DVOL vs. CIBR

Last updated Jun 3, 2026

DVOL (First Trust Dorsey Wright Momentum & Low Volatility ETF) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - DVOL is a Momentum fund tracking the Dorsey Wright Momentum Plus Low Volatility Index, while CIBR is a Technology Equities fund tracking the Nasdaq CTA Cybersecurity Index. Both are passively managed. Over the past 5 years, DVOL returned 6.89%/yr vs 17.20%/yr for CIBR. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

DVOL vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVOL achieves a 1.20% return, which is significantly lower than CIBR's 32.24% return.

DVOL

• 1D: 0.45%
• 1M: -4.01%
• YTD: 1.20%
• 6M: 2.04%
• 1Y: 0.20%
• 3Y*: 12.63%
• 5Y*: 6.89%
• 10Y*: —

CIBR

• 1D: 0.18%
• 1M: 37.17%
• YTD: 32.24%
• 6M: 29.33%
• 1Y: 30.75%
• 3Y*: 29.54%
• 5Y*: 17.20%
• 10Y*: 18.83%

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

DVOL vs. CIBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF	1.20%	4.30%	24.84%	5.39%	-16.10%	30.08%	11.15%	26.10%	-9.89%
CIBR First Trust NASDAQ Cybersecurity ETF	32.24%	13.06%	18.21%	39.71%	-26.46%	19.67%	50.53%	28.52%	-17.28%

Correlation

The correlation between DVOL and CIBR is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018	0.52

Over the past year, the correlation between DVOL and CIBR has dropped to 0.21 - well below their long-term average of 0.52, suggesting their price drivers have been diverging.

DVOL vs. CIBR - Sectors Allocation Comparison

Sectors	DVOL	CIBR
Financial Services	18.8%	-
Industrials	16.6%	3.5%
Energy	14.0%	-
Real Estate	12.1%	-
Consumer Cyclical	9.4%	-
Consumer Defensive	8.2%	-
Basic Materials	6.0%	-
Technology	4.7%	94.0%
Healthcare	3.7%	-
Communication Services	3.6%	2.6%
Utilities	3.0%	-

Return for Risk

DVOL vs. CIBR — Risk / Return Rank

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

DVOL

DVOL Risk / Return Rank: 9
DVOL Sharpe Ratio Rank: 9
DVOL Sortino Ratio Rank: 8
DVOL Omega Ratio Rank: 9
DVOL Calmar Ratio Rank: 9
DVOL Martin Ratio Rank: 9

CIBR

CIBR Risk / Return Rank: 32
CIBR Sharpe Ratio Rank: 35
CIBR Sortino Ratio Rank: 34
CIBR Omega Ratio Rank: 35
CIBR Calmar Ratio Rank: 30
CIBR Martin Ratio Rank: 25

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.

DVOL vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	DVOL	CIBR	Difference
Sharpe ratio Return per unit of total volatility	0.02	1.27	-1.25
Sortino ratio Return per unit of downside risk	0.11	1.82	-1.71
Omega ratio Gain probability vs. loss probability	1.01	1.23	-0.22
Calmar ratio Return relative to maximum drawdown	0.04	1.46	-1.42
Martin ratio Return relative to average drawdown	0.14	3.47	-3.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DVOL vs. CIBR - Sharpe Ratio Comparison

The current DVOL Sharpe Ratio is 0.02, which is lower than the CIBR Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of DVOL and CIBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DVOL	CIBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.02	1.27	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.69	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.68	-0.18

Drawdowns

DVOL vs. CIBR - Drawdown Comparison

The maximum DVOL drawdown since its inception was -38.26%, which is greater than CIBR's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for DVOL and CIBR.

Drawdown Indicators

	DVOL	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-38.26%	-33.89%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.82%	-21.99%	+12.17%
Max Drawdown (3Y) Largest decline over 3 years	-11.66%	-21.99%	+10.33%
Max Drawdown (5Y) Largest decline over 5 years	-24.65%	-33.89%	+9.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.89%	—
Current Drawdown Current decline from peak	-5.24%	0.00%	-5.24%
Average Drawdown Average peak-to-trough decline	-7.18%	-8.66%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	9.25%	-6.34%

Volatility

DVOL vs. CIBR - Volatility Comparison

The current volatility for First Trust Dorsey Wright Momentum & Low Volatility ETF (DVOL) is 2.87%, while First Trust NASDAQ Cybersecurity ETF (CIBR) has a volatility of 9.99%. This indicates that DVOL experiences smaller price fluctuations and is considered to be less risky than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVOL	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	9.99%	-7.12%
Volatility (6M) Calculated over the trailing 6-month period	9.40%	20.72%	-11.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.78%	24.34%	-12.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.40%	24.93%	-10.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	23.58%	-5.85%

DVOL vs. CIBR - Expense Ratio Comparison

Both DVOL and CIBR have an expense ratio of 0.60%.

Dividends

DVOL vs. CIBR - Dividend Comparison

DVOL's dividend yield for the trailing twelve months is around 0.69%, more than CIBR's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.43%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
DVOL First Trust Dorsey Wright Momentum & Low Volatility ETF	0.69%	0.86%	0.67%	1.28%	1.37%	0.47%	0.60%	1.79%	0.39%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVOL and CIBR in my portfolio?

DVOL and CIBR have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVOL or CIBR?

CIBR has higher volatility (9.99%) compared to DVOL (2.87%). In terms of maximum drawdown, DVOL dropped -38.26% vs CIBR's -33.89%.

Which ETF is better, DVOL or CIBR?

On 5-year performance, CIBR leads with 17.20% vs 6.89% for DVOL. Both ETFs have the same 0.60% expense ratio. On volatility, DVOL has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVOL or CIBR?

Over the 5-year period, CIBR has performed better with a 17.20% return vs 6.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVOL or CIBR?

DVOL and CIBR have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, DVOL or CIBR?

DVOL has the higher dividend yield at 0.69%, compared with 0.43% for CIBR.

What is the main difference between DVOL and CIBR?

DVOL is categorized as Momentum, while CIBR is Technology Equities. DVOL tracks Dorsey Wright Momentum Plus Low Volatility Index, while CIBR tracks Nasdaq CTA Cybersecurity Index.

Which has better risk-adjusted returns?

CIBR currently has the higher Sharpe Ratio (1.27 vs 0.02), 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.