MUSQ vs. DVXC

Last updated Jun 5, 2026

MUSQ (MUSQ Global Music Industry Index ETF) and DVXC (WEBs Communication Services XLC Defined Volatility ETF) are both Communications Equities funds - MUSQ tracks the MUSQ Global Music Industry Index while DVXC tracks the Syntax Defined Volatility XLC Index. Both are passively managed. A 0.64 correlation means they provide meaningful diversification when combined. MUSQ charges 0.76%/yr vs 0.89%/yr for DVXC.

Performance

MUSQ vs. DVXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MUSQ Global Music Industry Index ETF (MUSQ) and WEBs Communication Services XLC Defined Volatility ETF (DVXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MUSQ achieves a -8.93% return, which is significantly higher than DVXC's -11.93% return.

MUSQ

• 1D: -0.00%
• 1M: 0.63%
• YTD: -8.93%
• 6M: -6.57%
• 1Y: -5.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DVXC

• 1D: 1.78%
• 1M: -4.85%
• YTD: -11.93%
• 6M: -8.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MUSQ vs. DVXC - Yearly Performance Comparison

	2026 (YTD)	2025
MUSQ MUSQ Global Music Industry Index ETF	-8.93%	-3.18%
DVXC WEBs Communication Services XLC Defined Volatility ETF	-11.93%	14.81%

Correlation

The correlation between MUSQ and DVXC is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.64

Return for Risk

MUSQ vs. DVXC — Risk / Return Rank

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

MUSQ

MUSQ Risk / Return Rank: 6
MUSQ Sharpe Ratio Rank: 6
MUSQ Sortino Ratio Rank: 6
MUSQ Omega Ratio Rank: 6
MUSQ Calmar Ratio Rank: 7
MUSQ Martin Ratio Rank: 6

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.

MUSQ vs. DVXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) and WEBs Communication Services XLC Defined Volatility ETF (DVXC). 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.

	MUSQ	DVXC	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	—	—
Sortino ratio: Return per unit of downside risk	-0.37	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.25	—	—
Martin ratio: Return relative to average drawdown	-0.60	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MUSQ	DVXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	0.05	+0.05

Drawdowns

MUSQ vs. DVXC - Drawdown Comparison

The maximum MUSQ drawdown since its inception was -23.11%, which is greater than DVXC's maximum drawdown of -21.52%. Use the drawdown chart below to compare losses from any high point for MUSQ and DVXC.

Drawdown Indicators

	MUSQ	DVXC	Difference
Max Drawdown Largest peak-to-trough decline	-23.11%	-21.52%	-1.59%
Max Drawdown (1Y) Largest decline over 1 year	-23.11%	—	—
Current Drawdown Current decline from peak	-15.04%	-15.25%	+0.21%
Average Drawdown Average peak-to-trough decline	-6.59%	-6.94%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.47%	—	—

Volatility

Volatility by Period

	MUSQ	DVXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	26.08%	-9.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.85%	26.08%	-8.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.85%	26.08%	-8.23%

MUSQ vs. DVXC - Expense Ratio Comparison

MUSQ has a 0.76% expense ratio, which is lower than DVXC's 0.89% expense ratio.

Dividends

MUSQ vs. DVXC - Dividend Comparison

MUSQ's dividend yield for the trailing twelve months is around 0.69%, while DVXC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DVXC WEBs Communication Services XLC Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%
MUSQ MUSQ Global Music Industry Index ETF	0.69%	0.63%	1.08%	0.74%

Frequently Asked Questions

Can I hold both MUSQ and DVXC in my portfolio?

MUSQ and DVXC have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MUSQ or DVXC?

On fees, MUSQ is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MUSQ or DVXC?

MUSQ is cheaper with a 0.76% expense ratio, compared with 0.89% for DVXC.

Which ETF pays a higher dividend yield, MUSQ or DVXC?

MUSQ has the higher dividend yield at 0.69%, compared with 0.00% for DVXC.

What is the main difference between MUSQ and DVXC?

MUSQ tracks MUSQ Global Music Industry Index, while DVXC tracks Syntax Defined Volatility XLC Index. They also come from different issuers: Exchange Traded Concepts and WEBs. Their fees differ too: 0.76% for MUSQ and 0.89% for DVXC.