ISVL vs. TCV

Last updated Jul 14, 2026

ISVL (iShares International Developed Small Cap Value Factor ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. ISVL is passively managed, while TCV is actively managed. At a 0.50 correlation, their price movements are largely independent. ISVL charges 0.30%/yr vs 0.85%/yr for TCV.

Performance

ISVL vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Developed Small Cap Value Factor ETF (ISVL) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISVL achieves a 8.89% return, which is significantly lower than TCV's 27.23% return.

ISVL

• 1D: -0.76%
• 1M: -1.47%
• 6M: 5.43%
• YTD: 8.89%
• 1Y: 23.87%
• 3Y*: 19.91%
• 5Y*: 10.60%
• 10Y*: —

TCV

• 1D: 1.28%
• 1M: 1.11%
• 6M: 15.54%
• YTD: 27.23%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISVL vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
ISVL iShares International Developed Small Cap Value Factor ETF	8.89%	14.14%
TCV Towle Value ETF	27.23%	2.99%

Correlation

The correlation between ISVL and TCV is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 17, 2025	0.50

Return for Risk

ISVL vs. TCV — Risk / Return Rank

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

ISVL

ISVL Risk / Return Rank: 57
ISVL Sharpe Ratio Rank: 61
ISVL Sortino Ratio Rank: 63
ISVL Omega Ratio Rank: 61
ISVL Calmar Ratio Rank: 47
ISVL Martin Ratio Rank: 55

TCV

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.

ISVL vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Small Cap Value Factor ETF (ISVL) and Towle Value ETF (TCV). 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.

	ISVL	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.33	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	1.92	—	—
Martin ratio: Return relative to average drawdown	7.41	—	—

Drawdowns

ISVL vs. TCV - Drawdown Comparison

The maximum ISVL drawdown since its inception was -30.48%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for ISVL and TCV.

Drawdown Indicators

	ISVL	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-30.48%	-12.23%	-18.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.93%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	—	—
Current Drawdown Current decline from peak	-1.77%	0.00%	-1.77%
Average Drawdown Average peak-to-trough decline	-6.56%	-3.32%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	—	—

Volatility

Volatility by Period

	ISVL	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.83%	21.21%	-6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	21.21%	-4.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	21.21%	-4.48%

ISVL vs. TCV - Expense Ratio Comparison

ISVL has a 0.30% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

ISVL vs. TCV - Dividend Comparison

ISVL's dividend yield for the trailing twelve months is around 3.17%, more than TCV's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021
ISVL iShares International Developed Small Cap Value Factor ETF	3.17%	2.69%	3.92%	3.82%	3.37%	2.82%
TCV Towle Value ETF	0.57%	0.31%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISVL and TCV in my portfolio?

ISVL and TCV have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISVL or TCV?

On fees, ISVL is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISVL or TCV?

ISVL is cheaper with a 0.30% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, ISVL or TCV?

ISVL has the higher dividend yield at 3.17%, compared with 0.57% for TCV.

What is the main difference between ISVL and TCV?

They also come from different issuers: iShares and Towle. Their fees differ too: 0.30% for ISVL and 0.85% for TCV.