DVXB vs. SETM

Last updated Aug 1, 2026

DVXB (WEBs Materials XLB Defined Volatility ETF) and SETM (Sprott Critical Materials ETF) are both Materials funds - DVXB tracks the Syntax Defined Volatility XLB Index while SETM tracks the Nasdaq Sprott Critical Materials Index. Both are passively managed. Over the past year, DVXB returned 20.35% vs 55.17% for SETM. Their 0.54 correlation means they have sometimes moved together and sometimes differently. DVXB charges 0.89%/yr vs 0.65%/yr for SETM.

Performance

DVXB vs. SETM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Materials XLB Defined Volatility ETF (DVXB) and Sprott Critical Materials ETF (SETM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVXB achieves a 15.12% return, which is significantly higher than SETM's -1.66% return.

DVXB

• 1D: -3.82%
• 1M: -4.08%
• 6M: -0.84%
• YTD: 15.12%
• 1Y: 20.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.74%

SETM

• 1D: -2.30%
• 1M: -8.93%
• 6M: -18.02%
• YTD: -1.66%
• 1Y: 55.17%
• 3Y*: 18.39%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVXB WEBs Materials XLB Defined Volatility ETF	$1.05K	$1.06K	$4.38K
SETM Sprott Critical Materials ETF	$3.56M	$4.68M	$7.65M

DVXB vs. SETM - Yearly Performance Comparison

	2026 (YTD)	2025
DVXB WEBs Materials XLB Defined Volatility ETF	15.12%	-6.27%
SETM Sprott Critical Materials ETF	-1.66%	41.48%

Correlation

The correlation between DVXB and SETM is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.54
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.54

The correlation between DVXB and SETM has been stable across timeframes, ranging from 0.54 to 0.54 - a consistent structural relationship.

Return for Risk

DVXB vs. SETM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DVXB

DVXB Risk / Return Rank: 27
DVXB Sharpe Ratio Rank: 26
DVXB Sortino Ratio Rank: 27
DVXB Omega Ratio Rank: 26
DVXB Calmar Ratio Rank: 28
DVXB Martin Ratio Rank: 26

SETM

SETM Risk / Return Rank: 49
SETM Sharpe Ratio Rank: 50
SETM Sortino Ratio Rank: 48
SETM Omega Ratio Rank: 48
SETM Calmar Ratio Rank: 54
SETM Martin Ratio Rank: 43

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DVXB vs. SETM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Materials XLB Defined Volatility ETF (DVXB) and Sprott Critical Materials ETF (SETM). 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.

	DVXB	SETM	Difference
Sharpe ratio: Return per unit of total volatility	0.59	1.23	-0.64
Sortino ratio: Return per unit of downside risk	1.02	1.71	-0.69
Omega ratio: Gain probability vs. loss probability	1.12	1.22	-0.10
Calmar ratio: Return relative to maximum drawdown	0.91	1.91	-1.00
Martin ratio: Return relative to average drawdown	2.08	4.72	-2.64

DVXB vs. SETM - Sharpe Ratio Comparison

The current DVXB Sharpe Ratio is 0.59, which is lower than the SETM Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of DVXB and SETM, 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

DVXB vs. SETM - Drawdown Comparison

The maximum DVXB drawdown since its inception was -19.77%, smaller than the maximum SETM drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for DVXB and SETM.

Drawdown Indicators

	DVXB	SETM	Difference
Max Drawdown Largest peak-to-trough decline	-19.77%	-42.81%	+23.04%
Max Drawdown (1Y) Largest decline over 1 year	-19.77%	-30.05%	+10.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.81%	—
Current Drawdown Current decline from peak	-12.78%	-28.34%	+15.56%
Average Drawdown Average peak-to-trough decline	-7.54%	-15.34%	+7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.63%	12.14%	-3.51%

Volatility

DVXB vs. SETM - Volatility Comparison

The current volatility for WEBs Materials XLB Defined Volatility ETF (DVXB) is 8.95%, while Sprott Critical Materials ETF (SETM) has a volatility of 12.15%. This indicates that DVXB experiences smaller price fluctuations and is considered to be less risky than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVXB	SETM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.95%	12.15%	-3.20%
Volatility (6M) Calculated over the trailing 6-month period	22.87%	37.35%	-14.48%
Volatility (1Y) Calculated over the trailing 1-year period	30.49%	46.79%	-16.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.60%	37.25%	-6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.60%	37.25%	-6.65%

DVXB vs. SETM - Expense Ratio Comparison

DVXB has a 0.89% expense ratio, which is higher than SETM's 0.65% expense ratio.

Dividends

DVXB vs. SETM - Dividend Comparison

DVXB has not paid dividends to shareholders, while SETM's dividend yield for the trailing twelve months is around 1.59%.

Position	TTM	2025	2024	2023
DVXB WEBs Materials XLB Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%
SETM Sprott Critical Materials ETF	1.59%	1.56%	2.07%	2.47%

Frequently Asked Questions

Can I hold both DVXB and SETM in my portfolio?

DVXB and SETM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVXB or SETM?

SETM has higher volatility (12.15%) compared to DVXB (8.95%). In terms of maximum drawdown, DVXB dropped -19.77% vs SETM's -42.81%.

Which ETF is better, DVXB or SETM?

On 1-year performance, SETM leads with 55.17% vs 20.35% for DVXB. On fees, SETM is cheaper at 0.65% per year. On volatility, DVXB has been the lower-risk option at 8.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVXB or SETM?

Over the 1-year period, SETM has performed better with a 55.17% return vs 20.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVXB or SETM?

SETM is cheaper with a 0.65% expense ratio, compared with 0.89% for DVXB.

Which ETF pays a higher dividend yield, DVXB or SETM?

SETM has the higher dividend yield at 1.59%, compared with 0.00% for DVXB.

What is the main difference between DVXB and SETM?

DVXB tracks Syntax Defined Volatility XLB Index, while SETM tracks Nasdaq Sprott Critical Materials Index. They also come from different issuers: WEBs and Sprott. Their fees differ too: 0.89% for DVXB and 0.65% for SETM.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (1.23 vs 0.59), 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.