IVSS vs. OPTZ

Last updated Jun 3, 2026

IVSS (Applied Finance IVS US SMID ETF) and OPTZ (Optimize Strategy Index ETF) are both Mid Cap Blend Equities funds. IVSS is actively managed, while OPTZ is passively managed. A 0.76 correlation means they provide meaningful diversification when combined. IVSS charges 0.59%/yr vs 0.25%/yr for OPTZ.

Performance

IVSS vs. OPTZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Finance IVS US SMID ETF (IVSS) and Optimize Strategy Index ETF (OPTZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVSS achieves a 12.86% return, which is significantly lower than OPTZ's 31.03% return.

IVSS

• 1D: 0.11%
• 1M: 1.57%
• YTD: 12.86%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OPTZ

• 1D: 2.22%
• 1M: 11.82%
• YTD: 31.03%
• 6M: 32.85%
• 1Y: 63.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVSS vs. OPTZ - Yearly Performance Comparison

	2026 (YTD)	2025
IVSS Applied Finance IVS US SMID ETF	12.86%	-0.02%
OPTZ Optimize Strategy Index ETF	31.03%	0.36%

Correlation

The correlation between IVSS and OPTZ is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.76

Return for Risk

IVSS vs. OPTZ — Risk / Return Rank

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

OPTZ

OPTZ Risk / Return Rank: 92
OPTZ Sharpe Ratio Rank: 93
OPTZ Sortino Ratio Rank: 92
OPTZ Omega Ratio Rank: 90
OPTZ Calmar Ratio Rank: 91
OPTZ Martin Ratio Rank: 94

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.

IVSS vs. OPTZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Finance IVS US SMID ETF (IVSS) and Optimize Strategy Index ETF (OPTZ). 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

	IVSS	OPTZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.88	1.70	+0.17

Drawdowns

IVSS vs. OPTZ - Drawdown Comparison

The maximum IVSS drawdown since its inception was -8.31%, smaller than the maximum OPTZ drawdown of -25.75%. Use the drawdown chart below to compare losses from any high point for IVSS and OPTZ.

Drawdown Indicators

	IVSS	OPTZ	Difference
Max Drawdown Largest peak-to-trough decline	-8.31%	-25.75%	+17.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.63%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.85%	-3.40%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.33%	—

Volatility

Volatility by Period

	IVSS	OPTZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	18.09%	-2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	20.68%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.18%	20.68%	-5.50%

IVSS vs. OPTZ - Expense Ratio Comparison

IVSS has a 0.59% expense ratio, which is higher than OPTZ's 0.25% expense ratio.

Dividends

IVSS vs. OPTZ - Dividend Comparison

IVSS's dividend yield for the trailing twelve months is around 0.07%, less than OPTZ's 0.45% yield.

Position	TTM	2025	2024
IVSS Applied Finance IVS US SMID ETF	0.07%	0.07%	0.00%
OPTZ Optimize Strategy Index ETF	0.45%	0.58%	0.32%

Frequently Asked Questions

Can I hold both IVSS and OPTZ in my portfolio?

IVSS and OPTZ have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IVSS or OPTZ?

On fees, OPTZ is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IVSS or OPTZ?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.59% for IVSS.

Which ETF pays a higher dividend yield, IVSS or OPTZ?

OPTZ has the higher dividend yield at 0.45%, compared with 0.07% for IVSS.

What is the main difference between IVSS and OPTZ?

They also come from different issuers: Applied Finance and Optimize. Their fees differ too: 0.59% for IVSS and 0.25% for OPTZ.