KVLE vs. IVOL
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 10.02%/yr vs -5.63%/yr for IVOL. At a 0.02 correlation, their price movements are largely independent. KVLE charges 0.56%/yr vs 0.99%/yr for IVOL.
Performance
KVLE vs. IVOL - Performance Comparison
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Returns By Period
In the year-to-date period, KVLE achieves a 9.27% return, which is significantly higher than IVOL's -8.37% return.
KVLE
- 1D
- -0.36%
- 1M
- 0.18%
- YTD
- 9.27%
- 6M
- 8.32%
- 1Y
- 17.71%
- 3Y*
- 14.36%
- 5Y*
- 10.02%
- 10Y*
- —
IVOL
- 1D
- 0.35%
- 1M
- -3.04%
- YTD
- -8.37%
- 6M
- -7.51%
- 1Y
- -7.39%
- 3Y*
- -2.64%
- 5Y*
- -5.63%
- 10Y*
- —
KVLE vs. IVOL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KVLE KFA Value Liner Dynamic Core Equity Index ETF | 9.27% | 9.34% | 18.25% | 10.49% | -5.96% | 28.01% | 1.71% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -8.37% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 2.92% |
Correlation
The correlation between KVLE and IVOL is -0.01, 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 | -0.01 |
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 24, 2020 | 0.02 |
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Return for Risk
KVLE vs. IVOL — Risk / Return Rank
KVLE
IVOL
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.
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.
| KVLE | IVOL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +3.71 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.84 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | -0.61 | +2.47 |
| Martin ratioReturn relative to average drawdown | 7.07 | -1.48 | +8.55 |
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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.
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Drawdown Indicators
| KVLE | IVOL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.38% | -31.16% | +12.78% |
Max Drawdown (1Y)Largest decline over 1 year | -9.59% | -12.08% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -16.39% | -14.48% | -1.91% |
Max Drawdown (5Y)Largest decline over 5 years | -18.38% | -30.28% | +11.90% |
Current DrawdownCurrent decline from peak | -1.76% | -27.94% | +26.18% |
Average DrawdownAverage peak-to-trough decline | -3.19% | -13.39% | +10.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 4.99% | -2.48% |
Volatility
KVLE vs. IVOL - Volatility Comparison
KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 3.68% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 2.57%. 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.
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Volatility by Period
| KVLE | IVOL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 2.57% | +1.11% |
Volatility (6M)Calculated over the trailing 6-month period | 8.73% | 4.97% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 7.05% | +4.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 12.85% | +1.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.33% | 11.98% | +2.35% |
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 7.37%, more than IVOL's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.98% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% |
KVLE KFA Value Liner Dynamic Core Equity Index ETF | 7.37% | 7.90% | 7.99% | 2.53% | 5.78% | 9.51% | 0.35% | 0.00% |
Frequently Asked Questions
KVLE and IVOL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KVLE has higher volatility (3.68%) compared to IVOL (2.57%). In terms of maximum drawdown, KVLE dropped -18.38% vs IVOL's -31.16%.
On 5-year performance, KVLE leads with 10.02% vs -5.63% for IVOL. On fees, KVLE is cheaper at 0.56% per year. On volatility, IVOL has been the lower-risk option at 2.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KVLE has performed better with a 10.02% return vs -5.63%. 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 0.99% for IVOL.
KVLE has the higher dividend yield at 7.37%, compared with 3.98% for 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.
KVLE currently has the higher Sharpe Ratio (1.58 vs -1.05), 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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