KVLE vs. ILCV

Last updated Jun 4, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and ILCV (iShares Morningstar Value ETF) are both Large Cap Value Equities funds - KVLE tracks the 3D/L Value Line Dynamic Core Equity Index while ILCV tracks the Morningstar US Large-Mid Cap Broad Value Index. Both are passively managed. Over the past 5 years, KVLE returned 9.67%/yr vs 11.42%/yr for ILCV. Their correlation of 0.89 suggests significant overlap in exposure. KVLE charges 0.56%/yr vs 0.04%/yr for ILCV.

Performance

KVLE vs. ILCV - 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 iShares Morningstar Value ETF (ILCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KVLE achieves a 10.22% return, which is significantly higher than ILCV's 7.75% return.

KVLE

• 1D: -0.91%
• 1M: 4.69%
• YTD: 10.22%
• 6M: 9.55%
• 1Y: 18.85%
• 3Y*: 14.93%
• 5Y*: 9.67%
• 10Y*: —

ILCV

• 1D: -0.44%
• 1M: 2.76%
• YTD: 7.75%
• 6M: 7.41%
• 1Y: 26.58%
• 3Y*: 18.61%
• 5Y*: 11.42%
• 10Y*: 11.68%

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

KVLE vs. ILCV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KVLE KFA Value Liner Dynamic Core Equity Index ETF	10.22%	9.34%	18.25%	10.49%	-5.96%	28.01%	1.36%
ILCV iShares Morningstar Value ETF	7.75%	18.79%	17.03%	14.43%	-7.02%	26.71%	1.45%

Correlation

The correlation between KVLE and ILCV is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020	0.89

The correlation between KVLE and ILCV has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

KVLE vs. ILCV - Sectors Allocation Comparison

Sectors	KVLE	ILCV
Technology	27.0%	23.8%
Industrials	12.6%	8.8%
Financial Services	12.2%	16.5%
Real Estate	12.0%	2.0%
Healthcare	9.3%	11.5%
Consumer Cyclical	9.2%	9.5%
Consumer Defensive	6.8%	7.6%
Energy	4.6%	6.0%
Communication Services	3.9%	8.0%
Basic Materials	1.3%	2.4%
Utilities	0.7%	3.5%

Return for Risk

KVLE vs. ILCV — Risk / Return Rank

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

KVLE

KVLE Risk / Return Rank: 47
KVLE Sharpe Ratio Rank: 50
KVLE Sortino Ratio Rank: 51
KVLE Omega Ratio Rank: 49
KVLE Calmar Ratio Rank: 40
KVLE Martin Ratio Rank: 46

ILCV

ILCV Risk / Return Rank: 82
ILCV Sharpe Ratio Rank: 82
ILCV Sortino Ratio Rank: 84
ILCV Omega Ratio Rank: 81
ILCV Calmar Ratio Rank: 79
ILCV Martin Ratio Rank: 83

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. ILCV - 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 iShares Morningstar Value ETF (ILCV). 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.

	KVLE	ILCV	Difference
Sharpe ratio Return per unit of total volatility	1.72	2.72	-1.01
Sortino ratio Return per unit of downside risk	2.45	3.85	-1.39
Omega ratio Gain probability vs. loss probability	1.31	1.50	-0.19
Calmar ratio Return relative to maximum drawdown	1.97	4.08	-2.10
Martin ratio Return relative to average drawdown	7.57	16.87	-9.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KVLE vs. ILCV - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.72, which is lower than the ILCV Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of KVLE and ILCV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KVLE	ILCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	2.72	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.81	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.46	+0.42

Drawdowns

KVLE vs. ILCV - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum ILCV drawdown of -58.63%. Use the drawdown chart below to compare losses from any high point for KVLE and ILCV.

Drawdown Indicators

	KVLE	ILCV	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-58.63%	+40.25%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-6.55%	-3.04%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	-14.95%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	-18.58%	+0.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.53%	—
Current Drawdown Current decline from peak	-0.91%	-0.60%	-0.31%
Average Drawdown Average peak-to-trough decline	-3.21%	-9.32%	+6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	1.58%	+0.92%

Volatility

KVLE vs. ILCV - Volatility Comparison

KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 2.64% compared to iShares Morningstar Value ETF (ILCV) at 2.01%. This indicates that KVLE's price experiences larger fluctuations and is considered to be riskier than ILCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KVLE	ILCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.01%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	6.97%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	9.82%	+1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	14.21%	+0.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	16.66%	-2.33%

KVLE vs. ILCV - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is higher than ILCV's 0.04% expense ratio.

Dividends

KVLE vs. ILCV - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.30%, more than ILCV's 1.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCV iShares Morningstar Value ETF	1.63%	1.77%	1.99%	2.27%	2.32%	2.01%	2.96%	2.70%	2.93%	2.32%	2.76%	3.01%
KVLE KFA Value Liner Dynamic Core Equity Index ETF	7.30%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KVLE and ILCV in my portfolio?

KVLE and ILCV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KVLE or ILCV?

KVLE has higher volatility (2.64%) compared to ILCV (2.01%). In terms of maximum drawdown, KVLE dropped -18.38% vs ILCV's -58.63%.

Which ETF is better, KVLE or ILCV?

On 5-year performance, ILCV leads with 11.42% vs 9.67% for KVLE. On fees, ILCV is cheaper at 0.04% per year. On volatility, ILCV has been the lower-risk option at 2.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KVLE or ILCV?

Over the 5-year period, ILCV has performed better with a 11.42% return vs 9.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KVLE or ILCV?

ILCV is cheaper with a 0.04% expense ratio, compared with 0.56% for KVLE.

Which ETF pays a higher dividend yield, KVLE or ILCV?

KVLE has the higher dividend yield at 7.30%, compared with 1.63% for ILCV.

What is the main difference between KVLE and ILCV?

KVLE tracks 3D/L Value Line Dynamic Core Equity Index, while ILCV tracks Morningstar US Large-Mid Cap Broad Value Index. They also come from different issuers: CICC and iShares. Their fees differ too: 0.56% for KVLE and 0.04% for ILCV.

Which has better risk-adjusted returns?

ILCV currently has the higher Sharpe Ratio (2.72 vs 1.72), 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.