VLUE vs. MDLV

Last updated Jun 24, 2026

VLUE (iShares MSCI USA Value Factor ETF) and MDLV (Morgan Dempsey Large Cap Value ETF) are both Large Cap Value Equities funds. VLUE is passively managed, while MDLV is actively managed. Over the past 3 years, VLUE returned 32.50%/yr vs 13.01%/yr for MDLV. A 0.66 correlation means they provide meaningful diversification when combined. VLUE charges 0.15%/yr vs 0.58%/yr for MDLV.

Performance

VLUE vs. MDLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI USA Value Factor ETF (VLUE) 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, VLUE achieves a 45.30% return, which is significantly higher than MDLV's 10.68% return.

VLUE

• 1D: -3.46%
• 1M: 5.59%
• YTD: 45.30%
• 6M: 44.72%
• 1Y: 81.73%
• 3Y*: 32.50%
• 5Y*: 16.52%
• 10Y*: 15.56%

MDLV

• 1D: 0.74%
• 1M: -0.66%
• YTD: 10.68%
• 6M: 10.67%
• 1Y: 19.32%
• 3Y*: 13.01%
• 5Y*: —
• 10Y*: —

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

VLUE vs. MDLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VLUE iShares MSCI USA Value Factor ETF	45.30%	32.67%	7.25%	14.40%
MDLV Morgan Dempsey Large Cap Value ETF	10.68%	13.30%	10.16%	-0.14%

Correlation

The correlation between VLUE and MDLV is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (All Time) Calculated using the full available price history since Apr 26, 2023	0.66

Over the past year, the correlation between VLUE and MDLV has dropped to 0.45 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

VLUE vs. MDLV - Sectors Allocation Comparison

Sectors	VLUE	MDLV
Technology	40.7%	10.0%
Financial Services	10.5%	14.9%
Consumer Cyclical	10.1%	4.4%
Communication Services	9.5%	6.4%
Industrials	8.0%	14.6%
Healthcare	7.9%	7.8%
Consumer Defensive	4.4%	8.3%
Energy	3.5%	14.1%
Utilities	2.0%	14.6%
Real Estate	1.8%	2.3%
Basic Materials	1.3%	2.7%

Return for Risk

VLUE vs. MDLV — Risk / Return Rank

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

VLUE

VLUE Risk / Return Rank: 96
VLUE Sharpe Ratio Rank: 97
VLUE Sortino Ratio Rank: 96
VLUE Omega Ratio Rank: 95
VLUE Calmar Ratio Rank: 96
VLUE Martin Ratio Rank: 97

MDLV

MDLV Risk / Return Rank: 77
MDLV Sharpe Ratio Rank: 75
MDLV Sortino Ratio Rank: 77
MDLV Omega Ratio Rank: 68
MDLV Calmar Ratio Rank: 87
MDLV Martin Ratio Rank: 79

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.

VLUE vs. MDLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA Value Factor ETF (VLUE) 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.

	VLUE	MDLV	Difference
Sharpe ratio: Return per unit of total volatility	4.31	2.18	+2.13
Sortino ratio: Return per unit of downside risk	5.37	3.14	+2.23
Omega ratio: Gain probability vs. loss probability	1.73	1.37	+0.36
Calmar ratio: Return relative to maximum drawdown	9.09	4.55	+4.54
Martin ratio: Return relative to average drawdown	38.03	14.09	+23.94

VLUE vs. MDLV - Sharpe Ratio Comparison

The current VLUE Sharpe Ratio is 4.31, which is higher than the MDLV Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of VLUE 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

VLUE vs. MDLV - Drawdown Comparison

The maximum VLUE drawdown since its inception was -39.47%, which is greater than MDLV's maximum drawdown of -10.71%. Use the drawdown chart below to compare losses from any high point for VLUE and MDLV.

Drawdown Indicators

	VLUE	MDLV	Difference
Max Drawdown Largest peak-to-trough decline	-39.47%	-10.71%	-28.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-4.27%	-4.77%
Max Drawdown (3Y) Largest decline over 3 years	-17.89%	-10.71%	-7.18%
Max Drawdown (5Y) Largest decline over 5 years	-27.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.47%	—	—
Current Drawdown Current decline from peak	-3.46%	-1.44%	-2.02%
Average Drawdown Average peak-to-trough decline	-6.00%	-2.27%	-3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	1.37%	+0.79%

Volatility

VLUE vs. MDLV - Volatility Comparison

iShares MSCI USA Value Factor ETF (VLUE) has a higher volatility of 9.76% compared to Morgan Dempsey Large Cap Value ETF (MDLV) at 3.01%. This indicates that VLUE's price experiences larger fluctuations and is considered to be riskier than MDLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VLUE	MDLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	3.01%	+6.75%
Volatility (6M) Calculated over the trailing 6-month period	16.13%	6.74%	+9.39%
Volatility (1Y) Calculated over the trailing 1-year period	19.07%	8.95%	+10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.12%	10.52%	+7.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.95%	10.52%	+9.43%

VLUE vs. MDLV - Expense Ratio Comparison

VLUE has a 0.15% expense ratio, which is lower than MDLV's 0.58% expense ratio.

Dividends

VLUE vs. MDLV - Dividend Comparison

VLUE's dividend yield for the trailing twelve months is around 1.42%, less than MDLV's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDLV Morgan Dempsey Large Cap Value ETF	2.79%	3.00%	2.78%	2.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VLUE iShares MSCI USA Value Factor ETF	1.42%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both VLUE and MDLV in my portfolio?

VLUE and MDLV have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VLUE or MDLV?

VLUE has higher volatility (9.76%) compared to MDLV (3.01%). In terms of maximum drawdown, VLUE dropped -39.47% vs MDLV's -10.71%.

Which ETF is better, VLUE or MDLV?

On 3-year performance, VLUE leads with 32.50% vs 13.01% for MDLV. On fees, VLUE is cheaper at 0.15% per year. On volatility, MDLV has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VLUE or MDLV?

Over the 3-year period, VLUE has performed better with a 32.50% return vs 13.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VLUE or MDLV?

VLUE is cheaper with a 0.15% expense ratio, compared with 0.58% for MDLV.

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

MDLV has the higher dividend yield at 2.79%, compared with 1.42% for VLUE.

What is the main difference between VLUE and MDLV?

They also come from different issuers: iShares and Morgan Dempsey. Their fees differ too: 0.15% for VLUE and 0.58% for MDLV.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (4.31 vs 2.18), 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.