FV vs. TILT

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Dorsey Wright Focus 5 ETF (FV) and FlexShares Morningstar US Market Factor Tilt Index Fund (TILT).

FV and TILT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FV is a passively managed fund by First Trust that tracks the performance of the Dorsey Wright Focus Five Index. It was launched on Mar 5, 2014. TILT is a passively managed fund by FlexShares that tracks the performance of the Morningstar US Market Factor Tilt Index. It was launched on Sep 16, 2011. Both FV and TILT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FV vs. TILT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Focus 5 ETF (FV) and FlexShares Morningstar US Market Factor Tilt Index Fund (TILT). The values are adjusted to include any dividend payments, if applicable.

FV vs. TILT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FV First Trust Dorsey Wright Focus 5 ETF	-3.87%	7.23%	14.73%	11.34%	-3.93%	21.63%	28.36%	25.73%	-8.27%	19.97%
TILT FlexShares Morningstar US Market Factor Tilt Index Fund	-2.73%	16.59%	19.88%	24.70%	-17.25%	27.61%	16.05%	29.01%	-8.93%	18.33%

Returns By Period

In the year-to-date period, FV achieves a -3.87% return, which is significantly lower than TILT's -2.73% return. Over the past 10 years, FV has underperformed TILT with an annualized return of 11.42%, while TILT has yielded a comparatively higher 12.78% annualized return.

FV

• 1D: 3.09%
• 1M: -7.44%
• YTD: -3.87%
• 6M: -2.11%
• 1Y: 10.86%
• 3Y*: 10.66%
• 5Y*: 6.53%
• 10Y*: 11.42%

TILT

• 1D: 2.64%
• 1M: -4.75%
• YTD: -2.73%
• 6M: 0.23%
• 1Y: 18.78%
• 3Y*: 17.01%
• 5Y*: 9.89%
• 10Y*: 12.78%

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

FV vs. TILT - Expense Ratio Comparison

FV has a 0.87% expense ratio, which is higher than TILT's 0.25% expense ratio.

FV

First Trust Dorsey Wright Focus 5 ETF

TILT

FlexShares Morningstar US Market Factor Tilt Index Fund

Return for Risk

FV vs. TILT — Risk / Return Rank

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

FV

FV Risk / Return Rank: 32
FV Sharpe Ratio Rank: 30
FV Sortino Ratio Rank: 32
FV Omega Ratio Rank: 32
FV Calmar Ratio Rank: 34
FV Martin Ratio Rank: 33

TILT

TILT Risk / Return Rank: 62
TILT Sharpe Ratio Rank: 57
TILT Sortino Ratio Rank: 60
TILT Omega Ratio Rank: 64
TILT Calmar Ratio Rank: 59
TILT Martin Ratio Rank: 70

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.

FV vs. TILT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Focus 5 ETF (FV) and FlexShares Morningstar US Market Factor Tilt Index Fund (TILT). 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.

	FV	TILT	Difference
Sharpe ratio Return per unit of total volatility	0.54	1.01	-0.47
Sortino ratio Return per unit of downside risk	0.89	1.53	-0.64
Omega ratio Gain probability vs. loss probability	1.12	1.23	-0.11
Calmar ratio Return relative to maximum drawdown	0.82	1.48	-0.66
Martin ratio Return relative to average drawdown	2.96	7.08	-4.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FV vs. TILT - Sharpe Ratio Comparison

The current FV Sharpe Ratio is 0.54, which is lower than the TILT Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of FV and TILT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FV	TILT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	1.01	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.57	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.68	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.78	-0.29

Correlation

The correlation between FV and TILT is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FV vs. TILT - Dividend Comparison

FV's dividend yield for the trailing twelve months is around 0.64%, less than TILT's 1.22% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FV First Trust Dorsey Wright Focus 5 ETF	0.64%	0.63%	0.14%	0.47%	1.38%	0.11%	0.06%	0.56%	0.19%	0.67%	0.95%	0.14%
TILT FlexShares Morningstar US Market Factor Tilt Index Fund	1.22%	1.15%	1.23%	1.44%	1.60%	1.16%	1.49%	1.54%	1.97%	1.55%	1.60%	1.98%

Drawdowns

FV vs. TILT - Drawdown Comparison

The maximum FV drawdown since its inception was -34.04%, smaller than the maximum TILT drawdown of -38.46%. Use the drawdown chart below to compare losses from any high point for FV and TILT.

Drawdown Indicators

	FV	TILT	Difference
Max Drawdown Largest peak-to-trough decline	-34.04%	-38.46%	+4.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.45%	-13.06%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-23.08%	-24.12%	+1.04%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	-38.46%	+4.42%
Current Drawdown Current decline from peak	-10.77%	-6.09%	-4.68%
Average Drawdown Average peak-to-trough decline	-5.84%	-4.27%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	2.73%	+0.99%

Volatility

FV vs. TILT - Volatility Comparison

First Trust Dorsey Wright Focus 5 ETF (FV) has a higher volatility of 7.53% compared to FlexShares Morningstar US Market Factor Tilt Index Fund (TILT) at 5.13%. This indicates that FV's price experiences larger fluctuations and is considered to be riskier than TILT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FV	TILT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.53%	5.13%	+2.40%
Volatility (6M) Calculated over the trailing 6-month period	12.49%	9.77%	+2.72%
Volatility (1Y) Calculated over the trailing 1-year period	20.20%	18.69%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.77%	17.42%	+3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.39%	18.75%	+2.64%