PZLV vs. ELCV

Last updated Aug 5, 2026

PZLV (Pzena U.S. Large Cap Value ETF) and ELCV (Eventide High Dividend ETF) are both Large Cap Value Equities funds. Both are actively managed. Their 0.17 correlation means their historical movements had little consistent relationship. PZLV charges 0.60%/yr vs 0.49%/yr for ELCV.

Performance

PZLV vs. ELCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pzena U.S. Large Cap Value ETF (PZLV) and Eventide High Dividend ETF (ELCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PZLV

• 1D: 1.12%
• 1M: 7.80%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ELCV

• 1D: 1.54%
• 1M: -0.73%
• 6M: 13.48%
• YTD: 21.27%
• 1Y: 25.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.52%

*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)
ELCV Eventide High Dividend ETF	$1.32M	$1.34M	$1.57M
PZLV Pzena U.S. Large Cap Value ETF	$76.43K	$48.31K	$41.27K

PZLV vs. ELCV - Yearly Performance Comparison

	2026 (YTD)
PZLV Pzena U.S. Large Cap Value ETF	24.36%
ELCV Eventide High Dividend ETF	10.73%

Correlation

The correlation between PZLV and ELCV is 0.17, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026	0.17

Return for Risk

PZLV vs. ELCV — Risk / Return Rank

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

PZLV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ELCV

ELCV Risk / Return Rank: 80
ELCV Sharpe Ratio Rank: 77
ELCV Sortino Ratio Rank: 75
ELCV Omega Ratio Rank: 73
ELCV Calmar Ratio Rank: 88
ELCV Martin Ratio Rank: 88

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.

PZLV vs. ELCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pzena U.S. Large Cap Value ETF (PZLV) and Eventide High Dividend ETF (ELCV). 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.

	PZLV	ELCV	Difference
Sharpe ratio: Return per unit of total volatility	—	1.98	—
Sortino ratio: Return per unit of downside risk	—	2.72	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	3.86	—
Martin ratio: Return relative to average drawdown	—	14.36	—

Drawdowns

PZLV vs. ELCV - Drawdown Comparison

The maximum PZLV drawdown since its inception was -2.81%, smaller than the maximum ELCV drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for PZLV and ELCV.

Drawdown Indicators

	PZLV	ELCV	Difference
Max Drawdown Largest peak-to-trough decline	-2.81%	-18.38%	+15.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.54%	—
Current Drawdown Current decline from peak	0.00%	-3.21%	+3.21%
Average Drawdown Average peak-to-trough decline	-0.72%	-3.59%	+2.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.76%	—

Volatility

Volatility by Period

	PZLV	ELCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.95%	12.81%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	15.47%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	15.47%	-0.52%

PZLV vs. ELCV - Expense Ratio Comparison

PZLV has a 0.60% expense ratio, which is higher than ELCV's 0.49% expense ratio.

Dividends

PZLV vs. ELCV - Dividend Comparison

PZLV has not paid dividends to shareholders, while ELCV's dividend yield for the trailing twelve months is around 2.12%.

Position	TTM	2025	2024
ELCV Eventide High Dividend ETF	2.12%	2.34%	0.29%
PZLV Pzena U.S. Large Cap Value ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PZLV and ELCV in my portfolio?

PZLV and ELCV have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PZLV or ELCV?

On fees, ELCV is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PZLV or ELCV?

ELCV is cheaper with a 0.49% expense ratio, compared with 0.60% for PZLV.

Which ETF pays a higher dividend yield, PZLV or ELCV?

ELCV has the higher dividend yield at 2.12%, compared with 0.00% for PZLV.

What is the main difference between PZLV and ELCV?

They also come from different issuers: Pzena and Eventide. Their fees differ too: 0.60% for PZLV and 0.49% for ELCV.