- Issuer
- First Trust
- Inception Date
- Sep 5, 2018
- Region
- North America (U.S.)
- Category
- Momentum, Volatility Hedged Equity
- Leveraged
- 1x (No leverage)
- Index Tracked
- Dorsey Wright Momentum Plus Low Volatility Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $71M
Share Price Chart
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Performance
DVOL Performance Chart
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is up 4.0% since the beginning of the year. DVOL is currently trading at $36 per share. Investors who bought $1,000 worth of DVOL shares 5 years ago would now be looking at an investment worth $1,428.
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Returns By Period
First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) has returned 4.02% so far this year and 5.75% over the past 12 months.
First Trust Dorsey Wright Momentum & Low Volatility ETF
- 1D
- 0.64%
- 1M
- -0.45%
- YTD
- 4.02%
- 6M
- 2.85%
- 1Y
- 5.75%
- 3Y*
- 13.11%
- 5Y*
- 7.39%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
DVOL Monthly Returns History
Based on dividend-adjusted daily data since Sep 7, 2018, DVOL's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, an investment would double in approximately 7.0 years.
Historically, 60% of months were positive and 40% were negative. The best month was Oct 2022 with a return of +8.9%, while the worst month was Mar 2020 at -15.2%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, DVOL closed higher 55% of trading days. The best single day was Mar 24, 2020 with a return of +8.3%, while the worst single day was Mar 16, 2020 at -10.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.19% | 2.38% | -5.60% | 7.11% | -3.53% | 1.92% | 4.02% | ||||||
| 2025 | 3.98% | 3.07% | -1.87% | -1.70% | 1.69% | -1.02% | -2.02% | 1.80% | 1.41% | -2.57% | 2.10% | -0.38% | 4.30% |
| 2024 | 2.54% | 5.43% | 3.61% | -4.26% | 3.44% | 0.16% | 4.09% | 4.38% | 0.87% | 2.08% | 7.80% | -6.84% | 24.84% |
| 2023 | 0.50% | -2.24% | -0.65% | 1.56% | -4.57% | 6.97% | -0.67% | -1.07% | -3.68% | -0.27% | 7.83% | 2.31% | 5.39% |
| 2022 | -11.30% | -3.95% | 5.99% | -4.68% | -3.84% | -3.98% | 5.78% | -2.01% | -7.71% | 8.93% | 4.43% | -3.00% | -16.10% |
| 2021 | -2.72% | 0.40% | 3.14% | 7.63% | 0.77% | 1.54% | 5.23% | 3.51% | -6.88% | 8.30% | -0.41% | 7.18% | 30.08% |
Benchmark Metrics
First Trust Dorsey Wright Momentum & Low Volatility ETF has an annualized alpha of 0.04%, beta of 0.72, and R2 of 0.65 versus S&P 500 Index. Calculated based on daily prices since September 07, 2018.
- This ETF participated in 74.56% of S&P 500 Index downside but only 65.02% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 0.04%
- Beta
- 0.72
- R²
- 0.65
- Upside Capture
- 65.02%
- Downside Capture
- 74.56%
Expense Ratio
DVOL has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DVOL ranks 16 for risk / return — in the bottom 16% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DVOL | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.37 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.59 | 2.78 | -2.20 |
| Martin ratioReturn relative to average drawdown | 2.04 | 12.44 | -10.40 |
Dividends
Dividend History
First Trust Dorsey Wright Momentum & Low Volatility ETF provided a 0.67% dividend yield over the last twelve months, with an annual payout of $0.24 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.24 | $0.30 | $0.23 | $0.35 | $0.36 | $0.15 | $0.15 | $0.40 | $0.07 |
Dividend yield | 0.67% | 0.86% | 0.67% | 1.28% | 1.37% | 0.47% | 0.60% | 1.79% | 0.39% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Dorsey Wright Momentum & Low Volatility ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.00 | $0.03 | ||||||
| 2025 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.10 | $0.30 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.11 | $0.23 |
| 2023 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.13 | $0.35 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.14 | $0.36 |
| 2021 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.07 | $0.15 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Dorsey Wright Momentum & Low Volatility ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Dorsey Wright Momentum & Low Volatility ETF was 38.26%, occurring on Mar 23, 2020. Recovery took 187 trading sessions.
The current First Trust Dorsey Wright Momentum & Low Volatility ETF drawdown is 2.60%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -38.26%Mar 2020 | 1mo 3d | 8mo 28d | 10mo 1dFeb 2020 - Dec 2020 |
Bear market2022 | -24.65%Jun 2022 | 5mo 15d | 2y 26d | 2y 6moJan 2022 - Jul 2024 |
Rate-hike selloffLate 2018 | -13.88%Dec 2018 | 3mo 8d | 2mo 11d | 5mo 19dSep 2018 - Mar 2019 |
2025 selloff2025 | -11.66%Apr 2025 | 4mo 7d | 9mo 12d | 1y 1moDec 2024 - Jan 2026 |
2026 pullback2026 | -9.82%Mar 2026 | 1mo 18d | — | 4mo 13dFeb 2026 - now |
Drawdown Indicators
| DVOL | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -56.78% | +18.52% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -9.10% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -11.66% | -18.90% | +7.24% |
Max Drawdown (5Y)Largest decline over 5 years | -24.65% | -25.43% | +0.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.60% | -1.80% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -7.15% | -10.71% | +3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.03% | +0.79% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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