CVRT vs IVV
Calamos Convertible Equity Alternative ETF vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. CVRT delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | CVRT | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.03% | |
| AUM | $31M | $865.2B | |
| Dividend Yield | 1.05% | 1.09% | |
| Holdings | 92 | 508 | |
| YTD Return | +24.10% | +13.80% | |
| 1Y Return | +47.39% | +23.01% | |
| 3Y Return (annualized) | - | +21.77% | |
| 5Y Return (annualized) | - | +13.39% | |
| Volatility (annualized) | 19.0% | 15.1% | |
| Max Drawdown | -20.9% | -56.5% | |
| Fund Family | Calamos Asset Management | iShares by BlackRock (US) | |
| Category | Convertible | Equity | |
| Inception | Oct 4, 2023 | May 15, 2000 |
CVRT vs IVV Performance
Calamos Convertible Equity Alternative ETF (CVRT) is a ETF from Calamos Asset Management and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year CVRT returned +47.39% while IVV returned +23.01%. Year to date, CVRT is up 24.10% versus a gain of 13.80% for IVV.
Risk: Volatility and Drawdowns
CVRT has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 15.1% for IVV. 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 -20.9% for CVRT 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 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVRT charges 0.69% per year while IVV charges 0.03%. On a $10,000 position that is $69 vs $3 annually, a gap of $66 per year that compounds over a long holding period. On income, CVRT currently yields 1.05% against 1.09% for IVV.
Holdings Overlap
CVRT and IVV share 20 holdings out of 573 unique holdings combined, representing a 4.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVRT or IVV?
CVRT has an expense ratio of 0.69% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, CVRT or IVV?
Over the past year CVRT returned +47.39% vs +23.01% for IVV, so CVRT leads on 1-year performance. Over the longest common window we track (3 years), CVRT annualized +28.97% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, CVRT or IVV?
CVRT has been the more volatile fund at 19.0% annualized versus 15.1% for IVV. Worst drawdown: CVRT -20.9% vs IVV -56.5%.
Should I hold both CVRT and IVV?
CVRT and IVV have a monthly-return correlation of 0.80, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVRT and IVV?
CVRT and IVV share 20 common holdings with a 4.3% weight overlap. Combined, they hold 573 unique securities.
Which pays a higher dividend, CVRT or IVV?
CVRT yields 1.05% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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