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FDL vs TVAL: Differences, Returns & Fees

FDL and TVAL hold 6% of their weight in the same names, and TVAL returned +26.8% over the year. Net assets on Oct 9, 2026: $7.7bn for First Trust Morningstar ETF and $1.1bn for T. Rowe Price Value ETF.

TVAL costs 0.10 points a year less; their one-year returns differ by 6.2 points; FDL is 7.1 times larger.

FDL vs TVAL: Differences, Returns & Fees
FDLTVAL
Expense ratio0.43%0.33%
Net assets$7.7bn$1.1bn
Total return, 1 year+20.6%+26.8%
What it tracksMorningstar Dividend Leaders IndexNo index, actively managed
Holdings in common6%
Top ten holdings, share of the fund50.4%23.0%
Below its high5.9%, high on Aug 24, 2026

Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.

+20.6%
FDL total return, 1 year
+26.8%
TVAL total return, 1 year
0.43%
FDL expense ratio
0.33%
TVAL expense ratio

What they hold in common

By the books each fund has filed, FDL and TVAL hold 6% 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 Jun 30, 2026 and Oct 9, 2026.

half

6% in common

Positions both hold, largest shared weight first
Holding FDL TVAL
The Southern Company 2.30% 1.31%
Philip Morris International Inc. 6.77% 1.30%
U.S. Bancorp 1.96% 1.23%
Chevron Corporation 9.08% 0.57%
Huntington Bancshares Incorporated 0.73% 0.56%
Bristol-Myers Squibb Company 3.06% 0.40%
Stanley Black & Decker, Inc. 0.31% 0.47%
Skyworks Solutions, Inc. 0.30% 0.36%
Verizon Communications Inc. 6.56% 0.25%
DTE Energy Company 0.60% 0.18%
Only in FDL
Pfizer Inc. 6.55%
PepsiCo, Inc. 4.97%
Altria Group, Inc. 4.95%
United Parcel Service, Inc. (Class B) 3.04%
Accenture plc 3.00%
Comcast Corporation (Class A) 2.45%
Medtronic Plc 2.33%
Duke Energy Corporation 2.20%
Only in TVAL
AMAZON.COM INC 5.03%
APPLE INC 2.96%
MICROSOFT CORP 2.28%
ALPHABET INC CL C 2.12%
INTEL CORP 1.90%
BANK OF AMERICA CORP 1.89%
EXXON MOBIL CORP 1.77%
PROCTER & GAMBLE CO/THE 1.74%

Check overlap with more funds →

On the same fields

FDL
First Trust Morningstar ETF
TVAL
T. Rowe Price Value ETF
Where it sits Stock ETF Stock ETF
Issuer First Trust T. Rowe Price
What it is Tracks an index Actively managed
Total return, 1 year +20.6% +26.8%
Its benchmark over the same days not published +26.4% (IWD)
Gap to its benchmark not available +0.4 pts vs IWD
Expense ratio 0.43% 0.33%
Already in the S&P 500 93.3% 93.3%
Holdings 100 158
Net assets $7.7bn $1.1bn

FDL and TVAL 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 TVAL

TVAL is actively managed and tracks no index. The prospectus expense ratio is 0.33% a year. By its holdings filed for Jun 30, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 158 positions, with the top ten at 23.0%.

Over the year to Oct 9, 2026 it returned +26.8% with distributions reinvested, against +26.4% for its benchmark, the Russell 1000 Value Index.

Questions people ask

Which returned more over the last year, FDL or TVAL?
In the year to Oct 9, 2026, with distributions reinvested, FDL returned +20.6% and TVAL +26.8%.
Which is cheaper, FDL or TVAL?
TVAL is cheaper, by 0.10 percentage points a year. That is about $10 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FDL and TVAL overlap with the S&P 500?
By their latest filed holdings, 93% of FDL and 93% of TVAL by weight is stocks the S&P 500 already holds.
Other comparisons
FDL vs JVALFDL vs SPHDFDL vs SPYVFDL vs SCHDFTCS vs TVALJAVA vs TVALSPYD vs TVALSPLV vs TVAL
FDL on its own →TVAL 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 ↗TVAL filings on SEC EDGAR ↗TVAL prospectus with the expense ratio (SEC) ↗T. Rowe Price website ↗

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 TVAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/fdl-vs-tval

Open data

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