DVSP vs. DVXF

Last updated Jun 24, 2026

DVSP (WEBs SPY Defined Volatility ETF) and DVXF (WEBs Financial XLF 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 DVXF is a Financials Equities fund tracking the Syntax Defined Volatility XLF Index. Both are passively managed. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.89% expense ratio.

Performance

DVSP vs. DVXF - Performance Comparison

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

Returns By Period

In the year-to-date period, DVSP achieves a 4.43% return, which is significantly higher than DVXF's -3.59% return.

DVSP

• 1D: -1.57%
• 1M: -3.09%
• YTD: 4.43%
• 6M: 2.58%
• 1Y: 27.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DVXF

• 1D: 0.75%
• 1M: 7.59%
• YTD: -3.59%
• 6M: -6.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DVSP vs. DVXF - Yearly Performance Comparison

	2026 (YTD)	2025
DVSP WEBs SPY Defined Volatility ETF	4.43%	12.23%
DVXF WEBs Financial XLF Defined Volatility ETF	-3.59%	5.63%

Correlation

The correlation between DVSP and DVXF is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.55

Return for Risk

DVSP vs. DVXF — Risk / Return Rank

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

DVSP

DVSP Risk / Return Rank: 40
DVSP Sharpe Ratio Rank: 41
DVSP Sortino Ratio Rank: 37
DVSP Omega Ratio Rank: 38
DVSP Calmar Ratio Rank: 38
DVSP Martin Ratio Rank: 44

DVXF

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. DVXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs SPY Defined Volatility ETF (DVSP) and WEBs Financial XLF Defined Volatility ETF (DVXF). 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	DVXF	Difference
Sharpe ratio: Return per unit of total volatility	1.33	—	—
Sortino ratio: Return per unit of downside risk	1.79	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.78	—	—
Martin ratio: Return relative to average drawdown	6.68	—	—

Drawdowns

DVSP vs. DVXF - Drawdown Comparison

The maximum DVSP drawdown since its inception was -22.71%, smaller than the maximum DVXF drawdown of -26.68%. Use the drawdown chart below to compare losses from any high point for DVSP and DVXF.

Drawdown Indicators

	DVSP	DVXF	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-26.68%	+3.97%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	—	—
Current Drawdown Current decline from peak	-6.24%	-8.91%	+2.67%
Average Drawdown Average peak-to-trough decline	-5.53%	-9.43%	+3.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	—	—

Volatility

Volatility by Period

	DVSP	DVXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.91%	27.84%	-6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.24%	27.84%	-5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.24%	27.84%	-5.60%

DVSP vs. DVXF - Expense Ratio Comparison

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

Dividends

DVSP vs. DVXF - Dividend Comparison

DVSP's dividend yield for the trailing twelve months is around 0.27%, while DVXF has not paid dividends to shareholders.

Position	TTM	2025
DVSP WEBs SPY Defined Volatility ETF	0.27%	0.28%
DVXF WEBs Financial XLF Defined Volatility ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVSP and DVXF in my portfolio?

DVSP and DVXF have a correlation of 0.55, 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 DVXF?

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 DVXF?

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

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

DVSP has the higher dividend yield at 0.27%, compared with 0.00% for DVXF.

What is the main difference between DVSP and DVXF?

DVSP is categorized as Large Cap Blend Equities, while DVXF is Financials Equities. DVSP tracks Syntax Defined Volatility US Large Cap 500 Index, while DVXF tracks Syntax Defined Volatility XLF Index.