SQLV vs. TCV

Last updated Jul 17, 2026

SQLV (Royce Quant Small-Cap Quality Value ETF) and TCV (Towle Value ETF) are both Small Cap Value Equities funds. Both are actively managed. Over the past year, SQLV returned 34.38% vs 32.54% for TCV. A 0.73 correlation means they provide meaningful diversification when combined. SQLV charges 0.60%/yr vs 0.85%/yr for TCV.

Performance

SQLV vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Quant Small-Cap Quality Value ETF (SQLV) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SQLV achieves a 24.77% return, which is significantly lower than TCV's 28.70% return.

SQLV

• 1D: 1.46%
• 1M: 7.20%
• 6M: 18.46%
• YTD: 24.77%
• 1Y: 34.38%
• 3Y*: 13.70%
• 5Y*: 8.92%
• 10Y*: —

TCV

• 1D: 0.01%
• 1M: 4.66%
• 6M: 13.75%
• YTD: 28.70%
• 1Y: 32.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SQLV vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
SQLV Royce Quant Small-Cap Quality Value ETF	24.77%	7.70%
TCV Towle Value ETF	28.70%	2.99%

Correlation

The correlation between SQLV and TCV is 0.73, 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 17, 2025	0.73

Return for Risk

SQLV vs. TCV — Risk / Return Rank

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

SQLV

SQLV Risk / Return Rank: 80
SQLV Sharpe Ratio Rank: 79
SQLV Sortino Ratio Rank: 81
SQLV Omega Ratio Rank: 72
SQLV Calmar Ratio Rank: 87
SQLV Martin Ratio Rank: 79

TCV

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.

SQLV vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Quant Small-Cap Quality Value ETF (SQLV) and Towle Value ETF (TCV). 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.

	SQLV	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.98	—	—
Sortino ratio: Return per unit of downside risk	2.90	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	3.91	—	—
Martin ratio: Return relative to average drawdown	11.86	—	—

Drawdowns

SQLV vs. TCV - Drawdown Comparison

The maximum SQLV drawdown since its inception was -48.34%, which is greater than TCV's maximum drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for SQLV and TCV.

Drawdown Indicators

	SQLV	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-48.34%	-12.23%	-36.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.84%	-12.23%	+3.39%
Max Drawdown (3Y) Largest decline over 3 years	-26.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.86%	—	—
Current Drawdown Current decline from peak	0.00%	-0.09%	+0.09%
Average Drawdown Average peak-to-trough decline	-8.84%	-3.29%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	—	—

Volatility

Volatility by Period

	SQLV	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.42%	21.12%	-3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.94%	21.12%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	21.12%	+2.15%

SQLV vs. TCV - Expense Ratio Comparison

SQLV has a 0.60% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

SQLV vs. TCV - Dividend Comparison

SQLV's dividend yield for the trailing twelve months is around 0.94%, more than TCV's 0.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SQLV Royce Quant Small-Cap Quality Value ETF	0.94%	1.15%	1.11%	1.09%	1.24%	1.12%	1.22%	1.20%	1.08%	0.40%
TCV Towle Value ETF	0.56%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SQLV and TCV in my portfolio?

SQLV and TCV have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SQLV or TCV?

On 1-year performance, SQLV leads with 34.38% vs 32.54% for TCV. On fees, SQLV is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SQLV or TCV?

Over the 1-year period, SQLV has performed better with a 34.38% return vs 32.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SQLV or TCV?

SQLV is cheaper with a 0.60% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, SQLV or TCV?

SQLV has the higher dividend yield at 0.94%, compared with 0.56% for TCV.

What is the main difference between SQLV and TCV?

They also come from different issuers: Franklin Templeton and Towle. Their fees differ too: 0.60% for SQLV and 0.85% for TCV.