DVXV vs. FHLC

Last updated Jun 4, 2026

DVXV (WEBs Health Care XLV Defined Volatility ETF) and FHLC (Fidelity MSCI Health Care Index ETF) are both Health & Biotech Equities funds - DVXV tracks the Syntax Defined Volatility XLV Index while FHLC tracks the MSCI USA IMI Health Care Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. DVXV charges 0.89%/yr vs 0.08%/yr for FHLC.

Performance

DVXV vs. FHLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Health Care XLV Defined Volatility ETF (DVXV) and Fidelity MSCI Health Care Index ETF (FHLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVXV achieves a -6.26% return, which is significantly lower than FHLC's -3.90% return.

DVXV

• 1D: 1.22%
• 1M: 2.40%
• YTD: -6.26%
• 6M: -6.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FHLC

• 1D: 0.82%
• 1M: 1.50%
• YTD: -3.90%
• 6M: -4.11%
• 1Y: 14.43%
• 3Y*: 6.14%
• 5Y*: 4.50%
• 10Y*: 9.14%

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

DVXV vs. FHLC - Yearly Performance Comparison

	2026 (YTD)	2025
DVXV WEBs Health Care XLV Defined Volatility ETF	-6.26%	21.27%
FHLC Fidelity MSCI Health Care Index ETF	-3.90%	15.61%

Correlation

The correlation between DVXV and FHLC is 0.98 - 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 (All Time) Calculated using the full available price history since Jul 24, 2025	0.98

Return for Risk

DVXV vs. FHLC — Risk / Return Rank

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

FHLC

FHLC Risk / Return Rank: 27
FHLC Sharpe Ratio Rank: 27
FHLC Sortino Ratio Rank: 29
FHLC Omega Ratio Rank: 26
FHLC Calmar Ratio Rank: 28
FHLC Martin Ratio Rank: 26

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.

DVXV vs. FHLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Health Care XLV Defined Volatility ETF (DVXV) and Fidelity MSCI Health Care Index ETF (FHLC). 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

	DVXV	FHLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.75	0.61	+0.15

Drawdowns

DVXV vs. FHLC - Drawdown Comparison

The maximum DVXV drawdown since its inception was -14.36%, smaller than the maximum FHLC drawdown of -28.76%. Use the drawdown chart below to compare losses from any high point for DVXV and FHLC.

Drawdown Indicators

	DVXV	FHLC	Difference
Max Drawdown Largest peak-to-trough decline	-14.36%	-28.76%	+14.40%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.76%	—
Current Drawdown Current decline from peak	-10.72%	-6.96%	-3.76%
Average Drawdown Average peak-to-trough decline	-4.79%	-5.19%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.11%	—

Volatility

Volatility by Period

	DVXV	FHLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.33%	14.33%	+7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.33%	14.97%	+6.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.33%	16.81%	+4.52%

DVXV vs. FHLC - Expense Ratio Comparison

DVXV has a 0.89% expense ratio, which is higher than FHLC's 0.08% expense ratio.

Dividends

DVXV vs. FHLC - Dividend Comparison

DVXV has not paid dividends to shareholders, while FHLC's dividend yield for the trailing twelve months is around 1.43%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXV WEBs Health Care XLV Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FHLC Fidelity MSCI Health Care Index ETF	1.43%	1.40%	1.51%	1.40%	1.30%	1.16%	1.45%	1.18%	1.38%	1.38%	1.40%	2.07%

Frequently Asked Questions

Can I hold both DVXV and FHLC in my portfolio?

With a correlation of 0.98, DVXV and FHLC 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 ETF is better, DVXV or FHLC?

On fees, FHLC is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVXV or FHLC?

FHLC is cheaper with a 0.08% expense ratio, compared with 0.89% for DVXV.

Which ETF pays a higher dividend yield, DVXV or FHLC?

FHLC has the higher dividend yield at 1.43%, compared with 0.00% for DVXV.

What is the main difference between DVXV and FHLC?

DVXV tracks Syntax Defined Volatility XLV Index, while FHLC tracks MSCI USA IMI Health Care Index. They also come from different issuers: WEBs and Fidelity. Their fees differ too: 0.89% for DVXV and 0.08% for FHLC.