KVLE vs. IVOL

Last updated Apr 1, 2026

Compare and contrast key facts about KFA Value Liner Dynamic Core Equity Index ETF (KVLE) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL).

KVLE and IVOL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. KVLE is a passively managed fund by CICC that tracks the performance of the 3D/L Value Line Dynamic Core Equity Index. It was launched on Nov 24, 2020. IVOL is an actively managed fund by CICC. It was launched on May 13, 2019.

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.

KVLE vs. IVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KVLE KFA Value Liner Dynamic Core Equity Index ETF	-2.24%	9.34%	18.25%	10.49%	-5.96%	28.01%	1.36%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-1.46%	11.97%	-11.07%	-5.18%	-12.69%	-0.31%	2.84%

Returns By Period

In the year-to-date period, KVLE achieves a -2.24% return, which is significantly lower than IVOL's -1.46% return.

KVLE

• 1D: 2.22%
• 1M: -5.83%
• YTD: -2.24%
• 6M: -3.41%
• 1Y: 8.52%
• 3Y*: 10.14%
• 5Y*: 8.53%
• 10Y*: —

IVOL

• 1D: -0.05%
• 1M: -1.70%
• YTD: -1.46%
• 6M: -1.19%
• 1Y: 3.84%
• 3Y*: -2.83%
• 5Y*: -4.62%
• 10Y*: —

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

KVLE vs. IVOL - Expense Ratio Comparison

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

IVOL

Quadratic Interest Rate Volatility & Inflation Hedge ETF

KVLE

KFA Value Liner Dynamic Core Equity Index ETF

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: 32
KVLE Sharpe Ratio Rank: 29
KVLE Sortino Ratio Rank: 30
KVLE Omega Ratio Rank: 31
KVLE Calmar Ratio Rank: 33
KVLE Martin Ratio Rank: 36

IVOL

IVOL Risk / Return Rank: 23
IVOL Sharpe Ratio Rank: 23
IVOL Sortino Ratio Rank: 23
IVOL Omega Ratio Rank: 23
IVOL Calmar Ratio Rank: 25
IVOL Martin Ratio Rank: 20

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	0.53	0.37	+0.16
Sortino ratio Return per unit of downside risk	0.87	0.64	+0.23
Omega ratio Gain probability vs. loss probability	1.12	1.08	+0.04
Calmar ratio Return relative to maximum drawdown	0.83	0.55	+0.28
Martin ratio Return relative to average drawdown	3.33	1.06	+2.27
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 0.53, which is higher than the IVOL Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of KVLE and IVOL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	KVLE	IVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.53	0.37	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	-0.36	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	-0.05	+0.78

Correlation

The correlation between KVLE and IVOL is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

KVLE vs. IVOL - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 8.23%, more than IVOL's 3.73% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
KVLE KFA Value Liner Dynamic Core Equity Index ETF	8.23%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%	0.00%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.73%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%

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	-11.56%	-6.72%	-4.84%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	-31.16%	+12.78%
Current Drawdown Current decline from peak	-7.58%	-22.51%	+14.93%
Average Drawdown Average peak-to-trough decline	-3.27%	-13.02%	+9.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.89%	3.50%	-0.61%

Volatility

KVLE vs. IVOL - Volatility Comparison

KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 4.47% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 2.34%. 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	4.47%	2.34%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	4.41%	+4.16%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	10.40%	+5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	12.82%	+1.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	12.11%	+2.33%