VLLU vs. DIVZ

Last updated Aug 2, 2026

VLLU (Harbor AlphaEdge Large Cap Value ETF) and DIVZ (Opal Dividend Income ETF) are both Large Cap Value Equities funds. VLLU is passively managed, while DIVZ is actively managed. Over the past year, VLLU returned 24.82% vs 11.27% for DIVZ. Their 0.63 correlation means they have sometimes moved together and sometimes differently. VLLU charges 0.25%/yr vs 0.65%/yr for DIVZ.

Performance

VLLU vs. DIVZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Large Cap Value ETF (VLLU) and Opal Dividend Income ETF (DIVZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLLU achieves a 12.63% return, which is significantly higher than DIVZ's 7.08% return.

VLLU

• 1D: -0.07%
• 1M: 1.69%
• 6M: 9.62%
• YTD: 12.63%
• 1Y: 24.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.96%

DIVZ

• 1D: -0.45%
• 1M: 0.59%
• 6M: 3.13%
• YTD: 7.08%
• 1Y: 11.27%
• 3Y*: 14.07%
• 5Y*: 9.79%
• 10Y*: —
• ALL TIME*: 11.43%

*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)
DIVZ Opal Dividend Income ETF	$843.62K	$1.68M	$1.36M
VLLU Harbor AlphaEdge Large Cap Value ETF	$4.72K	$3.59K	$3.56K

VLLU vs. DIVZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VLLU Harbor AlphaEdge Large Cap Value ETF	12.63%	17.35%	1.89%
DIVZ Opal Dividend Income ETF	7.08%	16.72%	0.53%

Correlation

The correlation between VLLU and DIVZ is 0.44, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.44
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.63

The correlation between VLLU and DIVZ shifts across timeframes, from 0.44 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

VLLU vs. DIVZ - Sectors Allocation Comparison

Sectors	VLLU	DIVZ
Technology	26.0%	3.3%
Financial Services	22.6%	9.0%
Healthcare	14.5%	19.7%
Industrials	9.0%	10.3%
Communication Services	7.8%	5.4%
Energy	6.1%	14.7%
Consumer Defensive	5.8%	20.1%
Consumer Cyclical	4.7%	3.9%
Basic Materials	3.1%	5.7%
Utilities	0.5%	13.6%
Real Estate	-	-

Return for Risk

VLLU vs. DIVZ — Risk / Return Rank

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

VLLU

VLLU Risk / Return Rank: 88
VLLU Sharpe Ratio Rank: 88
VLLU Sortino Ratio Rank: 89
VLLU Omega Ratio Rank: 86
VLLU Calmar Ratio Rank: 89
VLLU Martin Ratio Rank: 89

DIVZ

DIVZ Risk / Return Rank: 46
DIVZ Sharpe Ratio Rank: 46
DIVZ Sortino Ratio Rank: 47
DIVZ Omega Ratio Rank: 42
DIVZ Calmar Ratio Rank: 55
DIVZ Martin Ratio Rank: 42

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.

VLLU vs. DIVZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Large Cap Value ETF (VLLU) and Opal Dividend Income ETF (DIVZ). 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.

	VLLU	DIVZ	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.14	+1.02
Sortino ratio: Return per unit of downside risk	3.14	1.71	+1.42
Omega ratio: Gain probability vs. loss probability	1.38	1.20	+0.18
Calmar ratio: Return relative to maximum drawdown	3.81	1.95	+1.86
Martin ratio: Return relative to average drawdown	14.13	4.50	+9.62

VLLU vs. DIVZ - Sharpe Ratio Comparison

The current VLLU Sharpe Ratio is 2.16, which is higher than the DIVZ Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of VLLU and DIVZ, 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

VLLU vs. DIVZ - Drawdown Comparison

The maximum VLLU drawdown since its inception was -16.62%, which is greater than DIVZ's maximum drawdown of -15.42%. Use the drawdown chart below to compare losses from any high point for VLLU and DIVZ.

Drawdown Indicators

	VLLU	DIVZ	Difference
Max Drawdown Largest peak-to-trough decline	-16.62%	-15.42%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-5.83%	-0.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.98%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Current Drawdown Current decline from peak	-0.32%	-2.48%	+2.16%
Average Drawdown Average peak-to-trough decline	-2.33%	-3.44%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.52%	-0.82%

Volatility

VLLU vs. DIVZ - Volatility Comparison

The current volatility for Harbor AlphaEdge Large Cap Value ETF (VLLU) is 2.79%, while Opal Dividend Income ETF (DIVZ) has a volatility of 3.87%. This indicates that VLLU experiences smaller price fluctuations and is considered to be less risky than DIVZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLLU	DIVZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	3.87%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	7.84%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.19%	10.00%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	12.66%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	12.56%	+2.04%

VLLU vs. DIVZ - Expense Ratio Comparison

VLLU has a 0.25% expense ratio, which is lower than DIVZ's 0.65% expense ratio.

Dividends

VLLU vs. DIVZ - Dividend Comparison

VLLU's dividend yield for the trailing twelve months is around 1.35%, less than DIVZ's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021
DIVZ Opal Dividend Income ETF	2.47%	2.60%	2.63%	3.66%	3.23%	3.83%
VLLU Harbor AlphaEdge Large Cap Value ETF	1.35%	1.52%	0.90%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VLLU and DIVZ in my portfolio?

VLLU and DIVZ have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLLU or DIVZ?

DIVZ has higher volatility (3.87%) compared to VLLU (2.79%). In terms of maximum drawdown, VLLU dropped -16.62% vs DIVZ's -15.42%.

Which ETF is better, VLLU or DIVZ?

On 1-year performance, VLLU leads with 24.82% vs 11.27% for DIVZ. On fees, VLLU is cheaper at 0.25% per year. On volatility, VLLU has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLLU or DIVZ?

Over the 1-year period, VLLU has performed better with a 24.82% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLLU or DIVZ?

VLLU is cheaper with a 0.25% expense ratio, compared with 0.65% for DIVZ.

Which ETF pays a higher dividend yield, VLLU or DIVZ?

DIVZ has the higher dividend yield at 2.47%, compared with 1.35% for VLLU.

What is the main difference between VLLU and DIVZ?

They also come from different issuers: Harbor and TrueShares. Their fees differ too: 0.25% for VLLU and 0.65% for DIVZ.

Which has better risk-adjusted returns?

VLLU currently has the higher Sharpe Ratio (2.16 vs 1.14), 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.