FOVL vs. CVAR
FOVL (iShares Focused Value Factor ETF) and CVAR (Cultivar ETF) are both Mid Cap Value Equities funds. FOVL is passively managed, while CVAR is actively managed. Their 0.74 correlation means they have sometimes moved together and sometimes differently. FOVL charges 0.25%/yr vs 0.87%/yr for CVAR.
Performance
FOVL vs. CVAR - Performance Comparison
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Returns By Period
FOVL
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
CVAR
- 1D
- -0.39%
- 1M
- 2.81%
- 6M
- 3.56%
- YTD
- 6.25%
- 1Y
- 17.21%
- 3Y*
- 8.20%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.67%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
CVAR Cultivar ETF | $56.02K | $61.92K | $58.96K |
FOVL vs. CVAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FOVL iShares Focused Value Factor ETF | 0.00% | 6.43% | 22.87% | 17.72% | -9.39% | 2.98% |
CVAR Cultivar ETF | 6.25% | 14.95% | 3.12% | 11.74% | -5.03% | 0.70% |
Correlation
The correlation between FOVL and CVAR is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2021 | 0.74 |
Over the past year, the correlation between FOVL and CVAR has dropped to 0.08 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
FOVL vs. CVAR — Risk / Return Rank
FOVL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CVAR
FOVL vs. CVAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) and Cultivar ETF (CVAR). 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.
| FOVL | CVAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.25 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.98 | — |
| Martin ratioReturn relative to average drawdown | — | 4.24 | — |
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Drawdowns
FOVL vs. CVAR - Drawdown Comparison
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Drawdown Indicators
| FOVL | CVAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -19.39% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.45% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.60% | — |
Current DrawdownCurrent decline from peak | — | -0.98% | — |
Average DrawdownAverage peak-to-trough decline | — | -5.48% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 3.93% | — |
Volatility
FOVL vs. CVAR - Volatility Comparison
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Volatility by Period
| FOVL | CVAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.96% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 11.71% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 15.39% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 15.39% | — |
FOVL vs. CVAR - Expense Ratio Comparison
FOVL has a 0.25% expense ratio, which is lower than CVAR's 0.87% expense ratio.
Dividends
FOVL vs. CVAR - Dividend Comparison
FOVL has not paid dividends to shareholders, while CVAR's dividend yield for the trailing twelve months is around 1.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
CVAR Cultivar ETF | 1.44% | 1.53% | 3.57% | 1.41% | 5.52% | 0.00% | 0.00% | 0.00% |
FOVL iShares Focused Value Factor ETF | 0.00% | 1.36% | 2.08% | 2.59% | 3.38% | 2.80% | 2.88% | 2.09% |
Frequently Asked Questions
FOVL and CVAR have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FOVL is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FOVL is cheaper with a 0.25% expense ratio, compared with 0.87% for CVAR.
CVAR has the higher dividend yield at 1.44%, compared with 0.00% for FOVL.
They also come from different issuers: iShares and Cultivar. Their fees differ too: 0.25% for FOVL and 0.87% for CVAR.
Find the right allocation for FOVL and CVAR
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