DVAL vs. AVIV

Last updated Jun 23, 2026

DVAL (BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF) and AVIV (Avantis International Large Cap Value ETF) are both exchange-traded funds - DVAL is a Large Cap Value Equities fund actively managed by BrandywineGLOBAL, while AVIV is a Foreign Large Cap Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, DVAL returned 13.12%/yr vs 22.35%/yr for AVIV. A 0.66 correlation means they provide meaningful diversification when combined. DVAL charges 0.49%/yr vs 0.25%/yr for AVIV.

Performance

DVAL vs. AVIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) and Avantis International Large Cap Value ETF (AVIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVAL achieves a 8.32% return, which is significantly lower than AVIV's 12.03% return.

DVAL

• 1D: 0.55%
• 1M: 1.71%
• YTD: 8.32%
• 6M: 7.85%
• 1Y: 15.40%
• 3Y*: 13.12%
• 5Y*: —
• 10Y*: —

AVIV

• 1D: 0.22%
• 1M: 0.73%
• YTD: 12.03%
• 6M: 11.97%
• 1Y: 33.95%
• 3Y*: 22.35%
• 5Y*: —
• 10Y*: —

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

DVAL vs. AVIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF	8.32%	8.74%	12.84%	8.73%	1.56%
AVIV Avantis International Large Cap Value ETF	12.03%	41.80%	4.30%	18.47%	10.43%

Correlation

The correlation between DVAL and AVIV 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 (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022	0.66

The correlation between DVAL and AVIV has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

DVAL vs. AVIV - Sectors Allocation Comparison

Sectors	DVAL	AVIV
Financial Services	31.9%	27.3%
Industrials	14.8%	18.5%
Technology	11.8%	4.0%
Consumer Cyclical	10.2%	10.2%
Communication Services	10.0%	4.7%
Healthcare	7.9%	4.7%
Consumer Defensive	6.6%	3.2%
Energy	5.6%	13.0%
Utilities	1.1%	0.7%
Basic Materials	0.1%	12.7%
Real Estate	-	1.0%

Return for Risk

DVAL vs. AVIV — Risk / Return Rank

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

DVAL

DVAL Risk / Return Rank: 45
DVAL Sharpe Ratio Rank: 42
DVAL Sortino Ratio Rank: 44
DVAL Omega Ratio Rank: 39
DVAL Calmar Ratio Rank: 52
DVAL Martin Ratio Rank: 49

AVIV

AVIV Risk / Return Rank: 72
AVIV Sharpe Ratio Rank: 76
AVIV Sortino Ratio Rank: 74
AVIV Omega Ratio Rank: 76
AVIV Calmar Ratio Rank: 66
AVIV Martin Ratio Rank: 69

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.

DVAL vs. AVIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) and Avantis International Large Cap Value ETF (AVIV). 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.

	DVAL	AVIV	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.34	-0.91
Sortino ratio: Return per unit of downside risk	2.14	3.19	-1.05
Omega ratio: Gain probability vs. loss probability	1.25	1.43	-0.18
Calmar ratio: Return relative to maximum drawdown	2.49	3.16	-0.67
Martin ratio: Return relative to average drawdown	7.99	12.35	-4.36

DVAL vs. AVIV - Sharpe Ratio Comparison

The current DVAL Sharpe Ratio is 1.44, which is lower than the AVIV Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of DVAL and AVIV, 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

DVAL vs. AVIV - Drawdown Comparison

The maximum DVAL drawdown since its inception was -18.11%, smaller than the maximum AVIV drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for DVAL and AVIV.

Drawdown Indicators

	DVAL	AVIV	Difference
Max Drawdown Largest peak-to-trough decline	-18.11%	-27.69%	+9.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-10.78%	+4.58%
Max Drawdown (3Y) Largest decline over 3 years	-18.11%	-14.13%	-3.98%
Current Drawdown Current decline from peak	-0.95%	-0.93%	-0.02%
Average Drawdown Average peak-to-trough decline	-3.60%	-5.08%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	2.76%	-0.83%

Volatility

DVAL vs. AVIV - Volatility Comparison

The current volatility for BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) is 3.29%, while Avantis International Large Cap Value ETF (AVIV) has a volatility of 4.70%. This indicates that DVAL experiences smaller price fluctuations and is considered to be less risky than AVIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVAL	AVIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	4.70%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	7.95%	12.34%	-4.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	14.59%	-3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.23%	16.90%	-2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.23%	16.90%	-2.67%

DVAL vs. AVIV - Expense Ratio Comparison

DVAL has a 0.49% expense ratio, which is higher than AVIV's 0.25% expense ratio.

Dividends

DVAL vs. AVIV - Dividend Comparison

DVAL's dividend yield for the trailing twelve months is around 1.85%, less than AVIV's 3.95% yield.

Position	TTM	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	3.95%	3.01%	3.46%	3.64%	2.84%	0.57%
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF	1.85%	2.00%	2.82%	1.16%	13.13%	0.00%

Frequently Asked Questions

Can I hold both DVAL and AVIV in my portfolio?

DVAL and AVIV 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, DVAL or AVIV?

AVIV has higher volatility (4.70%) compared to DVAL (3.29%). In terms of maximum drawdown, DVAL dropped -18.11% vs AVIV's -27.69%.

Which ETF is better, DVAL or AVIV?

On 3-year performance, AVIV leads with 22.35% vs 13.12% for DVAL. On fees, AVIV is cheaper at 0.25% per year. On volatility, DVAL has been the lower-risk option at 3.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVAL or AVIV?

Over the 3-year period, AVIV has performed better with a 22.35% return vs 13.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVAL or AVIV?

AVIV is cheaper with a 0.25% expense ratio, compared with 0.49% for DVAL.

Which ETF pays a higher dividend yield, DVAL or AVIV?

AVIV has the higher dividend yield at 3.95%, compared with 1.85% for DVAL.

What is the main difference between DVAL and AVIV?

DVAL is categorized as Large Cap Value Equities, while AVIV is Foreign Large Cap Equities. They also come from different issuers: BrandywineGLOBAL and Avantis. Their fees differ too: 0.49% for DVAL and 0.25% for AVIV.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.34 vs 1.44), 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.