CVRT vs IVV
Calamos Convertible Equity Alternative ETF vs iShares Core S&P 500 ETF
Which is better, CVRT or IVV?
Convertibles against Large Cap Blend.
IVV has a lower expense ratio. CVRT led over 1Y, 3Y and the full window.
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 | CVRT | IVV |
|---|---|---|
| Expense Ratio | 0.69% | 0.03%Best |
| AUM | $43M | $886.7B |
| Dividend Yield | 1.59% | 1.10% |
| Holdings | 105 | 508 |
| YTD Return | +22.00%Best | +13.39% |
| 1Y Return | +40.53%Best | +20.08% |
| 3Y Return (annualized) | +27.46%Best | +21.29% |
| 5Y Return (annualized) | - | +12.88% |
| Volatility (annualized) | 18.8% | 12.4%Best |
| Max Drawdown | -20.9% | -18.8%Best |
| $10,000 over 2.9 years | $20,211Best | $18,726 |
| Fund Family | Calamos Asset Management | iShares by BlackRock (US) |
| Category | Convertible | Equity |
| Style | Convertibles | Large Cap Blend |
| Inception | Oct 4, 2023 | May 15, 2000 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.9 years row, are measured over the window both funds cover: Oct 4, 2023 to Sep 4, 2026 (2.9 years).
CVRT vs IVV 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 2.9 years both funds cover.
CVRT vs IVV Performance
Calamos Convertible Equity Alternative ETF (CVRT) is an ETF from Calamos Asset Management and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year CVRT returned +40.53% while IVV returned +20.08%. Year to date, CVRT is up 22.00% versus a gain of 13.39% for IVV.
Over three years, CVRT compounded at +27.46% per year against +21.29% for IVV.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVRT has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 12.4% 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 -18.8% for IVV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 1.59% against 1.10% for IVV.
Holdings Overlap
At least 4.3% of IVV's money is in holdings CVRT also owns.
Stated as a floor: for CVRT, our book for it covers 84.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
IVV and CVRT share little of their money.
20 positions in common, counted across the 88 positions we hold weights for in CVRT and 504 in IVV, against full books of 105 and 508.
Top Shared Holdings
| Stock | Weight in CVRT | Weight in IVV | Difference |
|---|---|---|---|
| GOOGAlphabet, Inc., Class C | 5.08% | 2.56% | 2.52% |
| LITELumentum Holdings Inc | 3.31% | 0.10% | 3.21% |
| ORCLOracle Corp. | 2.56% | 0.37% | 2.19% |
| SMCISuper Micro Computer Inc | 2.10% | 0.03% | 2.07% |
| NEENextera Energy Inc | 1.29% | 0.27% | 1.02% |
| WELLWelltower, Inc. | 1.30% | 0.25% | 1.05% |
| AKAMAkamai Technologies Inc. | 1.44% | 0.03% | 1.41% |
| ALBAlbemarle Corp. | 1.44% | 0.02% | 1.42% |
| MCHPMicrochip Technology Inc. | 1.32% | 0.06% | 1.26% |
| KKRKkr & Co., Inc., Series A, Pfd. | 1.17% | 0.11% | 1.06% |
You are not choosing between two funds in isolation.
Whichever of CVRT and IVV 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, CVRT or IVV?
CVRT has an expense ratio of 0.69% while IVV charges 0.03%. IVV is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, CVRT or IVV?
Over the past year CVRT returned +40.53% vs +20.08% for IVV, so CVRT leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CVRT or IVV?
CVRT has been the more volatile fund at 18.8% annualized versus 12.4% for IVV. Worst drawdown: CVRT -20.9% vs IVV -18.8%.
Should I hold both CVRT and IVV?
CVRT and IVV have a monthly-return correlation of 0.80, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CVRT and IVV?
At least 4.3% of IVV's money is in holdings CVRT also owns. Our book for CVRT is partial, so the real figure is this or higher. They hold 20 positions in common, counted across the 88 positions we hold weights for in CVRT and 504 in IVV.
Which pays a higher dividend, CVRT or IVV?
CVRT yields 1.59% while IVV yields 1.10%, so CVRT currently pays the higher dividend yield.
Is IVV better than CVRT?
IVV has a lower expense ratio. CVRT led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.