FTHB vs MDIV: Grades, Fees and Holdings Compared

FIS Faith Income ETF

FTHBCNYSE Arca

Multi-Asset Diversified Income Index Fund

MDIVBNasdaq

Overlap

1.3%by weight

Expense ratio

FTHB −0.05pt a year

FTHB0.66%MDIV0.71%

Avg volume · 30D

MDIV 10.0×the volume

FTHB5.83KMDIV58.4K

FTHB vs MDIV Performance

Jul 31, 2026 – Nov 2, 2026

−0.7%FTHB−2.0%MDIV

Expense ratio: FTHB 0.66%, better; MDIV 0.71%
Fund size: FTHB $14M; MDIV $418M
1Y total return: FTHB No data; MDIV +11.4%
Yield (12M): FTHB No data; MDIV 7.49%
Holdings: FTHB 22; MDIV 124
Avg volume (30D): FTHB 5.83K sh; MDIV 58.4K sh, better
NAV per share: FTHB $24.55; MDIV $16.18
52W range

ETF.net Grade

Pillar letters and Scores for FTHB, MDIV, with each pillar’s weight
Pillar	FTHB	MDIV
Cost30% weight	B57Higher	C50
Mission25% weight	Not scored	A86
Risk15% weight	C54	B56Higher
Tradability15% weight	D31	A77Higher
Holdings10% weight	C52	B67Higher
Durability5% weight	D28	A83Higher

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. FTHB and MDIV are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

MDIV ranks 4th and FTHB 10th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 3AINKMState Street Income Allocation ETFScore 71
Rank 4BMDIVMulti-Asset Diversified Income Index FundScore 67
Rank 5BALTYGlobal X Alternative Income ETFScore 57
Rank 9CJFLIJPMorgan Flexible Income ETFScore 50
Rank 10CFTHBFIS Faith Income ETFScore 48
Rank 11CFTBIFirst Trust Balanced Income ETFScore 47

Our read on each fund

ETF.net Research

FTHBCFIS Faith Income ETF

MDIVBMulti-Asset Diversified Income Index Fund

In short

FTHB Faith-based investing is mostly a stock story. FTHB brings the biblical screen to core bonds: Treasuries, investment-grade corporates and securitized debt, actively picked, with a framework built alongside Grand Canyon University.

MDIV Five income sleeves in one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each reset to roughly 20% every quarter. Trading since 2012 and paying monthly, it spreads the yield hunt instead of making one big bet.

Stated mandate

FTHB The Fund seeks current income and treats long-term capital appreciation as a secondary objective.

MDIV The Fund seeks investment results that generally track the price and yield of the Nasdaq US Multi-Asset Diversified Income Index before fees and expenses.

Why people hold it

FTHB Applies the faith screen where it is rare: bonds. At least 80% of net assets go into fixed income issued by biblically aligned companies.sec.gov faithinvestorservices.com
The screening framework came out of a research collaboration with Grand Canyon University's business college, with finance and theology students doing the legwork.businesswire.com faithinvestorservices.com
Sub-advised by Asterozoa Capital Management, a credit specialist running active selection across corporate debt and securitized products rather than tracking an index.sec.gov faithinvestorservices.com

MDIV Five slices, one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each rebalanced back to about 20% each quarter.sec.gov
Each segment filters out names whose annual volatility runs more than 15 percentage points above its benchmark, so the wildest high-yielders get screened.ftportfolios.com nasdaqomx.com
Trading since 2012 and paying monthly, with about 120 holdings, it ranks as one of the stronger implementations in the multi-asset income group.

Worth knowing

FTHB Launched in 2026, and the issuer discloses that the adviser and sub-adviser have limited or no previous experience managing a registered fund.faithinvestorservices.com
0.65% a year buys the screening and the active credit work, and that fee comes out of a bond portfolio's income.
Small and lightly traded early on. The issuer notes shares can trade above or below NAV in the secondary market.faithinvestorservices.com

MDIV 0.71% net of a waiver through January 31, 2027 (0.83% gross) sits near the category median, but above peers like INCM at 0.38% and IYLD at 0.50%.
The high-yield sleeve is owned through another ETF, which may be a First Trust fund, so a slice of the cost and credit exposure sits one layer down.sec.gov
All five sleeves are income assets: preferreds, high-yield bonds, REITs and MLPs can lean the same way when rates or credit spreads move.nasdaqomx.com

Full FTHB profile⁠

Full MDIV profile⁠

FTHB vs MDIV Holdings

How FTHB and MDIV differ

Overlap by weight

1.3%

Shared holdings make up 1.9% of FTHB and 1.3% of MDIV.

Level by level

Holdings1 in both1.3%
Countryby domicile99.2%

Sector

No Sector split for FTHB.

Country, concentration and asset class

Country by domicile

Country weights in FTHB and MDIV, widest gap first
Country	More in FTHBMore in MDIV	FTHB	MDIV
United States	FTHB +0.8 points	100.0%	99.2%
Canada	MDIV +0.8 points	0.0%	0.8%
Greece	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

