DEEP vs. USVM

Last updated Jun 4, 2026

DEEP (Roundhill Acquirers Deep Value ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both exchange-traded funds - DEEP is a Small Cap Value Equities fund tracking the DEEP-US - Acquirers Deep Value Index, while USVM is a Momentum fund tracking the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, DEEP returned 3.74%/yr vs 9.74%/yr for USVM. Their correlation of 0.85 suggests significant overlap in exposure. DEEP charges 0.80%/yr vs 0.29%/yr for USVM.

Performance

DEEP vs. USVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Acquirers Deep Value ETF (DEEP) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEEP achieves a 12.39% return, which is significantly lower than USVM's 15.26% return.

DEEP

• 1D: -2.02%
• 1M: 0.72%
• YTD: 12.39%
• 6M: 11.91%
• 1Y: 27.76%
• 3Y*: 9.78%
• 5Y*: 3.74%
• 10Y*: 8.15%

USVM

• 1D: -0.40%
• 1M: 2.60%
• YTD: 15.26%
• 6M: 15.00%
• 1Y: 30.42%
• 3Y*: 19.79%
• 5Y*: 9.74%
• 10Y*: —

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

DEEP vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEEP Roundhill Acquirers Deep Value ETF	12.39%	5.69%	-2.97%	22.37%	-17.71%	35.66%	-9.96%	12.54%	-7.17%	13.60%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	15.26%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.21%

Correlation

The correlation between DEEP and USVM 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 (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.85

The correlation between DEEP and USVM has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

DEEP vs. USVM - Sectors Allocation Comparison

Sectors	DEEP	USVM
Industrials	25.8%	12.1%
Consumer Cyclical	25.5%	11.1%
Consumer Defensive	10.5%	5.0%
Financial Services	8.6%	22.0%
Technology	8.5%	11.6%
Healthcare	6.6%	11.0%
Energy	5.7%	4.4%
Basic Materials	4.8%	1.8%
Communication Services	4.1%	2.8%
Real Estate	3.1%	11.9%
Utilities	-	6.4%

Return for Risk

DEEP vs. USVM — Risk / Return Rank

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

DEEP

DEEP Risk / Return Rank: 42
DEEP Sharpe Ratio Rank: 41
DEEP Sortino Ratio Rank: 43
DEEP Omega Ratio Rank: 38
DEEP Calmar Ratio Rank: 48
DEEP Martin Ratio Rank: 42

USVM

USVM Risk / Return Rank: 65
USVM Sharpe Ratio Rank: 60
USVM Sortino Ratio Rank: 63
USVM Omega Ratio Rank: 57
USVM Calmar Ratio Rank: 73
USVM Martin Ratio Rank: 73

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.

DEEP vs. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Acquirers Deep Value ETF (DEEP) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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.

	DEEP	USVM	Difference
Sharpe ratio: Return per unit of total volatility	1.46	2.05	-0.59
Sortino ratio: Return per unit of downside risk	2.16	2.98	-0.82
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.11
Calmar ratio: Return relative to maximum drawdown	2.35	3.66	-1.31
Martin ratio: Return relative to average drawdown	6.76	13.76	-7.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEEP vs. USVM - Sharpe Ratio Comparison

The current DEEP Sharpe Ratio is 1.46, which is comparable to the USVM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DEEP and USVM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DEEP	USVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	2.05	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.50	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.49	-0.19

Drawdowns

DEEP vs. USVM - Drawdown Comparison

The maximum DEEP drawdown since its inception was -52.52%, which is greater than USVM's maximum drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for DEEP and USVM.

Drawdown Indicators

	DEEP	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-52.52%	-42.38%	-10.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	-8.36%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	-24.34%	-4.06%
Max Drawdown (5Y) Largest decline over 5 years	-28.40%	-25.27%	-3.13%
Max Drawdown (10Y) Largest decline over 10 years	-52.52%	—	—
Current Drawdown Current decline from peak	-2.02%	-0.57%	-1.45%
Average Drawdown Average peak-to-trough decline	-10.40%	-7.90%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	2.22%	+1.90%

Volatility

DEEP vs. USVM - Volatility Comparison

Roundhill Acquirers Deep Value ETF (DEEP) has a higher volatility of 5.67% compared to VictoryShares US Small Mid Cap Value Momentum ETF (USVM) at 4.50%. This indicates that DEEP's price experiences larger fluctuations and is considered to be riskier than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEEP	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	4.50%	+1.17%
Volatility (6M) Calculated over the trailing 6-month period	12.29%	10.73%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	14.93%	+4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	19.65%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	22.01%	+2.26%

DEEP vs. USVM - Expense Ratio Comparison

DEEP has a 0.80% expense ratio, which is higher than USVM's 0.29% expense ratio.

Dividends

DEEP vs. USVM - Dividend Comparison

DEEP's dividend yield for the trailing twelve months is around 1.52%, less than USVM's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEEP Roundhill Acquirers Deep Value ETF	1.52%	1.78%	1.96%	1.67%	1.28%	1.43%	4.03%	3.49%	1.51%	2.01%	3.14%	3.98%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.76%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEEP and USVM in my portfolio?

DEEP and USVM 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 is riskier, DEEP or USVM?

DEEP has higher volatility (5.67%) compared to USVM (4.50%). In terms of maximum drawdown, DEEP dropped -52.52% vs USVM's -42.38%.

Which ETF is better, DEEP or USVM?

On 5-year performance, USVM leads with 9.74% vs 3.74% for DEEP. On fees, USVM is cheaper at 0.29% per year. On volatility, USVM has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEEP or USVM?

Over the 5-year period, USVM has performed better with a 9.74% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEEP or USVM?

USVM is cheaper with a 0.29% expense ratio, compared with 0.80% for DEEP.

Which ETF pays a higher dividend yield, DEEP or USVM?

USVM has the higher dividend yield at 1.76%, compared with 1.52% for DEEP.

What is the main difference between DEEP and USVM?

DEEP is categorized as Small Cap Value Equities, while USVM is Momentum. DEEP tracks DEEP-US - Acquirers Deep Value Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: Exchange Traded Concepts and Victory Capital. Their fees differ too: 0.80% for DEEP and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.05 vs 1.46), 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.