IGV vs FDN: returns, risk and drawdowns compared
iShares Expanded Tech-Software Sector ETF against First Trust Dow Jones Internet Index Fund, over the same 20 years (November 2006 to October 2026) with dividends reinvested.
Data updated October 2026
From November 2006 to October 2026, IGV returned 13.3% a year and FDN 13.6% a year on average, so FDN came out ahead by 0.3% a year. FDN was the more volatile of the two (21.4% against 21.4% a year), and the deepest falls from a month-end high were 46.5% for IGV and 53.1% for FDN.
The correlation of monthly returns was 0.88: they usually moved together. Over 205 rolling 3-year periods, IGV did better in 44% and FDN in 56%.
Side by side
| IGV | FDN | |
|---|---|---|
| Annual return (CAGR) | +13.3% | +13.6% |
| Total return | +1118% | +1192% |
| Annual volatility | 21.4% | 21.4% |
| Maximum drawdown (month-end) | −46.5% | −53.1% |
| Worst month | −23.0% | −22.0% |
| Best month | +21.2% | +19.6% |
| Positive months | 60% | 61% |
| Best year | 2023: +58.7% | 2009: +79.1% |
| Worst year | 2008: −38.4% | 2022: −45.5% |
| 1-year return | −6.1% | +1.8% |
| 5 years, a year | +4.4% | +3.0% |
| 10 years, a year | +17.0% | +13.5% |
| Trading currency | USD | USD |
First nine rows: the same 240 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: IGV vs FDN
Returns by calendar year
| Year | IGV | FDN |
|---|---|---|
| 2025 | +5.6% | +10.7% |
| 2024 | +23.4% | +30.3% |
| 2023 | +58.7% | +51.5% |
| 2022 | −35.7% | −45.5% |
| 2021 | +12.3% | +6.6% |
| 2020 | +52.1% | +52.5% |
| 2019 | +34.3% | +19.3% |
| 2018 | +12.3% | +6.2% |
| 2017 | +42.0% | +37.6% |
| 2016 | +5.0% | +7.0% |
| 2015 | +11.9% | +21.7% |
| 2014 | +13.1% | +2.4% |
| 2013 | +30.3% | +53.6% |
| 2012 | +16.5% | +20.6% |
| 2011 | −7.3% | −5.8% |
| 2010 | +24.6% | +36.7% |
| 2009 | +47.5% | +79.1% |
| 2008 | −38.4% | −44.0% |
| 2007 | +15.5% | +11.3% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, IGV or FDN?
From November 2006 to October 2026, IGV returned +13.3% a year and FDN +13.6% a year, with dividends reinvested. Over rolling 3-year periods IGV did better in 44% of cases. Past returns do not predict future returns.
Which is riskier, IGV or FDN?
Over the same months annual volatility was 21.4% for IGV and 21.4% for FDN; the deepest fall from a month-end high was 46.5% and 53.1%, and the worst single month −23.0% and −22.0%.
How correlated are IGV and FDN?
The correlation of their monthly returns was 0.88: they usually moved together. Combining them has historically given some diversification.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.