Market dataIncome framework read
ETFs and Income FundsNYSEUnited States

FDL

First Trust Morningstar Dividend Leaders Index Fund

Multi-Sector (ETF / Fund)ETF basketMonthly

Market Snapshot

US$49.56

+US$0.59 (1.20%)

NYSEArca

Yield

N/A

Rate US$1.83

Next Payment

Next pay N/A

Ex-date N/A

52wk Position

80.89%

-3.69% below high

Updated just now

Income Intelligence Summary

Deterministic interpretation from Prospyr's income framework and available market data.

Framework readout
1

Income reliability

Derived from payout history

Quarterly income profile is visible

FDL has an income profile aligned with its etfs and income funds role. Provider data shows 4 recent payout records.

2

DRIP defense

Editorial framework

Default DRIP test is not defended

FDL does not cover one full share per payment at the default 100-share test. Coverage is 0.81.

3

Main watch item

Editorial framework

Withholding and account placement matter

FDL is U.S.-listed, so Canadian investors should compare RRSP, TFSA, and non-registered tax treatment before using the provider yield as spendable income.

Decision Area

Distribution and DRIP Defense

Payout history, default DRIP coverage, and price creep pressure using market data where available.

Distribution Chart

Last 12 payments

Confirmed Expected

Coverage Ratio Test

DRIP defense check

Failed
Cash
US$40.10
APR
0.809
Coverage
0.809

Rung failed. Restore immediately or rebalance the holding.

Price Creep

Defended price ceiling

Max defended
US$40.10
Cushion
-US$9.46
Cushion %
-19.09%
Current US$49.56Break US$40.10

Smart Recommendation

FDL is not defended at these inputs; top up shares, lower TPR, or test alternatives.

Research Signals

Research in progress

DRIP availability

Plan-only

Tax character

Mixed

Distribution history

Monthly distributions, established payout history

Structure Overview

This is a basket product—an exchange-traded fund or closed-end fund—that holds a portfolio of underlying securities and passes distributions to unitholders. Tax character depends on what the underlying portfolio holds; Canadian equity ETFs may distribute eligible dividends, while multi-asset funds may pass through foreign income or return of capital. MER, payout policy, and underlying composition should be reviewed with the fund provider.

Canadian Planning Notes

  • 1ETF distributions may include eligible dividends, foreign income, capital gains, or return of capital; check the annual T3 slip for the actual breakdown.
  • 2DRIP availability for ETFs depends on your broker's plan; not all ETF units qualify for automatic reinvestment at every institution.
  • 3Compare the ETF's stated yield against total return over rolling periods before treating the stated distribution as sustainable income.

Market Facts

Market Data

A factual market, distribution, valuation, and financial snapshot for this holding.

Market Data

Market data

Updated facts where available

Price

US$49.56

Previous close

US$48.97

Day range

US$49.11 - US$49.61

52wk range

US$41.52 - US$51.46

Market cap

N/A

Volume

1.2M

Avg volume

874.1K

Exchange

NYSEArca

Dividend and distribution

Forward rate

N/A

Trailing rate

US$1.83

Forward yield

N/A

Trailing yield

N/A

Per payment

US$0.40

Cadence

Quarterly

Next ex-date

N/A

Next pay

N/A

Last dividend

US$0.40

Last dividend date

Mar 26, 2026

Performance

Daily change

US$0.59

Daily change %

1.20%

52wk position

80.89%

Below 52wk high

-3.69%

Above 52wk low

19.36%

Open

US$49.24

Earnings and financials

Trailing EPS

N/A

Forward EPS

N/A

Revenue

N/A

Revenue growth

N/A

Profit margin

N/A

Operating margin

N/A

Payout ratio

N/A

Free cash flow

N/A

Total cash

N/A

ROE

N/A

ROA

N/A

Debt/equity

N/A

Beta

N/A

Valuation

Trailing P/E

15.93

Forward P/E

N/A

Price/sales

N/A

Price/book

N/A

Enterprise value

N/A

EV/EBITDA

N/A

Analyst facts

Target mean

N/A

Target high

N/A

Target low

N/A

Recommendation mean

N/A

Recommendation key

N/A

Analysts

N/A

Canadian Context

Account placement

TFSA

Mixed-character distributions are usually easiest to handle in a TFSA because annual tax reporting is avoided.

RRSP: Also shelters distribution complexity.

Non-registered: Review T3 or issuer tax breakdown before using a taxable account.

Eligible dividend tax credit

Total credit
$345.27
Effective rate
34.53%

Broker DRIP status

Questrade

Plan-only

Wealthsimple

Plan-only

RBC Direct Investing

Plan-only

TD Direct Investing

Plan-only

U.S.-listed holdings can have withholding tax differences by account type. RRSP treatment is often more favorable than TFSA treatment.

Run Your Numbers

Carry this holding into a calculator

Use a planning tool that matches this holding's structure, payout timing, and income use case.

Map income timingTest DRIP durability

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This profile is informational only and does not constitute licensed financial advice. Signal values, planning notes, market data, and structure summaries may not reflect the most current issuer disclosures. Always verify current payout policy, ex-dividend dates, financial statements, and issuer communications before making any investment decision.