IVSI vs. CIL

Last updated Jun 3, 2026

IVSI (Applied Finance IVS International Large ETF) and CIL (VictoryShares International Volatility Wtd ETF) are both Foreign Large Cap Equities funds. IVSI is actively managed, while CIL is passively managed. At a 0.41 correlation, their price movements are largely independent. IVSI charges 0.65%/yr vs 0.45%/yr for CIL.

Performance

IVSI vs. CIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS International Large ETF (IVSI) and VictoryShares International Volatility Wtd ETF (CIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSI achieves a 10.20% return, which is significantly higher than CIL's 5.44% return.

IVSI

• 1D: 0.30%
• 1M: 2.96%
• YTD: 10.20%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CIL

• 1D: 0.00%
• 1M: 0.00%
• YTD: 5.44%
• 6M: 8.27%
• 1Y: 16.20%
• 3Y*: 15.59%
• 5Y*: 7.45%
• 10Y*: 8.21%

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

IVSI vs. CIL - Yearly Performance Comparison

	2026 (YTD)	2025
IVSI Applied Finance IVS International Large ETF	10.20%	0.53%
CIL VictoryShares International Volatility Wtd ETF	5.44%	1.03%

Correlation

The correlation between IVSI and CIL is 0.41, 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 Dec 12, 2025	0.41

Return for Risk

IVSI vs. CIL — Risk / Return Rank

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

CIL

CIL Risk / Return Rank: 73
CIL Sharpe Ratio Rank: 61
CIL Sortino Ratio Rank: 62
CIL Omega Ratio Rank: 73
CIL Calmar Ratio Rank: 81
CIL Martin Ratio Rank: 86

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.

IVSI vs. CIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS International Large ETF (IVSI) and VictoryShares International Volatility Wtd ETF (CIL). 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.

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

Sharpe Ratios by Period

	IVSI	CIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	0.43	+0.96

Drawdowns

IVSI vs. CIL - Drawdown Comparison

The maximum IVSI drawdown since its inception was -11.73%, smaller than the maximum CIL drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for IVSI and CIL.

Drawdown Indicators

	IVSI	CIL	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-36.27%	+24.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.60%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.96%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.27%	—
Current Drawdown Current decline from peak	-0.71%	-0.58%	-0.13%
Average Drawdown Average peak-to-trough decline	-2.61%	-6.56%	+3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.07%	—

Volatility

Volatility by Period

	IVSI	CIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	8.26%	+9.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	16.49%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	17.18%	+0.63%

IVSI vs. CIL - Expense Ratio Comparison

IVSI has a 0.65% expense ratio, which is higher than CIL's 0.45% expense ratio.

Dividends

IVSI vs. CIL - Dividend Comparison

IVSI's dividend yield for the trailing twelve months is around 0.04%, less than CIL's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIL VictoryShares International Volatility Wtd ETF	1.67%	2.70%	3.46%	2.91%	2.41%	3.04%	1.73%	2.69%	2.85%	2.17%	2.34%	0.43%
IVSI Applied Finance IVS International Large ETF	0.04%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVSI and CIL in my portfolio?

IVSI and CIL have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSI or CIL?

On fees, CIL is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSI or CIL?

CIL is cheaper with a 0.45% expense ratio, compared with 0.65% for IVSI.

Which ETF pays a higher dividend yield, IVSI or CIL?

CIL has the higher dividend yield at 1.67%, compared with 0.04% for IVSI.

What is the main difference between IVSI and CIL?

They also come from different issuers: Applied Finance and Crestview. Their fees differ too: 0.65% for IVSI and 0.45% for CIL.