AZTD vs. BDVL

Last updated Aug 5, 2026

AZTD (Aztlan Global Stock Selection Dm SMID ETF) and BDVL (iShares Disciplined Volatility Equity Active ETF) are both Global Equities funds - AZTD tracks the Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross while BDVL tracks the MSCI ACWI Minimum Volatility Index. Both are passively managed. Their 0.77 correlation means they have sometimes moved together and sometimes differently. AZTD charges 0.75%/yr vs 0.40%/yr for BDVL.

Performance

AZTD vs. BDVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aztlan Global Stock Selection Dm SMID ETF (AZTD) and iShares Disciplined Volatility Equity Active ETF (BDVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AZTD achieves a 16.64% return, which is significantly higher than BDVL's 8.59% return.

AZTD

• 1D: 1.38%
• 1M: 0.44%
• 6M: 11.04%
• YTD: 16.64%
• 1Y: 20.83%
• 3Y*: 17.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.25%

BDVL

• 1D: 1.28%
• 1M: 2.45%
• 6M: 6.72%
• YTD: 8.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AZTD Aztlan Global Stock Selection Dm SMID ETF	$217.95K	$145.08K	$54.87K
BDVL iShares Disciplined Volatility Equity Active ETF	$6.14M	$6.05M	$7.27M

AZTD vs. BDVL - Yearly Performance Comparison

	2026 (YTD)	2025
AZTD Aztlan Global Stock Selection Dm SMID ETF	16.64%	0.09%
BDVL iShares Disciplined Volatility Equity Active ETF	8.59%	2.20%

Correlation

The correlation between AZTD and BDVL is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 15, 2025	0.77

AZTD vs. BDVL - Sectors Allocation Comparison

Sectors	AZTD	BDVL
Financial Services	21.5%	13.5%
Industrials	20.9%	15.9%
Consumer Cyclical	19.8%	9.2%
Technology	14.3%	26.2%
Healthcare	9.7%	10.5%
Basic Materials	4.0%	3.0%
Communication Services	3.3%	8.8%
Energy	2.5%	2.2%
Utilities	1.9%	4.5%
Consumer Defensive	1.6%	5.3%
Real Estate	-	1.1%

Return for Risk

AZTD vs. BDVL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AZTD

AZTD Risk / Return Rank: 43
AZTD Sharpe Ratio Rank: 42
AZTD Sortino Ratio Rank: 42
AZTD Omega Ratio Rank: 40
AZTD Calmar Ratio Rank: 46
AZTD Martin Ratio Rank: 47

BDVL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AZTD vs. BDVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aztlan Global Stock Selection Dm SMID ETF (AZTD) and iShares Disciplined Volatility Equity Active ETF (BDVL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AZTD	BDVL	Difference
Sharpe ratio: Return per unit of total volatility	1.20	—	—
Sortino ratio: Return per unit of downside risk	1.77	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.87	—	—
Martin ratio: Return relative to average drawdown	5.96	—	—

Drawdowns

AZTD vs. BDVL - Drawdown Comparison

The maximum AZTD drawdown since its inception was -16.75%, which is greater than BDVL's maximum drawdown of -7.71%. Use the drawdown chart below to compare losses from any high point for AZTD and BDVL.

Drawdown Indicators

	AZTD	BDVL	Difference
Max Drawdown Largest peak-to-trough decline	-16.75%	-7.71%	-9.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.75%	—	—
Current Drawdown Current decline from peak	-0.91%	0.00%	-0.91%
Average Drawdown Average peak-to-trough decline	-3.81%	-1.12%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	—	—

Volatility

Volatility by Period

	AZTD	BDVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	9.50%	+8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.44%	9.50%	+8.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.44%	9.50%	+8.94%

AZTD vs. BDVL - Expense Ratio Comparison

AZTD has a 0.75% expense ratio, which is higher than BDVL's 0.40% expense ratio.

Dividends

AZTD vs. BDVL - Dividend Comparison

AZTD's dividend yield for the trailing twelve months is around 0.90%, less than BDVL's 3.43% yield.

Position	TTM	2025	2024	2023
AZTD Aztlan Global Stock Selection Dm SMID ETF	0.90%	1.05%	1.87%	0.12%
BDVL iShares Disciplined Volatility Equity Active ETF	3.43%	2.79%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AZTD and BDVL in my portfolio?

AZTD and BDVL have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AZTD or BDVL?

On fees, BDVL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AZTD or BDVL?

BDVL is cheaper with a 0.40% expense ratio, compared with 0.75% for AZTD.

Which ETF pays a higher dividend yield, AZTD or BDVL?

BDVL has the higher dividend yield at 3.43%, compared with 0.90% for AZTD.

What is the main difference between AZTD and BDVL?

AZTD tracks Solactive Aztlan Global Developed Markets SMID Cap Index - Benchmark TR Gross, while BDVL tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: Aztlan and iShares. Their fees differ too: 0.75% for AZTD and 0.40% for BDVL.