FVAL vs. DIVB
FVAL (Fidelity Value Factor ETF) and DIVB (iShares Core Dividend ETF) are both exchange-traded funds - FVAL is a Large Cap Value Equities fund tracking the Fidelity U.S. Value Factor Index, while DIVB is a Dividend fund tracking the Morningstar US Dividend and Buyback Index. Both are passively managed. Over the past 5 years, FVAL returned 12.35%/yr vs 13.37%/yr for DIVB. Their correlation of 0.88 means they have usually moved in the same direction. FVAL charges 0.15%/yr vs 0.05%/yr for DIVB.
Performance
FVAL vs. DIVB - Performance Comparison
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Returns By Period
In the year-to-date period, FVAL achieves a 12.26% return, which is significantly lower than DIVB's 25.34% return.
FVAL
- 1D
- 0.57%
- 1M
- 2.54%
- 6M
- 9.88%
- YTD
- 12.26%
- 1Y
- 28.47%
- 3Y*
- 18.46%
- 5Y*
- 12.35%
- 10Y*
- —
- ALL TIME*
- 14.57%
DIVB
- 1D
- 0.26%
- 1M
- 3.88%
- 6M
- 20.82%
- YTD
- 25.34%
- 1Y
- 36.31%
- 3Y*
- 21.50%
- 5Y*
- 13.37%
- 10Y*
- —
- ALL TIME*
- 14.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.36M | $10.66M | $7.75M | |
| $5.44M | $3.65M | $2.95M |
FVAL vs. DIVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVAL Fidelity Value Factor ETF | 12.26% | 19.56% | 18.05% | 23.10% | -14.40% | 30.33% | 9.08% | 30.33% | -7.87% | 5.80% |
DIVB iShares Core Dividend ETF | 25.34% | 15.09% | 18.59% | 13.27% | -10.51% | 31.29% | 10.78% | 32.72% | -8.16% | 5.95% |
Correlation
The correlation between FVAL and DIVB is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017 | 0.88 |
Over the past year, the correlation between FVAL and DIVB has dropped to 0.64 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
FVAL vs. DIVB — Risk / Return Rank
FVAL
DIVB
FVAL vs. DIVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Value Factor ETF (FVAL) and iShares Core Dividend ETF (DIVB). 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.
| FVAL | DIVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.51 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 5.11 | -2.10 |
| Martin ratioReturn relative to average drawdown | 12.33 | 17.69 | -5.36 |
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Drawdowns
FVAL vs. DIVB - Drawdown Comparison
The maximum FVAL drawdown since its inception was -37.26%, roughly equal to the maximum DIVB drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for FVAL and DIVB.
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Drawdown Indicators
| FVAL | DIVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.26% | -36.93% | -0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -6.82% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -18.39% | -15.45% | -2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -23.42% | -21.08% | -2.34% |
Current DrawdownCurrent decline from peak | 0.00% | -1.26% | +1.26% |
Average DrawdownAverage peak-to-trough decline | -4.54% | -4.92% | +0.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 1.97% | +0.21% |
Volatility
FVAL vs. DIVB - Volatility Comparison
The current volatility for Fidelity Value Factor ETF (FVAL) is 2.90%, while iShares Core Dividend ETF (DIVB) has a volatility of 5.32%. This indicates that FVAL experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVAL | DIVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.90% | 5.32% | -2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.24% | 9.83% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.16% | 12.54% | -0.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.49% | 15.38% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 18.35% | -0.32% |
FVAL vs. DIVB - Expense Ratio Comparison
FVAL has a 0.15% expense ratio, which is higher than DIVB's 0.05% 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
FVAL vs. DIVB - Dividend Comparison
FVAL's dividend yield for the trailing twelve months is around 1.56%, less than DIVB's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 2.12% | 2.50% | 2.61% | 3.18% | 2.02% | 1.63% | 2.08% | 2.07% | 2.52% | 0.37% | 0.00% |
FVAL Fidelity Value Factor ETF | 1.56% | 1.61% | 1.60% | 1.69% | 1.79% | 1.41% | 1.61% | 1.77% | 2.06% | 1.62% | 0.45% |
Frequently Asked Questions
FVAL and DIVB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (5.32%) compared to FVAL (2.90%). In terms of maximum drawdown, FVAL dropped -37.26% vs DIVB's -36.93%.
On 5-year performance, DIVB leads with 13.37% vs 12.35% for FVAL. On fees, DIVB is cheaper at 0.05% per year. On volatility, FVAL has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DIVB has performed better with a 13.37% return vs 12.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVB is cheaper with a 0.05% expense ratio, compared with 0.15% for FVAL.
DIVB has the higher dividend yield at 2.12%, compared with 1.56% for FVAL.
FVAL is categorized as Large Cap Value Equities, while DIVB is Dividend. FVAL tracks Fidelity U.S. Value Factor Index, while DIVB tracks Morningstar US Dividend and Buyback Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.15% for FVAL and 0.05% for DIVB.
DIVB currently has the higher Sharpe Ratio (2.80 vs 2.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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