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FOVL vs. VFVA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FOVL vs. VFVA

Last updated Aug 2, 2026
Documentation

FOVL (iShares Focused Value Factor ETF) and VFVA (Vanguard U.S. Value Factor ETF) are both Mid Cap Value Equities funds. FOVL is passively managed, while VFVA is actively managed. Their correlation of 0.89 means they have usually moved in the same direction. FOVL charges 0.25%/yr vs 0.13%/yr for VFVA.

Performance

FOVL vs. VFVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Focused Value Factor ETF (FOVL) and Vanguard U.S. Value Factor ETF (VFVA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

FOVL

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

VFVA

1D
-0.14%
1M
4.08%
6M
14.51%
YTD
19.47%
1Y
37.96%
3Y*
16.39%
5Y*
12.45%
10Y*
—
ALL TIME*
10.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VFVA

Vanguard U.S. Value Factor ETF
$2.76M$2.45M$1.67M

FOVL vs. VFVA - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FOVL
iShares Focused Value Factor ETF		0.00%6.43%22.87%17.72%-9.39%40.14%-13.20%7.00%
VFVA
Vanguard U.S. Value Factor ETF		19.47%14.77%7.67%17.37%-3.96%36.94%2.28%10.07%

Correlation

The correlation between FOVL and VFVA is 0.09, 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.

0.09

Correlation (3Y)
Balances recent behavior with more history.

0.74

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.85

Correlation (All Time)
Calculated using the full available price history since Mar 21, 2019

0.89

Over the past year, the correlation between FOVL and VFVA has dropped to 0.09 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.

FOVL vs. VFVA - Sectors Allocation Comparison

Sectors
FOVL
VFVA

Financial Services

44.6%
25.7%

Industrials

12.8%
7.6%

Energy

7.7%
7.3%

Utilities

7.5%

-

Consumer Cyclical

5.2%
13.1%

Consumer Defensive

5.0%
7.1%

Technology

5.0%
14.5%

Healthcare

4.9%
14.9%

Communication Services

4.7%
6.2%

Real Estate

2.6%
0.4%

Basic Materials

-

3.3%

Financial Services

FOVL
44.6%
VFVA
25.7%

Industrials

FOVL
12.8%
VFVA
7.6%

Energy

FOVL
7.7%
VFVA
7.3%

Utilities

FOVL
7.5%
VFVA

-

Consumer Cyclical

FOVL
5.2%
VFVA
13.1%

Consumer Defensive

FOVL
5.0%
VFVA
7.1%

Technology

FOVL
5.0%
VFVA
14.5%

Healthcare

FOVL
4.9%
VFVA
14.9%

Communication Services

FOVL
4.7%
VFVA
6.2%

Real Estate

FOVL
2.6%
VFVA
0.4%

Basic Materials

FOVL

-

VFVA
3.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Focused Value Factor ETF

Vanguard U.S. Value Factor ETF

Often compared with FOVL:
FOVL vs. VOOFOVL vs. FRTYFOVL vs. QVALFOVL vs. VTVFOVL vs. FELVFOVL vs. IMCVFOVL vs. DON
Often compared with VFVA:
VFVA vs. XSP.TOVFVA vs. VOOVFVA vs. VFQYVFVA vs. SCHDVFVA vs. VTVVFVA vs. VIGVFVA vs. SPY

Return for Risk

FOVL vs. VFVA — 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.

VFVA
VFVA Risk / Return Rank: 9292
Overall Rank
VFVA Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
VFVA Sortino Ratio Rank: 9393
Sortino Ratio Rank
VFVA Omega Ratio Rank: 9090
Omega Ratio Rank
VFVA Calmar Ratio Rank: 9292
Calmar Ratio Rank
VFVA Martin Ratio Rank: 9090
Martin Ratio Rank
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. VFVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Focused Value Factor ETF (FOVL) and Vanguard U.S. Value Factor ETF (VFVA). 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.

FOVLVFVADifference
Sharpe ratioReturn per unit of total volatility

—

2.40

—

Sortino ratioReturn per unit of downside risk

—

3.49

—

Omega ratioGain probability vs. loss probability

—

1.42

—

Calmar ratioReturn relative to maximum drawdown

—

4.19

—

Martin ratioReturn relative to average drawdown

—

14.15

—

FOVL vs. VFVA - Sharpe Ratio Comparison

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Drawdowns

FOVL vs. VFVA - Drawdown Comparison

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Drawdown Indicators

FOVLVFVADifference

Max Drawdown

Largest peak-to-trough decline

—

-48.58%

—

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.55%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-24.07%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.07%

—

Current Drawdown

Current decline from peak

—

-1.29%

—

Average Drawdown

Average peak-to-trough decline

—

-7.24%

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.52%

—

Volatility

FOVL vs. VFVA - Volatility Comparison

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Volatility by Period

FOVLVFVADifference

Volatility (1M)

Calculated over the trailing 1-month period

—

4.31%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

10.12%

—

Volatility (1Y)

Calculated over the trailing 1-year period

—

14.96%

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

—

20.05%

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

—

24.20%

—

FOVL vs. VFVA - Expense Ratio Comparison

FOVL has a 0.25% expense ratio, which is higher than VFVA's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FOVL vs. VFVA - Dividend Comparison

FOVL has not paid dividends to shareholders, while VFVA's dividend yield for the trailing twelve months is around 1.77%.

PositionTTM20252024202320222021202020192018
FOVL
iShares Focused Value Factor ETF		0.00%1.36%2.08%2.59%3.38%2.80%2.88%2.09%0.00%
VFVA
Vanguard U.S. Value Factor ETF		1.77%2.13%2.40%2.45%2.21%1.68%2.04%2.08%1.65%

Frequently Asked Questions

FOVL and VFVA have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VFVA is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VFVA is cheaper with a 0.13% expense ratio, compared with 0.25% for FOVL.

VFVA has the higher dividend yield at 1.77%, compared with 0.00% for FOVL.

They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.25% for FOVL and 0.13% for VFVA.

Portfolio Optimizer

Find the right allocation for FOVL and VFVA

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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