FVD vs. VFVA

Last updated Aug 2, 2026

FVD (First Trust Value Line Dividend Index Fund) and VFVA (Vanguard U.S. Value Factor ETF) are both Mid Cap Value Equities funds. FVD is passively managed, while VFVA is actively managed. Over the past 5 years, FVD returned 6.75%/yr vs 12.45%/yr for VFVA. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FVD charges 0.61%/yr vs 0.13%/yr for VFVA.

Performance

FVD vs. VFVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Value Line Dividend Index Fund (FVD) and Vanguard U.S. Value Factor ETF (VFVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FVD achieves a 10.07% return, which is significantly lower than VFVA's 19.47% return.

FVD

• 1D: -0.18%
• 1M: 1.52%
• 6M: 5.94%
• YTD: 10.07%
• 1Y: 14.68%
• 3Y*: 9.72%
• 5Y*: 6.75%
• 10Y*: 8.75%
• ALL TIME*: 9.74%

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

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FVD First Trust Value Line Dividend Index Fund	$21.15M	$21.63M	$33.04M
VFVA Vanguard U.S. Value Factor ETF	$2.76M	$2.45M	$1.67M

FVD vs. VFVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FVD First Trust Value Line Dividend Index Fund	10.07%	8.16%	10.04%	4.11%	-5.18%	25.08%	-0.02%	26.58%	-0.93%
VFVA Vanguard U.S. Value Factor ETF	19.47%	14.77%	7.67%	17.37%	-3.96%	36.94%	2.28%	25.42%	-18.90%

Correlation

The correlation between FVD and VFVA is 0.74, 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.	0.74
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Feb 15, 2018	0.79

The correlation between FVD and VFVA has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

FVD vs. VFVA - Sectors Allocation Comparison

Sectors	FVD	VFVA
Financial Services	19.8%	25.7%
Utilities	17.3%	-
Industrials	14.4%	7.6%
Consumer Defensive	10.9%	7.1%
Healthcare	8.2%	14.9%
Real Estate	8.1%	0.4%
Technology	6.7%	14.5%
Consumer Cyclical	5.3%	13.1%
Energy	3.5%	7.3%
Communication Services	3.1%	6.2%
Basic Materials	2.8%	3.3%

Return for Risk

FVD vs. VFVA — Risk / Return Rank

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

FVD

FVD Risk / Return Rank: 57
FVD Sharpe Ratio Rank: 60
FVD Sortino Ratio Rank: 67
FVD Omega Ratio Rank: 56
FVD Calmar Ratio Rank: 56
FVD Martin Ratio Rank: 45

VFVA

VFVA Risk / Return Rank: 92
VFVA Sharpe Ratio Rank: 92
VFVA Sortino Ratio Rank: 93
VFVA Omega Ratio Rank: 90
VFVA Calmar Ratio Rank: 92
VFVA Martin Ratio Rank: 90

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.

FVD vs. VFVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Value Line Dividend Index Fund (FVD) 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.

	FVD	VFVA	Difference
Sharpe ratio: Return per unit of total volatility	1.42	2.40	-0.99
Sortino ratio: Return per unit of downside risk	2.19	3.49	-1.30
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.18
Calmar ratio: Return relative to maximum drawdown	1.99	4.19	-2.20
Martin ratio: Return relative to average drawdown	5.07	14.15	-9.08

FVD vs. VFVA - Sharpe Ratio Comparison

The current FVD Sharpe Ratio is 1.42, which is lower than the VFVA Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of FVD and VFVA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FVD vs. VFVA - Drawdown Comparison

The maximum FVD drawdown since its inception was -51.00%, roughly equal to the maximum VFVA drawdown of -48.58%. Use the drawdown chart below to compare losses from any high point for FVD and VFVA.

Drawdown Indicators

	FVD	VFVA	Difference
Max Drawdown Largest peak-to-trough decline	-51.00%	-48.58%	-2.42%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-8.55%	+1.32%
Max Drawdown (3Y) Largest decline over 3 years	-11.97%	-24.07%	+12.10%
Max Drawdown (5Y) Largest decline over 5 years	-16.41%	-24.07%	+7.66%
Max Drawdown (10Y) Largest decline over 10 years	-35.25%	—	—
Current Drawdown Current decline from peak	-1.72%	-1.29%	-0.43%
Average Drawdown Average peak-to-trough decline	-5.42%	-7.24%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	2.52%	+0.31%

Volatility

FVD vs. VFVA - Volatility Comparison

First Trust Value Line Dividend Index Fund (FVD) and Vanguard U.S. Value Factor ETF (VFVA) have volatilities of 4.37% and 4.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FVD	VFVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	4.31%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.01%	10.12%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	14.96%	-4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	20.05%	-7.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	24.20%	-8.73%

FVD vs. VFVA - Expense Ratio Comparison

FVD has a 0.61% expense ratio, which is higher than VFVA's 0.13% expense ratio.

Dividends

FVD vs. VFVA - Dividend Comparison

FVD's dividend yield for the trailing twelve months is around 2.23%, more than VFVA's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVD First Trust Value Line Dividend Index Fund	2.23%	2.36%	2.23%	2.34%	2.20%	1.75%	2.31%	2.03%	2.50%	2.10%	2.04%	2.34%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FVD and VFVA in my portfolio?

FVD and VFVA have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FVD or VFVA?

FVD has higher volatility (4.37%) compared to VFVA (4.31%). In terms of maximum drawdown, FVD dropped -51.00% vs VFVA's -48.58%.

Which ETF is better, FVD or VFVA?

On 5-year performance, VFVA leads with 12.45% vs 6.75% for FVD. On fees, VFVA is cheaper at 0.13% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FVD or VFVA?

Over the 5-year period, VFVA has performed better with a 12.45% return vs 6.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FVD or VFVA?

VFVA is cheaper with a 0.13% expense ratio, compared with 0.61% for FVD.

Which ETF pays a higher dividend yield, FVD or VFVA?

FVD has the higher dividend yield at 2.23%, compared with 1.77% for VFVA.

What is the main difference between FVD and VFVA?

They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.61% for FVD and 0.13% for VFVA.

Which has better risk-adjusted returns?

VFVA currently has the higher Sharpe Ratio (2.40 vs 1.42), 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.