AVMA vs. CVY
AVMA (Avantis Moderate Allocation ETF) and CVY (Invesco Zacks Multi-Asset Income ETF) are both Diversified Portfolio funds. AVMA is actively managed, while CVY is passively managed. Over the past 3 years, AVMA returned 14.03%/yr vs 14.62%/yr for CVY. Their 0.77 correlation means they have sometimes moved together and sometimes differently. AVMA charges 0.21%/yr vs 1.21%/yr for CVY.
Performance
AVMA vs. CVY - Performance Comparison
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Returns By Period
In the year-to-date period, AVMA achieves a 10.57% return, which is significantly lower than CVY's 15.51% return.
AVMA
- 1D
- 0.07%
- 1M
- 0.04%
- 6M
- 6.83%
- YTD
- 10.57%
- 1Y
- 20.31%
- 3Y*
- 14.03%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.97%
CVY
- 1D
- -0.27%
- 1M
- 3.22%
- 6M
- 10.58%
- YTD
- 15.51%
- 1Y
- 22.82%
- 3Y*
- 14.62%
- 5Y*
- 9.27%
- 10Y*
- 8.99%
- ALL TIME*
- 6.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $728.89K | $743.13K | $593.62K | |
| $104.32K | $103.88K | $109.40K |
AVMA vs. CVY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AVMA Avantis Moderate Allocation ETF | 10.57% | 16.72% | 10.01% | 8.36% |
CVY Invesco Zacks Multi-Asset Income ETF | 15.51% | 11.00% | 10.28% | 15.12% |
Correlation
The correlation between AVMA and CVY is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2023 | 0.77 |
The correlation between AVMA and CVY has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.
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Return for Risk
AVMA vs. CVY — Risk / Return Rank
AVMA
CVY
AVMA vs. CVY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Moderate Allocation ETF (AVMA) 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.
| AVMA | CVY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.35 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 2.92 | +0.16 |
| Martin ratioReturn relative to average drawdown | 12.79 | 10.01 | +2.77 |
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Drawdowns
AVMA vs. CVY - Drawdown Comparison
The maximum AVMA drawdown since its inception was -11.81%, smaller than the maximum CVY drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for AVMA and CVY.
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Drawdown Indicators
| AVMA | CVY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.81% | -66.86% | +55.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.40% | -7.43% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -11.81% | -16.79% | +4.98% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.58% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.47% | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.97% | +0.17% |
Average DrawdownAverage peak-to-trough decline | -1.52% | -10.33% | +8.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 2.16% | -0.62% |
Volatility
AVMA vs. CVY - Volatility Comparison
The current volatility for Avantis Moderate Allocation ETF (AVMA) is 2.43%, while Invesco Zacks Multi-Asset Income ETF (CVY) has a volatility of 3.00%. This indicates that AVMA experiences smaller price fluctuations and is considered to be less risky than CVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVMA | CVY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 3.00% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 7.79% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.47% | 10.82% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.28% | 16.06% | -5.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.28% | 19.46% | -9.18% |
AVMA vs. CVY - Expense Ratio Comparison
AVMA has a 0.21% expense ratio, which is lower than CVY's 1.21% expense ratio.
Dividends
AVMA vs. CVY - Dividend Comparison
AVMA's dividend yield for the trailing twelve months is around 2.02%, less than CVY's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVMA Avantis Moderate Allocation ETF | 2.02% | 2.21% | 2.28% | 1.11% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CVY Invesco Zacks Multi-Asset Income ETF | 4.11% | 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
AVMA and CVY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVY has higher volatility (3.00%) compared to AVMA (2.43%). In terms of maximum drawdown, AVMA dropped -11.81% vs CVY's -66.86%.
On 3-year performance, CVY leads with 14.62% vs 14.03% for AVMA. On fees, AVMA is cheaper at 0.21% per year. On volatility, AVMA has been the lower-risk option at 2.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CVY has performed better with a 14.62% return vs 14.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVMA is cheaper with a 0.21% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.11%, compared with 2.02% for AVMA.
They also come from different issuers: Avantis and Invesco. Their fees differ too: 0.21% for AVMA and 1.21% for CVY.
AVMA currently has the higher Sharpe Ratio (2.08 vs 2.01), 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.
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