EPSV vs. TCV

Last updated Aug 4, 2026

EPSV (Harbor SMID Cap Value ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. Both are actively managed. Over the past year, EPSV returned 43.44% vs 44.66% for TCV. Their 0.75 correlation means they have sometimes moved together and sometimes differently. EPSV charges 0.88%/yr vs 0.85%/yr for TCV.

Performance

EPSV vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor SMID Cap Value ETF (EPSV) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EPSV having a 29.30% return and TCV slightly lower at 28.66%.

EPSV

• 1D: 1.61%
• 1M: 0.73%
• 6M: 19.31%
• YTD: 29.30%
• 1Y: 43.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 44.00%

TCV

• 1D: 1.41%
• 1M: 4.51%
• 6M: 14.76%
• YTD: 28.66%
• 1Y: 44.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.88%

*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)
EPSV Harbor SMID Cap Value ETF	$38.47K	$26.73K	$26.53K
TCV Towle Value ETF	$832.96K	$682.19K	$341.78K

EPSV vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
EPSV Harbor SMID Cap Value ETF	29.30%	9.28%
TCV Towle Value ETF	28.66%	2.99%

Correlation

The correlation between EPSV and TCV is 0.76, 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.	0.76
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.75

The correlation between EPSV and TCV has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.

Return for Risk

EPSV vs. TCV — Risk / Return Rank

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

EPSV

EPSV Risk / Return Rank: 91
EPSV Sharpe Ratio Rank: 91
EPSV Sortino Ratio Rank: 91
EPSV Omega Ratio Rank: 88
EPSV Calmar Ratio Rank: 93
EPSV Martin Ratio Rank: 92

TCV

TCV Risk / Return Rank: 84
TCV Sharpe Ratio Rank: 86
TCV Sortino Ratio Rank: 85
TCV Omega Ratio Rank: 80
TCV Calmar Ratio Rank: 87
TCV Martin Ratio Rank: 81

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.

EPSV vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor SMID Cap Value ETF (EPSV) and Towle Value ETF (TCV). 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.

	EPSV	TCV	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.22	+0.21
Sortino ratio: Return per unit of downside risk	3.41	3.05	+0.37
Omega ratio: Gain probability vs. loss probability	1.42	1.37	+0.05
Calmar ratio: Return relative to maximum drawdown	4.89	3.70	+1.19
Martin ratio: Return relative to average drawdown	16.66	11.91	+4.75

EPSV vs. TCV - Sharpe Ratio Comparison

The current EPSV Sharpe Ratio is 2.42, which is comparable to the TCV Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of EPSV and TCV, 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

EPSV vs. TCV - Drawdown Comparison

The maximum EPSV drawdown since its inception was -8.93%, smaller than the maximum TCV drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for EPSV and TCV.

Drawdown Indicators

	EPSV	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-8.93%	-12.23%	+3.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-12.13%	+3.20%
Current Drawdown Current decline from peak	-1.62%	-1.33%	-0.29%
Average Drawdown Average peak-to-trough decline	-1.69%	-3.21%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	3.76%	-1.15%

Volatility

EPSV vs. TCV - Volatility Comparison

Harbor SMID Cap Value ETF (EPSV) and Towle Value ETF (TCV) have volatilities of 4.51% and 4.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPSV	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	4.70%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	13.59%	-0.42%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	20.29%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.05%	21.02%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	21.02%	-2.97%

EPSV vs. TCV - Expense Ratio Comparison

EPSV has a 0.88% expense ratio, which is higher than TCV's 0.85% expense ratio.

Dividends

EPSV vs. TCV - Dividend Comparison

EPSV's dividend yield for the trailing twelve months is around 2.23%, more than TCV's 0.56% yield.

Position	TTM	2025
EPSV Harbor SMID Cap Value ETF	2.23%	2.88%
TCV Towle Value ETF	0.56%	0.31%

Frequently Asked Questions

Can I hold both EPSV and TCV in my portfolio?

EPSV and TCV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPSV or TCV?

TCV has higher volatility (4.70%) compared to EPSV (4.51%). In terms of maximum drawdown, EPSV dropped -8.93% vs TCV's -12.23%.

Which ETF is better, EPSV or TCV?

On 1-year performance, TCV leads with 44.66% vs 43.44% for EPSV. On fees, TCV is cheaper at 0.85% per year. On volatility, EPSV has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPSV or TCV?

Over the 1-year period, TCV has performed better with a 44.66% return vs 43.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPSV or TCV?

TCV is cheaper with a 0.85% expense ratio, compared with 0.88% for EPSV.

Which ETF pays a higher dividend yield, EPSV or TCV?

EPSV has the higher dividend yield at 2.23%, compared with 0.56% for TCV.

What is the main difference between EPSV and TCV?

They also come from different issuers: Harbor and Alpha Architect. Their fees differ too: 0.88% for EPSV and 0.85% for TCV.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (2.42 vs 2.22), 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.