CVY vs VOO
Invesco Zacks Multi-Asset Income ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | CVY | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 1.21% | 0.03% | |
| AUM | $125M | $997.4B | |
| Dividend Yield | 4.10% | 1.08% | |
| Holdings | 151 | 509 | |
| YTD Return | +14.81% | +12.25% | |
| 1Y Return | +19.56% | +20.92% | |
| 3Y Return (annualized) | +15.15% | +21.79% | |
| 5Y Return (annualized) | +9.39% | +13.05% | |
| Volatility (annualized) | 18.5% | 14.1% | |
| Max Drawdown | -70.5% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | Sep 21, 2006 | Sep 7, 2010 |
CVY vs VOO Performance
Invesco Zacks Multi-Asset Income ETF (CVY) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year CVY returned +19.56% while VOO returned +20.92%. Year to date, CVY is up 14.81% versus a gain of 12.25% for VOO.
Over three years, CVY compounded at +15.15% per year against +21.79% for VOO; over five years the annualized figures are +9.39% and +13.05% respectively. Across the full 16-year window we track, VOO has the edge at +13.45% annualized vs +2.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CVY has been the more volatile fund, with annualized monthly volatility of 18.5% compared with 14.1% for VOO. 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 -70.5% for CVY and -34.3% for VOO. 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CVY charges 1.21% per year while VOO charges 0.03%. On a $10,000 position that is $121 vs $3 annually, a gap of $118 per year that compounds over a long holding period. On income, CVY currently yields 4.10% against 1.08% for VOO.
Holdings Overlap
CVY and VOO share 26 holdings out of 628 unique holdings combined, representing a 3.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, CVY or VOO?
CVY has an expense ratio of 1.21% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $118 per year of difference.
Which performed better, CVY or VOO?
Over the past year CVY returned +19.56% vs +20.92% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), CVY annualized +2.10% vs +13.45% for VOO. Past performance does not guarantee future results.
Which is riskier, CVY or VOO?
CVY has been the more volatile fund at 18.5% annualized versus 14.1% for VOO. Worst drawdown: CVY -70.5% vs VOO -34.3%.
Should I hold both CVY and VOO?
CVY and VOO have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between CVY and VOO?
CVY and VOO share 26 common holdings with a 3.0% weight overlap. Combined, they hold 628 unique securities.
Which pays a higher dividend, CVY or VOO?
CVY yields 4.10% while VOO yields 1.08%, so CVY currently pays the higher dividend yield.
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