CVRD vs IVV
Madison Covered Call ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | CVRD | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.92% | 0.03% | |
| AUM | $32M | $907.0B | |
| Dividend Yield | 7.65% | 1.10% | |
| Holdings | 65 | 508 | |
| YTD Return | +5.83% | +13.22% | |
| 1Y Return | +8.00% | +21.62% | |
| 3Y Return (annualized) | +7.42% | +22.17% | |
| 5Y Return (annualized) | - | +13.42% | |
| Volatility (annualized) | 9.3% | 15.1% | |
| Max Drawdown | -17.9% | -56.5% | |
| Fund Family | Madison Funds | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Aug 21, 2023 | May 15, 2000 |
CVRD vs IVV Performance
Madison Covered Call ETF (CVRD) is a ETF from Madison Funds and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CVRD returned +8.00% while IVV returned +21.62%. Year to date, CVRD is up 5.83% versus a gain of 13.22% for IVV.
Over three years, CVRD compounded at +7.42% per year against +22.17% for IVV. Across the full 3-year window we track, CVRD has the edge at +7.42% annualized vs +7.02%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 9.3% for CVRD. 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 -17.9% for CVRD and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVRD charges 0.92% per year while IVV charges 0.03%. On a $10,000 position that is $92 vs $3 annually, a gap of $89 per year that compounds over a long holding period. On income, CVRD currently yields 7.65% against 1.10% for IVV.
Holdings Overlap
CVRD and IVV share 31 holdings out of 507 unique holdings combined, representing a 17.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVRD or IVV?
CVRD has an expense ratio of 0.92% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $89 per year of difference.
Which performed better, CVRD or IVV?
Over the past year CVRD returned +8.00% vs +21.62% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (3 years), CVRD annualized +7.42% vs +7.02% for IVV. Past performance does not guarantee future results.
Which is riskier, CVRD or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 9.3% for CVRD. Worst drawdown: CVRD -17.9% vs IVV -56.5%.
Should I hold both CVRD and IVV?
CVRD and IVV have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVRD and IVV?
CVRD and IVV share 31 common holdings with a 17.5% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, CVRD or IVV?
CVRD yields 7.65% while IVV yields 1.10%, so CVRD currently pays the higher dividend yield.
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