CGV vs. IVSX

Last updated Jun 24, 2026

CGV (Conductor Global Equity Value ETF) and IVSX (Applied Finance IVS International SMID ETF) are both Foreign Small & Mid Cap Equities funds. Both are actively managed. Their correlation of 0.82 suggests significant overlap in exposure. CGV charges 1.25%/yr vs 0.75%/yr for IVSX.

Performance

CGV vs. IVSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Conductor Global Equity Value ETF (CGV) and Applied Finance IVS International SMID ETF (IVSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CGV

• 1D: -1.57%
• 1M: -3.07%
• YTD: 7.53%
• 6M: 6.77%
• 1Y: 21.28%
• 3Y*: 11.34%
• 5Y*: —
• 10Y*: —

IVSX

• 1D: -1.55%
• 1M: -2.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CGV vs. IVSX - Yearly Performance Comparison

	2026 (YTD)
CGV Conductor Global Equity Value ETF	-4.01%
IVSX Applied Finance IVS International SMID ETF	-4.13%

Correlation

The correlation between CGV and IVSX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	0.82

Return for Risk

CGV vs. IVSX — Risk / Return Rank

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

CGV

CGV Risk / Return Rank: 42
CGV Sharpe Ratio Rank: 45
CGV Sortino Ratio Rank: 42
CGV Omega Ratio Rank: 43
CGV Calmar Ratio Rank: 38
CGV Martin Ratio Rank: 40

IVSX

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

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.

CGV vs. IVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Conductor Global Equity Value ETF (CGV) and Applied Finance IVS International SMID ETF (IVSX). 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.

	CGV	IVSX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	—	—
Sortino ratio: Return per unit of downside risk	1.97	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.76	—	—
Martin ratio: Return relative to average drawdown	5.96	—	—

Drawdowns

CGV vs. IVSX - Drawdown Comparison

The maximum CGV drawdown since its inception was -16.64%, which is greater than IVSX's maximum drawdown of -11.96%. Use the drawdown chart below to compare losses from any high point for CGV and IVSX.

Drawdown Indicators

	CGV	IVSX	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-11.96%	-4.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.64%	—	—
Current Drawdown Current decline from peak	-7.59%	-5.22%	-2.37%
Average Drawdown Average peak-to-trough decline	-3.67%	-4.73%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	—	—

Volatility

Volatility by Period

	CGV	IVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.72%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	20.05%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.68%	20.05%	-6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.68%	20.05%	-6.37%

CGV vs. IVSX - Expense Ratio Comparison

CGV has a 1.25% expense ratio, which is higher than IVSX's 0.75% expense ratio.

Dividends

CGV vs. IVSX - Dividend Comparison

CGV's dividend yield for the trailing twelve months is around 5.10%, while IVSX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CGV Conductor Global Equity Value ETF	5.10%	4.58%	2.87%	4.56%	0.71%
IVSX Applied Finance IVS International SMID ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CGV and IVSX in my portfolio?

CGV and IVSX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CGV or IVSX?

On fees, IVSX is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CGV or IVSX?

IVSX is cheaper with a 0.75% expense ratio, compared with 1.25% for CGV.

Which ETF pays a higher dividend yield, CGV or IVSX?

CGV has the higher dividend yield at 5.10%, compared with 0.00% for IVSX.

What is the main difference between CGV and IVSX?

They also come from different issuers: Conductor Fund and Applied Finance. Their fees differ too: 1.25% for CGV and 0.75% for IVSX.