TFFI vs. TCV

Last updated Jul 10, 2026

TFFI (Chesapeake Trend-Following Fixed Income ETF) and TCV (Towle Value ETF) are both exchange-traded funds - TFFI is a Actively Managed fund actively managed by Chesapeake, while TCV is a Small Cap Value Equities fund actively managed by Towle. Both are actively managed. At a correlation of -0.14, they often move in opposite directions. TFFI charges 1.01%/yr vs 0.85%/yr for TCV.

Performance

TFFI vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Chesapeake Trend-Following Fixed Income ETF (TFFI) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TFFI

• 1D: -0.20%
• 1M: -0.27%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCV

• 1D: 0.94%
• 1M: 2.06%
• 6M: 16.12%
• YTD: 24.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TFFI vs. TCV - Yearly Performance Comparison

	2026 (YTD)
TFFI Chesapeake Trend-Following Fixed Income ETF	0.03%
TCV Towle Value ETF	12.01%

Correlation

The correlation between TFFI and TCV is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	-0.14

Return for Risk

TFFI vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Chesapeake Trend-Following Fixed Income ETF (TFFI) 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.

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

Drawdowns

TFFI vs. TCV - Drawdown Comparison

The maximum TFFI drawdown since its inception was -4.23%, smaller than the maximum TCV drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for TFFI and TCV.

Drawdown Indicators

	TFFI	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-12.23%	+8.00%
Current Drawdown Current decline from peak	-2.08%	-0.69%	-1.39%
Average Drawdown Average peak-to-trough decline	-1.65%	-3.35%	+1.70%

Volatility

Volatility by Period

	TFFI	TCV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	8.06%	21.26%	-13.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.06%	21.26%	-13.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.06%	21.26%	-13.20%

TFFI vs. TCV - Expense Ratio Comparison

TFFI has a 1.01% expense ratio, which is higher than TCV's 0.85% expense ratio.

Dividends

TFFI vs. TCV - Dividend Comparison

TFFI has not paid dividends to shareholders, while TCV's dividend yield for the trailing twelve months is around 0.58%.

Position	TTM	2025
TCV Towle Value ETF	0.58%	0.31%
TFFI Chesapeake Trend-Following Fixed Income ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TFFI and TCV in my portfolio?

TFFI and TCV have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFFI or TCV?

On fees, TCV is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFFI or TCV?

TCV is cheaper with a 0.85% expense ratio, compared with 1.01% for TFFI.

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

TCV has the higher dividend yield at 0.58%, compared with 0.00% for TFFI.

What is the main difference between TFFI and TCV?

TFFI is categorized as Actively Managed, while TCV is Small Cap Value Equities. They also come from different issuers: Chesapeake and Towle. Their fees differ too: 1.01% for TFFI and 0.85% for TCV.