First Trust Dorsey Wright Momentum & Low… (DVOL) Performance
DVOL total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.1% since Dec 31, 2025
- 1 year
- +3.9% total return
- 5 years
- +5.1% a year
- Since first price
- +8.6% a year since 2018
DVOL trailing returns vs SPY, QQQ, AGG
| Period | DVOL total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.2% | +1.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.1% | −4.3% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.4% | −1.9% | +7.8% | +8.4% | −1.5% |
| YTD | +3.1% | +2.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +3.9% | +3.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +49.9%+14.4%/yr | +46.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +28.0%+5.1%/yr | +21.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 7, 2018 | +95.0%+8.6%/yr | +79.3% | — | — | — |
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: DVOL vs SPY
From Sep 7, 2018: DVOL grew to $19,496, SPY to $29,920.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DVOL returns by calendar year
6 of 7 full years positive. Best 2021 (+30.1%), worst 2022 (−16.1%). 2026 is year to date.
DVOL annual returns table
| Year | DVOL | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.1% | −9.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +4.3% | −11.5% | +17.7% | +20.8% | +7.2% |
| 2024 | +24.8% | −7.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.4% | −7.9% | +26.2% | +54.9% | +5.7% |
| 2022 | −16.1% | −23.0% | −18.2% | −32.6% | −13.0% |
| 2021 | +30.1% | −8.1% | +28.7% | +27.4% | −1.8% |
| 2020 | +11.1% | −38.3% | +18.3% | +48.6% | +7.5% |
| 2019 | +26.1% | −5.4% | +31.2% | +39.0% | +8.5% |
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.
DVOL largest drawdowns
Now 5.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 18, 2020 | −38.3% | Mar 23, 2020 | Dec 16, 2020 | 34 days | 10 months |
| Dec 31, 2021 | −24.6% | Jun 17, 2022 | Jul 12, 2024 | 6 months | 2.5 years |
| Sep 14, 2018 | −13.9% | Dec 24, 2018 | Mar 5, 2019 | 3 months | 6 months |
| Nov 29, 2024 | −11.7% | Apr 8, 2025 | Jan 15, 2026 | 4 months | 1.1 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DVOL risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +13.0% | +6.0% | +8.4% |
| Volatility (annualized) | 12.5% | 15.1% | 16.1% |
| Sharpe ratio | 0.70 | 0.23 | 0.42 |
| Sortino ratio | 1.12 | 0.34 | 0.61 |
| Best month | +7.8% | +8.9% | +8.9% |
| Worst month | −6.8% | −11.3% | −15.2% |
| Best 12 months | +37.1% | +37.1% | +38.6% |
| Worst 12 months | −2.5% | −16.1% | −16.1% |
| Positive months | 64% | 53% | 59% |
| Beta vs S&P 500 | 0.59 | 0.72 | — |
| Correlation with S&P 500 | 0.59 | 0.75 | — |
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.
DVOL rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 86 | −16.1% | +7.4% | +38.6% | 74% |
| 3-year (a year) | 62 | +2.7% | +9.4% | +22.2% | 100% |
| 5-year (a year) | 38 | +4.8% | +9.1% | +15.7% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
DVOL performance overview
First Trust Dorsey Wright Momentum & Low… (DVOL) returned +3.9% over the past year and +5.1% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +8.6% a year, turning $10,000 into about $19,496. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −38.3%, from Feb 18, 2020 to Mar 23, 2020, and it took 9 months to get back to the old high. DVOL finished 6 of its 7 full calendar years with a gain; the best year was 2021 (+30.1%) and the worst 2022 (−16.1%). Volatility has been 16.1% a year.
Related: DVOL chart, DVOL holdings, DVOL dividends, DVOL valuation. See the DVOL overview for the latest quote and fund facts.
DVOL performance FAQ
What is the DVOL return over the past year?
DVOL returned +3.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.1%.
What is the average annual return of DVOL?
DVOL has returned +5.1% a year over 5 years, +8.6% a year since September 7, 2018 (total return, distributions reinvested).
How much would $10,000 invested in DVOL be worth?
$10,000 invested in DVOL at its first recorded close on September 7, 2018 would be worth about $19,496 on October 23, 2026 with distributions reinvested.
What was the worst year for DVOL?
The worst calendar year was 2022, with a total return of −16.1%. The best was 2021 at +30.1%.
What is the biggest drawdown of DVOL?
The largest peak-to-trough decline was −38.3% between February 18, 2020 and March 23, 2020. It recovered to the old high on December 16, 2020, 9 months after the bottom.
How volatile is DVOL?
Over the past 3 years DVOL had an annualized volatility of 12.5% and a Sharpe ratio of 0.70 (excess return over 1–3 month T-bills per unit of risk).