VS
TD Q U.S. Low Volatility ETF (TULV) and First Trust Morningstar Dividend Leaders ETF (FDL) offer distinct profiles for Canadian ETF investors. A direct comparison shows that TULV focuses its top 3 sector exposures on Consumer Non-Cyclicals, Healthcare, and Utilities, while FDL leans towards Consumer Non-Cyclicals, Utilities, and Finance. When evaluating costs, TULV features a management fee (MER) of 0.3%, compared to 0.15% for FDL. Performance-wise, TULV has returned 18.3% year-to-date with -$13 M in net flows, whereas FDL is at 22.36% with +$1 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
TULV
FDL
| AuM | $58.86 M | $12.91 M |
| Management Fees | 0.30% | 0.15% |
| Exp. ratio | 0.34% | 0.59% |
| Tracking Difference | - | - |
Historical performance and flows
As of November 11, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | TULV | +8.28% | +9.92% | +18.30% | +15.66% | +51.31% |
FDL | +7.04% | +3.66% | +22.36% | +25.14% | +73.09% | |
| Flows | TULV | +$1 M | +$1 M | -$13 M | -$15 M | -$12 M |
FDL | -$0 M | +$0 M | +$1 M | +$1 M | -$0 M |
TULV vs FDL exposure
Countries
TULV
USA
98.66%
FDL
USA
91.33%
Other
8.67%
Sectors
TULV
Consumer Non-Cyclicals
22.95%
Healthcare
21.76%
Utilities
15.53%
Finance
12.84%
Technology
10.80%
Other
16.13%
FDL
Consumer Non-Cyclicals
24.06%
Utilities
14.48%
Finance
12.91%
Healthcare
12.09%
Energy
11.19%
Telecommunications
9.92%
Other
15.35%
As of November 11, 2026
Top 10 Holdings
TULV
The Coca-Cola Co.
3.05%
Merck & Co., Inc.
3.02%
Johnson & Johnson
3.01%
Visa, Inc.
2.99%
Mastercard, Inc.
2.97%
General Dynamics Corp.
2.88%
Colgate-Palmolive Co.
2.87%
CME Group, Inc.
2.69%
PepsiCo, Inc.
2.65%
CenterPoint Energy, Inc.
2.62%
FDL
Chevron Corp.
8.96%
Verizon Communications, Inc.
7.32%
Pfizer Inc.
6.58%
Philip Morris International, Inc.
6.40%
PepsiCo, Inc.
5.01%
Altria Group, Inc.
4.67%
Bristol Myers Squibb Co.
3.21%
Accenture Plc
3.08%
United Parcel Service, Inc.
3.05%
Comcast Corp.
2.60%
Diversification
TULV
Total weight of top 10 holdings out of 85 total
28.77%
FDL
Total weight of top 10 holdings out of 99 total
50.88%
Characteristics
Compare
TULV
FDL
| Provider | TD Asset Management | First Trust |
| Management | Actively managed | Passively managed |
| Benchmark | - | Morningstar Dividend Leaders Total Return Index - USD |
| Replication Method | - | Other |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.03% | 3.28% |
| Meets ESG criteria | No | No |
| Inception Date | June 2, 2020 | September 29, 2016 |
Frequently asked questions about TULV and FDL
Which ETF has performed better year to date: TULV or FDL?
As of November 11, 2026, TULV has returned 18.30% year to date, while FDL has returned 22.36%. FDL is ahead on YTD performance.
Which ETF is larger by assets under management: TULV or FDL?
As of November 11, 2026, TULV manages $58.86 M in assets, while FDL manages $12.91 M. TULV is the larger fund by AUM.
How are TULV and FDL managed?
TULV is actively managed by TD Asset Management. It does not track an index. FDL is passively managed by First Trust. It tracks the Morningstar Dividend Leaders Total Return Index - USD benchmark.
What sectors do TULV and FDL emphasize?
TULV is most exposed to Consumer Non-Cyclicals, Healthcare, and Utilities. FDL is most exposed to Consumer Non-Cyclicals, Utilities, and Finance.
Which ETF is attracting more investor flows: TULV or FDL?
Year to date, TULV has seen -$12.65 M in net flows, compared with +$0.80 M for FDL. FDL has attracted more net investor money so far.
How do the fees of TULV and FDL compare?
TULV has an expense ratio of 0.34%, while FDL has an expense ratio of 0.59%.
What are the top holdings of TULV and FDL?
TULV's largest holdings include The Coca-Cola Co., Merck & Co., Inc., and Johnson & Johnson. FDL's top holdings include Chevron Corp., Verizon Communications, Inc., and Pfizer Inc..
Which ETF is more diversified: TULV or FDL?
TULV holds 83 securities, while FDL holds 98. On holdings count, FDL is the more diversified portfolio.
Recent articles about TULV and FDL
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