DIVZ vs. DJD

Last updated Aug 2, 2026

DIVZ (Opal Dividend Income ETF) and DJD (Invesco Dow Jones Industrial Average Dividend ETF) are both Large Cap Value Equities funds. DIVZ is actively managed, while DJD is passively managed. Over the past 5 years, DIVZ returned 9.79%/yr vs 11.42%/yr for DJD. Their correlation of 0.84 means they have usually moved in the same direction. DIVZ charges 0.65%/yr vs 0.07%/yr for DJD.

Performance

DIVZ vs. DJD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Opal Dividend Income ETF (DIVZ) and Invesco Dow Jones Industrial Average Dividend ETF (DJD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVZ achieves a 7.08% return, which is significantly lower than DJD's 14.63% 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%

DJD

• 1D: 0.09%
• 1M: -0.05%
• 6M: 9.67%
• YTD: 14.63%
• 1Y: 25.62%
• 3Y*: 17.22%
• 5Y*: 11.42%
• 10Y*: 12.39%
• ALL TIME*: 12.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVZ Opal Dividend Income ETF	$843.62K	$1.68M	$1.36M
DJD Invesco Dow Jones Industrial Average Dividend ETF	$2.54M	$2.87M	$2.55M

DIVZ vs. DJD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	7.08%	16.72%	18.44%	-0.51%	3.51%	19.03%
DJD Invesco Dow Jones Industrial Average Dividend ETF	14.63%	15.83%	13.66%	9.41%	-0.73%	20.05%

Correlation

The correlation between DIVZ and DJD is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (All Time) Calculated using the full available price history since Jan 28, 2021	0.84

The correlation between DIVZ and DJD shifts across timeframes, from 0.71 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

DIVZ vs. DJD - Sectors Allocation Comparison

Sectors	DIVZ	DJD
Consumer Defensive	20.1%	11.5%
Healthcare	19.7%	23.9%
Energy	14.7%	6.5%
Utilities	13.6%	-
Industrials	10.3%	8.1%
Financial Services	9.0%	16.8%
Basic Materials	5.7%	1.9%
Communication Services	5.4%	2.7%
Consumer Cyclical	3.9%	12.3%
Technology	3.3%	16.5%
Real Estate	-	-

Return for Risk

DIVZ vs. DJD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVZ

DIVZ Risk / Return Rank: 46
DIVZ Sharpe Ratio Rank: 46
DIVZ Sortino Ratio Rank: 47
DIVZ Omega Ratio Rank: 42
DIVZ Calmar Ratio Rank: 55
DIVZ Martin Ratio Rank: 42

DJD

DJD Risk / Return Rank: 91
DJD Sharpe Ratio Rank: 92
DJD Sortino Ratio Rank: 93
DJD Omega Ratio Rank: 90
DJD Calmar Ratio Rank: 93
DJD Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVZ vs. DJD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Opal Dividend Income ETF (DIVZ) and Invesco Dow Jones Industrial Average Dividend ETF (DJD). 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	DJD	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.40	-1.26
Sortino ratio: Return per unit of downside risk	1.71	3.62	-1.90
Omega ratio: Gain probability vs. loss probability	1.20	1.42	-0.22
Calmar ratio: Return relative to maximum drawdown	1.95	4.47	-2.53
Martin ratio: Return relative to average drawdown	4.50	13.25	-8.75

DIVZ vs. DJD - Sharpe Ratio Comparison

The current DIVZ Sharpe Ratio is 1.14, which is lower than the DJD Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of DIVZ and DJD, 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

DIVZ vs. DJD - Drawdown Comparison

The maximum DIVZ drawdown since its inception was -15.42%, smaller than the maximum DJD drawdown of -34.66%. Use the drawdown chart below to compare losses from any high point for DIVZ and DJD.

Drawdown Indicators

	DIVZ	DJD	Difference
Max Drawdown Largest peak-to-trough decline	-15.42%	-34.66%	+19.24%
Max Drawdown (1Y) Largest decline over 1 year	-5.83%	-5.64%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-8.98%	-12.28%	+3.30%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-19.94%	+4.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.66%	—
Current Drawdown Current decline from peak	-2.48%	-1.36%	-1.12%
Average Drawdown Average peak-to-trough decline	-3.44%	-3.70%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	1.90%	+0.62%

Volatility

DIVZ vs. DJD - Volatility Comparison

The current volatility for Opal Dividend Income ETF (DIVZ) is 3.87%, while Invesco Dow Jones Industrial Average Dividend ETF (DJD) has a volatility of 4.12%. This indicates that DIVZ experiences smaller price fluctuations and is considered to be less risky than DJD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVZ	DJD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	4.12%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	7.84%	8.07%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	10.00%	10.58%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.66%	13.38%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.56%	16.59%	-4.03%

DIVZ vs. DJD - Expense Ratio Comparison

DIVZ has a 0.65% expense ratio, which is higher than DJD's 0.07% expense ratio.

Dividends

DIVZ vs. DJD - Dividend Comparison

DIVZ's dividend yield for the trailing twelve months is around 2.47%, more than DJD's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIVZ Opal Dividend Income ETF	2.47%	2.60%	2.63%	3.66%	3.23%	3.83%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DJD Invesco Dow Jones Industrial Average Dividend ETF	2.42%	2.62%	3.00%	3.49%	3.16%	2.82%	3.47%	2.80%	2.66%	2.75%	2.46%	0.08%

Frequently Asked Questions

Can I hold both DIVZ and DJD in my portfolio?

DIVZ and DJD have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVZ or DJD?

DJD has higher volatility (4.12%) compared to DIVZ (3.87%). In terms of maximum drawdown, DIVZ dropped -15.42% vs DJD's -34.66%.

Which ETF is better, DIVZ or DJD?

On 5-year performance, DJD leads with 11.42% vs 9.79% for DIVZ. On fees, DJD is cheaper at 0.07% per year. On volatility, DIVZ has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVZ or DJD?

Over the 5-year period, DJD has performed better with a 11.42% return vs 9.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVZ or DJD?

DJD is cheaper with a 0.07% expense ratio, compared with 0.65% for DIVZ.

Which ETF pays a higher dividend yield, DIVZ or DJD?

DIVZ has the higher dividend yield at 2.47%, compared with 2.42% for DJD.

What is the main difference between DIVZ and DJD?

They also come from different issuers: TrueShares and Invesco. Their fees differ too: 0.65% for DIVZ and 0.07% for DJD.

Which has better risk-adjusted returns?

DJD currently has the higher Sharpe Ratio (2.40 vs 1.14), 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.