DFLV vs. VMAX

Last updated Jun 23, 2026

DFLV (Dimensional US Large Cap Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, DFLV returned 32.57% vs 30.65% for VMAX. Their correlation of 0.94 suggests significant overlap in exposure. DFLV charges 0.22%/yr vs 0.29%/yr for VMAX.

Performance

DFLV vs. VMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional US Large Cap Value ETF (DFLV) and Hartford US Value ETF (VMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFLV achieves a 16.77% return, which is significantly higher than VMAX's 15.53% return.

DFLV

• 1D: 0.91%
• 1M: 2.68%
• YTD: 16.77%
• 6M: 16.02%
• 1Y: 32.57%
• 3Y*: 19.27%
• 5Y*: —
• 10Y*: —

VMAX

• 1D: 0.74%
• 1M: 3.13%
• YTD: 15.53%
• 6M: 14.57%
• 1Y: 30.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFLV vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DFLV Dimensional US Large Cap Value ETF	16.77%	15.90%	12.88%	6.34%
VMAX Hartford US Value ETF	15.53%	15.65%	15.89%	5.71%

Correlation

The correlation between DFLV and VMAX is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.94

The correlation between DFLV and VMAX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

DFLV vs. VMAX - Sectors Allocation Comparison

Sectors	DFLV	VMAX
Financial Services	20.2%	32.4%
Technology	16.2%	13.3%
Energy	13.8%	11.0%
Healthcare	13.4%	11.1%
Industrials	13.0%	5.5%
Consumer Cyclical	7.7%	3.7%
Basic Materials	6.8%	2.8%
Consumer Defensive	4.5%	3.7%
Communication Services	4.2%	6.6%
Real Estate	0.3%	4.4%
Utilities	-	5.3%

Return for Risk

DFLV vs. VMAX — Risk / Return Rank

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

DFLV

DFLV Risk / Return Rank: 90
DFLV Sharpe Ratio Rank: 89
DFLV Sortino Ratio Rank: 89
DFLV Omega Ratio Rank: 86
DFLV Calmar Ratio Rank: 92
DFLV Martin Ratio Rank: 91

VMAX

VMAX Risk / Return Rank: 85
VMAX Sharpe Ratio Rank: 82
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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.

DFLV vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional US Large Cap Value ETF (DFLV) and Hartford US Value ETF (VMAX). 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.

	DFLV	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.50	+0.35
Sortino ratio: Return per unit of downside risk	3.92	3.39	+0.53
Omega ratio: Gain probability vs. loss probability	1.51	1.44	+0.07
Calmar ratio: Return relative to maximum drawdown	5.97	6.24	-0.28
Martin ratio: Return relative to average drawdown	20.75	21.91	-1.16

DFLV vs. VMAX - Sharpe Ratio Comparison

The current DFLV Sharpe Ratio is 2.85, which is comparable to the VMAX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of DFLV and VMAX, 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

DFLV vs. VMAX - Drawdown Comparison

The maximum DFLV drawdown since its inception was -16.80%, smaller than the maximum VMAX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for DFLV and VMAX.

Drawdown Indicators

	DFLV	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.80%	-19.05%	+2.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-4.93%	-0.55%
Max Drawdown (3Y) Largest decline over 3 years	-16.80%	—	—
Current Drawdown Current decline from peak	-0.45%	-0.31%	-0.14%
Average Drawdown Average peak-to-trough decline	-3.04%	-2.53%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.40%	+0.17%

Volatility

DFLV vs. VMAX - Volatility Comparison

Dimensional US Large Cap Value ETF (DFLV) has a higher volatility of 3.61% compared to Hartford US Value ETF (VMAX) at 3.17%. This indicates that DFLV's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFLV	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	3.17%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	8.83%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	11.51%	12.34%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	15.42%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.21%	15.42%	-1.21%

DFLV vs. VMAX - Expense Ratio Comparison

DFLV has a 0.22% expense ratio, which is lower than VMAX's 0.29% expense ratio.

Dividends

DFLV vs. VMAX - Dividend Comparison

DFLV's dividend yield for the trailing twelve months is around 1.39%, less than VMAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022
DFLV Dimensional US Large Cap Value ETF	1.39%	1.61%	1.65%	1.72%	0.11%
VMAX Hartford US Value ETF	1.85%	2.14%	1.95%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFLV and VMAX in my portfolio?

With a correlation of 0.92, DFLV and VMAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DFLV or VMAX?

DFLV has higher volatility (3.61%) compared to VMAX (3.17%). In terms of maximum drawdown, DFLV dropped -16.80% vs VMAX's -19.05%.

Which ETF is better, DFLV or VMAX?

On 1-year performance, DFLV leads with 32.57% vs 30.65% for VMAX. On fees, DFLV is cheaper at 0.22% per year. On volatility, VMAX has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFLV or VMAX?

Over the 1-year period, DFLV has performed better with a 32.57% return vs 30.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFLV or VMAX?

DFLV is cheaper with a 0.22% expense ratio, compared with 0.29% for VMAX.

Which ETF pays a higher dividend yield, DFLV or VMAX?

VMAX has the higher dividend yield at 1.85%, compared with 1.39% for DFLV.

What is the main difference between DFLV and VMAX?

They also come from different issuers: Dimensional and Hartford. Their fees differ too: 0.22% for DFLV and 0.29% for VMAX.

Which has better risk-adjusted returns?

DFLV currently has the higher Sharpe Ratio (2.85 vs 2.50), 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.