A dozer works just fine, if the excavated material is going to remain in the vicinity and you are doing a pond with somewhat sloped banks. My dad had a one acre pond done in a one weeks time by a single guy on a big dozer. The materiel was moved to a step nearby hill and lessened the slope.
A dozer is not the tool for digging a square hole.
A dozer will not get the material in a truck to haul away.
I'd never try and use a FEL for that.
When the time comes to fully dredge my pond, we will drain it, dry it and use a dozer then a large excavator to fill dump trucks to move the material 1,000 feet away. At least that is the current plan. Last fall, I (with the help of gracious neighbors) dredged out an area (about a 100' circle, 3' deep) where silt from the stream that fills the pond had built up. We used a mini excavator and a dump trailed pulled by a tractor. It took ~60 loads at ~four yards a load and two days. I used my FEL six months later to level out all the dump loads. It excelled at that job.