TCV vs ZAP
Towle Small-Cap Value ETF vs Global X US Electrification ETF
Which is better, TCV or ZAP?
TCV has been ahead.
ZAP has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% of the fund in its ten largest positions against 44.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | TCV | ZAP |
|---|---|---|
| Expense Ratio | 0.85% | 0.50%Best |
| AUM | $202M | $440M |
| Dividend Yield | 0.59% | 1.74% |
| Holdings | 105 | 94 |
| YTD Return | +23.99%Best | +6.45% |
| 1Y Return | +27.95%Best | +2.72% |
| Volatility (annualized) | 16.4%Best | 17.0% |
| Max Drawdown | -12.2%Best | -13.0% |
| $10,000 over 1.2 years | $12,949Best | $11,683 |
| Top 10 Weight | 27.7%Best | 44.2% |
| Fund Family | Towle | Global X by mirae Asset |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Jul 16, 2025 | Dec 17, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.2 years row, are measured over the window both funds cover: Jul 17, 2025 to Oct 14, 2026 (1.2 years).
TCV vs ZAP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.2 years both funds cover.
TCV vs ZAP Performance
Towle Small-Cap Value ETF (TCV) is an ETF from Towle and Global X US Electrification ETF (ZAP) is an ETF from Global X by mirae Asset. Over the past year TCV returned +27.95% while ZAP returned +2.72%. Year to date, TCV is up 23.99% versus a gain of 6.45% for ZAP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ZAP has been the more volatile fund, with annualized monthly volatility of 17.0% compared with 16.4% for TCV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -12.2% for TCV and -13.0% for ZAP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.48. They move together some of the time, and apart the rest.
Fees and Cost Over Time
TCV charges 0.85% per year while ZAP charges 0.50%. On a $10,000 position that is $85 vs $50 annually, a gap of $35 per year that compounds over a long holding period. On income, TCV currently yields 0.59% against 1.74% for ZAP.
Holdings Overlap
We hold position weights for 51 holdings in TCV and 45 in ZAP, totalling 100.0% and 100.4% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 51 positions we hold weights for in TCV and 45 in ZAP, against full books of 105 and 94.
What only one of them owns
Our book lists 44 positions for ZAP that do not appear in our book for TCV (98.8% of the fund), and 49 for TCV that do not appear in ZAP (96.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of TCV and ZAP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, TCV or ZAP?
TCV has an expense ratio of 0.85% while ZAP charges 0.50%. ZAP is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, TCV or ZAP?
Over the past year TCV returned +27.95% vs +2.72% for ZAP, so TCV leads on 1-year performance. Over the longest common window we track (1 years), TCV annualized +24.03% vs +13.84% for ZAP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, TCV or ZAP?
ZAP has been the more volatile fund at 17.0% annualized versus 16.4% for TCV. Worst drawdown: TCV -12.2% vs ZAP -13.0%.
Should I hold both TCV and ZAP?
TCV and ZAP have a monthly-return correlation of 0.48, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, TCV or ZAP?
TCV yields 0.59% while ZAP yields 1.74%, so ZAP currently pays the higher dividend yield.
Is ZAP better than TCV?
ZAP has a lower expense ratio. TCV led over 1Y and the full window. TCV is less concentrated, with 27.7% of the fund in its ten largest positions against 44.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.