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VSMV vs. CDL
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VSMV vs. CDL

Last updated Apr 1, 2026

Compare and contrast key facts about VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL).

VSMV and CDL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VSMV is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory Multi-Factor Minimum Volatility Index. It was launched on Jun 22, 2017. CDL is a passively managed fund by Crestview that tracks the performance of the Nasdaq Victory U.S. Large Cap High Dividend 100 Volatility Weighted Index. It was launched on Jul 8, 2015. Both VSMV and CDL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VSMV vs. CDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL). The values are adjusted to include any dividend payments, if applicable.

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VSMV vs. CDL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF		2.63%16.77%15.79%12.34%-7.56%25.66%5.05%26.79%-1.12%11.48%
CDL
VictoryShares US Large Cap High Dividend Volatility Wtd ETF		8.87%9.04%15.58%3.03%-0.45%33.42%-3.35%26.38%-5.86%8.83%

Returns By Period

In the year-to-date period, VSMV achieves a 2.63% return, which is significantly lower than CDL's 8.87% return.

VSMV

1D
1.41%
1M
-3.84%
YTD
2.63%
6M
6.16%
1Y
18.57%
3Y*
15.25%
5Y*
11.14%
10Y*
—

CDL

1D
0.78%
1M
-2.91%
YTD
8.87%
6M
8.94%
1Y
12.62%
3Y*
12.90%
5Y*
9.94%
10Y*
10.80%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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VictoryShares US Multi-Factor Minimum Volatility ETF

VictoryShares US Large Cap High Dividend Volatility Wtd ETF

Often compared with VSMV:
VSMV vs. USMVVSMV vs. SPYVSMV vs. FVVSMV vs. LGLVVSMV vs. MGVVSMV vs. FDVVVSMV vs. VOO
Often compared with CDL:
CDL vs. SCHDCDL vs. DHSCDL vs. SPYCDL vs. SPLVCDL vs. VYMCDL vs. SDOGCDL vs. VOO

VSMV vs. CDL - Expense Ratio Comparison

Both VSMV and CDL have an expense ratio of 0.35%.

VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF
CDL
VictoryShares US Large Cap High Dividend Volatility Wtd ETF

Return for Risk

VSMV vs. CDL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VSMV
VSMV Risk / Return Rank: 7979
Overall Rank
VSMV Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
VSMV Sortino Ratio Rank: 7979
Sortino Ratio Rank
VSMV Omega Ratio Rank: 7878
Omega Ratio Rank
VSMV Calmar Ratio Rank: 7575
Calmar Ratio Rank
VSMV Martin Ratio Rank: 8787
Martin Ratio Rank
CDL
CDL Risk / Return Rank: 5252
Overall Rank
CDL Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
CDL Sortino Ratio Rank: 5151
Sortino Ratio Rank
CDL Omega Ratio Rank: 5151
Omega Ratio Rank
CDL Calmar Ratio Rank: 5050
Calmar Ratio Rank
CDL Martin Ratio Rank: 5353
Martin Ratio Rank
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.

VSMV vs. CDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL). 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.

VSMVCDLDifference

Sharpe ratio

Return per unit of total volatility

1.39

0.93

+0.47

Sortino ratio

Return per unit of downside risk

2.01

1.33

+0.68

Omega ratio

Gain probability vs. loss probability

1.29

1.19

+0.10

Calmar ratio

Return relative to maximum drawdown

1.90

1.24

+0.66

Martin ratio

Return relative to average drawdown

10.28

5.03

+5.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSMV vs. CDL - Sharpe Ratio Comparison

The current VSMV Sharpe Ratio is 1.39, which is higher than the CDL Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of VSMV and CDL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VSMVCDLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

0.93

+0.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.87

0.72

+0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.64

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.64

+0.14

Correlation

The correlation between VSMV and CDL is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VSMV vs. CDL - Dividend Comparison

VSMV's dividend yield for the trailing twelve months is around 1.40%, less than CDL's 3.18% yield.

TTM20252024202320222021202020192018201720162015
VSMV
VictoryShares US Multi-Factor Minimum Volatility ETF		1.40%1.35%1.36%1.77%1.99%1.36%2.01%2.00%2.42%1.11%0.00%0.00%
CDL
VictoryShares US Large Cap High Dividend Volatility Wtd ETF		3.18%3.33%3.27%3.61%3.31%2.60%3.32%3.04%3.32%2.87%2.97%1.28%

Drawdowns

VSMV vs. CDL - Drawdown Comparison

The maximum VSMV drawdown since its inception was -31.33%, smaller than the maximum CDL drawdown of -41.03%. Use the drawdown chart below to compare losses from any high point for VSMV and CDL.

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Drawdown Indicators

VSMVCDLDifference

Max Drawdown

Largest peak-to-trough decline

-31.33%

-41.03%

+9.70%

Max Drawdown (1Y)

Largest decline over 1 year

-10.43%

-11.29%

+0.86%

Max Drawdown (5Y)

Largest decline over 5 years

-17.96%

-17.28%

-0.68%

Max Drawdown (10Y)

Largest decline over 10 years

—

-41.03%

—

Current Drawdown

Current decline from peak

-3.84%

-3.07%

-0.77%

Average Drawdown

Average peak-to-trough decline

-3.46%

-4.39%

+0.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.93%

2.79%

-0.86%

Volatility

VSMV vs. CDL - Volatility Comparison

The current volatility for VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) is 2.80%, while VictoryShares US Large Cap High Dividend Volatility Wtd ETF (CDL) has a volatility of 2.95%. This indicates that VSMV experiences smaller price fluctuations and is considered to be less risky than CDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VSMVCDLDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.80%

2.95%

-0.15%

Volatility (6M)

Calculated over the trailing 6-month period

6.75%

6.97%

-0.22%

Volatility (1Y)

Calculated over the trailing 1-year period

13.44%

13.72%

-0.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.92%

13.87%

-0.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.14%

17.05%

-1.91%