PZLV vs. VMAX
PZLV (Pzena U.S. Large Cap Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. PZLV charges 0.60%/yr vs 0.29%/yr for VMAX.
Performance
PZLV vs. VMAX - Performance Comparison
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Returns By Period
PZLV
- 1D
- -1.97%
- 1M
- 5.26%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VMAX
- 1D
- -0.98%
- 1M
- 4.39%
- YTD
- 14.75%
- 6M
- 15.83%
- 1Y
- 30.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PZLV vs. VMAX - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PZLV Pzena U.S. Large Cap Value ETF | 12.05% |
VMAX Hartford US Value ETF | 10.56% |
Correlation
The correlation between PZLV and VMAX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026 | 0.84 |
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Return for Risk
PZLV vs. VMAX — Risk / Return Rank
PZLV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VMAX
PZLV vs. VMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena U.S. Large Cap Value ETF (PZLV) and Hartford US Value ETF (VMAX). 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 | VMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.43 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 6.17 | — |
| Martin ratioReturn relative to average drawdown | — | 21.68 | — |
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Drawdowns
PZLV vs. VMAX - Drawdown Comparison
The maximum PZLV drawdown since its inception was -2.46%, smaller than the maximum VMAX drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for PZLV and VMAX.
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Drawdown Indicators
| PZLV | VMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.46% | -19.05% | +16.59% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.93% | — |
Current DrawdownCurrent decline from peak | -2.46% | -0.98% | -1.48% |
Average DrawdownAverage peak-to-trough decline | -0.62% | -2.53% | +1.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.40% | — |
Volatility
PZLV vs. VMAX - Volatility Comparison
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Volatility by Period
| PZLV | VMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.22% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.87% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 14.56% | 12.33% | +2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.56% | 15.44% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.56% | 15.44% | -0.88% |
PZLV vs. VMAX - Expense Ratio Comparison
PZLV has a 0.60% expense ratio, which is higher than VMAX's 0.29% expense ratio.
Dividends
PZLV vs. VMAX - Dividend Comparison
PZLV has not paid dividends to shareholders, while VMAX's dividend yield for the trailing twelve months is around 1.86%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
PZLV Pzena U.S. Large Cap Value ETF | 0.00% | 0.00% | 0.00% |
VMAX Hartford US Value ETF | 1.86% | 2.14% | 1.95% |
Frequently Asked Questions
PZLV and VMAX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VMAX is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VMAX is cheaper with a 0.29% expense ratio, compared with 0.60% for PZLV.
VMAX has the higher dividend yield at 1.86%, compared with 0.00% for PZLV.
They also come from different issuers: Pzena and Hartford. Their fees differ too: 0.60% for PZLV and 0.29% for VMAX.
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