DVLU vs. CVAR
DVLU (First Trust Dorsey Wright Momentum & Value ETF) and CVAR (Cultivar ETF) are both exchange-traded funds - DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index, while CVAR is a Mid Cap Value Equities fund actively managed by Cultivar. DVLU is passively managed, while CVAR is actively managed. Over the past 3 years, DVLU returned 22.18%/yr vs 8.39%/yr for CVAR. A 0.75 correlation means they provide meaningful diversification when combined. DVLU charges 0.60%/yr vs 0.87%/yr for CVAR.
Performance
DVLU vs. CVAR - Performance Comparison
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Returns By Period
In the year-to-date period, DVLU achieves a 10.31% return, which is significantly higher than CVAR's 0.62% return.
DVLU
- 1D
- -0.22%
- 1M
- 3.99%
- YTD
- 10.31%
- 6M
- 12.01%
- 1Y
- 35.76%
- 3Y*
- 22.18%
- 5Y*
- 11.03%
- 10Y*
- —
CVAR
- 1D
- -0.80%
- 1M
- -0.06%
- YTD
- 0.62%
- 6M
- 2.14%
- 1Y
- 11.92%
- 3Y*
- 8.39%
- 5Y*
- —
- 10Y*
- —
DVLU vs. CVAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.31% | 23.67% | 13.36% | 18.84% | -9.73% | 1.86% |
CVAR Cultivar ETF | 0.62% | 14.95% | 3.12% | 11.74% | -5.03% | 0.71% |
Correlation
The correlation between DVLU and CVAR is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2021 | 0.75 |
The correlation between DVLU and CVAR shifts across timeframes, from 0.62 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DVLU vs. CVAR — Risk / Return Rank
DVLU
CVAR
DVLU vs. CVAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Value ETF (DVLU) and Cultivar ETF (CVAR). 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.
| DVLU | CVAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.18 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 1.42 | +1.52 |
| Martin ratioReturn relative to average drawdown | 10.59 | 3.45 | +7.14 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DVLU | CVAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 1.05 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.37 | +0.06 |
Drawdowns
DVLU vs. CVAR - Drawdown Comparison
The maximum DVLU drawdown since its inception was -53.26%, which is greater than CVAR's maximum drawdown of -19.39%. Use the drawdown chart below to compare losses from any high point for DVLU and CVAR.
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Drawdown Indicators
| DVLU | CVAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -19.39% | -33.87% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -8.45% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -15.58% | -9.28% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -6.22% | +6.00% |
Average DrawdownAverage peak-to-trough decline | -8.78% | -5.51% | -3.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 3.46% | -0.07% |
Volatility
DVLU vs. CVAR - Volatility Comparison
First Trust Dorsey Wright Momentum & Value ETF (DVLU) has a higher volatility of 3.65% compared to Cultivar ETF (CVAR) at 2.24%. This indicates that DVLU's price experiences larger fluctuations and is considered to be riskier than CVAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVLU | CVAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 2.24% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.36% | 7.48% | +4.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.40% | 11.43% | +4.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.52% | 15.47% | +6.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.81% | 15.47% | +10.34% |
DVLU vs. CVAR - Expense Ratio Comparison
DVLU has a 0.60% expense ratio, which is lower than CVAR's 0.87% expense ratio.
Dividends
DVLU vs. CVAR - Dividend Comparison
DVLU's dividend yield for the trailing twelve months is around 0.62%, less than CVAR's 1.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CVAR Cultivar ETF | 1.52% | 1.53% | 3.57% | 1.41% | 5.52% | 0.00% | 0.00% | 0.00% | 0.00% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% |
Frequently Asked Questions
DVLU and CVAR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVLU has higher volatility (3.65%) compared to CVAR (2.24%). In terms of maximum drawdown, DVLU dropped -53.26% vs CVAR's -19.39%.
On 3-year performance, DVLU leads with 22.18% vs 8.39% for CVAR. On fees, DVLU is cheaper at 0.60% per year. On volatility, CVAR has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DVLU has performed better with a 22.18% return vs 8.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DVLU is cheaper with a 0.60% expense ratio, compared with 0.87% for CVAR.
CVAR has the higher dividend yield at 1.52%, compared with 0.62% for DVLU.
DVLU is categorized as Momentum, while CVAR is Mid Cap Value Equities. They also come from different issuers: First Trust and Cultivar. Their fees differ too: 0.60% for DVLU and 0.87% for CVAR.
DVLU currently has the higher Sharpe Ratio (2.19 vs 1.05), 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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