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KVLE vs. DFRA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

KVLE vs. DFRA

Last updated Jun 24, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and DFRA (Donoghue Forlines Yield Enhanced Real Asset ETF) are both Large Cap Value Equities funds - KVLE tracks the 3D/L Value Line Dynamic Core Equity Index while DFRA tracks the FCF Yield Enhanced Real Asset Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, KVLE returned 14.36%/yr vs 11.30%/yr for DFRA. A 0.70 correlation means they provide meaningful diversification when combined. KVLE charges 0.56%/yr vs 0.69%/yr for DFRA.

Performance

KVLE vs. DFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and Donoghue Forlines Yield Enhanced Real Asset ETF (DFRA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, KVLE achieves a 9.27% return, which is significantly higher than DFRA's 4.86% return.

KVLE

1D
-0.36%
1M
0.18%
YTD
9.27%
6M
8.32%
1Y
17.71%
3Y*
14.36%
5Y*
10.02%
10Y*
—

DFRA

1D
-0.69%
1M
-3.79%
YTD
4.86%
6M
4.29%
1Y
9.80%
3Y*
11.30%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

KVLE vs. DFRA - Yearly Performance Comparison

2026 (YTD)20252024202320222021
KVLE
KFA Value Liner Dynamic Core Equity Index ETF		9.27%9.34%18.25%10.49%-5.96%2.53%
DFRA
Donoghue Forlines Yield Enhanced Real Asset ETF		4.86%6.64%7.05%18.89%7.42%3.86%

Correlation

The correlation between KVLE and DFRA is 0.67, 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

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Dec 14, 2021

0.70

The correlation between KVLE and DFRA has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

KVLE vs. DFRA - Sectors Allocation Comparison

Sectors
KVLE
DFRA

Technology

31.4%
1.5%

Financial Services

12.2%

-

Real Estate

11.8%
12.1%

Consumer Cyclical

9.4%

-

Healthcare

9.3%

-

Industrials

8.9%
35.7%

Consumer Defensive

6.6%
3.2%

Energy

4.4%
26.3%

Communication Services

4.1%

-

Basic Materials

1.3%
18.5%

Utilities

0.6%
2.8%

Technology

KVLE
31.4%
DFRA
1.5%

Financial Services

KVLE
12.2%
DFRA

-

Real Estate

KVLE
11.8%
DFRA
12.1%

Consumer Cyclical

KVLE
9.4%
DFRA

-

Healthcare

KVLE
9.3%
DFRA

-

Industrials

KVLE
8.9%
DFRA
35.7%

Consumer Defensive

KVLE
6.6%
DFRA
3.2%

Energy

KVLE
4.4%
DFRA
26.3%

Communication Services

KVLE
4.1%
DFRA

-

Basic Materials

KVLE
1.3%
DFRA
18.5%

Utilities

KVLE
0.6%
DFRA
2.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

KFA Value Liner Dynamic Core Equity Index ETF

Donoghue Forlines Yield Enhanced Real Asset ETF

Often compared with KVLE:
KVLE vs. SPYKVLE vs. SCHDKVLE vs. VTVKVLE vs. VOOKVLE vs. DOGGKVLE vs. KBAKVLE vs. KLIP
Often compared with DFRA:
DFRA vs. VOODFRA vs. LVDSDFRA vs. BDIVDFRA vs. CGDVDFRA vs. PRFDFRA vs. DHLXDFRA vs. RPV

Return for Risk

KVLE vs. DFRA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
KVLE
KVLE Risk / Return Rank: 4646
Overall Rank
KVLE Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
KVLE Sortino Ratio Rank: 4949
Sortino Ratio Rank
KVLE Omega Ratio Rank: 4747
Omega Ratio Rank
KVLE Calmar Ratio Rank: 3939
Calmar Ratio Rank
KVLE Martin Ratio Rank: 4646
Martin Ratio Rank
DFRA
DFRA Risk / Return Rank: 2020
Overall Rank
DFRA Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
DFRA Sortino Ratio Rank: 1818
Sortino Ratio Rank
DFRA Omega Ratio Rank: 1919
Omega Ratio Rank
DFRA Calmar Ratio Rank: 2020
Calmar Ratio Rank
DFRA Martin Ratio Rank: 2121
Martin Ratio Rank
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.

