IVOV vs. DVLU
IVOV (Vanguard S&P Mid-Cap 400 Value ETF) and DVLU (First Trust Dorsey Wright Momentum & Value ETF) are both exchange-traded funds - IVOV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value Index, while DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, IVOV returned 8.43%/yr vs 12.25%/yr for DVLU. Their correlation of 0.85 suggests significant overlap in exposure. IVOV charges 0.10%/yr vs 0.60%/yr for DVLU.
Performance
IVOV vs. DVLU - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IVOV having a 10.60% return and DVLU slightly higher at 10.79%.
IVOV
- 1D
- -0.41%
- 1M
- 2.93%
- YTD
- 10.60%
- 6M
- 8.95%
- 1Y
- 20.62%
- 3Y*
- 14.32%
- 5Y*
- 8.43%
- 10Y*
- 10.85%
DVLU
- 1D
- 0.30%
- 1M
- 4.14%
- YTD
- 10.79%
- 6M
- 8.85%
- 1Y
- 36.17%
- 3Y*
- 21.46%
- 5Y*
- 12.25%
- 10Y*
- —
IVOV vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 10.60% | 7.61% | 11.53% | 15.38% | -7.20% | 30.50% | 3.70% | 25.91% | -17.15% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.79% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between IVOV and DVLU is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.85 |
The correlation between IVOV and DVLU has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
IVOV vs. DVLU — Risk / Return Rank
IVOV
DVLU
IVOV vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value ETF (IVOV) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| IVOV | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.97 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.74 | 10.71 | -3.97 |
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Drawdowns
IVOV vs. DVLU - Drawdown Comparison
The maximum IVOV drawdown since its inception was -45.99%, smaller than the maximum DVLU drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for IVOV and DVLU.
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Drawdown Indicators
| IVOV | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.99% | -53.26% | +7.27% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -12.24% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -22.61% | -24.86% | +2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -22.61% | -24.86% | +2.25% |
Max Drawdown (10Y)Largest decline over 10 years | -45.99% | — | — |
Current DrawdownCurrent decline from peak | -1.21% | -0.65% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -5.41% | -8.73% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 3.39% | -0.32% |
Volatility
IVOV vs. DVLU - Volatility Comparison
Vanguard S&P Mid-Cap 400 Value ETF (IVOV) and First Trust Dorsey Wright Momentum & Value ETF (DVLU) have volatilities of 3.76% and 3.70%, 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.
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Volatility by Period
| IVOV | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | 3.70% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 12.34% | -1.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.33% | 16.43% | -1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 21.39% | -1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.70% | 25.73% | -4.03% |
IVOV vs. DVLU - Expense Ratio Comparison
IVOV has a 0.10% expense ratio, which is lower than DVLU's 0.60% expense ratio.
Dividends
IVOV vs. DVLU - Dividend Comparison
IVOV's dividend yield for the trailing twelve months is around 1.65%, more than DVLU's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% | 0.00% | 0.00% |
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 1.65% | 1.82% | 1.74% | 1.52% | 1.97% | 1.78% | 2.42% | 1.75% | 1.87% | 1.55% | 1.51% | 1.66% |
Frequently Asked Questions
IVOV and DVLU have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOV has higher volatility (3.76%) compared to DVLU (3.70%). In terms of maximum drawdown, IVOV dropped -45.99% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 12.25% vs 8.43% for IVOV. On fees, IVOV is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.25% return vs 8.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOV is cheaper with a 0.10% expense ratio, compared with 0.60% for DVLU.
IVOV has the higher dividend yield at 1.65%, compared with 0.62% for DVLU.
IVOV is categorized as Mid Cap Value Equities, while DVLU is Momentum. IVOV tracks S&P MidCap 400 Value Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: Vanguard and First Trust. Their fees differ too: 0.10% for IVOV and 0.60% for DVLU.
DVLU currently has the higher Sharpe Ratio (2.22 vs 1.35), 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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