AZTD vs. GVAL

Last updated Jun 26, 2026

AZTD (Aztlan Global Stock Selection Dm SMID ETF) and GVAL (Cambria Global Value ETF) are both Global Equities funds. AZTD is passively managed, while GVAL is actively managed. Over the past 3 years, AZTD returned 17.36%/yr vs 26.70%/yr for GVAL. A 0.63 correlation means they provide meaningful diversification when combined. AZTD charges 0.75%/yr vs 0.64%/yr for GVAL.

Performance

AZTD vs. GVAL - Performance Comparison

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

Returns By Period

In the year-to-date period, AZTD achieves a 14.72% return, which is significantly lower than GVAL's 15.66% return.

AZTD

• 1D: 0.95%
• 1M: 1.30%
• YTD: 14.72%
• 6M: 12.64%
• 1Y: 24.63%
• 3Y*: 17.36%
• 5Y*: —
• 10Y*: —

GVAL

• 1D: -0.25%
• 1M: 1.41%
• YTD: 15.66%
• 6M: 15.12%
• 1Y: 38.99%
• 3Y*: 26.70%
• 5Y*: 13.89%
• 10Y*: 11.67%

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

AZTD vs. GVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
AZTD Aztlan Global Stock Selection Dm SMID ETF	14.72%	25.46%	6.87%	10.34%	-1.79%
GVAL Cambria Global Value ETF	15.66%	55.87%	2.59%	13.30%	8.60%

Correlation

The correlation between AZTD and GVAL is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Aug 18, 2022	0.63

The correlation between AZTD and GVAL has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.

AZTD vs. GVAL - Sectors Allocation Comparison

Sectors	AZTD	GVAL
Consumer Cyclical	21.1%	2.7%
Technology	20.7%	9.4%
Industrials	17.9%	3.6%
Financial Services	14.6%	16.9%
Healthcare	8.8%	-
Energy	5.8%	6.8%
Consumer Defensive	4.0%	1.8%
Communication Services	3.9%	4.3%
Basic Materials	3.6%	7.7%
Utilities	3.6%	3.7%
Real Estate	-	6.2%

Return for Risk

AZTD vs. GVAL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AZTD

AZTD Risk / Return Rank: 45
AZTD Sharpe Ratio Rank: 44
AZTD Sortino Ratio Rank: 44
AZTD Omega Ratio Rank: 41
AZTD Calmar Ratio Rank: 50
AZTD Martin Ratio Rank: 47

GVAL

GVAL Risk / Return Rank: 83
GVAL Sharpe Ratio Rank: 88
GVAL Sortino Ratio Rank: 86
GVAL Omega Ratio Rank: 86
GVAL Calmar Ratio Rank: 76
GVAL Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AZTD vs. GVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aztlan Global Stock Selection Dm SMID ETF (AZTD) and Cambria Global Value ETF (GVAL). 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	GVAL	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.52	-1.12
Sortino ratio: Return per unit of downside risk	2.03	3.37	-1.34
Omega ratio: Gain probability vs. loss probability	1.25	1.45	-0.20
Calmar ratio: Return relative to maximum drawdown	2.21	3.41	-1.19
Martin ratio: Return relative to average drawdown	7.18	12.90	-5.72

AZTD vs. GVAL - Sharpe Ratio Comparison

The current AZTD Sharpe Ratio is 1.40, which is lower than the GVAL Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of AZTD and GVAL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AZTD vs. GVAL - Drawdown Comparison

The maximum AZTD drawdown since its inception was -16.75%, smaller than the maximum GVAL drawdown of -46.82%. Use the drawdown chart below to compare losses from any high point for AZTD and GVAL.

Drawdown Indicators

	AZTD	GVAL	Difference
Max Drawdown Largest peak-to-trough decline	-16.75%	-46.82%	+30.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.19%	-11.50%	+0.31%
Max Drawdown (3Y) Largest decline over 3 years	-16.75%	-15.72%	-1.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.82%	—
Current Drawdown Current decline from peak	-1.20%	-3.75%	+2.55%
Average Drawdown Average peak-to-trough decline	-3.86%	-13.82%	+9.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	3.03%	+0.41%

Volatility

AZTD vs. GVAL - Volatility Comparison

The current volatility for Aztlan Global Stock Selection Dm SMID ETF (AZTD) is 4.77%, while Cambria Global Value ETF (GVAL) has a volatility of 6.42%. This indicates that AZTD experiences smaller price fluctuations and is considered to be less risky than GVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AZTD	GVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.77%	6.42%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	13.83%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.68%	15.53%	+2.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.55%	18.60%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.55%	19.00%	-0.45%

AZTD vs. GVAL - Expense Ratio Comparison

AZTD has a 0.75% expense ratio, which is higher than GVAL's 0.64% expense ratio.

Dividends

AZTD vs. GVAL - Dividend Comparison

AZTD's dividend yield for the trailing twelve months is around 0.92%, less than GVAL's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AZTD Aztlan Global Stock Selection Dm SMID ETF	0.92%	1.05%	1.87%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GVAL Cambria Global Value ETF	2.47%	2.93%	4.75%	6.12%	5.05%	2.97%	1.90%	2.84%	4.65%	2.00%	2.54%	2.11%

Frequently Asked Questions

Can I hold both AZTD and GVAL in my portfolio?

AZTD and GVAL have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AZTD or GVAL?

GVAL has higher volatility (6.42%) compared to AZTD (4.77%). In terms of maximum drawdown, AZTD dropped -16.75% vs GVAL's -46.82%.

Which ETF is better, AZTD or GVAL?

On 3-year performance, GVAL leads with 26.70% vs 17.36% for AZTD. On fees, GVAL is cheaper at 0.64% per year. On volatility, AZTD has been the lower-risk option at 4.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AZTD or GVAL?

Over the 3-year period, GVAL has performed better with a 26.70% return vs 17.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AZTD or GVAL?

GVAL is cheaper with a 0.64% expense ratio, compared with 0.75% for AZTD.

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

GVAL has the higher dividend yield at 2.47%, compared with 0.92% for AZTD.

What is the main difference between AZTD and GVAL?

They also come from different issuers: Aztlan and Cambria. Their fees differ too: 0.75% for AZTD and 0.64% for GVAL.

Which has better risk-adjusted returns?

GVAL currently has the higher Sharpe Ratio (2.52 vs 1.40), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.