DVAL vs. IWX
DVAL (BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF) and IWX (iShares Russell Top 200 Value ETF) are both Large Cap Value Equities funds. DVAL is actively managed, while IWX is passively managed. Over the past 3 years, DVAL returned 12.37%/yr vs 18.98%/yr for IWX. Their correlation of 0.89 means they have usually moved in the same direction. DVAL charges 0.49%/yr vs 0.20%/yr for IWX.
Performance
DVAL vs. IWX - Performance Comparison
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Returns By Period
In the year-to-date period, DVAL achieves a 13.26% return, which is significantly lower than IWX's 20.90% return.
DVAL
- 1D
- 0.33%
- 1M
- 2.88%
- 6M
- 8.79%
- YTD
- 13.26%
- 1Y
- 18.55%
- 3Y*
- 12.37%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.11%
IWX
- 1D
- 0.74%
- 1M
- 2.59%
- 6M
- 15.57%
- YTD
- 20.90%
- 1Y
- 34.92%
- 3Y*
- 18.98%
- 5Y*
- 12.65%
- 10Y*
- 12.13%
- ALL TIME*
- 11.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $286.13K | $154.34K | $233.85K | |
| $55.11M | $49.72M | $33.93M |
DVAL vs. IWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF | 13.26% | 8.74% | 12.84% | 8.73% | 1.56% |
IWX iShares Russell Top 200 Value ETF | 20.90% | 18.23% | 14.89% | 10.45% | 1.85% |
Correlation
The correlation between DVAL and IWX is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022 | 0.89 |
The correlation between DVAL and IWX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
DVAL vs. IWX - Sectors Allocation Comparison
Sectors
DVAL
IWX
Financial Services
Industrials
Technology
Consumer Cyclical
Healthcare
Communication Services
Energy
Consumer Defensive
Utilities
Basic Materials
Real Estate
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Financial Services
DVAL
IWX
Industrials
DVAL
IWX
Technology
DVAL
IWX
Consumer Cyclical
DVAL
IWX
Healthcare
DVAL
IWX
Communication Services
DVAL
IWX
Energy
DVAL
IWX
Consumer Defensive
DVAL
IWX
Utilities
DVAL
IWX
Basic Materials
DVAL
IWX
Real Estate
DVAL
-
IWX
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Return for Risk
DVAL vs. IWX — Risk / Return Rank
DVAL
IWX
DVAL vs. IWX - 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 iShares Russell Top 200 Value ETF (IWX). 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 | IWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.47 | ||
| Sortino ratioReturn per unit of downside risk | -1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.55 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 5.05 | -2.26 |
| Martin ratioReturn relative to average drawdown | 9.36 | 22.22 | -12.86 |
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Drawdowns
DVAL vs. IWX - Drawdown Comparison
The maximum DVAL drawdown since its inception was -18.11%, smaller than the maximum IWX drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for DVAL and IWX.
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Drawdown Indicators
| DVAL | IWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.11% | -35.76% | +17.65% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -6.59% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -18.11% | -13.37% | -4.74% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.13% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.76% | — |
Current DrawdownCurrent decline from peak | -0.80% | 0.00% | -0.80% |
Average DrawdownAverage peak-to-trough decline | -3.50% | -3.79% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 1.50% | +0.34% |
Volatility
DVAL vs. IWX - Volatility Comparison
BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF (DVAL) and iShares Russell Top 200 Value ETF (IWX) have volatilities of 3.03% and 3.10%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVAL | IWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 3.10% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 7.73% | 8.46% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.61% | 10.81% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.11% | 13.89% | +0.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.11% | 16.48% | -2.37% |
DVAL vs. IWX - Expense Ratio Comparison
DVAL has a 0.49% expense ratio, which is higher than IWX's 0.20% expense ratio.
Dividends
DVAL vs. IWX - Dividend Comparison
DVAL's dividend yield for the trailing twelve months is around 1.77%, more than IWX's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVAL BrandywineGLOBAL Dynamic U.S. Large Cap Value ETF | 1.77% | 2.00% | 2.82% | 1.16% | 13.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWX iShares Russell Top 200 Value ETF | 1.39% | 1.59% | 1.97% | 2.13% | 2.07% | 1.79% | 2.12% | 2.60% | 2.66% | 2.12% | 2.22% | 2.77% |
Frequently Asked Questions
DVAL and IWX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWX has higher volatility (3.10%) compared to DVAL (3.03%). In terms of maximum drawdown, DVAL dropped -18.11% vs IWX's -35.76%.
On 3-year performance, IWX leads with 18.98% vs 12.37% for DVAL. On fees, IWX is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IWX has performed better with a 18.98% return vs 12.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWX is cheaper with a 0.20% expense ratio, compared with 0.49% for DVAL.
DVAL has the higher dividend yield at 1.77%, compared with 1.39% for IWX.
They also come from different issuers: BrandywineGLOBAL and iShares. Their fees differ too: 0.49% for DVAL and 0.20% for IWX.
IWX currently has the higher Sharpe Ratio (3.10 vs 1.63), 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.
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