DFVE vs. CVSE

Last updated Jun 4, 2026

DFVE (Doubleline Fortune 500 Equal Weight ETF) and CVSE (Calvert US Select Equity ETF) are both Large Cap Blend Equities funds. DFVE is passively managed, while CVSE is actively managed. Over the past year, DFVE returned 23.82% vs 8.06% for CVSE. A 0.69 correlation means they provide meaningful diversification when combined. DFVE charges 0.20%/yr vs 0.29%/yr for CVSE.

Performance

DFVE vs. CVSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Doubleline Fortune 500 Equal Weight ETF (DFVE) and Calvert US Select Equity ETF (CVSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DFVE

• 1D: -0.48%
• 1M: 2.49%
• YTD: 10.31%
• 6M: 10.69%
• 1Y: 23.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVSE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 8.06%
• 3Y*: 13.34%
• 5Y*: —
• 10Y*: —

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

DFVE vs. CVSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DFVE Doubleline Fortune 500 Equal Weight ETF	10.31%	14.51%	13.70%
CVSE Calvert US Select Equity ETF	0.00%	10.14%	15.14%

Correlation

The correlation between DFVE and CVSE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.69

Over the past year, the correlation between DFVE and CVSE has dropped to 0.44 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

DFVE vs. CVSE - Sectors Allocation Comparison

Sectors	DFVE	CVSE
Industrials	16.9%	11.3%
Consumer Cyclical	16.1%	7.0%
Financial Services	14.5%	16.3%
Technology	12.9%	39.5%
Healthcare	9.8%	10.3%
Consumer Defensive	8.2%	1.7%
Energy	6.3%	-
Utilities	5.2%	2.5%
Basic Materials	4.5%	2.7%
Communication Services	4.3%	5.1%
Real Estate	1.4%	3.5%

Return for Risk

DFVE vs. CVSE — Risk / Return Rank

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

DFVE

DFVE Risk / Return Rank: 58
DFVE Sharpe Ratio Rank: 56
DFVE Sortino Ratio Rank: 59
DFVE Omega Ratio Rank: 53
DFVE Calmar Ratio Rank: 62
DFVE Martin Ratio Rank: 62

CVSE

CVSE Risk / Return Rank: 46
CVSE Sharpe Ratio Rank: 36
CVSE Sortino Ratio Rank: 37
CVSE Omega Ratio Rank: 67
CVSE Calmar Ratio Rank: 54
CVSE Martin Ratio Rank: 37

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.

DFVE vs. CVSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Doubleline Fortune 500 Equal Weight ETF (DFVE) and Calvert US Select Equity ETF (CVSE). 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.

	DFVE	CVSE	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.28	+0.61
Sortino ratio: Return per unit of downside risk	2.75	1.90	+0.85
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	3.07	2.66	+0.42
Martin ratio: Return relative to average drawdown	10.92	5.71	+5.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFVE vs. CVSE - Sharpe Ratio Comparison

The current DFVE Sharpe Ratio is 1.88, which is higher than the CVSE Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of DFVE and CVSE, 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

	DFVE	CVSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.28	+0.61
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.92	+0.17

Drawdowns

DFVE vs. CVSE - Drawdown Comparison

The maximum DFVE drawdown since its inception was -19.43%, roughly equal to the maximum CVSE drawdown of -20.29%. Use the drawdown chart below to compare losses from any high point for DFVE and CVSE.

Drawdown Indicators

	DFVE	CVSE	Difference
Max Drawdown Largest peak-to-trough decline	-19.43%	-20.29%	+0.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.79%	-3.08%	-4.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.29%	—
Current Drawdown Current decline from peak	-0.48%	-1.68%	+1.20%
Average Drawdown Average peak-to-trough decline	-2.77%	-2.69%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.42%	+0.77%

Volatility

DFVE vs. CVSE - Volatility Comparison

Doubleline Fortune 500 Equal Weight ETF (DFVE) has a higher volatility of 2.98% compared to Calvert US Select Equity ETF (CVSE) at 0.00%. This indicates that DFVE's price experiences larger fluctuations and is considered to be riskier than CVSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFVE	CVSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	0.00%	+2.98%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	0.00%	+9.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	6.49%	+6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	13.87%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.56%	13.87%	+1.69%

DFVE vs. CVSE - Expense Ratio Comparison

DFVE has a 0.20% expense ratio, which is lower than CVSE's 0.29% expense ratio.

Dividends

DFVE vs. CVSE - Dividend Comparison

DFVE's dividend yield for the trailing twelve months is around 1.37%, more than CVSE's 0.59% yield.

Position	TTM	2025	2024	2023
CVSE Calvert US Select Equity ETF	0.59%	0.81%	1.05%	1.22%
DFVE Doubleline Fortune 500 Equal Weight ETF	1.37%	1.52%	1.53%	0.00%

Frequently Asked Questions

Can I hold both DFVE and CVSE in my portfolio?

DFVE and CVSE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFVE or CVSE?

DFVE has higher volatility (2.98%) compared to CVSE (0.00%). In terms of maximum drawdown, DFVE dropped -19.43% vs CVSE's -20.29%.

Which ETF is better, DFVE or CVSE?

On 1-year performance, DFVE leads with 23.82% vs 8.06% for CVSE. On fees, DFVE is cheaper at 0.20% per year. On volatility, CVSE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFVE or CVSE?

Over the 1-year period, DFVE has performed better with a 23.82% return vs 8.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFVE or CVSE?

DFVE is cheaper with a 0.20% expense ratio, compared with 0.29% for CVSE.

Which ETF pays a higher dividend yield, DFVE or CVSE?

DFVE has the higher dividend yield at 1.37%, compared with 0.59% for CVSE.

What is the main difference between DFVE and CVSE?

They also come from different issuers: DoubleLine and Calvert. Their fees differ too: 0.20% for DFVE and 0.29% for CVSE.

Which has better risk-adjusted returns?

DFVE currently has the higher Sharpe Ratio (1.88 vs 1.28), 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.