KVLE vs. IVOL

Last updated Jun 4, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - KVLE is a Large Cap Value Equities fund tracking the 3D/L Value Line Dynamic Core Equity Index, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. KVLE is passively managed, while IVOL is actively managed. Over the past 5 years, KVLE returned 9.67%/yr vs -5.77%/yr for IVOL. At a 0.01 correlation, their price movements are largely independent. KVLE charges 0.56%/yr vs 0.99%/yr for IVOL.

Performance

KVLE vs. IVOL - 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 Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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 IVOL's -6.33% return.

KVLE

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

IVOL

• 1D: -0.34%
• 1M: -3.62%
• YTD: -6.33%
• 6M: -7.21%
• 1Y: -5.59%
• 3Y*: -3.54%
• 5Y*: -5.77%
• 10Y*: —

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

KVLE vs. IVOL - 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%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-6.33%	11.97%	-11.07%	-5.18%	-12.69%	-0.31%	2.84%

Correlation

The correlation between KVLE and IVOL is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Nov 25, 2020	0.01

KVLE vs. IVOL - Sectors Allocation Comparison

Sectors	KVLE	IVOL
Technology	27.0%	-
Industrials	12.6%	-
Financial Services	12.2%	77.1%
Real Estate	12.0%	-
Healthcare	9.3%	-
Consumer Cyclical	9.2%	-
Consumer Defensive	6.8%	-
Energy	4.6%	-
Communication Services	3.9%	-
Basic Materials	1.3%	-
Utilities	0.7%	-

Return for Risk

KVLE vs. IVOL — 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

IVOL

IVOL Risk / Return Rank: 3
IVOL Sharpe Ratio Rank: 3
IVOL Sortino Ratio Rank: 3
IVOL Omega Ratio Rank: 3
IVOL Calmar Ratio Rank: 4
IVOL Martin Ratio Rank: 3

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. IVOL - 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 Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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	IVOL	Difference
Sharpe ratio Return per unit of total volatility	1.72	-0.81	+2.53
Sortino ratio Return per unit of downside risk	2.45	-1.14	+3.60
Omega ratio Gain probability vs. loss probability	1.31	0.88	+0.43
Calmar ratio Return relative to maximum drawdown	1.97	-0.57	+2.55
Martin ratio Return relative to average drawdown	7.57	-1.28	+8.85
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. IVOL - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.72, which is higher than the IVOL Sharpe Ratio of -0.81. The chart below compares the historical Sharpe Ratios of KVLE and IVOL, 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	IVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	-0.81	+2.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	-0.45	+1.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	-0.11	+0.99

Drawdowns

KVLE vs. IVOL - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, smaller than the maximum IVOL drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for KVLE and IVOL.

Drawdown Indicators

	KVLE	IVOL	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-31.16%	+12.78%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-9.81%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	-16.63%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	-30.62%	+12.24%
Current Drawdown Current decline from peak	-0.91%	-26.33%	+25.42%
Average Drawdown Average peak-to-trough decline	-3.21%	-13.30%	+10.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	4.38%	-1.88%

Volatility

KVLE vs. IVOL - Volatility Comparison

KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 2.64% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 1.07%. This indicates that KVLE's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KVLE	IVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	1.07%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	4.44%	+3.91%
Volatility (1Y) Calculated over the trailing 1-year period	11.04%	6.89%	+4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	12.84%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	11.99%	+2.34%

KVLE vs. IVOL - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is lower than IVOL's 0.99% expense ratio.

Dividends

KVLE vs. IVOL - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.30%, more than IVOL's 3.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.89%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%
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%

Frequently Asked Questions

Can I hold both KVLE and IVOL in my portfolio?

KVLE and IVOL have a correlation of -0.08, 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 IVOL?

KVLE has higher volatility (2.64%) compared to IVOL (1.07%). In terms of maximum drawdown, KVLE dropped -18.38% vs IVOL's -31.16%.

Which ETF is better, KVLE or IVOL?

On 5-year performance, KVLE leads with 9.67% vs -5.77% for IVOL. On fees, KVLE is cheaper at 0.56% per year. On volatility, IVOL has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KVLE or IVOL?

Over the 5-year period, KVLE has performed better with a 9.67% return vs -5.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KVLE or IVOL?

KVLE is cheaper with a 0.56% expense ratio, compared with 0.99% for IVOL.

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

KVLE has the higher dividend yield at 7.30%, compared with 3.89% for IVOL.

What is the main difference between KVLE and IVOL?

KVLE is categorized as Large Cap Value Equities, while IVOL is Inflation-Protected Bonds. Their fees differ too: 0.56% for KVLE and 0.99% for IVOL.

Which has better risk-adjusted returns?

KVLE currently has the higher Sharpe Ratio (1.72 vs -0.81), 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.