CAPE vs FDIV
DoubleLine Shiller CAPE US Equities ETF vs MarketDesk Focused US Dividend ETF
Which is better, CAPE or FDIV?
Each has led over a different period.
FDIV has a lower expense ratio. CAPE led over 3Y and the full window, FDIV over 1Y. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 33.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAPE | FDIV |
|---|---|---|
| Expense Ratio | 0.65% | 0.35%Best |
| AUM | $209M | $53M |
| Dividend Yield | 1.46% | 2.61% |
| Holdings | 182 | 224 |
| YTD Return | +0.19%Best | -0.05% |
| 1Y Return | +0.83% | +2.12%Best |
| 3Y Return (annualized) | +11.60%Best | +6.26% |
| Volatility (annualized) | 12.8%Tie | 12.8%Tie |
| Max Drawdown | -14.3%Best | -18.6% |
| $10,000 over 3.1 years | $13,612Best | $11,722 |
| Top 10 Weight | 29.0%Best | 33.0% |
| Fund Family | DoubleLine Funds | MarketDesk Indices |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 31, 2022 | Sep 19, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Sep 20, 2023 to Oct 14, 2026 (3.1 years).
CAPE vs FDIV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.1 years both funds cover.
CAPE vs FDIV Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and MarketDesk Focused US Dividend ETF (FDIV) is an ETF from MarketDesk Indices. Over the past year CAPE returned +0.83% while FDIV returned +2.12%. Year to date, CAPE is up 0.19% versus a loss of 0.05% for FDIV.
Over three years, CAPE compounded at +11.60% per year against +6.26% for FDIV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CAPE and FDIV have been equally volatile, both at 12.8% annualized.
The deepest peak-to-trough decline in our data was -14.3% for CAPE and -18.6% for FDIV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CAPE charges 0.65% per year while FDIV charges 0.35%. On a $10,000 position that is $65 vs $35 annually, a gap of $30 per year that compounds over a long holding period. On income, CAPE currently yields 1.46% against 2.61% for FDIV.
Holdings Overlap
10.2% of CAPE's money is in holdings FDIV also owns. 13.1% of FDIV's money is in holdings CAPE also owns.
FDIV and CAPE share little of their money.
15 positions in common, counted across the 170 positions we hold weights for in CAPE and 111 in FDIV, against full books of 182 and 224.
What only one of them owns
Our book lists 91 positions for FDIV that do not appear in our book for CAPE (84.9% of the fund), and 150 for CAPE that do not appear in FDIV (85.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in CAPE | Weight in FDIV | Difference |
|---|---|---|---|
| KOCoca Cola Co. | 1.84% | 2.93% | 1.09% |
| PGProcter & Gamble Company | 1.81% | 2.94% | 1.13% |
| HDHome Depot Inc | 1.35% | 2.64% | 1.29% |
| TJXTjx Companies Inc | 0.86% | 1.37% | 0.51% |
| ROSTRoss Stores Inc | 0.46% | 0.67% | 0.21% |
| KDPKeurig Dr Pepper Inc | 0.70% | 0.37% | 0.33% |
| DOWDow Inc | 0.75% | 0.19% | 0.56% |
| KMBKimberly Clark Corp | 0.58% | 0.29% | 0.29% |
| KVUEKenvue Inc | 0.58% | 0.28% | 0.30% |
| GRMNGarmin Ltd Common Stock | 0.29% | 0.43% | 0.14% |
You are not choosing between two funds in isolation.
Whichever of CAPE and FDIV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or FDIV?
CAPE has an expense ratio of 0.65% while FDIV charges 0.35%. FDIV is the cheaper option, by $30 a year on a $10,000 investment.
Which performed better, CAPE or FDIV?
Over the past year CAPE returned +0.83% vs +2.12% for FDIV, so FDIV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or FDIV?
CAPE and FDIV have been equally volatile, both at 12.8% annualized. Worst drawdown: CAPE -14.3% vs FDIV -18.6%.
Should I hold both CAPE and FDIV?
CAPE and FDIV have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CAPE and FDIV?
13.1% of FDIV's money is in holdings CAPE also owns. 13.1% of FDIV's is in holdings CAPE also owns. They hold 15 positions in common, counted across the 170 positions we hold weights for in CAPE and 111 in FDIV.
Which pays a higher dividend, CAPE or FDIV?
CAPE yields 1.46% while FDIV yields 2.61%, so FDIV currently pays the higher dividend yield.
Is FDIV better than CAPE?
FDIV has a lower expense ratio. CAPE led over 3Y and the full window, FDIV over 1Y. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 33.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.