DVLU vs. JMOM

Last updated Jun 23, 2026

DVLU (First Trust Dorsey Wright Momentum & Value ETF) and JMOM (JPMorgan U.S. Momentum Factor ETF) are both Momentum funds - DVLU tracks the Dorsey Wright Momentum Plus Value Index while JMOM tracks the JP Morgan US Momentum Factor Index. Both are passively managed. Over the past 5 years, DVLU returned 12.44%/yr vs 15.85%/yr for JMOM. A 0.69 correlation means they provide meaningful diversification when combined. DVLU charges 0.60%/yr vs 0.12%/yr for JMOM.

Performance

DVLU vs. JMOM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Momentum & Value ETF (DVLU) and JPMorgan U.S. Momentum Factor ETF (JMOM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVLU achieves a 10.45% return, which is significantly lower than JMOM's 24.86% return.

DVLU

• 1D: 1.15%
• 1M: 3.83%
• YTD: 10.45%
• 6M: 8.12%
• 1Y: 37.54%
• 3Y*: 21.33%
• 5Y*: 12.44%
• 10Y*: —

JMOM

• 1D: 0.69%
• 1M: 5.57%
• YTD: 24.86%
• 6M: 23.18%
• 1Y: 39.01%
• 3Y*: 28.48%
• 5Y*: 15.85%
• 10Y*: —

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

DVLU vs. JMOM - 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%
JMOM JPMorgan U.S. Momentum Factor ETF	24.86%	18.02%	28.47%	22.89%	-20.83%	25.03%	29.25%	28.24%	-15.08%

Correlation

The correlation between DVLU and JMOM is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018	0.69

The correlation between DVLU and JMOM has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

DVLU vs. JMOM — Risk / Return Rank

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

DVLU

DVLU Risk / Return Rank: 69
DVLU Sharpe Ratio Rank: 75
DVLU Sortino Ratio Rank: 73
DVLU Omega Ratio Rank: 69
DVLU Calmar Ratio Rank: 64
DVLU Martin Ratio Rank: 63

JMOM

JMOM Risk / Return Rank: 85
JMOM Sharpe Ratio Rank: 83
JMOM Sortino Ratio Rank: 80
JMOM Omega Ratio Rank: 78
JMOM Calmar Ratio Rank: 88
JMOM Martin Ratio Rank: 93

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.

DVLU vs. JMOM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Value ETF (DVLU) and JPMorgan U.S. Momentum Factor ETF (JMOM). 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	JMOM	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.53	-0.24
Sortino ratio: Return per unit of downside risk	3.16	3.40	-0.25
Omega ratio: Gain probability vs. loss probability	1.40	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	3.08	4.98	-1.90
Martin ratio: Return relative to average drawdown	11.11	22.49	-11.37

DVLU vs. JMOM - Sharpe Ratio Comparison

The current DVLU Sharpe Ratio is 2.30, which is comparable to the JMOM Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of DVLU and JMOM, 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

DVLU vs. JMOM - Drawdown Comparison

The maximum DVLU drawdown since its inception was -53.26%, which is greater than JMOM's maximum drawdown of -34.31%. Use the drawdown chart below to compare losses from any high point for DVLU and JMOM.

Drawdown Indicators

	DVLU	JMOM	Difference
Max Drawdown Largest peak-to-trough decline	-53.26%	-34.31%	-18.95%
Max Drawdown (1Y) Largest decline over 1 year	-12.24%	-7.87%	-4.37%
Max Drawdown (3Y) Largest decline over 3 years	-24.86%	-19.51%	-5.35%
Max Drawdown (5Y) Largest decline over 5 years	-24.86%	-28.26%	+3.40%
Current Drawdown Current decline from peak	-0.95%	0.00%	-0.95%
Average Drawdown Average peak-to-trough decline	-8.73%	-6.29%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	1.74%	+1.65%

Volatility

DVLU vs. JMOM - Volatility Comparison

The current volatility for First Trust Dorsey Wright Momentum & Value ETF (DVLU) is 3.70%, while JPMorgan U.S. Momentum Factor ETF (JMOM) has a volatility of 6.69%. This indicates that DVLU experiences smaller price fluctuations and is considered to be less risky than JMOM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVLU	JMOM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	6.69%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	12.34%	12.85%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	16.46%	15.49%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.39%	18.83%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.74%	20.18%	+5.56%

DVLU vs. JMOM - Expense Ratio Comparison

DVLU has a 0.60% expense ratio, which is higher than JMOM's 0.12% expense ratio.

Dividends

DVLU vs. JMOM - Dividend Comparison

DVLU's dividend yield for the trailing twelve months is around 0.62%, less than JMOM's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	0.00%
JMOM JPMorgan U.S. Momentum Factor ETF	0.70%	0.86%	0.75%	1.21%	1.39%	0.64%	0.85%	1.11%	1.38%	0.29%

Frequently Asked Questions

Can I hold both DVLU and JMOM in my portfolio?

DVLU and JMOM have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVLU or JMOM?

JMOM has higher volatility (6.69%) compared to DVLU (3.70%). In terms of maximum drawdown, DVLU dropped -53.26% vs JMOM's -34.31%.

Which ETF is better, DVLU or JMOM?

On 5-year performance, JMOM leads with 15.85% vs 12.44% for DVLU. On fees, JMOM is cheaper at 0.12% per year. On volatility, DVLU has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVLU or JMOM?

Over the 5-year period, JMOM has performed better with a 15.85% return vs 12.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVLU or JMOM?

JMOM is cheaper with a 0.12% expense ratio, compared with 0.60% for DVLU.

Which ETF pays a higher dividend yield, DVLU or JMOM?

JMOM has the higher dividend yield at 0.70%, compared with 0.62% for DVLU.

What is the main difference between DVLU and JMOM?

DVLU tracks Dorsey Wright Momentum Plus Value Index, while JMOM tracks JP Morgan US Momentum Factor Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.60% for DVLU and 0.12% for JMOM.

Which has better risk-adjusted returns?

JMOM currently has the higher Sharpe Ratio (2.53 vs 2.30), 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.