COWS vs. CVAR

Last updated Jun 4, 2026

COWS (Amplify Cash Flow Dividend Leaders ETF) and CVAR (Cultivar ETF) are both Mid Cap Value Equities funds. COWS is passively managed, while CVAR is actively managed. Over the past year, COWS returned 30.18% vs 11.92% for CVAR. A 0.79 correlation means they provide meaningful diversification when combined. COWS charges 0.00%/yr vs 0.87%/yr for CVAR.

Performance

COWS vs. CVAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow Dividend Leaders ETF (COWS) and Cultivar ETF (CVAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COWS achieves a 9.22% return, which is significantly higher than CVAR's 0.62% return.

COWS

• 1D: -0.63%
• 1M: 5.01%
• YTD: 9.22%
• 6M: 9.70%
• 1Y: 30.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVAR

• 1D: -0.80%
• 1M: -0.06%
• YTD: 0.62%
• 6M: 2.14%
• 1Y: 11.92%
• 3Y*: 8.39%
• 5Y*: —
• 10Y*: —

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

COWS vs. CVAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COWS Amplify Cash Flow Dividend Leaders ETF	9.22%	15.29%	11.08%	9.28%
CVAR Cultivar ETF	0.62%	14.95%	3.12%	8.03%

Correlation

The correlation between COWS and CVAR is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.79

The correlation between COWS and CVAR has been stable across timeframes, ranging from 0.75 to 0.79 - a consistent structural relationship.

Return for Risk

COWS vs. CVAR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COWS

COWS Risk / Return Rank: 65
COWS Sharpe Ratio Rank: 55
COWS Sortino Ratio Rank: 57
COWS Omega Ratio Rank: 53
COWS Calmar Ratio Rank: 85
COWS Martin Ratio Rank: 75

CVAR

CVAR Risk / Return Rank: 29
CVAR Sharpe Ratio Rank: 30
CVAR Sortino Ratio Rank: 30
CVAR Omega Ratio Rank: 28
CVAR Calmar Ratio Rank: 29
CVAR Martin Ratio Rank: 26

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.

COWS vs. CVAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow Dividend Leaders ETF (COWS) and Cultivar ETF (CVAR). 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.

	COWS	CVAR	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.05	+0.83
Sortino ratio: Return per unit of downside risk	2.76	1.57	+1.19
Omega ratio: Gain probability vs. loss probability	1.33	1.18	+0.15
Calmar ratio: Return relative to maximum drawdown	4.71	1.42	+3.29
Martin ratio: Return relative to average drawdown	14.35	3.45	+10.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COWS vs. CVAR - Sharpe Ratio Comparison

The current COWS Sharpe Ratio is 1.88, which is higher than the CVAR Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of COWS and CVAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COWS	CVAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.05	+0.83
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.37	+0.54

Drawdowns

COWS vs. CVAR - Drawdown Comparison

The maximum COWS drawdown since its inception was -24.76%, which is greater than CVAR's maximum drawdown of -19.39%. Use the drawdown chart below to compare losses from any high point for COWS and CVAR.

Drawdown Indicators

	COWS	CVAR	Difference
Max Drawdown Largest peak-to-trough decline	-24.76%	-19.39%	-5.37%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-8.45%	+2.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.58%	—
Current Drawdown Current decline from peak	-0.90%	-6.22%	+5.32%
Average Drawdown Average peak-to-trough decline	-3.95%	-5.51%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	3.46%	-1.35%

Volatility

COWS vs. CVAR - Volatility Comparison

Amplify Cash Flow Dividend Leaders ETF (COWS) has a higher volatility of 4.58% compared to Cultivar ETF (CVAR) at 2.24%. This indicates that COWS's price experiences larger fluctuations and is considered to be riskier than CVAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWS	CVAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.58%	2.24%	+2.34%
Volatility (6M) Calculated over the trailing 6-month period	10.09%	7.48%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	11.43%	+4.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.85%	15.47%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.85%	15.47%	+3.38%

COWS vs. CVAR - Expense Ratio Comparison

COWS has a 0.00% expense ratio, which is lower than CVAR's 0.87% expense ratio.

Dividends

COWS vs. CVAR - Dividend Comparison

COWS's dividend yield for the trailing twelve months is around 1.60%, more than CVAR's 1.52% yield.

Position	TTM	2025	2024	2023	2022
COWS Amplify Cash Flow Dividend Leaders ETF	1.60%	2.04%	2.08%	0.67%	0.00%
CVAR Cultivar ETF	1.52%	1.53%	3.57%	1.41%	5.52%

Frequently Asked Questions

Can I hold both COWS and CVAR in my portfolio?

COWS and CVAR have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COWS or CVAR?

COWS has higher volatility (4.58%) compared to CVAR (2.24%). In terms of maximum drawdown, COWS dropped -24.76% vs CVAR's -19.39%.

Which ETF is better, COWS or CVAR?

On 1-year performance, COWS leads with 30.18% vs 11.92% for CVAR. On fees, COWS is cheaper at 0.00% per year. On volatility, CVAR has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWS or CVAR?

Over the 1-year period, COWS has performed better with a 30.18% return vs 11.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWS or CVAR?

COWS is cheaper with a 0.00% expense ratio, compared with 0.87% for CVAR.

Which ETF pays a higher dividend yield, COWS or CVAR?

COWS has the higher dividend yield at 1.60%, compared with 1.52% for CVAR.

What is the main difference between COWS and CVAR?

They also come from different issuers: Amplify and Cultivar. Their fees differ too: 0.00% for COWS and 0.87% for CVAR.

Which has better risk-adjusted returns?

COWS currently has the higher Sharpe Ratio (1.88 vs 1.05), 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.