First Trust Morningstar Dividend Leaders Index Fund·Financial Services

Designed to provide broad exposure to the Large Cap Value segment of the US equity market, the First Trust Morningstar Dividend Leaders ETF (FDL) is a passively managed exchange traded fund launched on March 9, 2006.

The First Trust Morningstar Dividend Leaders ETF offers a 4% yield, supported by underlying dividends rather than capital gains or option strategies. FDL's portfolio is heavily weighted toward energy (over 30%), positioning it to benefit from current macro tailwinds and elevated oil prices. While FDL has underperformed the S&P 500 over long horizons, it has outperformed during recent energy market rallies, making it attractive for tactical allocation.

Shares of First Trust Morningstar Dividend Leaders Index Fund (NYSEARCA:FDL - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $45.25 and traded as high as $50.17. First Trust Morningstar Dividend Leaders Index Fund shares last traded at $50.02, with a volume

Shifting from higher-risk assets to consistent income sources is a natural progression for retirees.

Five dividend ETFs -- DFJ, SCHD, FDL, HDV and EYLD -- have outpaced SPY in 2026 as investors rotate toward quality income plays.

Dividend stocks and defensive sectors have dramatically outperformed as investors flee AI-vulnerable and AI-spending industries, but valuations now appear stretched. Consumer staples and energy sectors trade at historically high forward P/E multiples, often exceeding the S&P 500, despite lower long-term earnings growth prospects. Materials and industrials have also become extended, with valuations reflecting significant future earnings already priced in, especially given AI infrastructure spending.
The First Trust Morningstar Dividend Leaders Index Fund is an exchange-traded index fund. The investment objective of the Fund is to replicate as closely as possible, before fees and expenses, the price and yield of the Morningstar Dividend Leaders IndexSM.
Financial Services
Asset Management
2006-03-15
0.56
Market Peers





