NDIV vs. DVXE

Last updated Aug 2, 2026

NDIV (Amplify Natural Resources Dividend Income ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - NDIV tracks the EQM Natural Resources Dividend Income Index while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Over the past year, NDIV returned 33.78% vs 61.29% for DVXE. Their 0.79 correlation means they have sometimes moved together and sometimes differently. NDIV charges 0.59%/yr vs 0.89%/yr for DVXE.

Performance

NDIV vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Natural Resources Dividend Income ETF (NDIV) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDIV achieves a 33.67% return, which is significantly lower than DVXE's 50.61% return.

NDIV

• 1D: 1.10%
• 1M: 8.05%
• 6M: 18.09%
• YTD: 33.67%
• 1Y: 33.78%
• 3Y*: 15.74%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.64%

DVXE

• 1D: 1.38%
• 1M: 15.67%
• 6M: 26.93%
• YTD: 50.61%
• 1Y: 61.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 55.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVXE WEBs Energy XLE Defined Volatility ETF	$14.59K	$12.40K	$16.43K
NDIV Amplify Natural Resources Dividend Income ETF	$359.17K	$364.93K	$506.10K

NDIV vs. DVXE - Yearly Performance Comparison

	2026 (YTD)	2025
NDIV Amplify Natural Resources Dividend Income ETF	33.67%	-4.18%
DVXE WEBs Energy XLE Defined Volatility ETF	50.61%	4.49%

Correlation

The correlation between NDIV and DVXE is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.79

The correlation between NDIV and DVXE has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

NDIV vs. DVXE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NDIV

NDIV Risk / Return Rank: 65
NDIV Sharpe Ratio Rank: 69
NDIV Sortino Ratio Rank: 63
NDIV Omega Ratio Rank: 62
NDIV Calmar Ratio Rank: 75
NDIV Martin Ratio Rank: 55

DVXE

DVXE Risk / Return Rank: 68
DVXE Sharpe Ratio Rank: 79
DVXE Sortino Ratio Rank: 70
DVXE Omega Ratio Rank: 68
DVXE Calmar Ratio Rank: 73
DVXE Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NDIV vs. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Natural Resources Dividend Income ETF (NDIV) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.

	NDIV	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.83	-0.27
Sortino ratio: Return per unit of downside risk	2.10	2.31	-0.20
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.63	2.59	+0.04
Martin ratio: Return relative to average drawdown	6.50	6.05	+0.45

NDIV vs. DVXE - Sharpe Ratio Comparison

The current NDIV Sharpe Ratio is 1.56, which is comparable to the DVXE Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of NDIV and DVXE, 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

NDIV vs. DVXE - Drawdown Comparison

The maximum NDIV drawdown since its inception was -19.73%, smaller than the maximum DVXE drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for NDIV and DVXE.

Drawdown Indicators

	NDIV	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-21.83%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-21.83%	+10.27%
Max Drawdown (3Y) Largest decline over 3 years	-19.73%	—	—
Current Drawdown Current decline from peak	-3.34%	-8.57%	+5.23%
Average Drawdown Average peak-to-trough decline	-4.31%	-7.25%	+2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	9.37%	-4.68%

Volatility

NDIV vs. DVXE - Volatility Comparison

The current volatility for Amplify Natural Resources Dividend Income ETF (NDIV) is 5.04%, while WEBs Energy XLE Defined Volatility ETF (DVXE) has a volatility of 8.29%. This indicates that NDIV experiences smaller price fluctuations and is considered to be less risky than DVXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDIV	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	8.29%	-3.25%
Volatility (6M) Calculated over the trailing 6-month period	13.65%	22.36%	-8.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	30.92%	-11.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	30.78%	-9.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.88%	30.78%	-9.90%

NDIV vs. DVXE - Expense Ratio Comparison

NDIV has a 0.59% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

NDIV vs. DVXE - Dividend Comparison

NDIV's dividend yield for the trailing twelve months is around 7.68%, while DVXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%
NDIV Amplify Natural Resources Dividend Income ETF	7.68%	5.64%	5.88%	7.37%	1.69%

Frequently Asked Questions

Can I hold both NDIV and DVXE in my portfolio?

NDIV and DVXE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDIV or DVXE?

DVXE has higher volatility (8.29%) compared to NDIV (5.04%). In terms of maximum drawdown, NDIV dropped -19.73% vs DVXE's -21.83%.

Which ETF is better, NDIV or DVXE?

On 1-year performance, DVXE leads with 61.29% vs 33.78% for NDIV. On fees, NDIV is cheaper at 0.59% per year. On volatility, NDIV has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDIV or DVXE?

Over the 1-year period, DVXE has performed better with a 61.29% return vs 33.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDIV or DVXE?

NDIV is cheaper with a 0.59% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, NDIV or DVXE?

NDIV has the higher dividend yield at 7.68%, compared with 0.00% for DVXE.

What is the main difference between NDIV and DVXE?

NDIV tracks EQM Natural Resources Dividend Income Index, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: Amplify and WEBs. Their fees differ too: 0.59% for NDIV and 0.89% for DVXE.

Which has better risk-adjusted returns?

DVXE currently has the higher Sharpe Ratio (1.83 vs 1.56), 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.