DVXF vs. DVSP

Last updated Jun 4, 2026

DVXF (WEBs Financial XLF Defined Volatility ETF) and DVSP (WEBs SPY Defined Volatility ETF) are both exchange-traded funds - DVXF is a Financials Equities fund tracking the Syntax Defined Volatility XLF Index, while DVSP is a Large Cap Blend Equities fund tracking the Syntax Defined Volatility US Large Cap 500 Index. Both are passively managed. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.89% expense ratio.

Performance

DVXF vs. DVSP - Performance Comparison

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

Returns By Period

In the year-to-date period, DVXF achieves a -14.23% return, which is significantly lower than DVSP's 9.88% return.

DVXF

• 1D: -2.29%
• 1M: -3.22%
• YTD: -14.23%
• 6M: -10.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DVSP

• 1D: -1.34%
• 1M: 8.93%
• YTD: 9.88%
• 6M: 9.36%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DVXF vs. DVSP - Yearly Performance Comparison

	2026 (YTD)	2025
DVXF WEBs Financial XLF Defined Volatility ETF	-14.23%	3.87%
DVSP WEBs SPY Defined Volatility ETF	9.88%	10.92%

Correlation

The correlation between DVXF and DVSP is 0.58, 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 24, 2025	0.58

Return for Risk

DVXF vs. DVSP — Risk / Return Rank

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

DVSP

DVSP Risk / Return Rank: 50
DVSP Sharpe Ratio Rank: 53
DVSP Sortino Ratio Rank: 49
DVSP Omega Ratio Rank: 50
DVSP Calmar Ratio Rank: 47
DVSP Martin Ratio Rank: 53

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.

DVXF vs. DVSP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Financial XLF Defined Volatility ETF (DVXF) and WEBs SPY Defined Volatility ETF (DVSP). 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.

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

Sharpe Ratios by Period

	DVXF	DVSP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.61	-1.07

Drawdowns

DVXF vs. DVSP - Drawdown Comparison

The maximum DVXF drawdown since its inception was -26.68%, which is greater than DVSP's maximum drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for DVXF and DVSP.

Drawdown Indicators

	DVXF	DVSP	Difference
Max Drawdown Largest peak-to-trough decline	-26.68%	-22.67%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.56%	—
Current Drawdown Current decline from peak	-18.95%	-1.34%	-17.61%
Average Drawdown Average peak-to-trough decline	-9.32%	-5.54%	-3.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.96%	—

Volatility

Volatility by Period

	DVXF	DVSP	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.56%	—
Volatility (1Y) Calculated over the trailing 1-year period	27.54%	19.94%	+7.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.54%	21.85%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.54%	21.85%	+5.69%

DVXF vs. DVSP - Expense Ratio Comparison

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

Dividends

DVXF vs. DVSP - Dividend Comparison

DVXF has not paid dividends to shareholders, while DVSP's dividend yield for the trailing twelve months is around 0.25%.

Position	TTM	2025
DVSP WEBs SPY Defined Volatility ETF	0.25%	0.28%
DVXF WEBs Financial XLF Defined Volatility ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVXF and DVSP in my portfolio?

DVXF and DVSP have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DVXF or DVSP?

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, DVXF or DVSP?

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

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

DVSP has the higher dividend yield at 0.25%, compared with 0.00% for DVXF.

What is the main difference between DVXF and DVSP?

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