ULVM vs. DVLU
ULVM (VictoryShares US Value Momentum ETF) and DVLU (First Trust Dorsey Wright Momentum & Value ETF) are both Momentum funds - ULVM tracks the Nasdaq Victory US Value Momentum Index while DVLU tracks the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, ULVM returned 12.69%/yr vs 13.27%/yr for DVLU. Their correlation of 0.83 suggests significant overlap in exposure. ULVM charges 0.20%/yr vs 0.60%/yr for DVLU.
Performance
ULVM vs. DVLU - Performance Comparison
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Returns By Period
In the year-to-date period, ULVM achieves a 18.66% return, which is significantly higher than DVLU's 13.71% return.
ULVM
- 1D
- 0.39%
- 1M
- 1.39%
- 6M
- 15.03%
- YTD
- 18.66%
- 1Y
- 28.23%
- 3Y*
- 20.75%
- 5Y*
- 12.69%
- 10Y*
- —
DVLU
- 1D
- 0.39%
- 1M
- 1.97%
- 6M
- 10.62%
- YTD
- 13.71%
- 1Y
- 36.51%
- 3Y*
- 20.42%
- 5Y*
- 13.27%
- 10Y*
- —
ULVM vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ULVM VictoryShares US Value Momentum ETF | 18.66% | 15.84% | 19.76% | 10.16% | -9.04% | 31.06% | 3.51% | 22.08% | -15.01% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 13.71% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between ULVM and DVLU is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.83 |
The correlation between ULVM and DVLU has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.
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Return for Risk
ULVM vs. DVLU — Risk / Return Rank
ULVM
DVLU
ULVM vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Value Momentum ETF (ULVM) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| ULVM | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.40 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.38 | 3.00 | +1.39 |
| Martin ratioReturn relative to average drawdown | 18.10 | 10.91 | +7.19 |
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Drawdowns
ULVM vs. DVLU - Drawdown Comparison
The maximum ULVM drawdown since its inception was -40.71%, smaller than the maximum DVLU drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for ULVM and DVLU.
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Drawdown Indicators
| ULVM | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.71% | -53.26% | +12.55% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -12.24% | +5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -24.86% | +6.72% |
Max Drawdown (5Y)Largest decline over 5 years | -19.77% | -24.86% | +5.09% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -8.67% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 3.35% | -1.79% |
Volatility
ULVM vs. DVLU - Volatility Comparison
VictoryShares US Value Momentum ETF (ULVM) and First Trust Dorsey Wright Momentum & Value ETF (DVLU) have volatilities of 2.84% and 2.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULVM | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.84% | 2.75% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.10% | 11.99% | -3.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.83% | 16.25% | -5.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 21.23% | -5.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.77% | 25.66% | -6.89% |
ULVM vs. DVLU - Expense Ratio Comparison
ULVM has a 0.20% expense ratio, which is lower than DVLU's 0.60% expense ratio.
Dividends
ULVM vs. DVLU - Dividend Comparison
ULVM's dividend yield for the trailing twelve months is around 1.63%, more than DVLU's 0.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.67% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% |
ULVM VictoryShares US Value Momentum ETF | 1.63% | 1.81% | 1.57% | 1.94% | 1.91% | 1.36% | 1.51% | 1.88% | 1.67% | 0.38% |
Frequently Asked Questions
ULVM and DVLU have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULVM has higher volatility (2.84%) compared to DVLU (2.75%). In terms of maximum drawdown, ULVM dropped -40.71% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 13.27% vs 12.69% for ULVM. On fees, ULVM is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 13.27% return vs 12.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ULVM is cheaper with a 0.20% expense ratio, compared with 0.60% for DVLU.
ULVM has the higher dividend yield at 1.63%, compared with 0.67% for DVLU.
ULVM tracks Nasdaq Victory US Value Momentum Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: Victory Capital and First Trust. Their fees differ too: 0.20% for ULVM and 0.60% for DVLU.
ULVM currently has the higher Sharpe Ratio (2.62 vs 2.26), 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.
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