DVSP vs. DVUT

Last updated Jun 23, 2026

DVSP (WEBs SPY Defined Volatility ETF) and DVUT (WEBs Utilities XLU Defined Volatility ETF) are both exchange-traded funds - DVSP is a Large Cap Blend Equities fund tracking the Syntax Defined Volatility US Large Cap 500 Index, while DVUT is a Utilities Equities fund tracking the Syntax Defined Volatility XLU Index. Both are passively managed. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.89% expense ratio.

Performance

DVSP vs. DVUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs SPY Defined Volatility ETF (DVSP) and WEBs Utilities XLU Defined Volatility ETF (DVUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DVSP having a 6.10% return and DVUT slightly higher at 6.30%.

DVSP

• 1D: -0.66%
• 1M: -1.54%
• YTD: 6.10%
• 6M: 5.07%
• 1Y: 31.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DVUT

• 1D: 0.68%
• 1M: -2.07%
• YTD: 6.30%
• 6M: 7.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DVSP vs. DVUT - Yearly Performance Comparison

	2026 (YTD)	2025
DVSP WEBs SPY Defined Volatility ETF	6.10%	12.23%
DVUT WEBs Utilities XLU Defined Volatility ETF	6.30%	2.12%

Correlation

The correlation between DVSP and DVUT is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.20

Return for Risk

DVSP vs. DVUT — Risk / Return Rank

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

DVSP

DVSP Risk / Return Rank: 43
DVSP Sharpe Ratio Rank: 45
DVSP Sortino Ratio Rank: 41
DVSP Omega Ratio Rank: 42
DVSP Calmar Ratio Rank: 42
DVSP Martin Ratio Rank: 47

DVUT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DVSP vs. DVUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs SPY Defined Volatility ETF (DVSP) and WEBs Utilities XLU Defined Volatility ETF (DVUT). 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.

	DVSP	DVUT	Difference
Sharpe ratio: Return per unit of total volatility	1.52	—	—
Sortino ratio: Return per unit of downside risk	2.02	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.04	—	—
Martin ratio: Return relative to average drawdown	7.70	—	—

Drawdowns

DVSP vs. DVUT - Drawdown Comparison

The maximum DVSP drawdown since its inception was -22.71%, which is greater than DVUT's maximum drawdown of -18.27%. Use the drawdown chart below to compare losses from any high point for DVSP and DVUT.

Drawdown Indicators

	DVSP	DVUT	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-18.27%	-4.44%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	—	—
Current Drawdown Current decline from peak	-4.74%	-11.05%	+6.31%
Average Drawdown Average peak-to-trough decline	-5.52%	-7.85%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	—	—

Volatility

Volatility by Period

	DVSP	DVUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.88%	26.28%	-5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.23%	26.28%	-4.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	26.28%	-4.05%

DVSP vs. DVUT - Expense Ratio Comparison

Both DVSP and DVUT have an expense ratio of 0.89%.

Dividends

DVSP vs. DVUT - Dividend Comparison

DVSP's dividend yield for the trailing twelve months is around 0.26%, while DVUT has not paid dividends to shareholders.

Position	TTM	2025
DVSP WEBs SPY Defined Volatility ETF	0.26%	0.28%
DVUT WEBs Utilities XLU Defined Volatility ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVSP and DVUT in my portfolio?

DVSP and DVUT have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DVSP or DVUT?

Both ETFs have the same 0.89% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVSP or DVUT?

DVSP and DVUT have the same expense ratio: 0.89% per year.

Which ETF pays a higher dividend yield, DVSP or DVUT?

DVSP has the higher dividend yield at 0.26%, compared with 0.00% for DVUT.

What is the main difference between DVSP and DVUT?

DVSP is categorized as Large Cap Blend Equities, while DVUT is Utilities Equities. DVSP tracks Syntax Defined Volatility US Large Cap 500 Index, while DVUT tracks Syntax Defined Volatility XLU Index.