DIVL vs. ROE

Last updated Jun 4, 2026

DIVL (Madison Dividend Value ETF) and ROE (Astoria US Equal Weight Quality Kings ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, DIVL returned 14.51% vs 37.99% for ROE. A 0.72 correlation means they provide meaningful diversification when combined. DIVL charges 0.65%/yr vs 0.49%/yr for ROE.

Performance

DIVL vs. ROE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Dividend Value ETF (DIVL) and Astoria US Equal Weight Quality Kings ETF (ROE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVL achieves a 8.16% return, which is significantly lower than ROE's 20.98% return.

DIVL

• 1D: 0.41%
• 1M: -0.01%
• YTD: 8.16%
• 6M: 7.23%
• 1Y: 14.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ROE

• 1D: -0.04%
• 1M: 8.10%
• YTD: 20.98%
• 6M: 21.56%
• 1Y: 37.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIVL vs. ROE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVL Madison Dividend Value ETF	8.16%	9.83%	8.81%	1.81%
ROE Astoria US Equal Weight Quality Kings ETF	20.98%	17.20%	18.34%	7.37%

Correlation

The correlation between DIVL and ROE is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since Aug 16, 2023	0.72

The correlation between DIVL and ROE shifts across timeframes, from 0.61 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

DIVL vs. ROE - Sectors Allocation Comparison

Sectors	DIVL	ROE
Energy	17.2%	3.5%
Industrials	16.8%	9.8%
Financial Services	13.8%	11.7%
Healthcare	11.6%	8.7%
Consumer Defensive	10.2%	4.7%
Technology	8.2%	36.1%
Consumer Cyclical	7.7%	9.4%
Basic Materials	6.1%	1.8%
Utilities	6.0%	1.9%
Real Estate	2.4%	1.9%
Communication Services	-	10.6%

Return for Risk

DIVL vs. ROE — Risk / Return Rank

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

DIVL

DIVL Risk / Return Rank: 40
DIVL Sharpe Ratio Rank: 39
DIVL Sortino Ratio Rank: 40
DIVL Omega Ratio Rank: 38
DIVL Calmar Ratio Rank: 43
DIVL Martin Ratio Rank: 41

ROE

ROE Risk / Return Rank: 83
ROE Sharpe Ratio Rank: 84
ROE Sortino Ratio Rank: 82
ROE Omega Ratio Rank: 80
ROE Calmar Ratio Rank: 83
ROE 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.

DIVL vs. ROE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Value ETF (DIVL) and Astoria US Equal Weight Quality Kings ETF (ROE). 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.

	DIVL	ROE	Difference
Sharpe ratio: Return per unit of total volatility	1.38	2.74	-1.36
Sortino ratio: Return per unit of downside risk	2.03	3.69	-1.67
Omega ratio: Gain probability vs. loss probability	1.25	1.48	-0.23
Calmar ratio: Return relative to maximum drawdown	2.10	4.41	-2.31
Martin ratio: Return relative to average drawdown	6.36	19.92	-13.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVL vs. ROE - Sharpe Ratio Comparison

The current DIVL Sharpe Ratio is 1.38, which is lower than the ROE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of DIVL and ROE, 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

	DIVL	ROE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	2.74	-1.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	1.39	-0.55

Drawdowns

DIVL vs. ROE - Drawdown Comparison

The maximum DIVL drawdown since its inception was -14.06%, smaller than the maximum ROE drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for DIVL and ROE.

Drawdown Indicators

	DIVL	ROE	Difference
Max Drawdown Largest peak-to-trough decline	-14.06%	-19.10%	+5.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.93%	-8.66%	+1.73%
Current Drawdown Current decline from peak	-3.34%	-0.04%	-3.30%
Average Drawdown Average peak-to-trough decline	-2.56%	-2.59%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	1.91%	+0.38%

Volatility

DIVL vs. ROE - Volatility Comparison

The current volatility for Madison Dividend Value ETF (DIVL) is 3.08%, while Astoria US Equal Weight Quality Kings ETF (ROE) has a volatility of 3.79%. This indicates that DIVL experiences smaller price fluctuations and is considered to be less risky than ROE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVL	ROE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.79%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	10.66%	-2.61%
Volatility (1Y) Calculated over the trailing 1-year period	10.55%	13.94%	-3.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.39%	15.78%	-3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	15.78%	-3.39%

DIVL vs. ROE - Expense Ratio Comparison

DIVL has a 0.65% expense ratio, which is higher than ROE's 0.49% expense ratio.

Dividends

DIVL vs. ROE - Dividend Comparison

DIVL's dividend yield for the trailing twelve months is around 1.77%, more than ROE's 0.94% yield.

Position	TTM	2025	2024	2023
DIVL Madison Dividend Value ETF	1.77%	1.80%	2.19%	1.01%
ROE Astoria US Equal Weight Quality Kings ETF	0.94%	0.97%	1.18%	0.68%

Frequently Asked Questions

Can I hold both DIVL and ROE in my portfolio?

DIVL and ROE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVL or ROE?

ROE has higher volatility (3.79%) compared to DIVL (3.08%). In terms of maximum drawdown, DIVL dropped -14.06% vs ROE's -19.10%.

Which ETF is better, DIVL or ROE?

On 1-year performance, ROE leads with 37.99% vs 14.51% for DIVL. On fees, ROE is cheaper at 0.49% per year. On volatility, DIVL has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVL or ROE?

Over the 1-year period, ROE has performed better with a 37.99% return vs 14.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVL or ROE?

ROE is cheaper with a 0.49% expense ratio, compared with 0.65% for DIVL.

Which ETF pays a higher dividend yield, DIVL or ROE?

DIVL has the higher dividend yield at 1.77%, compared with 0.94% for ROE.

What is the main difference between DIVL and ROE?

They also come from different issuers: Madison and Astoria. Their fees differ too: 0.65% for DIVL and 0.49% for ROE.

Which has better risk-adjusted returns?

ROE currently has the higher Sharpe Ratio (2.74 vs 1.38), 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.