VAMO vs. FHEQ

Last updated Apr 2, 2026

Compare and contrast key facts about Cambria Value and Momentum ETF (VAMO) and Fidelity Hedged Equity ETF (FHEQ).

VAMO and FHEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VAMO is an actively managed fund by Cambria. It was launched on Sep 8, 2015. FHEQ is an actively managed fund by Fidelity. It was launched on Apr 9, 2024.

Performance

VAMO vs. FHEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Value and Momentum ETF (VAMO) and Fidelity Hedged Equity ETF (FHEQ). The values are adjusted to include any dividend payments, if applicable.

VAMO vs. FHEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VAMO Cambria Value and Momentum ETF	3.84%	16.51%	3.36%
FHEQ Fidelity Hedged Equity ETF	-4.15%	13.34%	10.57%

Returns By Period

In the year-to-date period, VAMO achieves a 3.84% return, which is significantly higher than FHEQ's -4.15% return.

VAMO

• 1D: -0.28%
• 1M: 0.18%
• YTD: 3.84%
• 6M: 6.46%
• 1Y: 22.03%
• 3Y*: 13.40%
• 5Y*: 9.57%
• 10Y*: 5.47%

FHEQ

• 1D: 0.51%
• 1M: -3.55%
• YTD: -4.15%
• 6M: -3.51%
• 1Y: 12.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VAMO vs. FHEQ - Expense Ratio Comparison

VAMO has a 0.65% expense ratio, which is higher than FHEQ's 0.48% expense ratio.

VAMO

Cambria Value and Momentum ETF

FHEQ

Fidelity Hedged Equity ETF

Return for Risk

VAMO vs. FHEQ — Risk / Return Rank

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

VAMO

VAMO Risk / Return Rank: 90
VAMO Sharpe Ratio Rank: 88
VAMO Sortino Ratio Rank: 92
VAMO Omega Ratio Rank: 84
VAMO Calmar Ratio Rank: 94
VAMO Martin Ratio Rank: 91

FHEQ

FHEQ Risk / Return Rank: 60
FHEQ Sharpe Ratio Rank: 62
FHEQ Sortino Ratio Rank: 63
FHEQ Omega Ratio Rank: 55
FHEQ Calmar Ratio Rank: 61
FHEQ Martin Ratio Rank: 61

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.

VAMO vs. FHEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Value and Momentum ETF (VAMO) and Fidelity Hedged Equity ETF (FHEQ). 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.

	VAMO	FHEQ	Difference
Sharpe ratio Return per unit of total volatility	1.94	1.14	+0.80
Sortino ratio Return per unit of downside risk	2.80	1.67	+1.12
Omega ratio Gain probability vs. loss probability	1.34	1.22	+0.13
Calmar ratio Return relative to maximum drawdown	4.00	1.65	+2.35
Martin ratio Return relative to average drawdown	13.00	6.46	+6.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAMO vs. FHEQ - Sharpe Ratio Comparison

The current VAMO Sharpe Ratio is 1.94, which is higher than the FHEQ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VAMO and FHEQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VAMO	FHEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	1.14	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.25	0.94	-0.69

Correlation

The correlation between VAMO and FHEQ is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VAMO vs. FHEQ - Dividend Comparison

VAMO's dividend yield for the trailing twelve months is around 0.63%, less than FHEQ's 0.66% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAMO Cambria Value and Momentum ETF	0.63%	1.41%	0.84%	1.35%	1.10%	1.07%	1.03%	1.15%	1.03%	0.35%	0.56%	0.20%
FHEQ Fidelity Hedged Equity ETF	0.66%	0.63%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VAMO vs. FHEQ - Drawdown Comparison

The maximum VAMO drawdown since its inception was -41.84%, which is greater than FHEQ's maximum drawdown of -11.12%. Use the drawdown chart below to compare losses from any high point for VAMO and FHEQ.

Drawdown Indicators

	VAMO	FHEQ	Difference
Max Drawdown Largest peak-to-trough decline	-41.84%	-11.12%	-30.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.55%	-7.77%	+2.22%
Max Drawdown (5Y) Largest decline over 5 years	-17.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.84%	—	—
Current Drawdown Current decline from peak	-2.11%	-5.70%	+3.59%
Average Drawdown Average peak-to-trough decline	-10.10%	-1.90%	-8.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.99%	-0.28%

Volatility

VAMO vs. FHEQ - Volatility Comparison

Cambria Value and Momentum ETF (VAMO) and Fidelity Hedged Equity ETF (FHEQ) have volatilities of 2.97% and 2.91%, 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.

Volatility by Period

	VAMO	FHEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	2.91%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	7.07%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	11.09%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	10.40%	+7.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	10.40%	+7.68%