DVLU vs. DVOL
DVLU (First Trust Dorsey Wright Momentum & Value ETF) and DVOL (First Trust Dorsey Wright Momentum & Low Volatility ETF) are both Momentum funds from First Trust - DVLU tracks the Dorsey Wright Momentum Plus Value Index while DVOL tracks the Dorsey Wright Momentum Plus Low Volatility Index. Both are passively managed. Over the past 5 years, DVLU returned 12.44%/yr vs 7.39%/yr for DVOL. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.
Performance
DVLU vs. DVOL - Performance Comparison
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Returns By Period
In the year-to-date period, DVLU achieves a 10.45% return, which is significantly higher than DVOL's 4.02% return.
DVLU
- 1D
- 1.15%
- 1M
- 3.83%
- YTD
- 10.45%
- 6M
- 8.12%
- 1Y
- 37.54%
- 3Y*
- 21.33%
- 5Y*
- 12.44%
- 10Y*
- —
DVOL
- 1D
- 0.64%
- 1M
- -0.45%
- YTD
- 4.02%
- 6M
- 2.85%
- 1Y
- 5.75%
- 3Y*
- 13.11%
- 5Y*
- 7.39%
- 10Y*
- —
DVLU vs. DVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.45% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF | 4.02% | 4.30% | 24.84% | 5.39% | -16.10% | 30.08% | 11.15% | 26.10% | -10.21% |
Correlation
The correlation between DVLU and DVOL is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.61 |
The correlation between DVLU and DVOL shifts across timeframes, from 0.61 (all time) to 0.74 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
DVLU vs. DVOL — Risk / Return Rank
DVLU
DVOL
DVLU vs. DVOL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Value ETF (DVLU) and First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL). 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.
| DVLU | DVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.09 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 0.59 | +2.49 |
| Martin ratioReturn relative to average drawdown | 11.11 | 2.04 | +9.07 |
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Drawdowns
DVLU vs. DVOL - Drawdown Comparison
The maximum DVLU drawdown since its inception was -53.26%, which is greater than DVOL's maximum drawdown of -38.26%. Use the drawdown chart below to compare losses from any high point for DVLU and DVOL.
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Drawdown Indicators
| DVLU | DVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -38.26% | -15.00% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -9.82% | -2.42% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -11.66% | -13.20% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -24.65% | -0.21% |
Current DrawdownCurrent decline from peak | -0.95% | -2.60% | +1.65% |
Average DrawdownAverage peak-to-trough decline | -8.73% | -7.15% | -1.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 2.82% | +0.57% |
Volatility
DVLU vs. DVOL - Volatility Comparison
First Trust Dorsey Wright Momentum & Value ETF (DVLU) has a higher volatility of 3.70% compared to First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) at 3.35%. This indicates that DVLU's price experiences larger fluctuations and is considered to be riskier than DVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVLU | DVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 3.35% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 12.34% | 9.47% | +2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.46% | 11.87% | +4.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.39% | 14.40% | +6.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.74% | 17.69% | +8.05% |
DVLU vs. DVOL - Expense Ratio Comparison
Both DVLU and DVOL have an expense ratio of 0.60%.
Dividends
DVLU vs. DVOL - Dividend Comparison
DVLU's dividend yield for the trailing twelve months is around 0.62%, less than DVOL's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF | 0.67% | 0.86% | 0.67% | 1.28% | 1.37% | 0.47% | 0.60% | 1.79% | 0.39% |
Frequently Asked Questions
DVLU and DVOL 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.
DVLU has higher volatility (3.70%) compared to DVOL (3.35%). In terms of maximum drawdown, DVLU dropped -53.26% vs DVOL's -38.26%.
On 5-year performance, DVLU leads with 12.44% vs 7.39% for DVOL. Both ETFs have the same 0.60% expense ratio. On volatility, DVOL has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.44% return vs 7.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DVLU and DVOL have the same expense ratio: 0.60% per year.
DVOL has the higher dividend yield at 0.67%, compared with 0.62% for DVLU.
DVLU tracks Dorsey Wright Momentum Plus Value Index, while DVOL tracks Dorsey Wright Momentum Plus Low Volatility Index.
DVLU currently has the higher Sharpe Ratio (2.30 vs 0.49), 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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