TIIV vs. TCV

Last updated Jul 30, 2026

TIIV (AAM Todd International Intrinsic Value ETF) and TCV (Towle Value ETF) are both exchange-traded funds - TIIV is a Actively Managed fund actively managed by AAM, while TCV is a Small Cap Value Equities fund actively managed by Towle. Both are actively managed. Over the past year, TIIV returned 25.15% vs 33.14% for TCV. Their 0.55 correlation means they have sometimes moved together and sometimes differently. TIIV charges 0.54%/yr vs 0.85%/yr for TCV.

Performance

TIIV vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Todd International Intrinsic Value ETF (TIIV) 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, TIIV achieves a 11.86% return, which is significantly lower than TCV's 27.04% return.

TIIV

• 1D: -0.44%
• 1M: 2.59%
• 6M: 5.27%
• YTD: 11.86%
• 1Y: 25.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.71%

TCV

• 1D: -1.38%
• 1M: 1.82%
• 6M: 15.50%
• YTD: 27.04%
• 1Y: 33.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 29.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
TCV Towle Value ETF	$910.76K	$643.64K	$380.38K
TIIV AAM Todd International Intrinsic Value ETF	$18.60K	$14.86K	$76.21K

TIIV vs. TCV - Yearly Performance Comparison

	2026 (YTD)	2025
TIIV AAM Todd International Intrinsic Value ETF	11.86%	10.83%
TCV Towle Value ETF	27.04%	2.67%

Correlation

The correlation between TIIV and TCV is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.55

The correlation between TIIV and TCV has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

Return for Risk

TIIV vs. TCV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TIIV

TIIV Risk / Return Rank: 79
TIIV Sharpe Ratio Rank: 80
TIIV Sortino Ratio Rank: 82
TIIV Omega Ratio Rank: 80
TIIV Calmar Ratio Rank: 77
TIIV Martin Ratio Rank: 76

TCV

TCV Risk / Return Rank: 74
TCV Sharpe Ratio Rank: 74
TCV Sortino Ratio Rank: 73
TCV Omega Ratio Rank: 68
TCV Calmar Ratio Rank: 79
TCV Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TIIV vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Todd International Intrinsic Value ETF (TIIV) 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.

	TIIV	TCV	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.61	+0.15
Sortino ratio: Return per unit of downside risk	2.58	2.29	+0.29
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio: Return relative to maximum drawdown	2.61	2.74	-0.13
Martin ratio: Return relative to average drawdown	9.09	8.79	+0.30

TIIV vs. TCV - Sharpe Ratio Comparison

The current TIIV Sharpe Ratio is 1.76, which is comparable to the TCV Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of TIIV and TCV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TIIV vs. TCV - Drawdown Comparison

The maximum TIIV drawdown since its inception was -9.68%, smaller than the maximum TCV drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for TIIV and TCV.

Drawdown Indicators

	TIIV	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-9.68%	-12.23%	+2.55%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-12.13%	+2.45%
Current Drawdown Current decline from peak	-0.86%	-2.57%	+1.71%
Average Drawdown Average peak-to-trough decline	-1.79%	-3.23%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	3.90%	-1.12%

Volatility

TIIV vs. TCV - Volatility Comparison

The current volatility for AAM Todd International Intrinsic Value ETF (TIIV) is 3.16%, while Towle Value ETF (TCV) has a volatility of 4.69%. This indicates that TIIV experiences smaller price fluctuations and is considered to be less risky than TCV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIIV	TCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.16%	4.69%	-1.53%
Volatility (6M) Calculated over the trailing 6-month period	11.85%	13.66%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	14.32%	20.70%	-6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	21.07%	-6.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.38%	21.07%	-6.69%

TIIV vs. TCV - Expense Ratio Comparison

TIIV has a 0.54% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

TIIV vs. TCV - Dividend Comparison

TIIV's dividend yield for the trailing twelve months is around 3.18%, more than TCV's 0.57% yield.

Position	TTM	2025
TCV Towle Value ETF	0.57%	0.31%
TIIV AAM Todd International Intrinsic Value ETF	3.18%	2.33%

Frequently Asked Questions

Can I hold both TIIV and TCV in my portfolio?

TIIV and TCV have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIIV or TCV?

TCV has higher volatility (4.69%) compared to TIIV (3.16%). In terms of maximum drawdown, TIIV dropped -9.68% vs TCV's -12.23%.

Which ETF is better, TIIV or TCV?

On 1-year performance, TCV leads with 33.14% vs 25.15% for TIIV. On fees, TIIV is cheaper at 0.54% per year. On volatility, TIIV has been the lower-risk option at 3.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TIIV or TCV?

Over the 1-year period, TCV has performed better with a 33.14% return vs 25.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TIIV or TCV?

TIIV is cheaper with a 0.54% expense ratio, compared with 0.85% for TCV.

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

TIIV has the higher dividend yield at 3.18%, compared with 0.57% for TCV.

What is the main difference between TIIV and TCV?

TIIV is categorized as Actively Managed, while TCV is Small Cap Value Equities. They also come from different issuers: AAM and Towle. Their fees differ too: 0.54% for TIIV and 0.85% for TCV.

Which has better risk-adjusted returns?

TIIV currently has the higher Sharpe Ratio (1.76 vs 1.61), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.