VLU vs. MDLV

Last updated Aug 5, 2026

VLU (SPDR S&P 1500 Value Tilt ETF) and MDLV (Morgan Dempsey Large Cap Value ETF) are both Large Cap Value Equities funds. VLU is passively managed, while MDLV is actively managed. Over the past 3 years, VLU returned 20.17%/yr vs 13.22%/yr for MDLV. Their 0.74 correlation means they have sometimes moved together and sometimes differently. VLU charges 0.12%/yr vs 0.58%/yr for MDLV.

Performance

VLU vs. MDLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 1500 Value Tilt ETF (VLU) and Morgan Dempsey Large Cap Value ETF (MDLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VLU achieves a 19.00% return, which is significantly higher than MDLV's 12.94% return.

VLU

• 1D: 1.12%
• 1M: 3.66%
• 6M: 12.67%
• YTD: 19.00%
• 1Y: 31.34%
• 3Y*: 20.17%
• 5Y*: 13.37%
• 10Y*: 14.17%
• ALL TIME*: 13.95%

MDLV

• 1D: 0.52%
• 1M: 1.37%
• 6M: 5.08%
• YTD: 12.94%
• 1Y: 20.11%
• 3Y*: 13.22%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.01%

*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)
MDLV Morgan Dempsey Large Cap Value ETF	$186.05K	$163.82K	$192.99K
VLU SPDR S&P 1500 Value Tilt ETF	$1.43M	$1.32M	$1.58M

VLU vs. MDLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VLU SPDR S&P 1500 Value Tilt ETF	19.00%	16.70%	17.24%	15.46%
MDLV Morgan Dempsey Large Cap Value ETF	12.94%	13.30%	10.16%	-0.14%

Correlation

The correlation between VLU and MDLV is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Apr 26, 2023	0.74

The correlation between VLU and MDLV shifts across timeframes, from 0.63 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

VLU vs. MDLV - Sectors Allocation Comparison

Sectors	VLU	MDLV
Financial Services	19.3%	15.4%
Technology	18.4%	9.6%
Healthcare	12.3%	8.6%
Consumer Cyclical	10.4%	4.4%
Industrials	8.8%	15.1%
Communication Services	8.0%	5.5%
Consumer Defensive	7.1%	8.3%
Energy	6.3%	13.6%
Utilities	3.6%	15.3%
Real Estate	3.5%	1.9%
Basic Materials	2.4%	2.4%

Return for Risk

VLU vs. MDLV — Risk / Return Rank

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

VLU

VLU Risk / Return Rank: 94
VLU Sharpe Ratio Rank: 95
VLU Sortino Ratio Rank: 94
VLU Omega Ratio Rank: 94
VLU Calmar Ratio Rank: 93
VLU Martin Ratio Rank: 95

MDLV

MDLV Risk / Return Rank: 87
MDLV Sharpe Ratio Rank: 86
MDLV Sortino Ratio Rank: 87
MDLV Omega Ratio Rank: 81
MDLV Calmar Ratio Rank: 93
MDLV Martin Ratio Rank: 88

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.

VLU vs. MDLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) and Morgan Dempsey Large Cap Value ETF (MDLV). 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.

	VLU	MDLV	Difference
Sharpe ratio: Return per unit of total volatility	2.92	2.22	+0.71
Sortino ratio: Return per unit of downside risk	4.03	3.22	+0.81
Omega ratio: Gain probability vs. loss probability	1.55	1.38	+0.17
Calmar ratio: Return relative to maximum drawdown	4.97	4.74	+0.23
Martin ratio: Return relative to average drawdown	20.62	14.86	+5.75

VLU vs. MDLV - Sharpe Ratio Comparison

The current VLU Sharpe Ratio is 2.92, which is higher than the MDLV Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of VLU and MDLV, 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

VLU vs. MDLV - Drawdown Comparison

The maximum VLU drawdown since its inception was -37.39%, which is greater than MDLV's maximum drawdown of -10.71%. Use the drawdown chart below to compare losses from any high point for VLU and MDLV.

Drawdown Indicators

	VLU	MDLV	Difference
Max Drawdown Largest peak-to-trough decline	-37.39%	-10.71%	-26.68%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-4.27%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-16.22%	-10.71%	-5.51%
Max Drawdown (5Y) Largest decline over 5 years	-19.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.39%	—	—
Current Drawdown Current decline from peak	0.00%	-0.82%	+0.82%
Average Drawdown Average peak-to-trough decline	-3.70%	-2.23%	-1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.36%	+0.16%

Volatility

VLU vs. MDLV - Volatility Comparison

The current volatility for SPDR S&P 1500 Value Tilt ETF (VLU) is 2.92%, while Morgan Dempsey Large Cap Value ETF (MDLV) has a volatility of 3.17%. This indicates that VLU experiences smaller price fluctuations and is considered to be less risky than MDLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLU	MDLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.17%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	6.95%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	9.12%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	10.51%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	10.51%	+7.47%

VLU vs. MDLV - Expense Ratio Comparison

VLU has a 0.12% expense ratio, which is lower than MDLV's 0.58% expense ratio.

Dividends

VLU vs. MDLV - Dividend Comparison

VLU's dividend yield for the trailing twelve months is around 1.56%, less than MDLV's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDLV Morgan Dempsey Large Cap Value ETF	2.69%	3.00%	2.78%	2.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VLU SPDR S&P 1500 Value Tilt ETF	1.56%	1.82%	2.00%	2.02%	2.16%	1.86%	1.98%	2.19%	2.57%	1.96%	2.14%	6.37%

Frequently Asked Questions

Can I hold both VLU and MDLV in my portfolio?

VLU and MDLV have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLU or MDLV?

MDLV has higher volatility (3.17%) compared to VLU (2.92%). In terms of maximum drawdown, VLU dropped -37.39% vs MDLV's -10.71%.

Which ETF is better, VLU or MDLV?

On 3-year performance, VLU leads with 20.17% vs 13.22% for MDLV. On fees, VLU is cheaper at 0.12% per year. On volatility, VLU has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLU or MDLV?

Over the 3-year period, VLU has performed better with a 20.17% return vs 13.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLU or MDLV?

VLU is cheaper with a 0.12% expense ratio, compared with 0.58% for MDLV.

Which ETF pays a higher dividend yield, VLU or MDLV?

MDLV has the higher dividend yield at 2.69%, compared with 1.56% for VLU.

What is the main difference between VLU and MDLV?

They also come from different issuers: State Street and Morgan Dempsey. Their fees differ too: 0.12% for VLU and 0.58% for MDLV.

Which has better risk-adjusted returns?

VLU currently has the higher Sharpe Ratio (2.92 vs 2.22), 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.