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APLD vs. CVD.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

APLD vs. CVD.TO

Last updated Jun 13, 2026

APLD (Applied Digital Corporation) is a stock, while CVD.TO (iShares Convertible Bond Index ETF) is High Yield Bonds fund tracking the FTSE Canada Convertible Bond Index. Over the past 10 years, APLD returned 125.13%/yr vs 3.68%/yr for CVD.TO. At a 0.06 correlation, their price movements are largely independent.

Performance

APLD vs. CVD.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Digital Corporation (APLD) and iShares Convertible Bond Index ETF (CVD.TO). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

APLD is traded in USD, while CVD.TO is traded in CAD. To make them comparable, the CVD.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, APLD achieves a 74.14% return, which is significantly higher than CVD.TO's 1.91% return. Over the past 10 years, APLD has outperformed CVD.TO with an annualized return of 125.13%, while CVD.TO has yielded a comparatively lower 3.68% annualized return.

APLD

1D
2.97%
1M
0.33%
YTD
74.14%
6M
53.27%
1Y
281.93%
3Y*
69.23%
5Y*
112.30%
10Y*
125.13%

CVD.TO

1D
-0.62%
1M
-0.61%
YTD
1.91%
6M
-0.80%
1Y
4.81%
3Y*
6.52%
5Y*
1.48%
10Y*
3.68%
*Multi-year figures are annualized to reflect compound growth (CAGR)

APLD vs. CVD.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
APLD
Applied Digital Corporation		74.14%220.94%13.35%266.30%-56.09%11,789.90%389.44%-34.55%64.99%-33.33%
CVD.TO
iShares Convertible Bond Index ETF		1.91%12.22%3.88%6.17%-10.31%5.38%6.19%15.02%-10.23%11.62%

Correlation

The correlation between APLD and CVD.TO is 0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.04

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.06

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2011

0.06

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Applied Digital Corporation

iShares Convertible Bond Index ETF

Often compared with APLD:
APLD vs. NBISAPLD vs. SMCIAPLD vs. CORZAPLD vs. ALABAPLD vs. BTC-USDAPLD vs. MSFTAPLD vs. CRWV
Often compared with CVD.TO:
CVD.TO vs. ZWC.TOCVD.TO vs. ICVTCVD.TO vs. XHY.TOCVD.TO vs. CGHY.TOCVD.TO vs. XHB.TOCVD.TO vs. ZHY.TOCVD.TO vs. XSB.TO

Return for Risk

APLD vs. CVD.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
APLD
APLD Risk / Return Rank: 9090
Overall Rank
APLD Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
APLD Sortino Ratio Rank: 8989
Sortino Ratio Rank
APLD Omega Ratio Rank: 8585
Omega Ratio Rank
APLD Calmar Ratio Rank: 9292
Calmar Ratio Rank
APLD Martin Ratio Rank: 9191
Martin Ratio Rank
CVD.TO
CVD.TO Risk / Return Rank: 3535
Overall Rank
CVD.TO Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
CVD.TO Sortino Ratio Rank: 2929
Sortino Ratio Rank
CVD.TO Omega Ratio Rank: 3535
Omega Ratio Rank
CVD.TO Calmar Ratio Rank: 4242
Calmar Ratio Rank
CVD.TO Martin Ratio Rank: 3838
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APLD vs. CVD.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Digital Corporation (APLD) and iShares Convertible Bond Index ETF (CVD.TO). 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.

APLDCVD.TODifference
Sharpe ratioReturn per unit of total volatility
2.27
0.58

+1.69

Sortino ratioReturn per unit of downside risk
2.92
0.84

+2.08

Omega ratioGain probability vs. loss probability

1.33

1.11

+0.22

Calmar ratioReturn relative to maximum drawdown

4.83

1.24

+3.58

Martin ratioReturn relative to average drawdown

11.72

2.65

+9.06

APLD vs. CVD.TO - Sharpe Ratio Comparison

The current APLD Sharpe Ratio is 2.27, which is higher than the CVD.TO Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of APLD and CVD.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

APLD vs. CVD.TO - Drawdown Comparison

The maximum APLD drawdown since its inception was -99.73%, which is greater than CVD.TO's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for APLD and CVD.TO.

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Drawdown Indicators

APLDCVD.TODifference

Max Drawdown

Largest peak-to-trough decline

-99.73%

-34.37%

-65.36%

Max Drawdown (1Y)

Largest decline over 1 year

-50.31%

-4.02%

-46.29%

Max Drawdown (3Y)

Largest decline over 3 years

-76.66%

-14.52%

-62.14%

Max Drawdown (5Y)

Largest decline over 5 years

-82.61%

-22.91%

-59.70%

Max Drawdown (10Y)

Largest decline over 10 years

-89.80%

-30.24%

-59.56%

Current Drawdown

Current decline from peak

-14.00%

-3.39%

-10.61%

Average Drawdown

Average peak-to-trough decline

-74.86%

-9.33%

-65.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

21.22%

1.88%

+19.34%

Volatility

APLD vs. CVD.TO - Volatility Comparison

Applied Digital Corporation (APLD) has a higher volatility of 33.15% compared to iShares Convertible Bond Index ETF (CVD.TO) at 1.80%. This indicates that APLD's price experiences larger fluctuations and is considered to be riskier than CVD.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

APLDCVD.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

33.15%

1.80%

+31.35%

Volatility (6M)

Calculated over the trailing 6-month period

80.49%

6.69%

+73.80%

Volatility (1Y)

Calculated over the trailing 1-year period

107.13%

8.63%

+98.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

165.20%

11.38%

+153.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

301.46%

11.79%

+289.67%

Dividends

APLD vs. CVD.TO - Dividend Comparison

APLD has not paid dividends to shareholders, while CVD.TO's dividend yield for the trailing twelve months is around 4.91%.

PositionTTM20252024202320222021202020192018201720162015
APLD
Applied Digital Corporation		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
CVD.TO
iShares Convertible Bond Index ETF		4.91%4.91%5.14%5.33%5.05%4.61%4.48%4.52%4.97%4.65%4.51%4.94%

Frequently Asked Questions

APLD and CVD.TO have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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