VMAX vs. AVLV

Last updated Jun 4, 2026

VMAX (Hartford US Value ETF) and AVLV (Avantis U.S. Large Cap Value ETF) are both Large Cap Value Equities funds. VMAX is actively managed, while AVLV is passively managed. Over the past year, VMAX returned 27.28% vs 38.77% for AVLV. Their correlation of 0.93 suggests significant overlap in exposure. VMAX charges 0.29%/yr vs 0.15%/yr for AVLV.

Performance

VMAX vs. AVLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford US Value ETF (VMAX) and Avantis U.S. Large Cap Value ETF (AVLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VMAX achieves a 12.22% return, which is significantly lower than AVLV's 20.64% return.

VMAX

• 1D: -0.50%
• 1M: 2.11%
• YTD: 12.22%
• 6M: 13.50%
• 1Y: 27.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVLV

• 1D: 0.14%
• 1M: 5.75%
• YTD: 20.64%
• 6M: 22.01%
• 1Y: 38.77%
• 3Y*: 23.23%
• 5Y*: —
• 10Y*: —

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

VMAX vs. AVLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VMAX Hartford US Value ETF	12.22%	15.65%	15.89%	6.98%
AVLV Avantis U.S. Large Cap Value ETF	20.64%	15.12%	17.49%	6.29%

Correlation

The correlation between VMAX and AVLV is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.93

The correlation between VMAX and AVLV has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

VMAX vs. AVLV - Sectors Allocation Comparison

Sectors	VMAX	AVLV
Financial Services	33.3%	16.3%
Energy	12.3%	14.4%
Healthcare	11.0%	5.6%
Technology	10.8%	17.2%
Communication Services	6.7%	6.9%
Utilities	5.7%	0.3%
Industrials	5.6%	15.4%
Real Estate	4.3%	0.1%
Consumer Defensive	3.9%	7.7%
Consumer Cyclical	3.7%	14.1%
Basic Materials	2.8%	2.0%

Return for Risk

VMAX vs. AVLV — Risk / Return Rank

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

VMAX

VMAX Risk / Return Rank: 75
VMAX Sharpe Ratio Rank: 67
VMAX Sortino Ratio Rank: 67
VMAX Omega Ratio Rank: 65
VMAX Calmar Ratio Rank: 90
VMAX Martin Ratio Rank: 88

AVLV

AVLV Risk / Return Rank: 91
AVLV Sharpe Ratio Rank: 90
AVLV Sortino Ratio Rank: 91
AVLV Omega Ratio Rank: 89
AVLV Calmar Ratio Rank: 91
AVLV Martin Ratio Rank: 93

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.

VMAX vs. AVLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford US Value ETF (VMAX) and Avantis U.S. Large Cap Value ETF (AVLV). 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.

	VMAX	AVLV	Difference
Sharpe ratio: Return per unit of total volatility	2.25	3.18	-0.93
Sortino ratio: Return per unit of downside risk	3.07	4.39	-1.32
Omega ratio: Gain probability vs. loss probability	1.39	1.57	-0.18
Calmar ratio: Return relative to maximum drawdown	5.56	6.09	-0.54
Martin ratio: Return relative to average drawdown	19.55	24.39	-4.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VMAX vs. AVLV - Sharpe Ratio Comparison

The current VMAX Sharpe Ratio is 2.25, which is comparable to the AVLV Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of VMAX and AVLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VMAX	AVLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	3.18	-0.93
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.86	+0.51

Drawdowns

VMAX vs. AVLV - Drawdown Comparison

The maximum VMAX drawdown since its inception was -19.05%, roughly equal to the maximum AVLV drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for VMAX and AVLV.

Drawdown Indicators

	VMAX	AVLV	Difference
Max Drawdown Largest peak-to-trough decline	-19.05%	-19.50%	+0.45%
Max Drawdown (1Y) Largest decline over 1 year	-4.93%	-6.39%	+1.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.50%	—
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-2.57%	-3.93%	+1.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	1.59%	-0.19%

Volatility

VMAX vs. AVLV - Volatility Comparison

The current volatility for Hartford US Value ETF (VMAX) is 2.55%, while Avantis U.S. Large Cap Value ETF (AVLV) has a volatility of 3.12%. This indicates that VMAX experiences smaller price fluctuations and is considered to be less risky than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VMAX	AVLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	3.12%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	9.04%	-0.33%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	12.29%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	17.35%	-1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.45%	17.35%	-1.90%

VMAX vs. AVLV - Expense Ratio Comparison

VMAX has a 0.29% expense ratio, which is higher than AVLV's 0.15% expense ratio.

Dividends

VMAX vs. AVLV - Dividend Comparison

VMAX's dividend yield for the trailing twelve months is around 1.91%, more than AVLV's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	1.07%	1.33%	1.58%	1.85%	2.00%	0.29%
VMAX Hartford US Value ETF	1.91%	2.14%	1.95%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VMAX and AVLV in my portfolio?

With a correlation of 0.91, VMAX and AVLV 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 is riskier, VMAX or AVLV?

AVLV has higher volatility (3.12%) compared to VMAX (2.55%). In terms of maximum drawdown, VMAX dropped -19.05% vs AVLV's -19.50%.

Which ETF is better, VMAX or AVLV?

On 1-year performance, AVLV leads with 38.77% vs 27.28% for VMAX. On fees, AVLV is cheaper at 0.15% per year. On volatility, VMAX has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VMAX or AVLV?

Over the 1-year period, AVLV has performed better with a 38.77% return vs 27.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VMAX or AVLV?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.29% for VMAX.

Which ETF pays a higher dividend yield, VMAX or AVLV?

VMAX has the higher dividend yield at 1.91%, compared with 1.07% for AVLV.

What is the main difference between VMAX and AVLV?

They also come from different issuers: Hartford and American Century. Their fees differ too: 0.29% for VMAX and 0.15% for AVLV.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (3.17 vs 2.25), 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.