BVAL vs. UPSD

Last updated Jul 15, 2026

BVAL (Bluemonte Large Cap Value ETF) and UPSD (Aptus Large Cap Upside ETF) are both exchange-traded funds - BVAL is a Large Cap Value Equities fund managed by Bluemonte, while UPSD is a Actively Managed fund actively managed by Aptus. Over the past year, BVAL returned 22.23% vs 18.01% for UPSD. Their correlation of 0.84 suggests significant overlap in exposure. BVAL charges 0.24%/yr vs 0.79%/yr for UPSD.

Performance

BVAL vs. UPSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bluemonte Large Cap Value ETF (BVAL) and Aptus Large Cap Upside ETF (UPSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BVAL achieves a 13.29% return, which is significantly higher than UPSD's 8.71% return.

BVAL

• 1D: -0.13%
• 1M: 0.94%
• 6M: 10.38%
• YTD: 13.29%
• 1Y: 22.23%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UPSD

• 1D: 0.29%
• 1M: 3.97%
• 6M: 6.52%
• YTD: 8.71%
• 1Y: 18.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BVAL vs. UPSD - Yearly Performance Comparison

	2026 (YTD)	2025
BVAL Bluemonte Large Cap Value ETF	13.29%	12.09%
UPSD Aptus Large Cap Upside ETF	8.71%	14.07%

Correlation

The correlation between BVAL and UPSD is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	0.84

The correlation between BVAL and UPSD has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

BVAL vs. UPSD — Risk / Return Rank

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

BVAL

BVAL Risk / Return Rank: 84
BVAL Sharpe Ratio Rank: 85
BVAL Sortino Ratio Rank: 85
BVAL Omega Ratio Rank: 84
BVAL Calmar Ratio Rank: 80
BVAL Martin Ratio Rank: 86

UPSD

UPSD Risk / Return Rank: 42
UPSD Sharpe Ratio Rank: 44
UPSD Sortino Ratio Rank: 41
UPSD Omega Ratio Rank: 42
UPSD Calmar Ratio Rank: 37
UPSD Martin Ratio Rank: 46

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.

BVAL vs. UPSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bluemonte Large Cap Value ETF (BVAL) and Aptus Large Cap Upside ETF (UPSD). 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.

	BVAL	UPSD	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.27	+0.90
Sortino ratio: Return per unit of downside risk	3.06	1.75	+1.31
Omega ratio: Gain probability vs. loss probability	1.39	1.23	+0.16
Calmar ratio: Return relative to maximum drawdown	3.33	1.52	+1.82
Martin ratio: Return relative to average drawdown	13.83	5.95	+7.88

BVAL vs. UPSD - Sharpe Ratio Comparison

The current BVAL Sharpe Ratio is 2.17, which is higher than the UPSD Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of BVAL and UPSD, 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

BVAL vs. UPSD - Drawdown Comparison

The maximum BVAL drawdown since its inception was -6.69%, smaller than the maximum UPSD drawdown of -23.85%. Use the drawdown chart below to compare losses from any high point for BVAL and UPSD.

Drawdown Indicators

	BVAL	UPSD	Difference
Max Drawdown Largest peak-to-trough decline	-6.69%	-23.85%	+17.16%
Max Drawdown (1Y) Largest decline over 1 year	-6.69%	-11.91%	+5.22%
Current Drawdown Current decline from peak	-0.41%	0.00%	-0.41%
Average Drawdown Average peak-to-trough decline	-0.88%	-3.78%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	3.03%	-1.42%

Volatility

BVAL vs. UPSD - Volatility Comparison

The current volatility for Bluemonte Large Cap Value ETF (BVAL) is 2.46%, while Aptus Large Cap Upside ETF (UPSD) has a volatility of 3.78%. This indicates that BVAL experiences smaller price fluctuations and is considered to be less risky than UPSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BVAL	UPSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	3.78%	-1.32%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	11.03%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	14.29%	-4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.20%	20.76%	-10.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.20%	20.76%	-10.56%

BVAL vs. UPSD - Expense Ratio Comparison

BVAL has a 0.24% expense ratio, which is lower than UPSD's 0.79% expense ratio.

Dividends

BVAL vs. UPSD - Dividend Comparison

BVAL's dividend yield for the trailing twelve months is around 1.32%, more than UPSD's 0.66% yield.

Position	TTM	2025	2024
BVAL Bluemonte Large Cap Value ETF	1.32%	0.73%	0.00%
UPSD Aptus Large Cap Upside ETF	0.66%	0.67%	0.06%

Frequently Asked Questions

Can I hold both BVAL and UPSD in my portfolio?

BVAL and UPSD have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BVAL or UPSD?

UPSD has higher volatility (3.78%) compared to BVAL (2.46%). In terms of maximum drawdown, BVAL dropped -6.69% vs UPSD's -23.85%.

Which ETF is better, BVAL or UPSD?

On 1-year performance, BVAL leads with 22.23% vs 18.01% for UPSD. On fees, BVAL is cheaper at 0.24% per year. On volatility, BVAL has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BVAL or UPSD?

Over the 1-year period, BVAL has performed better with a 22.23% return vs 18.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BVAL or UPSD?

BVAL is cheaper with a 0.24% expense ratio, compared with 0.79% for UPSD.

Which ETF pays a higher dividend yield, BVAL or UPSD?

BVAL has the higher dividend yield at 1.32%, compared with 0.66% for UPSD.

What is the main difference between BVAL and UPSD?

BVAL is categorized as Large Cap Value Equities, while UPSD is Actively Managed. They also come from different issuers: Bluemonte and Aptus. Their fees differ too: 0.24% for BVAL and 0.79% for UPSD.

Which has better risk-adjusted returns?

BVAL currently has the higher Sharpe Ratio (2.17 vs 1.27), 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.