KVLE vs. DFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and Donoghue Forlines Yield Enhanced Real Asset ETF (DFRA). 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.

KVLEDFRADifference
Sharpe ratioReturn per unit of total volatility
1.58
0.65

+0.93

Sortino ratioReturn per unit of downside risk
2.25
0.97

+1.27

Omega ratioGain probability vs. loss probability

1.28

1.13

+0.16

Calmar ratioReturn relative to maximum drawdown

1.85

0.85

+1.01

Martin ratioReturn relative to average drawdown

7.07

2.48

+4.60

KVLE vs. DFRA - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.58, which is higher than the DFRA Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of KVLE and DFRA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

KVLE vs. DFRA - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum DFRA drawdown of -19.35%. Use the drawdown chart below to compare losses from any high point for KVLE and DFRA.

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Drawdown Indicators

KVLEDFRADifference

Max Drawdown

Largest peak-to-trough decline

-18.38%

-19.35%

+0.97%

Max Drawdown (1Y)

Largest decline over 1 year

-9.59%

-11.64%

+2.05%

Max Drawdown (3Y)

Largest decline over 3 years

-16.39%

-19.35%

+2.96%

Max Drawdown (5Y)

Largest decline over 5 years

-18.38%

—

—

Current Drawdown

Current decline from peak

-1.76%

-10.50%

+8.74%

Average Drawdown

Average peak-to-trough decline

-3.19%

-4.02%

+0.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

3.97%

-1.46%

Volatility

KVLE vs. DFRA - Volatility Comparison

The current volatility for KFA Value Liner Dynamic Core Equity Index ETF (KVLE) is 3.68%, while Donoghue Forlines Yield Enhanced Real Asset ETF (DFRA) has a volatility of 4.19%. This indicates that KVLE experiences smaller price fluctuations and is considered to be less risky than DFRA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

KVLEDFRADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.68%

4.19%

-0.51%

Volatility (6M)

Calculated over the trailing 6-month period

8.73%

13.19%

-4.46%

Volatility (1Y)

Calculated over the trailing 1-year period

11.25%

15.07%

-3.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.53%

17.50%

-2.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.33%

17.50%

-3.17%

KVLE vs. DFRA - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is lower than DFRA's 0.69% expense ratio.

Dividends

KVLE vs. DFRA - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.37%, more than DFRA's 4.35% yield.

PositionTTM202520242023202220212020
DFRA
Donoghue Forlines Yield Enhanced Real Asset ETF		4.35%2.86%10.13%4.70%8.40%0.08%0.00%
KVLE
KFA Value Liner Dynamic Core Equity Index ETF		7.37%7.90%7.99%2.53%5.78%9.51%0.35%

Frequently Asked Questions

KVLE and DFRA have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DFRA has higher volatility (4.19%) compared to KVLE (3.68%). In terms of maximum drawdown, KVLE dropped -18.38% vs DFRA's -19.35%.

On 3-year performance, KVLE leads with 14.36% vs 11.30% for DFRA. On fees, KVLE is cheaper at 0.56% per year. On volatility, KVLE has been the lower-risk option at 3.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, KVLE has performed better with a 14.36% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KVLE is cheaper with a 0.56% expense ratio, compared with 0.69% for DFRA.

KVLE has the higher dividend yield at 7.37%, compared with 4.35% for DFRA.

KVLE tracks 3D/L Value Line Dynamic Core Equity Index, while DFRA tracks FCF Yield Enhanced Real Asset Index - Benchmark TR Net. They also come from different issuers: CICC and Donoghue Forlines. Their fees differ too: 0.56% for KVLE and 0.69% for DFRA.

KVLE currently has the higher Sharpe Ratio (1.58 vs 0.65), 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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