DEMZ vs. THLV

Last updated Apr 1, 2026

Compare and contrast key facts about Democratic Large Cap Core ETF (DEMZ) and THOR Equal Weight Low Volatility ETF (THLV).

DEMZ and THLV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DEMZ is a passively managed fund by Reflection Asset Management, LLC that tracks the performance of the Democratic Large Cap Core Index. It was launched on Nov 2, 2020. THLV is a passively managed fund by THOR that tracks the performance of the THOR Equal Weight Low Volatility Index. It was launched on Sep 12, 2022. Both DEMZ and THLV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DEMZ vs. THLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Democratic Large Cap Core ETF (DEMZ) and THOR Equal Weight Low Volatility ETF (THLV). The values are adjusted to include any dividend payments, if applicable.

DEMZ vs. THLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DEMZ Democratic Large Cap Core ETF	-5.76%	19.84%	22.89%	24.43%	-1.58%
THLV THOR Equal Weight Low Volatility ETF	6.82%	10.50%	9.52%	5.88%	2.55%

Returns By Period

In the year-to-date period, DEMZ achieves a -5.76% return, which is significantly lower than THLV's 6.82% return.

DEMZ

• 1D: 2.99%
• 1M: -6.00%
• YTD: -5.76%
• 6M: -2.89%
• 1Y: 18.72%
• 3Y*: 17.35%
• 5Y*: 11.40%
• 10Y*: —

THLV

• 1D: 1.01%
• 1M: -4.37%
• YTD: 6.82%
• 6M: 8.18%
• 1Y: 20.10%
• 3Y*: 11.20%
• 5Y*: —
• 10Y*: —

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

DEMZ vs. THLV - Expense Ratio Comparison

DEMZ has a 0.45% expense ratio, which is lower than THLV's 0.64% expense ratio.

THLV

THOR Equal Weight Low Volatility ETF

DEMZ

Democratic Large Cap Core ETF

Return for Risk

DEMZ vs. THLV — Risk / Return Rank

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

DEMZ

DEMZ Risk / Return Rank: 61
DEMZ Sharpe Ratio Rank: 61
DEMZ Sortino Ratio Rank: 62
DEMZ Omega Ratio Rank: 58
DEMZ Calmar Ratio Rank: 64
DEMZ Martin Ratio Rank: 58

THLV

THLV Risk / Return Rank: 88
THLV Sharpe Ratio Rank: 86
THLV Sortino Ratio Rank: 89
THLV Omega Ratio Rank: 84
THLV Calmar Ratio Rank: 91
THLV Martin Ratio Rank: 89

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.

DEMZ vs. THLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Democratic Large Cap Core ETF (DEMZ) and THOR Equal Weight Low Volatility ETF (THLV). 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.

	DEMZ	THLV	Difference
Sharpe ratio Return per unit of total volatility	1.04	1.79	-0.75
Sortino ratio Return per unit of downside risk	1.53	2.50	-0.97
Omega ratio Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio Return relative to maximum drawdown	1.57	3.15	-1.58
Martin ratio Return relative to average drawdown	5.50	11.39	-5.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEMZ vs. THLV - Sharpe Ratio Comparison

The current DEMZ Sharpe Ratio is 1.04, which is lower than the THLV Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of DEMZ and THLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DEMZ	THLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	1.79	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.86	-0.04

Correlation

The correlation between DEMZ and THLV is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DEMZ vs. THLV - Dividend Comparison

DEMZ's dividend yield for the trailing twelve months is around 1.04%, less than THLV's 1.66% yield.

	TTM	2025	2024	2023	2022	2021	2020
DEMZ Democratic Large Cap Core ETF	1.04%	0.98%	0.53%	0.90%	0.98%	2.46%	0.27%
THLV THOR Equal Weight Low Volatility ETF	1.66%	1.77%	1.25%	2.72%	0.62%	0.00%	0.00%

Drawdowns

DEMZ vs. THLV - Drawdown Comparison

The maximum DEMZ drawdown since its inception was -27.17%, which is greater than THLV's maximum drawdown of -13.15%. Use the drawdown chart below to compare losses from any high point for DEMZ and THLV.

Drawdown Indicators

	DEMZ	THLV	Difference
Max Drawdown Largest peak-to-trough decline	-27.17%	-13.15%	-14.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-6.66%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-27.17%	—	—
Current Drawdown Current decline from peak	-9.66%	-4.37%	-5.29%
Average Drawdown Average peak-to-trough decline	-6.24%	-3.75%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	1.84%	+1.66%

Volatility

DEMZ vs. THLV - Volatility Comparison

Democratic Large Cap Core ETF (DEMZ) has a higher volatility of 5.82% compared to THOR Equal Weight Low Volatility ETF (THLV) at 3.55%. This indicates that DEMZ's price experiences larger fluctuations and is considered to be riskier than THLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEMZ	THLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	3.55%	+2.27%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	7.61%	+3.52%
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	11.31%	+6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	11.80%	+5.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.55%	11.80%	+5.75%