FPAG vs. BDVL

Last updated Jun 4, 2026

FPAG (FPA Global Equity ETF) and BDVL (iShares Disciplined Volatility Equity Active ETF) are both Global Equities funds. FPAG is actively managed, while BDVL is passively managed. A 0.79 correlation means they provide meaningful diversification when combined. FPAG charges 0.49%/yr vs 0.40%/yr for BDVL.

Performance

FPAG vs. BDVL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FPA Global Equity ETF (FPAG) and iShares Disciplined Volatility Equity Active ETF (BDVL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPAG achieves a 7.57% return, which is significantly higher than BDVL's 4.71% return.

FPAG

• 1D: -0.60%
• 1M: 4.07%
• YTD: 7.57%
• 6M: 8.13%
• 1Y: 25.35%
• 3Y*: 21.24%
• 5Y*: —
• 10Y*: —

BDVL

• 1D: -0.44%
• 1M: 0.91%
• YTD: 4.71%
• 6M: 5.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FPAG vs. BDVL - Yearly Performance Comparison

	2026 (YTD)	2025
FPAG FPA Global Equity ETF	7.57%	3.45%
BDVL iShares Disciplined Volatility Equity Active ETF	4.71%	1.97%

Correlation

The correlation between FPAG and BDVL is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 16, 2025	0.79

FPAG vs. BDVL - Sectors Allocation Comparison

Sectors	FPAG	BDVL
Communication Services	17.8%	10.7%
Basic Materials	14.6%	2.6%
Technology	12.9%	23.0%
Industrials	12.2%	15.4%
Healthcare	12.0%	11.1%
Consumer Cyclical	10.6%	8.5%
Financial Services	9.5%	13.9%
Consumer Defensive	8.9%	6.3%
Energy	1.4%	2.8%
Utilities	0.2%	4.8%
Real Estate	0.0%	1.0%

Return for Risk

FPAG vs. BDVL — Risk / Return Rank

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

FPAG

FPAG Risk / Return Rank: 48
FPAG Sharpe Ratio Rank: 50
FPAG Sortino Ratio Rank: 51
FPAG Omega Ratio Rank: 49
FPAG Calmar Ratio Rank: 42
FPAG Martin Ratio Rank: 47

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.

FPAG vs. BDVL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FPA Global Equity ETF (FPAG) and iShares Disciplined Volatility Equity Active ETF (BDVL). 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.

	FPAG	BDVL	Difference
Sharpe ratio: Return per unit of total volatility	1.74	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.10	—	—
Martin ratio: Return relative to average drawdown	7.94	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FPAG	BDVL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.01	-0.35

Drawdowns

FPAG vs. BDVL - Drawdown Comparison

The maximum FPAG drawdown since its inception was -28.43%, which is greater than BDVL's maximum drawdown of -7.71%. Use the drawdown chart below to compare losses from any high point for FPAG and BDVL.

Drawdown Indicators

	FPAG	BDVL	Difference
Max Drawdown Largest peak-to-trough decline	-28.43%	-7.71%	-20.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.14%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	—	—
Current Drawdown Current decline from peak	-0.60%	-0.95%	+0.35%
Average Drawdown Average peak-to-trough decline	-6.37%	-1.19%	-5.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	—	—

Volatility

Volatility by Period

	FPAG	BDVL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.64%	9.49%	+5.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.39%	9.49%	+9.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.39%	9.49%	+9.90%

FPAG vs. BDVL - Expense Ratio Comparison

FPAG has a 0.49% expense ratio, which is higher than BDVL's 0.40% expense ratio.

Dividends

FPAG vs. BDVL - Dividend Comparison

FPAG's dividend yield for the trailing twelve months is around 1.41%, less than BDVL's 2.66% yield.

Position	TTM	2025	2024	2023	2022
BDVL iShares Disciplined Volatility Equity Active ETF	2.66%	2.79%	0.00%	0.00%	0.00%
FPAG FPA Global Equity ETF	1.41%	1.99%	1.42%	1.51%	1.22%

Frequently Asked Questions

Can I hold both FPAG and BDVL in my portfolio?

FPAG and BDVL have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FPAG or BDVL?

On fees, BDVL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FPAG or BDVL?

BDVL is cheaper with a 0.40% expense ratio, compared with 0.49% for FPAG.

Which ETF pays a higher dividend yield, FPAG or BDVL?

BDVL has the higher dividend yield at 2.66%, compared with 1.41% for FPAG.

What is the main difference between FPAG and BDVL?

They also come from different issuers: FPA and iShares. Their fees differ too: 0.49% for FPAG and 0.40% for BDVL.