DSMC vs. TCV

Last updated Aug 2, 2026

DSMC (Distillate Small/Mid Cash Flow ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. Both are actively managed. Over the past year, DSMC returned 31.37% vs 42.65% for TCV. Their 0.72 correlation means they have sometimes moved together and sometimes differently. DSMC charges 0.55%/yr vs 0.85%/yr for TCV.

Performance

DSMC vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Distillate Small/Mid Cash Flow ETF (DSMC) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DSMC achieves a 20.82% return, which is significantly lower than TCV's 26.87% return.

DSMC

• 1D: -0.24%
• 1M: 3.93%
• 6M: 13.71%
• YTD: 20.82%
• 1Y: 31.37%
• 3Y*: 11.31%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.53%

TCV

• 1D: -0.89%
• 1M: 3.05%
• 6M: 14.79%
• YTD: 26.87%
• 1Y: 42.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.39%

*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)
DSMC Distillate Small/Mid Cash Flow ETF	$134.46K	$196.71K	$205.16K
TCV Towle Value ETF	$839.64K	$680.12K	$340.23K

DSMC vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
DSMC Distillate Small/Mid Cash Flow ETF	20.82%	6.92%
TCV Towle Value ETF	26.87%	2.99%

Correlation

The correlation between DSMC and TCV is 0.72, 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.	0.72
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.72

The correlation between DSMC and TCV has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.

Return for Risk

DSMC vs. TCV — Risk / Return Rank

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

DSMC

DSMC Risk / Return Rank: 77
DSMC Sharpe Ratio Rank: 77
DSMC Sortino Ratio Rank: 81
DSMC Omega Ratio Rank: 73
DSMC Calmar Ratio Rank: 79
DSMC Martin Ratio Rank: 76

TCV

TCV Risk / Return Rank: 81
TCV Sharpe Ratio Rank: 83
TCV Sortino Ratio Rank: 82
TCV Omega Ratio Rank: 77
TCV Calmar Ratio Rank: 85
TCV Martin Ratio Rank: 80

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.

DSMC vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Distillate Small/Mid Cash Flow ETF (DSMC) and Towle Value ETF (TCV). 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.

	DSMC	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.95	-0.19
Sortino ratio: Return per unit of downside risk	2.64	2.72	-0.08
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.83	3.27	-0.44
Martin ratio: Return relative to average drawdown	9.69	10.51	-0.83

DSMC vs. TCV - Sharpe Ratio Comparison

The current DSMC Sharpe Ratio is 1.75, which is comparable to the TCV Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of DSMC and TCV, 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

DSMC vs. TCV - Drawdown Comparison

The maximum DSMC drawdown since its inception was -28.62%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for DSMC and TCV.

Drawdown Indicators

	DSMC	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-28.62%	-12.23%	-16.39%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-12.13%	+1.80%
Max Drawdown (3Y) Largest decline over 3 years	-28.62%	—	—
Current Drawdown Current decline from peak	-1.56%	-2.70%	+1.14%
Average Drawdown Average peak-to-trough decline	-5.79%	-3.22%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	3.76%	-0.75%

Volatility

DSMC vs. TCV - Volatility Comparison

The current volatility for Distillate Small/Mid Cash Flow ETF (DSMC) is 4.34%, while Towle Value ETF (TCV) has a volatility of 4.79%. This indicates that DSMC experiences smaller price fluctuations and is considered to be less risky than TCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DSMC	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	4.79%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	10.47%	13.59%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	20.43%	-3.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.18%	21.02%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.18%	21.02%	-0.84%

DSMC vs. TCV - Expense Ratio Comparison

DSMC has a 0.55% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

DSMC vs. TCV - Dividend Comparison

DSMC's dividend yield for the trailing twelve months is around 1.09%, more than TCV's 0.57% yield.

Position	TTM	2025	2024	2023	2022
DSMC Distillate Small/Mid Cash Flow ETF	1.09%	1.18%	1.31%	1.02%	0.27%
TCV Towle Value ETF	0.57%	0.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DSMC and TCV in my portfolio?

DSMC and TCV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DSMC or TCV?

TCV has higher volatility (4.79%) compared to DSMC (4.34%). In terms of maximum drawdown, DSMC dropped -28.62% vs TCV's -12.23%.

Which ETF is better, DSMC or TCV?

On 1-year performance, TCV leads with 42.65% vs 31.37% for DSMC. On fees, DSMC is cheaper at 0.55% per year. On volatility, DSMC has been the lower-risk option at 4.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DSMC or TCV?

Over the 1-year period, TCV has performed better with a 42.65% return vs 31.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DSMC or TCV?

DSMC is cheaper with a 0.55% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, DSMC or TCV?

DSMC has the higher dividend yield at 1.09%, compared with 0.57% for TCV.

What is the main difference between DSMC and TCV?

They also come from different issuers: Distillate and Alpha Architect. Their fees differ too: 0.55% for DSMC and 0.85% for TCV.

Which has better risk-adjusted returns?

TCV currently has the higher Sharpe Ratio (1.95 vs 1.75), 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.