AAAA vs. CVY

Last updated Aug 6, 2026

AAAA (Amplius Aggressive Asset Allocation ETF) and CVY (Invesco Zacks Multi-Asset Income ETF) are both Diversified Portfolio funds. AAAA is actively managed, while CVY is passively managed. Over the past year, AAAA returned 23.21% vs 22.03% for CVY. Their 0.52 correlation means they have sometimes moved together and sometimes differently. AAAA charges 0.49%/yr vs 1.21%/yr for CVY.

Performance

AAAA vs. CVY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplius Aggressive Asset Allocation ETF (AAAA) and Invesco Zacks Multi-Asset Income ETF (CVY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAAA achieves a 13.31% return, which is significantly lower than CVY's 16.32% return.

AAAA

• 1D: -0.20%
• 1M: 1.13%
• 6M: 11.37%
• YTD: 13.31%
• 1Y: 23.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 23.36%

CVY

• 1D: -0.16%
• 1M: 3.34%
• 6M: 9.40%
• YTD: 16.32%
• 1Y: 22.03%
• 3Y*: 15.04%
• 5Y*: 9.34%
• 10Y*: 8.88%
• ALL TIME*: 6.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAA Amplius Aggressive Asset Allocation ETF	$338.29K	$277.48K	$186.80K
CVY Invesco Zacks Multi-Asset Income ETF	$90.97K	$91.55K	$113.66K

AAAA vs. CVY - Yearly Performance Comparison

	2026 (YTD)	2025
AAAA Amplius Aggressive Asset Allocation ETF	13.31%	10.11%
CVY Invesco Zacks Multi-Asset Income ETF	16.32%	5.40%

Correlation

The correlation between AAAA and CVY is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.52
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.52

The correlation between AAAA and CVY has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.

Return for Risk

AAAA vs. CVY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AAAA

AAAA Risk / Return Rank: 76
AAAA Sharpe Ratio Rank: 76
AAAA Sortino Ratio Rank: 75
AAAA Omega Ratio Rank: 75
AAAA Calmar Ratio Rank: 74
AAAA Martin Ratio Rank: 82

CVY

CVY Risk / Return Rank: 77
CVY Sharpe Ratio Rank: 80
CVY Sortino Ratio Rank: 82
CVY Omega Ratio Rank: 78
CVY Calmar Ratio Rank: 75
CVY Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AAAA vs. CVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplius Aggressive Asset Allocation ETF (AAAA) and Invesco Zacks Multi-Asset Income ETF (CVY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAAA	CVY	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.06	-0.11
Sortino ratio: Return per unit of downside risk	2.75	2.96	-0.21
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.01
Calmar ratio: Return relative to maximum drawdown	2.98	2.98	0.00
Martin ratio: Return relative to average drawdown	12.35	10.22	+2.13

AAAA vs. CVY - Sharpe Ratio Comparison

The current AAAA Sharpe Ratio is 1.95, which is comparable to the CVY Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of AAAA and CVY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAAA vs. CVY - Drawdown Comparison

The maximum AAAA drawdown since its inception was -7.83%, smaller than the maximum CVY drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for AAAA and CVY.

Drawdown Indicators

	AAAA	CVY	Difference
Max Drawdown Largest peak-to-trough decline	-7.83%	-66.86%	+59.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-7.43%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.47%	—
Current Drawdown Current decline from peak	-0.20%	-0.28%	+0.08%
Average Drawdown Average peak-to-trough decline	-1.14%	-10.32%	+9.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.16%	-0.28%

Volatility

AAAA vs. CVY - Volatility Comparison

Amplius Aggressive Asset Allocation ETF (AAAA) has a higher volatility of 3.68% compared to Invesco Zacks Multi-Asset Income ETF (CVY) at 2.85%. This indicates that AAAA's price experiences larger fluctuations and is considered to be riskier than CVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAAA	CVY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	2.85%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	7.80%	+2.18%
Volatility (1Y) Calculated over the trailing 1-year period	11.97%	10.74%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.85%	16.04%	-4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.85%	19.46%	-7.61%

AAAA vs. CVY - Expense Ratio Comparison

AAAA has a 0.49% expense ratio, which is lower than CVY's 1.21% expense ratio.

Dividends

AAAA vs. CVY - Dividend Comparison

AAAA's dividend yield for the trailing twelve months is around 1.26%, less than CVY's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAA Amplius Aggressive Asset Allocation ETF	1.26%	0.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CVY Invesco Zacks Multi-Asset Income ETF	4.09%	3.99%	4.07%	4.41%	5.18%	2.37%	3.40%	3.22%	4.44%	3.94%	4.50%	5.89%

Frequently Asked Questions

Can I hold both AAAA and CVY in my portfolio?

AAAA and CVY have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAAA or CVY?

AAAA has higher volatility (3.68%) compared to CVY (2.85%). In terms of maximum drawdown, AAAA dropped -7.83% vs CVY's -66.86%.

Which ETF is better, AAAA or CVY?

On 1-year performance, AAAA leads with 23.21% vs 22.03% for CVY. On fees, AAAA is cheaper at 0.49% per year. On volatility, CVY has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAAA or CVY?

Over the 1-year period, AAAA has performed better with a 23.21% return vs 22.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAAA or CVY?

AAAA is cheaper with a 0.49% expense ratio, compared with 1.21% for CVY.

Which ETF pays a higher dividend yield, AAAA or CVY?

CVY has the higher dividend yield at 4.09%, compared with 1.26% for AAAA.

What is the main difference between AAAA and CVY?

They also come from different issuers: Amplius and Invesco. Their fees differ too: 0.49% for AAAA and 1.21% for CVY.

Which has better risk-adjusted returns?

CVY currently has the higher Sharpe Ratio (2.06 vs 1.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.