DVLU vs. ULVM
DVLU (First Trust Dorsey Wright Momentum & Value ETF) and ULVM (VictoryShares US Value Momentum ETF) are both Momentum funds - DVLU tracks the Dorsey Wright Momentum Plus Value Index while ULVM tracks the Nasdaq Victory US Value Momentum Index. Both are passively managed. Over the past 5 years, DVLU returned 13.44%/yr vs 12.58%/yr for ULVM. Their correlation of 0.83 means they have usually moved in the same direction. DVLU charges 0.60%/yr vs 0.20%/yr for ULVM.
Performance
DVLU vs. ULVM - Performance Comparison
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Returns By Period
In the year-to-date period, DVLU achieves a 16.38% return, which is significantly lower than ULVM's 20.68% return.
DVLU
- 1D
- 1.30%
- 1M
- 5.20%
- 6M
- 13.95%
- YTD
- 16.38%
- 1Y
- 41.19%
- 3Y*
- 20.69%
- 5Y*
- 13.44%
- 10Y*
- —
- ALL TIME*
- 11.41%
ULVM
- 1D
- 0.52%
- 1M
- 2.38%
- 6M
- 15.05%
- YTD
- 20.68%
- 1Y
- 31.64%
- 3Y*
- 21.35%
- 5Y*
- 12.58%
- 10Y*
- —
- ALL TIME*
- 11.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $183.55K | $173.51K | $204.38K | |
| $288.05K | $259.30K | $220.93K |
DVLU vs. ULVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 16.38% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
ULVM VictoryShares US Value Momentum ETF | 20.68% | 15.84% | 19.76% | 10.16% | -9.04% | 31.06% | 3.51% | 22.08% | -15.01% |
Correlation
The correlation between DVLU and ULVM is 0.82, 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. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.83 |
The correlation between DVLU and ULVM has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
DVLU vs. ULVM — Risk / Return Rank
DVLU
ULVM
DVLU vs. ULVM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Value ETF (DVLU) and VictoryShares US Value Momentum ETF (ULVM). 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 | ULVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.53 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.38 | 4.91 | -1.53 |
| Martin ratioReturn relative to average drawdown | 12.32 | 20.68 | -8.36 |
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Drawdowns
DVLU vs. ULVM - Drawdown Comparison
The maximum DVLU drawdown since its inception was -53.26%, which is greater than ULVM's maximum drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for DVLU and ULVM.
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Drawdown Indicators
| DVLU | ULVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.26% | -40.71% | -12.55% |
Max Drawdown (1Y)Largest decline over 1 year | -12.24% | -6.47% | -5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -18.14% | -6.72% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -19.77% | -5.09% |
Current DrawdownCurrent decline from peak | -0.10% | -0.74% | +0.64% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -5.65% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.35% | 1.53% | +1.82% |
Volatility
DVLU vs. ULVM - Volatility Comparison
First Trust Dorsey Wright Momentum & Value ETF (DVLU) has a higher volatility of 4.30% compared to VictoryShares US Value Momentum ETF (ULVM) at 2.71%. This indicates that DVLU's price experiences larger fluctuations and is considered to be riskier than ULVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVLU | ULVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 2.71% | +1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.00% | 8.10% | +3.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.47% | 10.77% | +5.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.14% | 15.38% | +5.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.60% | 18.72% | +6.88% |
DVLU vs. ULVM - Expense Ratio Comparison
DVLU has a 0.60% expense ratio, which is higher than ULVM's 0.20% expense ratio.
Dividends
DVLU vs. ULVM - Dividend Comparison
DVLU's dividend yield for the trailing twelve months is around 0.65%, less than ULVM's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.65% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% |
ULVM VictoryShares US Value Momentum ETF | 1.61% | 1.81% | 1.57% | 1.94% | 1.91% | 1.36% | 1.51% | 1.88% | 1.67% | 0.38% |
Frequently Asked Questions
DVLU and ULVM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DVLU has higher volatility (4.30%) compared to ULVM (2.71%). In terms of maximum drawdown, DVLU dropped -53.26% vs ULVM's -40.71%.
On 5-year performance, DVLU leads with 13.44% vs 12.58% for ULVM. On fees, ULVM is cheaper at 0.20% per year. On volatility, ULVM has been the lower-risk option at 2.71%. 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 13.44% return vs 12.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ULVM is cheaper with a 0.20% expense ratio, compared with 0.60% for DVLU.
ULVM has the higher dividend yield at 1.61%, compared with 0.65% for DVLU.
DVLU tracks Dorsey Wright Momentum Plus Value Index, while ULVM tracks Nasdaq Victory US Value Momentum Index. They also come from different issuers: First Trust and Victory. Their fees differ too: 0.60% for DVLU and 0.20% for ULVM.
ULVM currently has the higher Sharpe Ratio (2.96 vs 2.52), 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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