IVSS vs. FLDZ
IVSS (Applied Finance IVS US SMID ETF) and FLDZ (RiverNorth Patriot ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. IVSS charges 0.59%/yr vs 0.77%/yr for FLDZ.
Performance
IVSS vs. FLDZ - Performance Comparison
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Returns By Period
In the year-to-date period, IVSS achieves a 12.86% return, which is significantly higher than FLDZ's 4.53% return.
IVSS
- 1D
- 0.11%
- 1M
- 1.57%
- YTD
- 12.86%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FLDZ
- 1D
- -0.11%
- 1M
- -1.15%
- YTD
- 4.53%
- 6M
- 4.21%
- 1Y
- 9.09%
- 3Y*
- 13.26%
- 5Y*
- —
- 10Y*
- —
IVSS vs. FLDZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IVSS Applied Finance IVS US SMID ETF | 12.86% | -0.02% |
FLDZ RiverNorth Patriot ETF | 4.53% | -1.08% |
Correlation
The correlation between IVSS and FLDZ is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025 | 0.84 |
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Return for Risk
IVSS vs. FLDZ — Risk / Return Rank
IVSS
FLDZ
IVSS vs. FLDZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS US SMID ETF (IVSS) and RiverNorth Patriot ETF (FLDZ). 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.
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Sharpe Ratios by Period
| IVSS | FLDZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 0.81 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.88 | 0.34 | +1.54 |
Drawdowns
IVSS vs. FLDZ - Drawdown Comparison
The maximum IVSS drawdown since its inception was -8.31%, smaller than the maximum FLDZ drawdown of -19.54%. Use the drawdown chart below to compare losses from any high point for IVSS and FLDZ.
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Drawdown Indicators
| IVSS | FLDZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.31% | -19.54% | +11.23% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.25% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -17.43% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.52% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -1.85% | -5.99% | +4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.05% | — |
Volatility
IVSS vs. FLDZ - Volatility Comparison
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Volatility by Period
| IVSS | FLDZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 2.62% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.18% | 11.31% | +3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.18% | 16.92% | -1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 16.92% | -1.74% |
IVSS vs. FLDZ - Expense Ratio Comparison
IVSS has a 0.59% expense ratio, which is lower than FLDZ's 0.77% expense ratio.
Dividends
IVSS vs. FLDZ - Dividend Comparison
IVSS's dividend yield for the trailing twelve months is around 0.07%, less than FLDZ's 1.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
FLDZ RiverNorth Patriot ETF | 1.47% | 1.54% | 1.17% | 1.39% | 1.52% |
IVSS Applied Finance IVS US SMID ETF | 0.07% | 0.07% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IVSS and FLDZ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IVSS is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IVSS is cheaper with a 0.59% expense ratio, compared with 0.77% for FLDZ.
FLDZ has the higher dividend yield at 1.47%, compared with 0.07% for IVSS.
They also come from different issuers: Applied Finance and RiverNorth. Their fees differ too: 0.59% for IVSS and 0.77% for FLDZ.
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