SLX vs. DVXB

Last updated Jun 24, 2026

SLX (VanEck Vectors Steel ETF) and DVXB (WEBs Materials XLB Defined Volatility ETF) are both Materials funds - SLX tracks the NYSE Arca Steel Index while DVXB tracks the Syntax Defined Volatility XLB Index. Both are passively managed. A 0.71 correlation means they provide meaningful diversification when combined. SLX charges 0.56%/yr vs 0.89%/yr for DVXB.

Performance

SLX vs. DVXB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Steel ETF (SLX) and WEBs Materials XLB Defined Volatility ETF (DVXB). 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 SLX having a 19.94% return and DVXB slightly lower at 19.31%.

SLX

• 1D: -2.86%
• 1M: -4.58%
• YTD: 19.94%
• 6M: 19.56%
• 1Y: 60.79%
• 3Y*: 21.27%
• 5Y*: 14.70%
• 10Y*: 18.83%

DVXB

• 1D: -0.12%
• 1M: 3.26%
• YTD: 19.31%
• 6M: 17.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLX vs. DVXB - Yearly Performance Comparison

	2026 (YTD)	2025
SLX VanEck Vectors Steel ETF	19.94%	17.66%
DVXB WEBs Materials XLB Defined Volatility ETF	19.31%	-6.27%

Correlation

The correlation between SLX and DVXB is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.71

Return for Risk

SLX vs. DVXB — Risk / Return Rank

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

SLX

SLX Risk / Return Rank: 75
SLX Sharpe Ratio Rank: 81
SLX Sortino Ratio Rank: 75
SLX Omega Ratio Rank: 71
SLX Calmar Ratio Rank: 76
SLX Martin Ratio Rank: 71

DVXB

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

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.

SLX vs. DVXB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Steel ETF (SLX) and WEBs Materials XLB Defined Volatility ETF (DVXB). 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.

	SLX	DVXB	Difference
Sharpe ratio: Return per unit of total volatility	2.43	—	—
Sortino ratio: Return per unit of downside risk	3.15	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	3.74	—	—
Martin ratio: Return relative to average drawdown	12.59	—	—

Drawdowns

SLX vs. DVXB - Drawdown Comparison

The maximum SLX drawdown since its inception was -82.14%, which is greater than DVXB's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for SLX and DVXB.

Drawdown Indicators

	SLX	DVXB	Difference
Max Drawdown Largest peak-to-trough decline	-82.14%	-19.77%	-62.37%
Max Drawdown (1Y) Largest decline over 1 year	-16.35%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-27.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-61.64%	—	—
Current Drawdown Current decline from peak	-10.38%	-9.60%	-0.78%
Average Drawdown Average peak-to-trough decline	-38.63%	-7.08%	-31.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	—	—

Volatility

Volatility by Period

	SLX	DVXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.19%	30.79%	-5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.84%	30.79%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.90%	30.79%	+0.11%

SLX vs. DVXB - Expense Ratio Comparison

SLX has a 0.56% expense ratio, which is lower than DVXB's 0.89% expense ratio.

Dividends

SLX vs. DVXB - Dividend Comparison

SLX's dividend yield for the trailing twelve months is around 1.29%, while DVXB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXB WEBs Materials XLB Defined Volatility 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%
SLX VanEck Vectors Steel ETF	1.29%	1.55%	3.56%	2.80%	4.97%	7.07%	1.87%	3.44%	6.26%	2.50%	1.06%	5.35%

Frequently Asked Questions

Can I hold both SLX and DVXB in my portfolio?

SLX and DVXB have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLX or DVXB?

On fees, SLX is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLX or DVXB?

SLX is cheaper with a 0.56% expense ratio, compared with 0.89% for DVXB.

Which ETF pays a higher dividend yield, SLX or DVXB?

SLX has the higher dividend yield at 1.29%, compared with 0.00% for DVXB.

What is the main difference between SLX and DVXB?

SLX tracks NYSE Arca Steel Index, while DVXB tracks Syntax Defined Volatility XLB Index. They also come from different issuers: VanEck and WEBs. Their fees differ too: 0.56% for SLX and 0.89% for DVXB.