Data as of Oct 28, 2026.
FDL vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, FDL returned +26.0% to VOE's +22.8%; 13% 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 $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VOE costs 0.38 points a year less; their one-year returns differ by 3.2 points.
| Measure | FDL | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | +26.0% | +22.8% |
| Benchmark | ||
| What it tracks | Morningstar Dividend Leaders Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.43% | 0.05% |
| Net assets, FDL as of Oct 27, 2026 and VOE as of Sep 30, 2026 | $8.2bn | $22.8bn |
| Holdings | ||
| Holdings in common | 13% | |
| Top ten holdings, share of the fund | 50.6% | 14.0% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 1, 2006 to Oct 23, 2026 · 1,051 weekly returnsVOE returned more: +515.4% to +439.7%. FDL swung slightly less: 18.6% to 20.4%. VOE fell slightly less at its worst: −61.2% to −65.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FDL | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +439.7% | +515.4% | VOE | Price change plus distributions, reinvested. |
| Annualized | +8.7% | +9.4% | VOE (slight) | Total return as a yearly rate. |
| Price return | +138.8% | +301.7% | VOE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.6% | 20.4% | FDL (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.1% | 14.5% | FDL (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −65.7% | −61.2% | VOE (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.45 | 0.46 | VOE (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.64 | 0.65 | Tie | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.13 | 0.15 | VOE | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,051 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FDL and VOE hold 13% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
13% in common
Only in one fund ↓
Side by side
FDL and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FDL and VOE 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 VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 13% 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 VOE +22.8% with distributions reinvested, a gap of 3.2 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%.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, FDL or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, FDL returned +26.0% and VOE +22.8%.
- Which is cheaper, FDL or VOE?
- VOE is cheaper, by 0.38 percentage points a year. That is about $38 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 VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/fdl-vs-voe
ETFIQ. (Oct 28, 2026). FDL against VOE. Retrieved from https://etfiq.com/compare/any/fdl-vs-voe
[FDL against VOE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fdl-vs-voe)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.