BDVL vs. CAPE

Last updated Aug 2, 2026

BDVL (iShares Disciplined Volatility Equity Active ETF) and CAPE (DoubleLine Shiller CAPE U.S. Equities ETF) are both exchange-traded funds - BDVL is a Global Equities fund tracking the MSCI ACWI Minimum Volatility Index, while CAPE is a Large Cap Value Equities fund actively managed by DoubleLine. BDVL is passively managed, while CAPE is actively managed. Their 0.63 correlation means they have sometimes moved together and sometimes differently. BDVL charges 0.40%/yr vs 0.65%/yr for CAPE.

Performance

BDVL vs. CAPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Disciplined Volatility Equity Active ETF (BDVL) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDVL achieves a 6.70% return, which is significantly higher than CAPE's 2.29% return.

BDVL

• 1D: 0.14%
• 1M: 0.66%
• 6M: 4.88%
• YTD: 6.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CAPE

• 1D: 0.00%
• 1M: -0.57%
• 6M: 0.07%
• YTD: 2.29%
• 1Y: 6.18%
• 3Y*: 10.41%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.75%

*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)
BDVL iShares Disciplined Volatility Equity Active ETF	$4.62M	$5.40M	$7.08M
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	$508.60K	$475.70K	$946.02K

BDVL vs. CAPE - Yearly Performance Comparison

	2026 (YTD)	2025
BDVL iShares Disciplined Volatility Equity Active ETF	6.70%	2.20%
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	2.29%	-0.95%

Correlation

The correlation between BDVL and CAPE is 0.63, 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	0.63

BDVL vs. CAPE - Sectors Allocation Comparison

Sectors	BDVL	CAPE
Technology	26.2%	0.4%
Industrials	15.9%	0.1%
Financial Services	13.5%	24.6%
Healthcare	10.5%	23.6%
Consumer Cyclical	9.2%	0.2%
Communication Services	8.8%	25.2%
Consumer Defensive	5.3%	24.6%
Utilities	4.5%	-
Basic Materials	3.0%	0.3%
Energy	2.2%	-
Real Estate	1.1%	24.8%

Return for Risk

BDVL vs. CAPE — Risk / Return Rank

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

BDVL

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

CAPE

CAPE Risk / Return Rank: 23
CAPE Sharpe Ratio Rank: 22
CAPE Sortino Ratio Rank: 22
CAPE Omega Ratio Rank: 21
CAPE Calmar Ratio Rank: 21
CAPE Martin Ratio Rank: 26

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.

BDVL vs. CAPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Disciplined Volatility Equity Active ETF (BDVL) and DoubleLine Shiller CAPE U.S. Equities ETF (CAPE). 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.

	BDVL	CAPE	Difference
Sharpe ratio: Return per unit of total volatility	—	0.49	—
Sortino ratio: Return per unit of downside risk	—	0.79	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.58	—
Martin ratio: Return relative to average drawdown	—	2.06	—

Drawdowns

BDVL vs. CAPE - Drawdown Comparison

The maximum BDVL drawdown since its inception was -7.71%, smaller than the maximum CAPE drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for BDVL and CAPE.

Drawdown Indicators

	BDVL	CAPE	Difference
Max Drawdown Largest peak-to-trough decline	-7.71%	-22.07%	+14.36%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.68%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.32%	—
Current Drawdown Current decline from peak	0.00%	-1.27%	+1.27%
Average Drawdown Average peak-to-trough decline	-1.13%	-4.81%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.74%	—

Volatility

Volatility by Period

	BDVL	CAPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.44%	11.58%	-2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.44%	16.85%	-7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.44%	16.85%	-7.41%

BDVL vs. CAPE - Expense Ratio Comparison

BDVL has a 0.40% expense ratio, which is lower than CAPE's 0.65% expense ratio.

Dividends

BDVL vs. CAPE - Dividend Comparison

BDVL's dividend yield for the trailing twelve months is around 3.49%, more than CAPE's 1.37% yield.

Position	TTM	2025	2024	2023	2022
BDVL iShares Disciplined Volatility Equity Active ETF	3.49%	2.79%	0.00%	0.00%	0.00%
CAPE DoubleLine Shiller CAPE U.S. Equities ETF	1.37%	1.39%	1.23%	1.01%	0.80%

Frequently Asked Questions

Can I hold both BDVL and CAPE in my portfolio?

BDVL and CAPE have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BDVL or CAPE?

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, BDVL or CAPE?

BDVL is cheaper with a 0.40% expense ratio, compared with 0.65% for CAPE.

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

BDVL has the higher dividend yield at 3.49%, compared with 1.37% for CAPE.

What is the main difference between BDVL and CAPE?

BDVL is categorized as Global Equities, while CAPE is Large Cap Value Equities. They also come from different issuers: iShares and DoubleLine. Their fees differ too: 0.40% for BDVL and 0.65% for CAPE.