UPSD vs. BVAL

Last updated Jul 10, 2026

UPSD (Aptus Large Cap Upside ETF) and BVAL (Bluemonte Large Cap Value ETF) are both exchange-traded funds - UPSD is a Actively Managed fund actively managed by Aptus, while BVAL is a Large Cap Value Equities fund managed by Bluemonte. Over the past year, UPSD returned 17.13% vs 22.28% for BVAL. Their correlation of 0.84 suggests significant overlap in exposure. UPSD charges 0.79%/yr vs 0.24%/yr for BVAL.

Performance

UPSD vs. BVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Large Cap Upside ETF (UPSD) and Bluemonte Large Cap Value ETF (BVAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPSD achieves a 8.09% return, which is significantly lower than BVAL's 13.32% return.

UPSD

• 1D: 0.30%
• 1M: 4.68%
• 6M: 6.70%
• YTD: 8.09%
• 1Y: 17.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BVAL

• 1D: 0.58%
• 1M: 2.32%
• 6M: 11.01%
• YTD: 13.32%
• 1Y: 22.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UPSD vs. BVAL - Yearly Performance Comparison

	2026 (YTD)	2025
UPSD Aptus Large Cap Upside ETF	8.09%	14.07%
BVAL Bluemonte Large Cap Value ETF	13.32%	12.09%

Correlation

The correlation between UPSD and BVAL is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	0.84

The correlation between UPSD and BVAL has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

UPSD vs. BVAL — Risk / Return Rank

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

UPSD

UPSD Risk / Return Rank: 40
UPSD Sharpe Ratio Rank: 42
UPSD Sortino Ratio Rank: 39
UPSD Omega Ratio Rank: 40
UPSD Calmar Ratio Rank: 35
UPSD Martin Ratio Rank: 43

BVAL

BVAL Risk / Return Rank: 84
BVAL Sharpe Ratio Rank: 85
BVAL Sortino Ratio Rank: 85
BVAL Omega Ratio Rank: 83
BVAL Calmar Ratio Rank: 80
BVAL Martin Ratio Rank: 85

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.

UPSD vs. BVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Large Cap Upside ETF (UPSD) and Bluemonte Large Cap Value ETF (BVAL). 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.

	UPSD	BVAL	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.17	-0.97
Sortino ratio: Return per unit of downside risk	1.67	3.05	-1.39
Omega ratio: Gain probability vs. loss probability	1.22	1.39	-0.17
Calmar ratio: Return relative to maximum drawdown	1.44	3.34	-1.90
Martin ratio: Return relative to average drawdown	5.66	13.82	-8.16

UPSD vs. BVAL - Sharpe Ratio Comparison

The current UPSD Sharpe Ratio is 1.20, which is lower than the BVAL Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of UPSD and BVAL, 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

UPSD vs. BVAL - Drawdown Comparison

The maximum UPSD drawdown since its inception was -23.85%, which is greater than BVAL's maximum drawdown of -6.69%. Use the drawdown chart below to compare losses from any high point for UPSD and BVAL.

Drawdown Indicators

	UPSD	BVAL	Difference
Max Drawdown Largest peak-to-trough decline	-23.85%	-6.69%	-17.16%
Max Drawdown (1Y) Largest decline over 1 year	-11.91%	-6.69%	-5.22%
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-3.80%	-0.89%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	1.62%	+1.41%

Volatility

UPSD vs. BVAL - Volatility Comparison

Aptus Large Cap Upside ETF (UPSD) has a higher volatility of 4.36% compared to Bluemonte Large Cap Value ETF (BVAL) at 3.08%. This indicates that UPSD's price experiences larger fluctuations and is considered to be riskier than BVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPSD	BVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	3.08%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	11.05%	8.00%	+3.05%
Volatility (1Y) Calculated over the trailing 1-year period	14.30%	10.31%	+3.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.84%	10.25%	+10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.84%	10.25%	+10.59%

UPSD vs. BVAL - Expense Ratio Comparison

UPSD has a 0.79% expense ratio, which is higher than BVAL's 0.24% expense ratio.

Dividends

UPSD vs. BVAL - Dividend Comparison

UPSD's dividend yield for the trailing twelve months is around 0.66%, less than BVAL's 1.32% yield.

Position	TTM	2025	2024
BVAL Bluemonte Large Cap Value ETF	1.32%	0.73%	0.00%
UPSD Aptus Large Cap Upside ETF	0.66%	0.67%	0.06%

Frequently Asked Questions

Can I hold both UPSD and BVAL in my portfolio?

UPSD and BVAL have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPSD or BVAL?

UPSD has higher volatility (4.36%) compared to BVAL (3.08%). In terms of maximum drawdown, UPSD dropped -23.85% vs BVAL's -6.69%.

Which ETF is better, UPSD or BVAL?

On 1-year performance, BVAL leads with 22.28% vs 17.13% for UPSD. On fees, BVAL is cheaper at 0.24% per year. On volatility, BVAL has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPSD or BVAL?

Over the 1-year period, BVAL has performed better with a 22.28% return vs 17.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPSD or BVAL?

BVAL is cheaper with a 0.24% expense ratio, compared with 0.79% for UPSD.

Which ETF pays a higher dividend yield, UPSD or BVAL?

BVAL has the higher dividend yield at 1.32%, compared with 0.66% for UPSD.

What is the main difference between UPSD and BVAL?

UPSD is categorized as Actively Managed, while BVAL is Large Cap Value Equities. They also come from different issuers: Aptus and Bluemonte. Their fees differ too: 0.79% for UPSD and 0.24% for BVAL.

Which has better risk-adjusted returns?

BVAL currently has the higher Sharpe Ratio (2.17 vs 1.20), 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.