DVSP vs. VTI

Last updated Jun 23, 2026

DVSP (WEBs SPY Defined Volatility ETF) and VTI (Vanguard Total Stock Market ETF) are both Large Cap Blend Equities funds - DVSP tracks the Syntax Defined Volatility US Large Cap 500 Index while VTI tracks the CRSP US Total Market Index. Both are passively managed. Over the past year, DVSP returned 31.58% vs 27.18% for VTI. With a 0.96 correlation, they move nearly in lockstep. DVSP charges 0.89%/yr vs 0.03%/yr for VTI.

Performance

DVSP vs. VTI - Performance Comparison

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

Returns By Period

In the year-to-date period, DVSP achieves a 6.10% return, which is significantly lower than VTI's 10.35% return.

DVSP

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

VTI

• 1D: -0.32%
• 1M: 0.55%
• YTD: 10.35%
• 6M: 9.59%
• 1Y: 27.18%
• 3Y*: 21.19%
• 5Y*: 12.36%
• 10Y*: 15.31%

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

DVSP vs. VTI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DVSP WEBs SPY Defined Volatility ETF	6.10%	15.57%	-5.64%
VTI Vanguard Total Stock Market ETF	10.35%	17.10%	-3.46%

Correlation

The correlation between DVSP and VTI is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 17, 2024	0.96

The correlation between DVSP and VTI has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

DVSP vs. VTI — 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

VTI

VTI Risk / Return Rank: 68
VTI Sharpe Ratio Rank: 68
VTI Sortino Ratio Rank: 66
VTI Omega Ratio Rank: 67
VTI Calmar Ratio Rank: 64
VTI Martin Ratio Rank: 74

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. VTI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs SPY Defined Volatility ETF (DVSP) and Vanguard Total Stock Market ETF (VTI). 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	VTI	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.14	-0.62
Sortino ratio: Return per unit of downside risk	2.02	2.90	-0.88
Omega ratio: Gain probability vs. loss probability	1.27	1.38	-0.12
Calmar ratio: Return relative to maximum drawdown	2.04	3.06	-1.02
Martin ratio: Return relative to average drawdown	7.70	13.68	-5.98

DVSP vs. VTI - Sharpe Ratio Comparison

The current DVSP Sharpe Ratio is 1.52, which is comparable to the VTI Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of DVSP and VTI, 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

DVSP vs. VTI - Drawdown Comparison

The maximum DVSP drawdown since its inception was -22.71%, smaller than the maximum VTI drawdown of -55.45%. Use the drawdown chart below to compare losses from any high point for DVSP and VTI.

Drawdown Indicators

	DVSP	VTI	Difference
Max Drawdown Largest peak-to-trough decline	-22.71%	-55.45%	+32.74%
Max Drawdown (1Y) Largest decline over 1 year	-15.56%	-8.92%	-6.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-4.74%	-1.48%	-3.26%
Average Drawdown Average peak-to-trough decline	-5.52%	-8.01%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.11%	1.99%	+2.12%

Volatility

DVSP vs. VTI - Volatility Comparison

WEBs SPY Defined Volatility ETF (DVSP) has a higher volatility of 7.63% compared to Vanguard Total Stock Market ETF (VTI) at 4.74%. This indicates that DVSP's price experiences larger fluctuations and is considered to be riskier than VTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVSP	VTI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	4.74%	+2.89%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	9.96%	+5.89%
Volatility (1Y) Calculated over the trailing 1-year period	20.88%	12.76%	+8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.23%	17.49%	+4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	18.35%	+3.88%

DVSP vs. VTI - Expense Ratio Comparison

DVSP has a 0.89% expense ratio, which is higher than VTI's 0.03% expense ratio.

Dividends

DVSP vs. VTI - Dividend Comparison

DVSP's dividend yield for the trailing twelve months is around 0.26%, less than VTI's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVSP WEBs SPY Defined Volatility ETF	0.26%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTI Vanguard Total Stock Market ETF	1.02%	1.12%	1.27%	1.44%	1.66%	1.21%	1.42%	1.78%	2.04%	1.71%	1.92%	1.98%

Frequently Asked Questions

Can I hold both DVSP and VTI in my portfolio?

With a correlation of 0.96, DVSP and VTI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DVSP or VTI?

DVSP has higher volatility (7.63%) compared to VTI (4.74%). In terms of maximum drawdown, DVSP dropped -22.71% vs VTI's -55.45%.

Which ETF is better, DVSP or VTI?

On 1-year performance, DVSP leads with 31.58% vs 27.18% for VTI. On fees, VTI is cheaper at 0.03% per year. On volatility, VTI has been the lower-risk option at 4.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVSP or VTI?

Over the 1-year period, DVSP has performed better with a 31.58% return vs 27.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVSP or VTI?

VTI is cheaper with a 0.03% expense ratio, compared with 0.89% for DVSP.

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

VTI has the higher dividend yield at 1.02%, compared with 0.26% for DVSP.

What is the main difference between DVSP and VTI?

DVSP tracks Syntax Defined Volatility US Large Cap 500 Index, while VTI tracks CRSP US Total Market Index. They also come from different issuers: WEBs and Vanguard. Their fees differ too: 0.89% for DVSP and 0.03% for VTI.

Which has better risk-adjusted returns?

VTI currently has the higher Sharpe Ratio (2.14 vs 1.52), 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.