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Upturn AI Summary
WEBs Defined Volatility SPY ETF(DVSP)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for DVSP
11/06/2026: DVSP (1-star) is currently NOT-A-BUY. Pass it for now.
DVSP is a niche, volatility-targeted ETF that tracks the Syntax Defined Volatility US Large Cap 500 Index, providing S&P 500 exposure through a combination of SPY, total return swaps, and cash. Its core strength lies in its automated strategy to maintain a 20% annual volatility target, serving investors who wish to dampen risk without leaving the equity market. However, it carries significant risks including a high 0.89% expense ratio, limited liquidity, and potential underperformance relative to traditional index funds during certain market regimes. It is best suited for sophisticated investors looking to manage portfolio volatility systematically rather than those seeking low-cost, long-term index accumulation.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | The volatility management may dampen gains during strong, sustained bull markets. |
| Momentum investor | Strong fit while signal remains positive | The fund's dynamic leverage adjustment can benefit momentum-driven volatility trends. |
| Value investor | Weak fit | The fund's active/derivative approach carries higher fees that may not align with value-focused, low-cost philosophies. |
| Dividend/Income investor | Weak fit | The fund is designed for volatility management, not income generation or dividend yield. |
| Low-risk investor | Mixed fit | While it targets volatility, the use of leverage and derivatives introduces complexities that may exceed a traditional low-risk mandate. |
Investor Profile
Ideal Investor Profile
Sophisticated retail or institutional investors who want S&P 500 exposure but require a systematic, rules-based method to manage volatility to a specific 20% target.
Suitability
Best for investors who understand the role of derivatives in portfolio management and have a specific view on the benefit of volatility targeting versus standard buy-and-hold strategies.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Medium / high | The fund is specifically designed to manage volatility, which creates its own performance profile and risk. |
| Market risk | High | It maintains significant exposure to the S&P 500, subjecting it to broad equity market downturns. |
| Concentration | Medium | The strategy relies on tracking a single benchmark and utilizing specific derivative instruments. |
| Tracking/expense | High | The 0.89% expense ratio and derivative costs create a significant hurdle compared to standard index funds. |
| Liquidity | High | Low trading volume can make it difficult to enter or exit positions without impacting the price. |
| Business/sector quality | Medium | Performance is highly dependent on the quality of the index's volatility-targeting algorithm. |
Risk Analysis
Volatility
DVSP exhibits volatility characteristics tied to its 20% target; in low-volatility environments, it may hold cash, while in high-volatility environments, it may adjust its derivative exposure.
Market Risk
As it tracks the S&P 500, it carries the same systematic market risks as any major equity index, compounded by the complexities of derivative-based leverage management.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Single stock | SPDR S&P 500 ETF (SPY) - core long/derivative exposure | 100 | The fund provides dynamic exposure to the S&P 500, adjusting its leverage to target a 20% annual volatility rate. |
Analysis of Past Performance
Type ETF | Historic Profit 16.73% | Avg. Invested days 50 | Today’s Advisory PASS |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 11/06/2026 |
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