VSMV vs. FDVV

Last updated Aug 2, 2026

VSMV (VictoryShares US Multi-Factor Minimum Volatility ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - VSMV is a Multi-factor fund tracking the Nasdaq Victory Multi-Factor Minimum Volatility Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, VSMV returned 10.59%/yr vs 14.17%/yr for FDVV. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VSMV charges 0.35%/yr vs 0.29%/yr for FDVV.

Performance

VSMV vs. FDVV - Performance Comparison

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

Returns By Period

In the year-to-date period, VSMV achieves a 8.83% return, which is significantly lower than FDVV's 12.19% return.

VSMV

• 1D: -0.85%
• 1M: 0.25%
• 6M: 5.49%
• YTD: 8.83%
• 1Y: 23.97%
• 3Y*: 14.87%
• 5Y*: 10.59%
• 10Y*: —
• ALL TIME*: 12.05%

FDVV

• 1D: -0.35%
• 1M: 2.09%
• 6M: 9.39%
• YTD: 12.19%
• 1Y: 21.53%
• 3Y*: 18.35%
• 5Y*: 14.17%
• 10Y*: —
• ALL TIME*: 13.71%

*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)
FDVV Fidelity High Dividend ETF	$48.25M	$48.28M	$45.73M
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	$373.65K	$273.95K	$267.92K

VSMV vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	8.83%	16.77%	15.79%	12.34%	-7.56%	25.66%	5.05%	26.79%	-1.12%	11.48%
FDVV Fidelity High Dividend ETF	12.19%	17.08%	21.81%	18.00%	-4.21%	29.24%	2.80%	24.07%	-1.26%	9.30%

Correlation

The correlation between VSMV and FDVV is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Jun 22, 2017	0.78

The correlation between VSMV and FDVV shifts across timeframes, from 0.68 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.

VSMV vs. FDVV - Sectors Allocation Comparison

Sectors	VSMV	FDVV
Technology	38.1%	28.1%
Consumer Defensive	16.0%	11.0%
Healthcare	15.0%	3.3%
Industrials	8.2%	3.2%
Financial Services	7.8%	18.5%
Consumer Cyclical	4.9%	13.4%
Communication Services	4.6%	3.4%
Energy	3.9%	-
Basic Materials	1.6%	-
Real Estate	0.0%	10.0%
Utilities	0.0%	9.1%

Return for Risk

VSMV vs. FDVV — Risk / Return Rank

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

VSMV

VSMV Risk / Return Rank: 93
VSMV Sharpe Ratio Rank: 93
VSMV Sortino Ratio Rank: 93
VSMV Omega Ratio Rank: 92
VSMV Calmar Ratio Rank: 93
VSMV Martin Ratio Rank: 92

FDVV

FDVV Risk / Return Rank: 78
FDVV Sharpe Ratio Rank: 85
FDVV Sortino Ratio Rank: 84
FDVV Omega Ratio Rank: 84
FDVV Calmar Ratio Rank: 64
FDVV Martin Ratio Rank: 74

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.

VSMV vs. FDVV - Risk-Adjusted Trends Comparison

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

	VSMV	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.99	+0.48
Sortino ratio: Return per unit of downside risk	3.56	2.77	+0.80
Omega ratio: Gain probability vs. loss probability	1.44	1.36	+0.08
Calmar ratio: Return relative to maximum drawdown	4.47	2.21	+2.26
Martin ratio: Return relative to average drawdown	16.05	9.10	+6.95

VSMV vs. FDVV - Sharpe Ratio Comparison

The current VSMV Sharpe Ratio is 2.46, which is comparable to the FDVV Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of VSMV and FDVV, 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

VSMV vs. FDVV - Drawdown Comparison

The maximum VSMV drawdown since its inception was -31.33%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for VSMV and FDVV.

Drawdown Indicators

	VSMV	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-31.33%	-40.25%	+8.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.18%	-9.30%	+4.12%
Max Drawdown (3Y) Largest decline over 3 years	-13.22%	-15.90%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-20.18%	+2.22%
Current Drawdown Current decline from peak	-2.82%	-1.12%	-1.70%
Average Drawdown Average peak-to-trough decline	-3.38%	-3.76%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	2.26%	-0.82%

Volatility

VSMV vs. FDVV - Volatility Comparison

VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and Fidelity High Dividend ETF (FDVV) have volatilities of 3.13% and 3.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSMV	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	3.04%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	8.35%	-1.43%
Volatility (1Y) Calculated over the trailing 1-year period	9.50%	10.37%	-0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.89%	14.68%	-1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	16.91%	-1.93%

VSMV vs. FDVV - Expense Ratio Comparison

VSMV has a 0.35% expense ratio, which is higher than FDVV's 0.29% expense ratio.

Dividends

VSMV vs. FDVV - Dividend Comparison

VSMV's dividend yield for the trailing twelve months is around 1.32%, less than FDVV's 2.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDVV Fidelity High Dividend ETF	2.76%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%
VSMV VictoryShares US Multi-Factor Minimum Volatility ETF	1.32%	1.35%	1.36%	1.77%	1.99%	1.36%	2.01%	2.00%	2.42%	1.11%	0.00%

Frequently Asked Questions

Can I hold both VSMV and FDVV in my portfolio?

VSMV and FDVV have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSMV or FDVV?

VSMV has higher volatility (3.13%) compared to FDVV (3.04%). In terms of maximum drawdown, VSMV dropped -31.33% vs FDVV's -40.25%.

Which ETF is better, VSMV or FDVV?

On 5-year performance, FDVV leads with 14.17% vs 10.59% for VSMV. On fees, FDVV is cheaper at 0.29% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSMV or FDVV?

Over the 5-year period, FDVV has performed better with a 14.17% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSMV or FDVV?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.35% for VSMV.

Which ETF pays a higher dividend yield, VSMV or FDVV?

FDVV has the higher dividend yield at 2.76%, compared with 1.32% for VSMV.

What is the main difference between VSMV and FDVV?

VSMV is categorized as Multi-factor, while FDVV is Large Cap Blend Equities. VSMV tracks Nasdaq Victory Multi-Factor Minimum Volatility Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: Crestview and Fidelity. Their fees differ too: 0.35% for VSMV and 0.29% for FDVV.

Which has better risk-adjusted returns?

VSMV currently has the higher Sharpe Ratio (2.46 vs 1.99), 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.