CVRT vs VYM
Calamos Convertible Equity Alternative ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. CVRT delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | CVRT | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.69% | 0.04% | |
| AUM | $31M | $79.0B | |
| Dividend Yield | 1.05% | 2.86% | |
| Holdings | 92 | 568 | |
| YTD Return | +24.10% | +16.10% | |
| 1Y Return | +47.39% | +25.99% | |
| 3Y Return (annualized) | - | +18.29% | |
| 5Y Return (annualized) | - | +12.35% | |
| Volatility (annualized) | 19.0% | 14.6% | |
| Max Drawdown | -20.9% | -58.8% | |
| Fund Family | Calamos Asset Management | Vanguard (US) | |
| Category | Convertible | Equity | |
| Inception | Oct 4, 2023 | Nov 10, 2006 |
CVRT vs VYM Performance
Calamos Convertible Equity Alternative ETF (CVRT) is a ETF from Calamos Asset Management and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year CVRT returned +47.39% while VYM returned +25.99%. Year to date, CVRT is up 24.10% versus a gain of 16.10% for VYM.
Risk: Volatility and Drawdowns
CVRT has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 14.6% for VYM. 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 -58.8% for VYM. 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 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
CVRT charges 0.69% per year while VYM charges 0.04%. On a $10,000 position that is $69 vs $4 annually, a gap of $65 per year that compounds over a long holding period. On income, CVRT currently yields 1.05% against 2.86% for VYM.
Holdings Overlap
CVRT and VYM share 16 holdings out of 630 unique holdings combined, representing a 2.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVRT or VYM?
CVRT has an expense ratio of 0.69% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, CVRT or VYM?
Over the past year CVRT returned +47.39% vs +25.99% for VYM, so CVRT leads on 1-year performance. Over the longest common window we track (3 years), CVRT annualized +28.97% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, CVRT or VYM?
CVRT has been the more volatile fund at 19.0% annualized versus 14.6% for VYM. Worst drawdown: CVRT -20.9% vs VYM -58.8%.
Should I hold both CVRT and VYM?
CVRT and VYM have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVRT and VYM?
CVRT and VYM share 16 common holdings with a 2.5% weight overlap. Combined, they hold 630 unique securities.
Which pays a higher dividend, CVRT or VYM?
CVRT yields 1.05% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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