VictoryShares US Large Cap High Div… (CDL) Performance
CDL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +19.4% since Dec 31, 2025
- 1 year
- +19.9% total return
- 5 years
- +9.9% a year
- 10 years
- +11.4% a year
- Since first price
- +11.2% a year since 2015
CDL trailing returns vs SPY, QQQ, AGG
| Period | CDL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +6.0% | +5.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.3% | +1.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +7.5% | +5.8% | +7.8% | +8.4% | −1.5% |
| YTD | +19.4% | +16.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +19.9% | +16.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +70.3%+19.4%/yr | +53.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +60.6%+9.9%/yr | +35.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +193.3%+11.4%/yr | +111.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionJul 8, 2015 | +232.9%+11.2%/yr | +130.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CDL vs SPY
From Jul 8, 2015: CDL grew to $33,288, SPY to $44,678.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CDL returns by calendar year
7 of 10 full years positive. Best 2021 (+33.4%), worst 2018 (−5.9%). 2026 is year to date.
CDL annual returns table
| Year | CDL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +19.4% | −7.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +9.0% | −12.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +15.6% | −8.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +3.0% | −14.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −0.5% | −17.3% | −18.2% | −32.6% | −13.0% |
| 2021 | +33.4% | −4.8% | +28.7% | +27.4% | −1.8% |
| 2020 | −3.4% | −41.0% | +18.3% | +48.6% | +7.5% |
| 2019 | +26.4% | −6.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −5.9% | −15.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +16.3% | −2.7% | +21.7% | +32.7% | +3.6% |
| 2016 | +20.5% | −6.0% | +12.0% | +7.1% | +2.4% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CDL largest drawdowns
Now 0.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 17, 2020 | −41.0% | Mar 23, 2020 | Jan 14, 2021 | 2 months | 12 months |
| Apr 20, 2022 | −17.3% | Oct 12, 2022 | Mar 20, 2024 | 6 months | 1.9 years |
| Sep 14, 2018 | −15.2% | Dec 24, 2018 | Apr 1, 2019 | 3 months | 7 months |
| Nov 29, 2024 | −12.9% | Apr 8, 2025 | Aug 13, 2025 | 4 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CDL risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2015 |
|---|---|---|---|---|
| Annualized return | +15.2% | +9.2% | +10.4% | +10.5% |
| Volatility (annualized) | 12.1% | 14.3% | 15.4% | 15.1% |
| Sharpe ratio | 0.87 | 0.44 | 0.57 | 0.60 |
| Sortino ratio | 1.43 | 0.66 | 0.83 | 0.89 |
| Best month | +7.0% | +9.8% | +13.4% | +13.4% |
| Worst month | −6.8% | −10.1% | −18.5% | −18.5% |
| Best 12 months | +32.7% | +32.7% | +61.1% | +61.1% |
| Worst 12 months | +2.7% | −11.1% | −20.8% | −20.8% |
| Positive months | 64% | 58% | 65% | 64% |
| Beta vs S&P 500 | 0.47 | 0.63 | 0.81 | — |
| Correlation with S&P 500 | 0.49 | 0.69 | 0.80 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CDL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 124 | −20.8% | +11.2% | +61.1% | 81% |
| 3-year (a year) | 100 | −2.5% | +10.9% | +21.7% | 99% |
| 5-year (a year) | 76 | +6.0% | +10.4% | +18.1% | 100% |
| 10-year (a year) | 16 | +10.2% | +11.0% | +11.9% | 100% |
Every holding period starting at a month-end since 2015. Returns for 3 years and longer are annualized.
CDL performance overview
VictoryShares US Large Cap High Div… (CDL) returned +19.9% over the past year and +11.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2015 it has returned +11.2% a year, turning $10,000 into about $33,288. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −41.0%, from Jan 17, 2020 to Mar 23, 2020, and it took 10 months to get back to the old high. CDL finished 7 of its 10 full calendar years with a gain; the best year was 2021 (+33.4%) and the worst 2018 (−5.9%). Volatility has been 15.1% a year.
Related: CDL chart, CDL holdings, CDL dividends, CDL valuation. See the CDL overview for the latest quote and fund facts.
CDL performance FAQ
What is the CDL return over the past year?
CDL returned +19.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 16.0%.
What is the average annual return of CDL?
CDL has returned +9.9% a year over 5 years, +11.4% a year over 10 years, +11.2% a year since July 8, 2015 (total return, distributions reinvested).
How much would $10,000 invested in CDL be worth?
$10,000 invested in CDL at its first recorded close on July 8, 2015 would be worth about $33,288 on October 23, 2026 with distributions reinvested.
What was the worst year for CDL?
The worst calendar year was 2018, with a total return of −5.9%. The best was 2021 at +33.4%.
What is the biggest drawdown of CDL?
The largest peak-to-trough decline was −41.0% between January 17, 2020 and March 23, 2020. It recovered to the old high on January 14, 2021, 10 months after the bottom.
How volatile is CDL?
Over the past 3 years CDL had an annualized volatility of 12.1% and a Sharpe ratio of 0.87 (excess return over 1–3 month T-bills per unit of risk).