Value Line Versus the Russell 2000 (FVL, IWM, PIV)

PowerShares launched its new Value Line ETF yesterday (ticker: PIV); but as Eddie Elfenbein and others have pointed out, a closed-end fund that tracks Value Line's stock picks -- the First Trust Value Line 100 Fund (ticker: FVL) -- already exists.

Here's a chart comparing FVL to the Russell 2000 index, which you can buy with the ETF IWM (click to enlarge). The green line is the Value Line closed-end fund; the orange line the Russell 2000 index.