PVEX vs. DIVZ

Last updated Jul 17, 2026

PVEX (TrueShares ConVequity ETF) and DIVZ (Opal Dividend Income ETF) are both exchange-traded funds - PVEX is a Large Cap Blend Equities fund managed by TrueShares, while DIVZ is a Large Cap Value Equities fund actively managed by TrueShares. Over the past year, PVEX returned 19.89% vs 12.27% for DIVZ. At a 0.21 correlation, their price movements are largely independent. PVEX charges 0.82%/yr vs 0.65%/yr for DIVZ.

Performance

PVEX vs. DIVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares ConVequity ETF (PVEX) and Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PVEX having a 7.85% return and DIVZ slightly lower at 7.55%.

PVEX

• 1D: -0.77%
• 1M: -0.68%
• 6M: 7.14%
• YTD: 7.85%
• 1Y: 19.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVZ

• 1D: 1.67%
• 1M: 1.88%
• 6M: 5.27%
• YTD: 7.55%
• 1Y: 12.27%
• 3Y*: 15.38%
• 5Y*: 10.05%
• 10Y*: —

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

PVEX vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025
PVEX TrueShares ConVequity ETF	7.85%	13.68%
DIVZ Opal Dividend Income ETF	7.55%	6.01%

Correlation

The correlation between PVEX and DIVZ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jun 30, 2025	0.21

Return for Risk

PVEX vs. DIVZ — Risk / Return Rank

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

PVEX

PVEX Risk / Return Rank: 53
PVEX Sharpe Ratio Rank: 48
PVEX Sortino Ratio Rank: 46
PVEX Omega Ratio Rank: 47
PVEX Calmar Ratio Rank: 66
PVEX Martin Ratio Rank: 56

DIVZ

DIVZ Risk / Return Rank: 44
DIVZ Sharpe Ratio Rank: 43
DIVZ Sortino Ratio Rank: 45
DIVZ Omega Ratio Rank: 40
DIVZ Calmar Ratio Rank: 52
DIVZ Martin Ratio Rank: 39

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.

PVEX vs. DIVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares ConVequity ETF (PVEX) and Opal Dividend Income ETF (DIVZ). 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.

	PVEX	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	1.36	1.26	+0.10
Sortino ratio: Return per unit of downside risk	1.92	1.88	+0.05
Omega ratio: Gain probability vs. loss probability	1.25	1.22	+0.03
Calmar ratio: Return relative to maximum drawdown	2.62	2.11	+0.51
Martin ratio: Return relative to average drawdown	7.75	4.90	+2.85

PVEX vs. DIVZ - Sharpe Ratio Comparison

The current PVEX Sharpe Ratio is 1.36, which is comparable to the DIVZ Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of PVEX and DIVZ, 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

PVEX vs. DIVZ - Drawdown Comparison

The maximum PVEX drawdown since its inception was -7.63%, smaller than the maximum DIVZ drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for PVEX and DIVZ.

Drawdown Indicators

	PVEX	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-7.63%	-15.42%	+7.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-5.83%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Current Drawdown Current decline from peak	-2.48%	-0.38%	-2.10%
Average Drawdown Average peak-to-trough decline	-2.00%	-3.47%	+1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.51%	+0.06%

Volatility

PVEX vs. DIVZ - Volatility Comparison

TrueShares ConVequity ETF (PVEX) and Opal Dividend Income ETF (DIVZ) have volatilities of 3.94% and 3.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVEX	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.99%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	8.95%	7.71%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.74%	9.82%	+4.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	12.67%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.22%	12.57%	+2.65%

PVEX vs. DIVZ - Expense Ratio Comparison

PVEX has a 0.82% expense ratio, which is higher than DIVZ's 0.65% expense ratio.

Dividends

PVEX vs. DIVZ - Dividend Comparison

PVEX's dividend yield for the trailing twelve months is around 0.18%, less than DIVZ's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.51%	2.60%	2.63%	3.66%	3.23%	3.83%
PVEX TrueShares ConVequity ETF	0.18%	0.19%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PVEX and DIVZ in my portfolio?

PVEX and DIVZ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVEX or DIVZ?

DIVZ has higher volatility (3.99%) compared to PVEX (3.94%). In terms of maximum drawdown, PVEX dropped -7.63% vs DIVZ's -15.42%.

Which ETF is better, PVEX or DIVZ?

On 1-year performance, PVEX leads with 19.89% vs 12.27% for DIVZ. On fees, DIVZ is cheaper at 0.65% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PVEX or DIVZ?

Over the 1-year period, PVEX has performed better with a 19.89% return vs 12.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PVEX or DIVZ?

DIVZ is cheaper with a 0.65% expense ratio, compared with 0.82% for PVEX.

Which ETF pays a higher dividend yield, PVEX or DIVZ?

DIVZ has the higher dividend yield at 2.51%, compared with 0.18% for PVEX.

What is the main difference between PVEX and DIVZ?

PVEX is categorized as Large Cap Blend Equities, while DIVZ is Large Cap Value Equities. Their fees differ too: 0.82% for PVEX and 0.65% for DIVZ.

Which has better risk-adjusted returns?

PVEX currently has the higher Sharpe Ratio (1.36 vs 1.26), 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.