 23.9% | FDL | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.0% | 16.7% | FDL | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −56.6% | −56.2% | Tie | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.54 | 0.49 | FDL (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.77 | 0.70 | FDL (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.18 | 0.19 | RWK (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 973 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FDL and RWK hold 3% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
3% in common
Only in one fund ↓
Side by side
FDL and RWK on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FDL and RWK 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 RWK follows S&P MidCap 400 Revenue-Weighted Index.
- Holdings in common. 3% 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 RWK +15.8% with distributions reinvested, a gap of 10.2 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%.
RWK
RWK tracks an index. Over the year to Oct 28, 2026 it returned +15.8% with distributions reinvested. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 27, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 399 positions, with the top ten at 20.7%. It sat 5.4% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FDL or RWK?
- In the year to Oct 28, 2026, with distributions reinvested, FDL returned +26.0% and RWK +15.8%.
- Which is cheaper, FDL or RWK?
- RWK is cheaper, by 0.04 percentage points a year. That is about $4 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 RWK, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdl-vs-rwk
ETFIQ. (Oct 28, 2026). FDL against RWK. Retrieved from https://etfiq.com/compare/any/fdl-vs-rwk
[FDL against RWK (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fdl-vs-rwk)
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