DIVZ vs. BEDY
DIVZ (Opal Dividend Income ETF) and BEDY (BNY Mellon Enhanced Dividend Income ETF) are both Large Cap Value Equities funds. Both are actively managed. Their 0.56 correlation means they have sometimes moved together and sometimes differently. DIVZ charges 0.65%/yr vs 0.50%/yr for BEDY.
Performance
DIVZ vs. BEDY - Performance Comparison
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Returns By Period
In the year-to-date period, DIVZ achieves a 7.08% return, which is significantly lower than BEDY's 16.02% return.
DIVZ
- 1D
- -0.45%
- 1M
- 0.59%
- 6M
- 3.13%
- YTD
- 7.08%
- 1Y
- 11.27%
- 3Y*
- 14.07%
- 5Y*
- 9.79%
- 10Y*
- —
- ALL TIME*
- 11.43%
BEDY
- 1D
- 0.16%
- 1M
- 1.84%
- 6M
- 11.84%
- YTD
- 16.02%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.95M | $1.66M | $1.56M | |
| $843.62K | $1.68M | $1.36M |
DIVZ vs. BEDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DIVZ Opal Dividend Income ETF | 7.08% | 0.90% |
BEDY BNY Mellon Enhanced Dividend Income ETF | 16.02% | 1.45% |
Correlation
The correlation between DIVZ and BEDY is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 8, 2025 | 0.56 |
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Return for Risk
DIVZ vs. BEDY — Risk / Return Rank
DIVZ
BEDY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DIVZ vs. BEDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) and BNY Mellon Enhanced Dividend Income ETF (BEDY). 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.
| DIVZ | BEDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.20 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | — | — |
| Martin ratioReturn relative to average drawdown | 4.50 | — | — |
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Drawdowns
DIVZ vs. BEDY - Drawdown Comparison
The maximum DIVZ drawdown since its inception was -15.42%, which is greater than BEDY's maximum drawdown of -6.25%. Use the drawdown chart below to compare losses from any high point for DIVZ and BEDY.
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Drawdown Indicators
| DIVZ | BEDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.42% | -6.25% | -9.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -8.98% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.42% | — | — |
Current DrawdownCurrent decline from peak | -2.48% | -0.90% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -1.14% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | — | — |
Volatility
DIVZ vs. BEDY - Volatility Comparison
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Volatility by Period
| DIVZ | BEDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.84% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.00% | 11.77% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.66% | 11.77% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.56% | 11.77% | +0.79% |
DIVZ vs. BEDY - Expense Ratio Comparison
DIVZ has a 0.65% expense ratio, which is higher than BEDY's 0.50% expense ratio.
Dividends
DIVZ vs. BEDY - Dividend Comparison
DIVZ's dividend yield for the trailing twelve months is around 2.47%, less than BEDY's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BEDY BNY Mellon Enhanced Dividend Income ETF | 3.87% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% |
DIVZ Opal Dividend Income ETF | 2.47% | 2.60% | 2.63% | 3.66% | 3.23% | 3.83% |
Frequently Asked Questions
DIVZ and BEDY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BEDY is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BEDY is cheaper with a 0.50% expense ratio, compared with 0.65% for DIVZ.
BEDY has the higher dividend yield at 3.87%, compared with 2.47% for DIVZ.
They also come from different issuers: TrueShares and BNY Mellon. Their fees differ too: 0.65% for DIVZ and 0.50% for BEDY.
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