CAMX vs. DIVZ

Last updated Aug 2, 2026

CAMX (Cambiar Aggressive Value ETF) and DIVZ (Opal Dividend Income ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past 3 years, CAMX returned 12.76%/yr vs 14.07%/yr for DIVZ. Their 0.69 correlation means they have sometimes moved together and sometimes differently. CAMX charges 0.59%/yr vs 0.65%/yr for DIVZ.

Performance

CAMX vs. DIVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambiar Aggressive Value ETF (CAMX) and Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAMX achieves a 12.14% return, which is significantly higher than DIVZ's 7.08% return.

CAMX

• 1D: 0.21%
• 1M: 0.43%
• 6M: 6.77%
• YTD: 12.14%
• 1Y: 19.56%
• 3Y*: 12.76%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.75%

DIVZ

• 1D: -0.45%
• 1M: 0.59%
• 6M: 3.13%
• YTD: 7.08%
• 1Y: 11.27%
• 3Y*: 14.07%
• 5Y*: 9.79%
• 10Y*: —
• ALL TIME*: 11.43%

*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)
CAMX Cambiar Aggressive Value ETF	$33.08K	$21.40K	$13.85K
DIVZ Opal Dividend Income ETF	$843.62K	$1.68M	$1.36M

CAMX vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CAMX Cambiar Aggressive Value ETF	12.14%	9.49%	12.50%	9.65%
DIVZ Opal Dividend Income ETF	7.08%	16.72%	18.44%	-1.45%

Correlation

The correlation between CAMX and DIVZ is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (All Time) Calculated using the full available price history since Feb 13, 2023	0.69

Over the past year, the correlation between CAMX and DIVZ has dropped to 0.48 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

CAMX vs. DIVZ - Sectors Allocation Comparison

Sectors	CAMX	DIVZ
Industrials	27.4%	10.3%
Healthcare	21.5%	19.7%
Communication Services	14.2%	5.4%
Financial Services	8.6%	9.0%
Technology	8.4%	3.3%
Consumer Cyclical	6.4%	3.9%
Energy	5.4%	14.7%
Consumer Defensive	4.2%	20.1%
Basic Materials	3.9%	5.7%
Real Estate	-	-
Utilities	-	13.6%

Return for Risk

CAMX vs. DIVZ — Risk / Return Rank

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

CAMX

CAMX Risk / Return Rank: 50
CAMX Sharpe Ratio Rank: 53
CAMX Sortino Ratio Rank: 56
CAMX Omega Ratio Rank: 51
CAMX Calmar Ratio Rank: 44
CAMX Martin Ratio Rank: 46

DIVZ

DIVZ Risk / Return Rank: 46
DIVZ Sharpe Ratio Rank: 46
DIVZ Sortino Ratio Rank: 47
DIVZ Omega Ratio Rank: 42
DIVZ Calmar Ratio Rank: 55
DIVZ Martin Ratio Rank: 42

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.

CAMX vs. DIVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambiar Aggressive Value ETF (CAMX) and Opal Dividend Income ETF (DIVZ). 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.

	CAMX	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.14	+0.17
Sortino ratio: Return per unit of downside risk	1.96	1.71	+0.25
Omega ratio: Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio: Return relative to maximum drawdown	1.57	1.95	-0.38
Martin ratio: Return relative to average drawdown	5.27	4.50	+0.76

CAMX vs. DIVZ - Sharpe Ratio Comparison

The current CAMX Sharpe Ratio is 1.31, which is comparable to the DIVZ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of CAMX and DIVZ, 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

CAMX vs. DIVZ - Drawdown Comparison

The maximum CAMX drawdown since its inception was -15.71%, roughly equal to the maximum DIVZ drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for CAMX and DIVZ.

Drawdown Indicators

	CAMX	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.71%	-15.42%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.79%	-5.83%	-5.96%
Max Drawdown (3Y) Largest decline over 3 years	-15.71%	-8.98%	-6.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Current Drawdown Current decline from peak	-0.89%	-2.48%	+1.59%
Average Drawdown Average peak-to-trough decline	-2.68%	-3.44%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.52%	+0.98%

Volatility

CAMX vs. DIVZ - Volatility Comparison

Cambiar Aggressive Value ETF (CAMX) has a higher volatility of 4.49% compared to Opal Dividend Income ETF (DIVZ) at 3.87%. This indicates that CAMX's price experiences larger fluctuations and is considered to be riskier than DIVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAMX	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	3.87%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	11.11%	7.84%	+3.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.25%	10.00%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	12.66%	+1.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.49%	12.56%	+1.93%

CAMX vs. DIVZ - Expense Ratio Comparison

CAMX has a 0.59% expense ratio, which is lower than DIVZ's 0.65% expense ratio.

Dividends

CAMX vs. DIVZ - Dividend Comparison

CAMX's dividend yield for the trailing twelve months is around 1.61%, less than DIVZ's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021
CAMX Cambiar Aggressive Value ETF	1.61%	1.81%	1.33%	0.55%	0.00%	0.00%
DIVZ Opal Dividend Income ETF	2.47%	2.60%	2.63%	3.66%	3.23%	3.83%

Frequently Asked Questions

Can I hold both CAMX and DIVZ in my portfolio?

CAMX and DIVZ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAMX or DIVZ?

CAMX has higher volatility (4.49%) compared to DIVZ (3.87%). In terms of maximum drawdown, CAMX dropped -15.71% vs DIVZ's -15.42%.

Which ETF is better, CAMX or DIVZ?

On 3-year performance, DIVZ leads with 14.07% vs 12.76% for CAMX. On fees, CAMX is cheaper at 0.59% per year. On volatility, DIVZ has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CAMX or DIVZ?

Over the 3-year period, DIVZ has performed better with a 14.07% return vs 12.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CAMX or DIVZ?

CAMX is cheaper with a 0.59% expense ratio, compared with 0.65% for DIVZ.

Which ETF pays a higher dividend yield, CAMX or DIVZ?

DIVZ has the higher dividend yield at 2.47%, compared with 1.61% for CAMX.

What is the main difference between CAMX and DIVZ?

They also come from different issuers: Cambiar Funds and TrueShares. Their fees differ too: 0.59% for CAMX and 0.65% for DIVZ.

Which has better risk-adjusted returns?

CAMX currently has the higher Sharpe Ratio (1.31 vs 1.14), 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.