FTHB69.5%
MDIV32.1%

Securities held

FTHB21
MDIV123

Asset class

FTHB: Equity
MDIV: Multi-Asset

Holdings

Only in FTHB20
In both1
Only in MDIV122

Only in FTHB

20 securities, 97.7% of FTHB by weight

United States Treasury Note/Bond 5.125% 08/15/205619.94%
United States Treasury Note/Bond 3.875% 04/30/203116.04%
Chevron USA Inc 4.687% 04/15/20304.54%
Apple Inc 4.75% 05/12/20354.46%
Morgan Stanley 4.493% 01/16/20324.39%
Nissan Motor Acceptance Co LLC 6.125% 09/30/20304.35%
Walmart Inc 4.9% 04/28/20353.97%
Coca-Cola Co/The 4.65% 08/14/20343.96%
Alphabet Inc 5.35% 11/15/20453.94%
Simplify MBS ETF3.87%
Amazon.com Inc 4.05% 08/22/20473.85%
United States Treasury Note/Bond 4.125% 02/15/20363.60%
Microsoft Corp 3.5% 02/12/20353.59%
Swiss RE Subordinated Finance PLC 5.698% 04/05/20353.21%
Broadcom Inc 4.8% 02/15/20363.20%
Rithm Capital Corp 6.375% 11/16/21743.19%
Western Alliance Bancorp 6.2299% 06/15/20312.60%
MFA Financial Inc 8.875% 02/15/20292.49%
MFA Financial Inc1.72%
First American Treasury Obligations Fund 01/01/20400.77%

Only in MDIV

122 securities, 98.4% of MDIV by weight

First Trust Tactical High Yield ETF20.34%
Kimbell Royalty Partners LP1.38%
Mach Natural Resources LP1.37%
AGNC Investment Corp.1.34%
Annaly Capital Management, Inc.1.32%
ARMOUR Residential REIT, Inc.1.28%
TXO Partners, L.P.1.27%
Icahn Enterprises, L.P.1.27%
Rithm Capital Corp., Series B, Variable Rate1.23%
Dorchester Minerals, L.P.1.17%
Alliance Resource Partners, L.P.1.12%
Western Midstream Partners LP1.12%
CrossAmerica Partners LP1.10%
Citigroup Capital XIII, Variable Rate, due 10/30/20400.99%
Black Stone Minerals, L.P.0.96%
Apple Hospitality REIT, Inc.0.95%
Gaming and Leisure Properties, Inc.0.92%
VICI Properties Inc.0.91%
AGNC Investment Corp., Series C, 7.000%, Variable Rate0.90%
Delek Logistics Partners LP0.90%
AGNC Investment Corp., Series E, 6.500% Variable Rate0.89%
USA Compression Partners LP0.89%
Rithm Capital Corp., Series D, Variable Rate0.88%
Annaly Capital Management, Inc., Series F, 6.950%, Variable Rate0.88%
Mplx Lp0.87%
AGNC Investment Corp., Series F, 6.125% Variable Rate0.87%
Lincoln National Corporation, Series D, 9.000%0.85%
Annaly Capital Management, Inc., Series G, 6.500% Variable Rate0.82%
Plains All American Pipeline, L.P.0.81%
EPR Properties0.81%
Synchrony Financial, Series B Variable Rate0.80%
Fifth Third Bancorp, Series I, 6.625%, Variable Rate0.79%
Algonquin Power & Utilities Corp., Series 19-A, 6.200%, Variable Rate, Due 07/01/20790.79%
Four Corners Property Trust, Inc.0.78%
Jackson Financial Inc., 8.000%, Variable Rate0.78%
Banc of California, Inc., Series F, 7.75% Variable Rate0.78%
Omega Healthcare Investors, Inc.0.77%
CubeSmart0.77%
Energy Transfer LP0.76%
CHS Inc., Series 1, 7.875%0.75%
American National Group Inc., Series D, 7.375%0.74%
Apollo Global Management, Inc., 7.625%, Variable Rate, Due 09/15/20530.73%
Plains GP Holdings, L.P. (Class A)0.73%
The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/20530.73%
Pfizer Inc.0.72%
Hess Midstream LP (Class A)0.72%
CHS Inc., Series 4, 7.500%0.71%
Reinsurance Group of America, Incorporated, 7.125%, Variable Rate, Due 10/15/20520.70%
Morgan Stanley, Series E, 7.125%, Variable Rate0.70%
Altria Group, Inc.0.69%

Weight gaps

All 1 Holdings in both funds, largest gap first.

Holding weights in FTHB and MDIV, widest gap first
Holding	More in FTHBMore in MDIV	FTHB	MDIV
Rithm Capital CorpRITM	FTHB +0.60 points	1.92%	1.32%

All FTHB holdings⁠All 123 MDIV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FTHB vs MDIV Cost

Overpaying MDIV vs FTHB

$886

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FTHB 0.66%
$12,896
MDIV 0.71%
$13,782

Amount$10,000

Years30 years

Cost over time

FTHB 0.66%
MDIV 0.71%
Overpaying

Year by year

Year	FTHB	MDIV	Overpaying
10	$1,180	$1,267	$87
20	$4,504	$4,824	$320
30	$12,896	$13,782	$886

Expense ratio

0.66%FTHB, cheaper
0.71%MDIV

FTHB0.66%MDIV0.71%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

FTHB 7th cheapest of 15 funds

MDIV 8th cheapest of 15 funds

FTHB vs MDIV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): FTHB No data; MDIV 7.49%
Payout (12M): FTHB No data; MDIV $1.21
Last payment: FTHB $0.12; MDIV $0.08
Ex-dividend: FTHB Oct 30, 2026; MDIV Oct 21, 2026
Paid on: FTHB Pays Nov 3, 2026; MDIV Oct 30, 2026
Frequency: FTHB Monthly; MDIV Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

FTHBMonthly · 8 paymentsAll FTHB payments⁠

MDIVMonthly · 46 paymentsAll MDIV payments⁠

FTHB vs MDIV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FTHB No dataMDIV 8.5%
Return per unit of riskSharpe ratio, 3 years: FTHB No dataMDIV 0.82
Worst fallMax drawdown, 5 years: FTHB No dataMDIV −13.1%
Market sensitivityBeta, 5 years: FTHB 0.11MDIV 0.69; Market = 1

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