ATLASFirst Trust Morningstar Dividend Leaders Index Fund (FDL): outlook, holdings and fees
First Trust Morningstar Dividend Leaders Index Fund (FDL) is an exchange-traded fund and is managed by First Trust. The expense ratio is 0.44% and the yield is 3.76%. The ten largest holdings are 50% of the fund.
Fund data as of Oct 14, 2026 · Price Nov 2, 2026
ATLAS view on FDL
| Last price | $54.00 (+0.3%) |
|---|---|
| ATLAS chance of a higher price in 1 month | 55% |
| Likely 1-month range (50%) | $52.79 – $55.77 |
| Normal 1-day range (±1σ) | ±0.9% |
| Distribution yield | 3.76% · quarterly |
ATLAS probabilities use the same calibrated model as every stock page. A fair value is shown for companies, not funds; the holdings below link to the fair value of each company.
FDL fund facts
| Issuer | First Trust |
|---|---|
| Theme | Dividend stocks |
| Assets under management | $7.7B |
| Expense ratio | 0.44% |
| Number of holdings | 49 |
| Portfolio turnover | 48% |
| Inception | Mar 9, 2006 |
| Exchange | NYSE |
The fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the index. The index is designed to measure the performance of the 100 highest-yielding stocks that have a consistent record of dividend payment and have the ability to sustain their dividend payments. It is non-diversified.
FDL top holdings
| Holding | Sector | Weight |
|---|---|---|
| Chevron Corp CVX | Energy | 9.08% |
| Philip Morris International Inc PM | Consumer Defensive | 6.60% |
| Verizon Communications Inc VZ | Communication Services | 6.43% |
| Pfizer Inc PFE | Healthcare | 6.72% |
| PepsiCo Inc PEP | Consumer Defensive | 4.96% |
| Altria Group MO | Consumer Defensive | 4.91% |
| Bristol-Myers Squibb Company BMY | Healthcare | 3.08% |
| United Parcel Service Inc UPS | Industrials | 2.97% |
| Accenture plc ACN | Technology | 3.15% |
| Comcast Corp CMCSA | Communication Services | 2.46% |
Holdings with an ATLAS page link to their probability range, fair value and earnings calendar.
FDL sector breakdown
| Sector | Weight |
|---|---|
| Consumer Defensive | 23.9% |
| Utilities | 14.8% |
| Energy | 13.3% |
| Healthcare | 12.5% |
| Financial Services | 12.1% |
| Communication Services | 10.2% |
| Technology | 5.6% |
| Consumer Cyclicals | 4.0% |
| Industrials | 3.4% |
| Basic Materials | 0.4% |
By region: North America 98.7%, United Kingdom 0.7%, Europe Developed 0.6%.
FDL returns and risk
| Year to date | +15.9% |
|---|---|
| 1 year | +21.5% |
| 3 years (annualised) | +20.3% |
| 5 years (annualised) | +12.5% |
| 10 years (annualised) | +10.6% |
| Volatility (3 years) | 13.2% |
| Sharpe ratio (3 years) | 1.00 |
Past returns do not guarantee future results.
FDL: frequently asked questions
What does FDL invest in?
First Trust Morningstar Dividend Leaders Index Fund invests in a portfolio of securities. Its largest holdings are Chevron Corp (9.1%), Philip Morris International Inc (6.6%), Verizon Communications Inc (6.4%), Pfizer Inc (6.7%), PepsiCo Inc (5.0%).
What is the FDL expense ratio?
0.44% a year: about $44.00 for every $10,000 invested.
What is the FDL dividend yield?
3.76%, paid quarterly. ATLAS does not hold the exact distribution dates for ETFs.
Will FDL go up?
Nobody can know. The ATLAS model puts the chance of a higher price in one month at 55%, with a likely range (50%) of $52.79 to $55.77 from $54.00 today. It is a probability, not a prediction.
How has FDL performed?
Year to date +15.9%, one year +21.5%, three years +20.3% a year, five years +12.5% a year. Past returns do not guarantee future results.
Similar ETFs: Dividend stocks
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- iShares Core Dividend Growth ETF (DGRO)
- Capital Group Dividend Value ETF (CGDV)
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Educational information, not investment advice. Disclaimer