VAW vs. DVXB

Last updated Jul 17, 2026

VAW (Vanguard Materials ETF) and DVXB (WEBs Materials XLB Defined Volatility ETF) are both Materials funds - VAW tracks the MSCI US Investable Market Materials 25/50 Index while DVXB tracks the Syntax Defined Volatility XLB Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. VAW charges 0.09%/yr vs 0.89%/yr for DVXB.

Performance

VAW vs. DVXB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Materials ETF (VAW) and WEBs Materials XLB Defined Volatility ETF (DVXB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VAW achieves a 9.58% return, which is significantly lower than DVXB's 16.74% return.

VAW

• 1D: 0.25%
• 1M: -4.75%
• 6M: 0.74%
• YTD: 9.58%
• 1Y: 15.77%
• 3Y*: 8.86%
• 5Y*: 6.83%
• 10Y*: 9.51%

DVXB

• 1D: 1.26%
• 1M: -4.44%
• 6M: 1.54%
• YTD: 16.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VAW vs. DVXB - Yearly Performance Comparison

	2026 (YTD)	2025
VAW Vanguard Materials ETF	9.58%	2.73%
DVXB WEBs Materials XLB Defined Volatility ETF	16.74%	-6.27%

Correlation

The correlation between VAW and DVXB is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.98

Return for Risk

VAW vs. DVXB — Risk / Return Rank

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

VAW

VAW Risk / Return Rank: 28
VAW Sharpe Ratio Rank: 28
VAW Sortino Ratio Rank: 28
VAW Omega Ratio Rank: 26
VAW Calmar Ratio Rank: 29
VAW Martin Ratio Rank: 31

DVXB

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

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.

VAW vs. DVXB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Materials ETF (VAW) and WEBs Materials XLB Defined Volatility ETF (DVXB). 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.

	VAW	DVXB	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.30	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.18	—	—
Martin ratio: Return relative to average drawdown	3.53	—	—

Drawdowns

VAW vs. DVXB - Drawdown Comparison

The maximum VAW drawdown since its inception was -62.17%, which is greater than DVXB's maximum drawdown of -19.77%. Use the drawdown chart below to compare losses from any high point for VAW and DVXB.

Drawdown Indicators

	VAW	DVXB	Difference
Max Drawdown Largest peak-to-trough decline	-62.17%	-19.77%	-42.40%
Max Drawdown (1Y) Largest decline over 1 year	-13.42%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.13%	—	—
Current Drawdown Current decline from peak	-6.84%	-11.55%	+4.71%
Average Drawdown Average peak-to-trough decline	-9.61%	-7.37%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.48%	—	—

Volatility

Volatility by Period

	VAW	DVXB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.78%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.52%	30.41%	-11.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	30.41%	-10.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	30.41%	-9.23%

VAW vs. DVXB - Expense Ratio Comparison

VAW has a 0.09% expense ratio, which is lower than DVXB's 0.89% expense ratio.

Dividends

VAW vs. DVXB - Dividend Comparison

VAW's dividend yield for the trailing twelve months is around 1.41%, while DVXB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXB WEBs Materials XLB Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VAW Vanguard Materials ETF	1.41%	1.55%	1.70%	1.72%	1.98%	1.44%	1.67%	1.94%	2.03%	1.63%	1.67%	2.30%

Frequently Asked Questions

Can I hold both VAW and DVXB in my portfolio?

With a correlation of 0.98, VAW and DVXB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VAW or DVXB?

On fees, VAW is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VAW or DVXB?

VAW is cheaper with a 0.09% expense ratio, compared with 0.89% for DVXB.

Which ETF pays a higher dividend yield, VAW or DVXB?

VAW has the higher dividend yield at 1.41%, compared with 0.00% for DVXB.

What is the main difference between VAW and DVXB?

VAW tracks MSCI US Investable Market Materials 25/50 Index, while DVXB tracks Syntax Defined Volatility XLB Index. They also come from different issuers: Vanguard and WEBs. Their fees differ too: 0.09% for VAW and 0.89% for DVXB.