PZLV vs. VLUE

Last updated Jun 5, 2026

PZLV (Pzena U.S. Large Cap Value ETF) and VLUE (iShares Edge MSCI USA Value Factor ETF) are both Large Cap Value Equities funds. PZLV is actively managed, while VLUE is passively managed. At a 0.35 correlation, their price movements are largely independent. PZLV charges 0.60%/yr vs 0.15%/yr for VLUE.

Performance

PZLV vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pzena U.S. Large Cap Value ETF (PZLV) and iShares Edge MSCI USA Value Factor ETF (VLUE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PZLV

• 1D: 1.34%
• 1M: 5.28%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VLUE

• 1D: -1.29%
• 1M: 15.14%
• YTD: 47.08%
• 6M: 50.18%
• 1Y: 89.43%
• 3Y*: 33.96%
• 5Y*: 16.06%
• 10Y*: 15.20%

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

PZLV vs. VLUE - Yearly Performance Comparison

	2026 (YTD)
PZLV Pzena U.S. Large Cap Value ETF	12.17%
VLUE iShares Edge MSCI USA Value Factor ETF	38.33%

Correlation

The correlation between PZLV and VLUE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 2, 2026	0.35

Return for Risk

PZLV vs. VLUE — Risk / Return Rank

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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 98
VLUE Omega Ratio Rank: 97
VLUE Calmar Ratio Rank: 96
VLUE Martin Ratio Rank: 97

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.

PZLV vs. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pzena U.S. Large Cap Value ETF (PZLV) and iShares Edge MSCI USA Value Factor ETF (VLUE). 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.

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

Sharpe Ratios by Period

	PZLV	VLUE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.19	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.63	0.76	+5.88

Drawdowns

PZLV vs. VLUE - Drawdown Comparison

The maximum PZLV drawdown since its inception was -2.30%, smaller than the maximum VLUE drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for PZLV and VLUE.

Drawdown Indicators

	PZLV	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-2.30%	-39.47%	+37.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.47%	—
Current Drawdown Current decline from peak	0.00%	-1.70%	+1.70%
Average Drawdown Average peak-to-trough decline	-0.64%	-6.01%	+5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.01%	—

Volatility

Volatility by Period

	PZLV	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.06%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.20%	17.34%	-3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	17.79%	-3.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.20%	19.82%	-5.62%

PZLV vs. VLUE - Expense Ratio Comparison

PZLV has a 0.60% expense ratio, which is higher than VLUE's 0.15% expense ratio.

Dividends

PZLV vs. VLUE - Dividend Comparison

PZLV has not paid dividends to shareholders, while VLUE's dividend yield for the trailing twelve months is around 1.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PZLV Pzena U.S. Large Cap Value ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VLUE iShares Edge MSCI USA Value Factor ETF	1.42%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both PZLV and VLUE in my portfolio?

PZLV and VLUE have a correlation of 0.35, 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 VLUE?

On fees, VLUE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PZLV or VLUE?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.60% for PZLV.

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

VLUE has the higher dividend yield at 1.42%, compared with 0.00% for PZLV.

What is the main difference between PZLV and VLUE?

They also come from different issuers: Pzena and iShares. Their fees differ too: 0.60% for PZLV and 0.15% for VLUE.