MVFD vs. GAA

Last updated Jun 25, 2026

MVFD (Monarch Volume Factor Dividend Tree ETF) and GAA (Cambria Global Asset Allocation ETF) are both Diversified Portfolio funds. MVFD is passively managed, while GAA is actively managed. Over the past year, MVFD returned 17.53% vs 17.81% for GAA. At a 0.50 correlation, their price movements are largely independent. MVFD charges 1.19%/yr vs 0.41%/yr for GAA.

Performance

MVFD vs. GAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Volume Factor Dividend Tree ETF (MVFD) and Cambria Global Asset Allocation ETF (GAA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVFD achieves a 6.33% return, which is significantly lower than GAA's 7.37% return.

MVFD

• 1D: -0.47%
• 1M: -2.88%
• YTD: 6.33%
• 6M: 4.00%
• 1Y: 17.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GAA

• 1D: -0.20%
• 1M: -1.23%
• YTD: 7.37%
• 6M: 6.45%
• 1Y: 17.81%
• 3Y*: 13.42%
• 5Y*: 6.17%
• 10Y*: 7.61%

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

MVFD vs. GAA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVFD Monarch Volume Factor Dividend Tree ETF	6.33%	10.09%	5.47%
GAA Cambria Global Asset Allocation ETF	7.37%	18.76%	4.30%

Correlation

The correlation between MVFD and GAA is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.50

Return for Risk

MVFD vs. GAA — Risk / Return Rank

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

MVFD

MVFD Risk / Return Rank: 38
MVFD Sharpe Ratio Rank: 36
MVFD Sortino Ratio Rank: 36
MVFD Omega Ratio Rank: 34
MVFD Calmar Ratio Rank: 44
MVFD Martin Ratio Rank: 40

GAA

GAA Risk / Return Rank: 67
GAA Sharpe Ratio Rank: 65
GAA Sortino Ratio Rank: 65
GAA Omega Ratio Rank: 66
GAA Calmar Ratio Rank: 69
GAA Martin Ratio Rank: 70

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.

MVFD vs. GAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Volume Factor Dividend Tree ETF (MVFD) and Cambria Global Asset Allocation ETF (GAA). 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.

	MVFD	GAA	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.90	-0.74
Sortino ratio: Return per unit of downside risk	1.69	2.65	-0.96
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.94	3.09	-1.15
Martin ratio: Return relative to average drawdown	5.61	11.53	-5.92

MVFD vs. GAA - Sharpe Ratio Comparison

The current MVFD Sharpe Ratio is 1.15, which is lower than the GAA Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of MVFD and GAA, 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

MVFD vs. GAA - Drawdown Comparison

The maximum MVFD drawdown since its inception was -19.07%, smaller than the maximum GAA drawdown of -26.57%. Use the drawdown chart below to compare losses from any high point for MVFD and GAA.

Drawdown Indicators

	MVFD	GAA	Difference
Max Drawdown Largest peak-to-trough decline	-19.07%	-26.57%	+7.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-5.78%	-3.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.57%	—
Current Drawdown Current decline from peak	-4.72%	-2.50%	-2.22%
Average Drawdown Average peak-to-trough decline	-3.92%	-3.84%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	1.55%	+1.58%

Volatility

MVFD vs. GAA - Volatility Comparison

Monarch Volume Factor Dividend Tree ETF (MVFD) has a higher volatility of 4.14% compared to Cambria Global Asset Allocation ETF (GAA) at 3.64%. This indicates that MVFD's price experiences larger fluctuations and is considered to be riskier than GAA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVFD	GAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	3.64%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	8.01%	+2.38%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	9.44%	+5.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	11.35%	+5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	11.11%	+5.88%

MVFD vs. GAA - Expense Ratio Comparison

MVFD has a 1.19% expense ratio, which is higher than GAA's 0.41% expense ratio.

Dividends

MVFD vs. GAA - Dividend Comparison

MVFD's dividend yield for the trailing twelve months is around 1.48%, less than GAA's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GAA Cambria Global Asset Allocation ETF	3.54%	4.24%	3.88%	3.73%	6.05%	4.21%	2.73%	3.32%	3.01%	2.36%	2.82%	2.49%
MVFD Monarch Volume Factor Dividend Tree ETF	1.48%	1.34%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVFD and GAA in my portfolio?

MVFD and GAA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVFD or GAA?

MVFD has higher volatility (4.14%) compared to GAA (3.64%). In terms of maximum drawdown, MVFD dropped -19.07% vs GAA's -26.57%.

Which ETF is better, MVFD or GAA?

On 1-year performance, GAA leads with 17.81% vs 17.53% for MVFD. On fees, GAA is cheaper at 0.41% per year. On volatility, GAA has been the lower-risk option at 3.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVFD or GAA?

Over the 1-year period, GAA has performed better with a 17.81% return vs 17.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVFD or GAA?

GAA is cheaper with a 0.41% expense ratio, compared with 1.19% for MVFD.

Which ETF pays a higher dividend yield, MVFD or GAA?

GAA has the higher dividend yield at 3.54%, compared with 1.48% for MVFD.

What is the main difference between MVFD and GAA?

They also come from different issuers: Monarch and Cambria. Their fees differ too: 1.19% for MVFD and 0.41% for GAA.

Which has better risk-adjusted returns?

GAA currently has the higher Sharpe Ratio (1.90 vs 1.15), 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.