FDL vs SPYD: Holdings Overlap
FDLFirst Trust Morningstar Dividend Leaders Index Fund
First Trust · 86 holdings · $7.8B · as of 2026-03-31
SPYDState Street® SPDR® Portfolio S&P 500® High Dividend ETF
State Street (SPDR) · 80 holdings · $7.7B · as of 2026-08-06
Holdings snapshots are 128 days apart (FDL: 2026-03-31, SPYD: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FDL and SPYD?
First Trust Morningstar Dividend Leaders Index Fund (FDL, by First Trust) holds 86 positions; State Street® SPDR® Portfolio S&P 500® High Dividend ETF (SPYD, by State Street (SPDR)) holds 80. They have 41 holdings in common, and by portfolio weight the two funds are 32.8% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 32.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 41FDL holds 86 · SPYD holds 80
- Weight in Shared Holdings
- FDL 67%·SPYD 51%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FDL
45 of 86 positions (33.0% of the fund) are not held by SPYD. Showing the top 30 by weight.
Only in SPYD
39 of 80 positions (48.7% of the fund) are not held by FDL. Showing the top 30 by weight.
Sector Breakdown
| Sector | FDL | SPYD |
|---|---|---|
| Energy | 28.9% | 4.8% |
| Real Estate | 0.0% | 24.3% |
| Health Care | 17.2% | 3.9% |
| Consumer Staples | 14.1% | 15.0% |
| Financials | 13.8% | 14.0% |
| Other Sectors | 25.9% | 37.5% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FDL | +3.6% | +19.1% | +27.6% | +18.9% | +14.1% | +11.1% | 3.56% |
| SPYD | +2.8% | +17.9% | +21.3% | +14.3% | +9.3% | +8.7% | 4.07% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FDL vs SPYD →
Shared Holdings(41)
The top 10 shared positions account for 39% of the overlap, led by CMCSA, TGT and VZ.
 CMCSAComcast Corporation CL A | 2.82% | 1.32% | 1.32% |
|---|---|---|---|
 TGTTarget Corp. COM | 1.33% | 1.32% | 1.32% |
 VZVerizon Communications Inc. COM | 7.36% | 1.31% | 1.31% |
 BMYBristol-Myers Squibb Company COM | 3.26% | 1.31% | 1.31% |
 PFEPfizer Inc. COM | 6.48% | 1.31% | 1.31% |
 PRUPrudential Financial, Inc. COM | 1.27% | 1.26% | 1.26% |
 PEPPepsico Inc COM | 4.76% | 1.26% | 1.26% |
 TFCTruist Financial Corp. COM | 1.64% | 1.26% | 1.26% |
 USBU.S. Bancorp. COM NEW | 2.05% | 1.22% | 1.22% |
 CVXChevron Corp. COM | 9.12% | 1.21% | 1.21% |
 KMIKinder Morgan, Inc. COM | 1.47% | 1.19% | 1.19% |
 OKEOneok Inc. COM | 1.77% | 1.18% | 1.18% |
 FFord Motor Company COM | 1.42% | 1.18% | 1.18% |
 EOGEOG Resources Inc. COM | 1.55% | 1.17% | 1.17% |
 MOAltria Group, Inc. COM | 4.45% | 1.16% | 1.16% |
 UPSUnited Parcel Service, Inc., Class B | 3.03% | 1.10% | 1.10% |
 EXCExelon Corp. COM | 1.02% | 1.20% | 1.02% |
 EIXEdison International COM | 0.88% | 1.03% | 0.88% |
 KHCThe Kraft Heinz Co. COM | 0.81% | 1.19% | 0.81% |
 HBANHuntington Bancshares Incorporated COM | 0.76% | 1.17% | 0.76% |
 HPQHP Inc COM | 0.73% | 1.39% | 0.73% |
 GISGeneral Mills, Inc. COM | 0.71% | 1.21% | 0.71% |
 AMCRAmcor PLC COM NEW | 0.71% | 1.35% | 0.71% |
 TROWPrice T Rowe Group Inc. COM | 0.70% | 1.21% | 0.70% |
 ESEversource Energy COM | 0.67% | 1.20% | 0.67% |
Frequently Asked Questions
How much do FDL and SPYD overlap?
FDL and SPYD overlap by 32.8% of portfolio weight. They share 41 holdings (FDL holds 86 positions and SPYD holds 80), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FDL and SPYD?
The two portfolios are 32.8% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of FDL and SPYD?
The largest positions held by both funds are CMCSA, TGT, VZ, BMY and PFE. Together the top 10 shared positions account for 39% of the total overlap.
What does FDL own that SPYD doesn't?
45 positions (33.0% of FDL) are unique to FDL, led by XOM, MRK and COP. In the other direction, 39 positions (48.7% of SPYD) are unique to SPYD.