KVLE vs. VMAX

Last updated Jun 25, 2026

KVLE (KFA Value Liner Dynamic Core Equity Index ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. KVLE is passively managed, while VMAX is actively managed. Over the past year, KVLE returned 17.26% vs 27.96% for VMAX. Their correlation of 0.81 suggests significant overlap in exposure. KVLE charges 0.56%/yr vs 0.29%/yr for VMAX.

Performance

KVLE vs. VMAX - 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 Hartford US Value ETF (VMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KVLE achieves a 9.90% return, which is significantly lower than VMAX's 15.04% return.

KVLE

• 1D: 0.58%
• 1M: 0.76%
• YTD: 9.90%
• 6M: 8.40%
• 1Y: 17.26%
• 3Y*: 14.58%
• 5Y*: 10.02%
• 10Y*: —

VMAX

• 1D: -0.34%
• 1M: 2.70%
• YTD: 15.04%
• 6M: 13.37%
• 1Y: 27.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KVLE vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
KVLE KFA Value Liner Dynamic Core Equity Index ETF	9.90%	9.34%	18.25%	3.47%
VMAX Hartford US Value ETF	15.04%	15.65%	15.89%	5.71%

Correlation

The correlation between KVLE and VMAX is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.81

The correlation between KVLE and VMAX has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

KVLE vs. VMAX - Sectors Allocation Comparison

Sectors	KVLE	VMAX
Technology	31.4%	13.3%
Financial Services	12.2%	32.4%
Real Estate	11.8%	4.4%
Consumer Cyclical	9.4%	3.7%
Healthcare	9.3%	11.1%
Industrials	8.9%	5.5%
Consumer Defensive	6.6%	3.7%
Energy	4.4%	11.0%
Communication Services	4.1%	6.6%
Basic Materials	1.3%	2.8%
Utilities	0.6%	5.3%

Return for Risk

KVLE vs. VMAX — 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

VMAX

VMAX Risk / Return Rank: 84
VMAX Sharpe Ratio Rank: 81
VMAX Sortino Ratio Rank: 80
VMAX Omega Ratio Rank: 77
VMAX Calmar Ratio Rank: 93
VMAX Martin Ratio Rank: 92

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. VMAX - 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 Hartford US Value ETF (VMAX). 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	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	2.29	-0.74
Sortino ratio: Return per unit of downside risk	2.20	3.13	-0.94
Omega ratio: Gain probability vs. loss probability	1.28	1.40	-0.13
Calmar ratio: Return relative to maximum drawdown	1.81	5.70	-3.89
Martin ratio: Return relative to average drawdown	6.89	19.99	-13.10

KVLE vs. VMAX - Sharpe Ratio Comparison

The current KVLE Sharpe Ratio is 1.55, which is lower than the VMAX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of KVLE and VMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

KVLE vs. VMAX - Drawdown Comparison

The maximum KVLE drawdown since its inception was -18.38%, roughly equal to the maximum VMAX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for KVLE and VMAX.

Drawdown Indicators

	KVLE	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-19.05%	+0.67%
Max Drawdown (1Y) Largest decline over 1 year	-9.59%	-4.93%	-4.66%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	—	—
Current Drawdown Current decline from peak	-1.19%	-0.73%	-0.46%
Average Drawdown Average peak-to-trough decline	-3.19%	-2.52%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	1.40%	+1.11%

Volatility

KVLE vs. VMAX - Volatility Comparison

KFA Value Liner Dynamic Core Equity Index ETF (KVLE) has a higher volatility of 3.61% compared to Hartford US Value ETF (VMAX) at 3.17%. This indicates that KVLE's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KVLE	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	3.17%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	8.83%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	12.31%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	15.40%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	15.40%	-1.08%

KVLE vs. VMAX - Expense Ratio Comparison

KVLE has a 0.56% expense ratio, which is higher than VMAX's 0.29% expense ratio.

Dividends

KVLE vs. VMAX - Dividend Comparison

KVLE's dividend yield for the trailing twelve months is around 7.32%, more than VMAX's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
KVLE KFA Value Liner Dynamic Core Equity Index ETF	7.32%	7.90%	7.99%	2.53%	5.78%	9.51%	0.35%
VMAX Hartford US Value ETF	1.86%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KVLE and VMAX in my portfolio?

KVLE and VMAX have a correlation of 0.81, 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 VMAX?

KVLE has higher volatility (3.61%) compared to VMAX (3.17%). In terms of maximum drawdown, KVLE dropped -18.38% vs VMAX's -19.05%.

Which ETF is better, KVLE or VMAX?

On 1-year performance, VMAX leads with 27.96% vs 17.26% for KVLE. On fees, VMAX is cheaper at 0.29% per year. On volatility, VMAX has been the lower-risk option at 3.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KVLE or VMAX?

Over the 1-year period, VMAX has performed better with a 27.96% return vs 17.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KVLE or VMAX?

VMAX is cheaper with a 0.29% expense ratio, compared with 0.56% for KVLE.

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

KVLE has the higher dividend yield at 7.32%, compared with 1.86% for VMAX.

What is the main difference between KVLE and VMAX?

They also come from different issuers: CICC and Hartford. Their fees differ too: 0.56% for KVLE and 0.29% for VMAX.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.29 vs 1.55), 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.