GVAL vs. VMFXX

Last updated Jun 14, 2026

GVAL (Cambria Global Value ETF) and VMFXX (Vanguard Federal Money Market Fund) are both funds - GVAL is a Global Equities fund actively managed by Cambria, while VMFXX is a Money Market fund managed by Vanguard. Over the past 5 years, GVAL returned 13.64%/yr vs 2.39%/yr for VMFXX. At a correlation of -0.03, they often move in opposite directions. GVAL charges 0.64%/yr vs 0.11%/yr for VMFXX.

Performance

GVAL vs. VMFXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Global Value ETF (GVAL) and Vanguard Federal Money Market Fund (VMFXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GVAL achieves a 16.63% return, which is significantly higher than VMFXX's 1.50% return.

GVAL

• 1D: 1.47%
• 1M: 3.88%
• YTD: 16.63%
• 6M: 18.08%
• 1Y: 40.92%
• 3Y*: 26.84%
• 5Y*: 13.64%
• 10Y*: 11.46%

VMFXX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.50%
• 6M: 1.82%
• 1Y: 3.95%
• 3Y*: 3.35%
• 5Y*: 2.39%
• 10Y*: —

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

GVAL vs. VMFXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GVAL Cambria Global Value ETF	16.63%	55.87%	2.59%	13.30%	-7.98%	-0.51%
VMFXX Vanguard Federal Money Market Fund	1.50%	4.24%	1.64%	4.64%	0.00%	0.00%

Correlation

The correlation between GVAL and VMFXX is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.00
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (All Time) Calculated using the full available price history since May 25, 2021	-0.03

Return for Risk

GVAL vs. VMFXX — Risk / Return Rank

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

GVAL

GVAL Risk / Return Rank: 84
GVAL Sharpe Ratio Rank: 90
GVAL Sortino Ratio Rank: 88
GVAL Omega Ratio Rank: 87
GVAL Calmar Ratio Rank: 77
GVAL Martin Ratio Rank: 79

VMFXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

GVAL vs. VMFXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Global Value ETF (GVAL) and Vanguard Federal Money Market Fund (VMFXX). 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.

	GVAL	VMFXX	Difference
Sharpe ratio: Return per unit of total volatility	2.64	3.67	-1.04
Sortino ratio: Return per unit of downside risk	3.50	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	3.48	—	—
Martin ratio: Return relative to average drawdown	13.27	—	—

GVAL vs. VMFXX - Sharpe Ratio Comparison

The current GVAL Sharpe Ratio is 2.64, which is comparable to the VMFXX Sharpe Ratio of 3.67. The chart below compares the historical Sharpe Ratios of GVAL and VMFXX, 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

GVAL vs. VMFXX - Drawdown Comparison

The maximum GVAL drawdown since its inception was -46.82%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for GVAL and VMFXX.

Drawdown Indicators

	GVAL	VMFXX	Difference
Max Drawdown Largest peak-to-trough decline	-46.82%	0.00%	-46.82%
Max Drawdown (1Y) Largest decline over 1 year	-11.50%	0.00%	-11.50%
Max Drawdown (3Y) Largest decline over 3 years	-15.72%	0.00%	-15.72%
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	0.00%	-30.83%
Max Drawdown (10Y) Largest decline over 10 years	-46.82%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.85%	0.00%	-13.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	0.00%	+3.02%

Volatility

GVAL vs. VMFXX - Volatility Comparison

Cambria Global Value ETF (GVAL) has a higher volatility of 6.00% compared to Vanguard Federal Money Market Fund (VMFXX) at 0.30%. This indicates that GVAL's price experiences larger fluctuations and is considered to be riskier than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GVAL	VMFXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	0.30%	+5.70%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	0.79%	+12.61%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	1.12%	+14.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.56%	0.94%	+17.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.20%	0.94%	+18.26%

GVAL vs. VMFXX - Expense Ratio Comparison

GVAL has a 0.64% expense ratio, which is higher than VMFXX's 0.11% expense ratio.

Dividends

GVAL vs. VMFXX - Dividend Comparison

GVAL's dividend yield for the trailing twelve months is around 2.77%, less than VMFXX's 3.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GVAL Cambria Global Value ETF	2.77%	2.93%	4.75%	6.12%	5.05%	2.97%	1.90%	2.84%	4.65%	2.00%	2.54%	2.11%
VMFXX Vanguard Federal Money Market Fund	3.87%	4.14%	1.63%	4.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GVAL and VMFXX in my portfolio?

GVAL and VMFXX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GVAL or VMFXX?

GVAL has higher volatility (6.00%) compared to VMFXX (0.30%). In terms of maximum drawdown, GVAL dropped -46.82% vs VMFXX's 0.00%.

Which has better risk-adjusted returns?

VMFXX currently has the higher Sharpe Ratio (3.67 vs 2.64), 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.