FOVL vs. SJLD

Last updated Aug 6, 2026

FOVL (iShares Focused Value Factor ETF) and SJLD (SanJac Alpha Low Duration ETF) are both exchange-traded funds - FOVL is a Mid Cap Value Equities fund tracking the MSCI USA IMI Focused Value Factor Index, while SJLD is a Short-Term Bond fund actively managed by SanJac Alpha. FOVL is passively managed, while SJLD is actively managed. Their 0.18 correlation means their historical movements had little consistent relationship. FOVL charges 0.25%/yr vs 0.35%/yr for SJLD.

Performance

FOVL vs. SJLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and SanJac Alpha Low Duration ETF (SJLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FOVL

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

SJLD

• 1D: 0.00%
• 1M: 0.28%
• 6M: 1.94%
• YTD: 2.28%
• 1Y: 4.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.43%

*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)
SJLD SanJac Alpha Low Duration ETF	$954.78	$1.09K	$3.16K

FOVL vs. SJLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FOVL iShares Focused Value Factor ETF	0.00%	6.43%	9.57%
SJLD SanJac Alpha Low Duration ETF	2.28%	5.20%	0.91%

Correlation

The correlation between FOVL and SJLD is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.18

The correlation between FOVL and SJLD shifts across timeframes, from -0.13 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FOVL vs. SJLD — Risk / Return Rank

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

FOVL

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

SJLD

SJLD Risk / Return Rank: 93
SJLD Sharpe Ratio Rank: 93
SJLD Sortino Ratio Rank: 95
SJLD Omega Ratio Rank: 96
SJLD Calmar Ratio Rank: 89
SJLD Martin Ratio Rank: 94

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.

FOVL vs. SJLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) and SanJac Alpha Low Duration ETF (SJLD). 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	SJLD	Difference
Sharpe ratio: Return per unit of total volatility	—	2.64	—
Sortino ratio: Return per unit of downside risk	—	4.10	—
Omega ratio: Gain probability vs. loss probability	—	1.63	—
Calmar ratio: Return relative to maximum drawdown	—	3.99	—
Martin ratio: Return relative to average drawdown	—	19.31	—

Drawdowns

Drawdown Indicators

	FOVL	SJLD	Difference
Max Drawdown Largest peak-to-trough decline	—	-1.04%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.04%	—
Current Drawdown Current decline from peak	—	-0.02%	—
Average Drawdown Average peak-to-trough decline	—	-0.11%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.22%	—

Volatility

Volatility by Period

	FOVL	SJLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1.58%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	1.88%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	1.88%	—

FOVL vs. SJLD - Expense Ratio Comparison

FOVL has a 0.25% expense ratio, which is lower than SJLD's 0.35% expense ratio.

Dividends

FOVL vs. SJLD - Dividend Comparison

FOVL has not paid dividends to shareholders, while SJLD's dividend yield for the trailing twelve months is around 4.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FOVL iShares Focused Value Factor ETF	0.00%	1.36%	2.08%	2.59%	3.38%	2.80%	2.88%	2.09%
SJLD SanJac Alpha Low Duration ETF	4.40%	3.74%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FOVL and SJLD in my portfolio?

FOVL and SJLD have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FOVL or SJLD?

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.

Which ETF is cheaper, FOVL or SJLD?

FOVL is cheaper with a 0.25% expense ratio, compared with 0.35% for SJLD.

Which ETF pays a higher dividend yield, FOVL or SJLD?

SJLD has the higher dividend yield at 4.40%, compared with 0.00% for FOVL.

What is the main difference between FOVL and SJLD?

FOVL is categorized as Mid Cap Value Equities, while SJLD is Short-Term Bond. They also come from different issuers: iShares and SanJac Alpha. Their fees differ too: 0.25% for FOVL and 0.35% for SJLD.