CDL vs. AVGX
CDL (VictoryShares US Large Cap High Dividend Volatility Wtd ETF) and AVGX (Defiance Daily Target 2X Long AVGO ETF) are both exchange-traded funds - CDL is a Large Cap Value Equities fund tracking the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index, while AVGX is a Leveraged Equities fund actively managed by Defiance. CDL is passively managed, while AVGX is actively managed. Over the past year, CDL returned 18.04% vs 156.34% for AVGX. At a 0.04 correlation, their price movements are largely independent. CDL charges 0.35%/yr vs 1.29%/yr for AVGX.
Performance
CDL vs. AVGX - Performance Comparison
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Returns By Period
In the year-to-date period, CDL achieves a 10.43% return, which is significantly lower than AVGX's 69.89% return.
CDL
- 1D
- -0.61%
- 1M
- -0.38%
- YTD
- 10.43%
- 6M
- 10.31%
- 1Y
- 18.04%
- 3Y*
- 14.68%
- 5Y*
- 8.68%
- 10Y*
- 10.83%
AVGX
- 1D
- -0.83%
- 1M
- 29.49%
- YTD
- 69.89%
- 6M
- 35.83%
- 1Y
- 156.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CDL vs. AVGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 10.43% | 9.04% | 1.56% |
AVGX Defiance Daily Target 2X Long AVGO ETF | 69.89% | 46.98% | 69.92% |
Correlation
The correlation between CDL and AVGX is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2024 | 0.04 |
The correlation between CDL and AVGX shifts across timeframes, from -0.08 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CDL vs. AVGX — Risk / Return Rank
CDL
AVGX
CDL vs. AVGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) and Defiance Daily Target 2X Long AVGO ETF (AVGX). 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.
| CDL | AVGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 2.91 | +0.29 |
| Martin ratioReturn relative to average drawdown | 11.35 | 6.49 | +4.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CDL | AVGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.86 | 1.83 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 1.21 | -0.57 |
Drawdowns
CDL vs. AVGX - Drawdown Comparison
The maximum CDL drawdown since its inception was -41.03%, smaller than the maximum AVGX drawdown of -70.97%. Use the drawdown chart below to compare losses from any high point for CDL and AVGX.
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Drawdown Indicators
| CDL | AVGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.03% | -70.97% | +29.94% |
Max Drawdown (1Y)Largest decline over 1 year | -5.66% | -54.09% | +48.43% |
Max Drawdown (3Y)Largest decline over 3 years | -12.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.03% | — | — |
Current DrawdownCurrent decline from peak | -2.19% | -0.83% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -4.35% | -22.71% | +18.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 24.20% | -22.61% |
Volatility
CDL vs. AVGX - Volatility Comparison
The current volatility for VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) is 2.66%, while Defiance Daily Target 2X Long AVGO ETF (AVGX) has a volatility of 23.50%. This indicates that CDL experiences smaller price fluctuations and is considered to be less risky than AVGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CDL | AVGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 23.50% | -20.84% |
Volatility (6M)Calculated over the trailing 6-month period | 6.86% | 61.90% | -55.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.75% | 85.97% | -76.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.85% | 104.65% | -90.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 104.65% | -87.61% |
CDL vs. AVGX - Expense Ratio Comparison
CDL has a 0.35% expense ratio, which is lower than AVGX's 1.29% expense ratio.
Dividends
CDL vs. AVGX - Dividend Comparison
CDL's dividend yield for the trailing twelve months is around 3.17%, more than AVGX's 0.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVGX Defiance Daily Target 2X Long AVGO ETF | 0.97% | 1.65% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CDL VictoryShares US Large Cap High Dividend Volatility Wtd ETF | 3.17% | 3.33% | 3.27% | 3.61% | 3.31% | 2.60% | 3.32% | 3.04% | 3.32% | 2.87% | 2.97% | 1.28% |
Frequently Asked Questions
CDL and AVGX have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AVGX has higher volatility (23.50%) compared to CDL (2.66%). In terms of maximum drawdown, CDL dropped -41.03% vs AVGX's -70.97%.
On 1-year performance, AVGX leads with 156.34% vs 18.04% for CDL. On fees, CDL is cheaper at 0.35% per year. On volatility, CDL has been the lower-risk option at 2.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AVGX has performed better with a 156.34% return vs 18.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CDL is cheaper with a 0.35% expense ratio, compared with 1.29% for AVGX.
CDL has the higher dividend yield at 3.17%, compared with 0.97% for AVGX.
CDL is categorized as Large Cap Value Equities, while AVGX is Leveraged Equities. They also come from different issuers: Crestview and Defiance. Their fees differ too: 0.35% for CDL and 1.29% for AVGX.
CDL currently has the higher Sharpe Ratio (1.86 vs 1.83), 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.
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