ITEQ vs. DFNV

Last updated Jun 4, 2026

ITEQ (BlueStar Israel Technology ETF) and DFNV (TrimTabs Donoghue Forlines Risk Managed Innovation ETF) are both Technology Equities funds - ITEQ tracks the BlueStar Israel Global Technology Index while DFNV tracks the TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index. Both are passively managed. Over the past 5 years, ITEQ returned 0.67%/yr vs 9.69%/yr for DFNV. Their correlation of 0.83 suggests significant overlap in exposure. ITEQ charges 0.75%/yr vs 0.69%/yr for DFNV.

Performance

ITEQ vs. DFNV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlueStar Israel Technology ETF (ITEQ) and TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITEQ achieves a 17.19% return, which is significantly higher than DFNV's 2.99% return.

ITEQ

• 1D: -2.89%
• 1M: 7.48%
• YTD: 17.19%
• 6M: 20.44%
• 1Y: 27.92%
• 3Y*: 14.27%
• 5Y*: 0.67%
• 10Y*: 11.00%

DFNV

• 1D: -2.01%
• 1M: 11.80%
• YTD: 2.99%
• 6M: 1.14%
• 1Y: 7.73%
• 3Y*: 19.01%
• 5Y*: 9.69%
• 10Y*: —

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

ITEQ vs. DFNV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
ITEQ BlueStar Israel Technology ETF	17.19%	13.71%	11.70%	4.70%	-30.36%	-8.04%	8.08%
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	2.99%	8.42%	31.93%	26.92%	-24.05%	18.51%	2.92%

Correlation

The correlation between ITEQ and DFNV is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 9, 2020	0.83

The correlation between ITEQ and DFNV shifts across timeframes, from 0.72 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

ITEQ vs. DFNV - Sectors Allocation Comparison

Sectors	ITEQ	DFNV
Technology	58.7%	60.9%
Industrials	16.6%	1.9%
Utilities	10.1%	-
Financial Services	5.1%	-
Consumer Cyclical	3.3%	9.0%
Healthcare	2.3%	16.2%
Energy	2.0%	-
Communication Services	1.4%	12.0%
Basic Materials	-	-
Consumer Defensive	-	-
Real Estate	-	-

Return for Risk

ITEQ vs. DFNV — Risk / Return Rank

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

ITEQ

ITEQ Risk / Return Rank: 35
ITEQ Sharpe Ratio Rank: 33
ITEQ Sortino Ratio Rank: 32
ITEQ Omega Ratio Rank: 30
ITEQ Calmar Ratio Rank: 44
ITEQ Martin Ratio Rank: 37

DFNV

DFNV Risk / Return Rank: 14
DFNV Sharpe Ratio Rank: 15
DFNV Sortino Ratio Rank: 15
DFNV Omega Ratio Rank: 15
DFNV Calmar Ratio Rank: 13
DFNV Martin Ratio Rank: 13

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.

ITEQ vs. DFNV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlueStar Israel Technology ETF (ITEQ) and TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV). 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.

	ITEQ	DFNV	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.44	+0.79
Sortino ratio: Return per unit of downside risk	1.75	0.71	+1.04
Omega ratio: Gain probability vs. loss probability	1.21	1.09	+0.12
Calmar ratio: Return relative to maximum drawdown	2.15	0.36	+1.79
Martin ratio: Return relative to average drawdown	5.76	0.87	+4.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITEQ vs. DFNV - Sharpe Ratio Comparison

The current ITEQ Sharpe Ratio is 1.23, which is higher than the DFNV Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of ITEQ and DFNV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ITEQ	DFNV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.44	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.50	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.54	-0.11

Drawdowns

ITEQ vs. DFNV - Drawdown Comparison

The maximum ITEQ drawdown since its inception was -54.63%, which is greater than DFNV's maximum drawdown of -29.71%. Use the drawdown chart below to compare losses from any high point for ITEQ and DFNV.

Drawdown Indicators

	ITEQ	DFNV	Difference
Max Drawdown Largest peak-to-trough decline	-54.63%	-29.71%	-24.92%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-21.54%	+8.47%
Max Drawdown (3Y) Largest decline over 3 years	-26.78%	-22.72%	-4.06%
Max Drawdown (5Y) Largest decline over 5 years	-50.29%	-29.71%	-20.58%
Max Drawdown (10Y) Largest decline over 10 years	-54.63%	—	—
Current Drawdown Current decline from peak	-13.17%	-3.91%	-9.26%
Average Drawdown Average peak-to-trough decline	-18.52%	-9.47%	-9.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	8.90%	-4.04%

Volatility

ITEQ vs. DFNV - Volatility Comparison

BlueStar Israel Technology ETF (ITEQ) has a higher volatility of 7.71% compared to TrimTabs Donoghue Forlines Risk Managed Innovation ETF (DFNV) at 6.59%. This indicates that ITEQ's price experiences larger fluctuations and is considered to be riskier than DFNV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITEQ	DFNV	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.71%	6.59%	+1.12%
Volatility (6M) Calculated over the trailing 6-month period	17.33%	14.86%	+2.47%
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	17.69%	+5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.96%	19.66%	+5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.40%	19.73%	+3.67%

ITEQ vs. DFNV - Expense Ratio Comparison

ITEQ has a 0.75% expense ratio, which is higher than DFNV's 0.69% expense ratio.

Dividends

ITEQ vs. DFNV - Dividend Comparison

ITEQ's dividend yield for the trailing twelve months is around 0.72%, more than DFNV's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
DFNV TrimTabs Donoghue Forlines Risk Managed Innovation ETF	0.37%	0.38%	1.28%	0.77%	1.20%	4.77%	0.02%
ITEQ BlueStar Israel Technology ETF	0.72%	0.85%	0.01%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ITEQ and DFNV in my portfolio?

ITEQ and DFNV have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITEQ or DFNV?

ITEQ has higher volatility (7.71%) compared to DFNV (6.59%). In terms of maximum drawdown, ITEQ dropped -54.63% vs DFNV's -29.71%.

Which ETF is better, ITEQ or DFNV?

On 5-year performance, DFNV leads with 9.69% vs 0.67% for ITEQ. On fees, DFNV is cheaper at 0.69% per year. On volatility, DFNV has been the lower-risk option at 6.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITEQ or DFNV?

Over the 5-year period, DFNV has performed better with a 9.69% return vs 0.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITEQ or DFNV?

DFNV is cheaper with a 0.69% expense ratio, compared with 0.75% for ITEQ.

Which ETF pays a higher dividend yield, ITEQ or DFNV?

ITEQ has the higher dividend yield at 0.72%, compared with 0.37% for DFNV.

What is the main difference between ITEQ and DFNV?

ITEQ tracks BlueStar Israel Global Technology Index, while DFNV tracks TrimTabs Donoghue Forlines Risk Managed Free Cash Flow Innovation Index. They also come from different issuers: ETFMG and TrimTabs. Their fees differ too: 0.75% for ITEQ and 0.69% for DFNV.

Which has better risk-adjusted returns?

ITEQ currently has the higher Sharpe Ratio (1.23 vs 0.44), 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.