DWLD vs. GVAL

Last updated Jun 24, 2026

DWLD (Davis Select Worldwide ETF) and GVAL (Cambria Global Value ETF) are both Global Equities funds. Both are actively managed. Over the past 5 years, DWLD returned 7.48%/yr vs 14.14%/yr for GVAL. A 0.70 correlation means they provide meaningful diversification when combined. DWLD charges 0.63%/yr vs 0.64%/yr for GVAL.

Performance

DWLD vs. GVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Davis Select Worldwide ETF (DWLD) and Cambria Global Value ETF (GVAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DWLD achieves a -1.37% return, which is significantly lower than GVAL's 17.40% return.

DWLD

• 1D: -1.16%
• 1M: -1.90%
• YTD: -1.37%
• 6M: -1.56%
• 1Y: 16.03%
• 3Y*: 19.74%
• 5Y*: 7.48%
• 10Y*: —

GVAL

• 1D: -1.91%
• 1M: 4.28%
• YTD: 17.40%
• 6M: 17.33%
• 1Y: 43.62%
• 3Y*: 27.44%
• 5Y*: 14.14%
• 10Y*: 11.81%

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

DWLD vs. GVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DWLD Davis Select Worldwide ETF	-1.37%	30.43%	24.34%	20.62%	-14.20%	-4.03%	22.73%	31.28%	-22.28%	29.65%
GVAL Cambria Global Value ETF	17.40%	55.87%	2.59%	13.30%	-7.98%	10.70%	-8.51%	17.24%	-14.30%	25.28%

Correlation

The correlation between DWLD and GVAL is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 12, 2017	0.70

The correlation between DWLD and GVAL has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

DWLD vs. GVAL - Sectors Allocation Comparison

Sectors	DWLD	GVAL
Consumer Cyclical	21.2%	2.7%
Financial Services	19.1%	16.9%
Technology	18.5%	9.4%
Communication Services	12.6%	4.3%
Healthcare	11.4%	-
Consumer Defensive	6.6%	1.8%
Energy	4.8%	6.8%
Basic Materials	3.3%	7.7%
Industrials	2.6%	3.6%
Real Estate	-	6.2%
Utilities	-	3.7%

Return for Risk

DWLD vs. GVAL — Risk / Return Rank

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

DWLD

DWLD Risk / Return Rank: 31
DWLD Sharpe Ratio Rank: 32
DWLD Sortino Ratio Rank: 30
DWLD Omega Ratio Rank: 30
DWLD Calmar Ratio Rank: 31
DWLD Martin Ratio Rank: 34

GVAL

GVAL Risk / Return Rank: 84
GVAL Sharpe Ratio Rank: 89
GVAL Sortino Ratio Rank: 87
GVAL Omega Ratio Rank: 86
GVAL Calmar Ratio Rank: 78
GVAL Martin Ratio Rank: 78

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.

DWLD vs. GVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Davis Select Worldwide ETF (DWLD) and Cambria Global Value ETF (GVAL). 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.

	DWLD	GVAL	Difference
Sharpe ratio: Return per unit of total volatility	1.08	2.82	-1.74
Sortino ratio: Return per unit of downside risk	1.56	3.72	-2.16
Omega ratio: Gain probability vs. loss probability	1.20	1.50	-0.31
Calmar ratio: Return relative to maximum drawdown	1.43	3.81	-2.38
Martin ratio: Return relative to average drawdown	4.76	14.52	-9.76

DWLD vs. GVAL - Sharpe Ratio Comparison

The current DWLD Sharpe Ratio is 1.08, which is lower than the GVAL Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of DWLD and GVAL, 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

DWLD vs. GVAL - Drawdown Comparison

The maximum DWLD drawdown since its inception was -39.27%, smaller than the maximum GVAL drawdown of -46.82%. Use the drawdown chart below to compare losses from any high point for DWLD and GVAL.

Drawdown Indicators

	DWLD	GVAL	Difference
Max Drawdown Largest peak-to-trough decline	-39.27%	-46.82%	+7.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.27%	-11.50%	+0.23%
Max Drawdown (3Y) Largest decline over 3 years	-16.01%	-15.72%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-36.49%	-30.83%	-5.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.82%	—
Current Drawdown Current decline from peak	-5.78%	-2.31%	-3.47%
Average Drawdown Average peak-to-trough decline	-11.30%	-13.82%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	3.01%	+0.37%

Volatility

DWLD vs. GVAL - Volatility Comparison

The current volatility for Davis Select Worldwide ETF (DWLD) is 5.21%, while Cambria Global Value ETF (GVAL) has a volatility of 6.37%. This indicates that DWLD experiences smaller price fluctuations and is considered to be less risky than GVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DWLD	GVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	6.37%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	11.50%	13.81%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.97%	15.55%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.70%	18.60%	+2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.19%	19.00%	+2.19%

DWLD vs. GVAL - Expense Ratio Comparison

DWLD has a 0.63% expense ratio, which is lower than GVAL's 0.64% expense ratio.

Dividends

DWLD vs. GVAL - Dividend Comparison

DWLD's dividend yield for the trailing twelve months is around 1.58%, less than GVAL's 2.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DWLD Davis Select Worldwide ETF	1.58%	1.56%	1.45%	1.23%	0.75%	1.03%	0.24%	2.27%	4.11%	0.20%	0.00%	0.00%
GVAL Cambria Global Value ETF	2.43%	2.93%	4.75%	6.12%	5.05%	2.97%	1.90%	2.84%	4.65%	2.00%	2.54%	2.11%

Frequently Asked Questions

Can I hold both DWLD and GVAL in my portfolio?

DWLD and GVAL have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DWLD or GVAL?

GVAL has higher volatility (6.37%) compared to DWLD (5.21%). In terms of maximum drawdown, DWLD dropped -39.27% vs GVAL's -46.82%.

Which ETF is better, DWLD or GVAL?

On 5-year performance, GVAL leads with 14.14% vs 7.48% for DWLD. On fees, DWLD is cheaper at 0.63% per year. On volatility, DWLD has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DWLD or GVAL?

Over the 5-year period, GVAL has performed better with a 14.14% return vs 7.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DWLD or GVAL?

DWLD is cheaper with a 0.63% expense ratio, compared with 0.64% for GVAL.

Which ETF pays a higher dividend yield, DWLD or GVAL?

GVAL has the higher dividend yield at 2.43%, compared with 1.58% for DWLD.

What is the main difference between DWLD and GVAL?

They also come from different issuers: Davis Advisers and Cambria. Their fees differ too: 0.63% for DWLD and 0.64% for GVAL.

Which has better risk-adjusted returns?

GVAL currently has the higher Sharpe Ratio (2.82 vs 1.08), 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.