CVE vs. AVUV

Last updated Jun 4, 2026

CVE (Cenovus Energy Inc.) is a stock, while AVUV (Avantis US Small Cap Value ETF) is Small Cap Value Equities fund actively managed by Avantis. Over the past 5 years, CVE returned 28.75%/yr vs 10.71%/yr for AVUV. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

CVE vs. AVUV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cenovus Energy Inc. (CVE) and Avantis US Small Cap Value ETF (AVUV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVE achieves a 75.32% return, which is significantly higher than AVUV's 17.96% return.

CVE

• 1D: 0.72%
• 1M: -1.67%
• YTD: 75.32%
• 6M: 64.14%
• 1Y: 124.58%
• 3Y*: 24.03%
• 5Y*: 28.75%
• 10Y*: 9.04%

AVUV

• 1D: -0.97%
• 1M: 1.21%
• YTD: 17.96%
• 6M: 17.23%
• 1Y: 36.48%
• 3Y*: 19.24%
• 5Y*: 10.71%
• 10Y*: —

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

CVE vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CVE Cenovus Energy Inc.	75.32%	15.84%	-5.83%	-12.30%	60.93%	104.72%	-39.59%	5.38%
AVUV Avantis US Small Cap Value ETF	17.96%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.50%

Correlation

The correlation between CVE and AVUV is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.54

Over the past year, the correlation between CVE and AVUV has dropped to 0.22 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

Return for Risk

CVE vs. AVUV — Risk / Return Rank

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

CVE

CVE Risk / Return Rank: 95
CVE Sharpe Ratio Rank: 96
CVE Sortino Ratio Rank: 95
CVE Omega Ratio Rank: 92
CVE Calmar Ratio Rank: 97
CVE Martin Ratio Rank: 97

AVUV

AVUV Risk / Return Rank: 67
AVUV Sharpe Ratio Rank: 61
AVUV Sortino Ratio Rank: 63
AVUV Omega Ratio Rank: 58
AVUV Calmar Ratio Rank: 84
AVUV Martin Ratio Rank: 72

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.

CVE vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cenovus Energy Inc. (CVE) and Avantis US Small Cap Value ETF (AVUV). 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.

	CVE	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	3.65	2.10	+1.55
Sortino ratio: Return per unit of downside risk	4.04	3.02	+1.03
Omega ratio: Gain probability vs. loss probability	1.49	1.36	+0.12
Calmar ratio: Return relative to maximum drawdown	9.13	4.61	+4.52
Martin ratio: Return relative to average drawdown	27.44	13.69	+13.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVE vs. AVUV - Sharpe Ratio Comparison

The current CVE Sharpe Ratio is 3.65, which is higher than the AVUV Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of CVE and AVUV, 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

	CVE	AVUV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.65	2.10	+1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.47	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.56	-0.48

Drawdowns

CVE vs. AVUV - Drawdown Comparison

The maximum CVE drawdown since its inception was -94.87%, which is greater than AVUV's maximum drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for CVE and AVUV.

Drawdown Indicators

	CVE	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-94.87%	-49.42%	-45.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.72%	-7.95%	-5.77%
Max Drawdown (3Y) Largest decline over 3 years	-49.57%	-28.79%	-20.78%
Max Drawdown (5Y) Largest decline over 5 years	-53.51%	-28.79%	-24.72%
Max Drawdown (10Y) Largest decline over 10 years	-89.35%	—	—
Current Drawdown Current decline from peak	-7.30%	-1.12%	-6.18%
Average Drawdown Average peak-to-trough decline	-44.18%	-7.95%	-36.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	2.67%	+1.90%

Volatility

CVE vs. AVUV - Volatility Comparison

Cenovus Energy Inc. (CVE) has a higher volatility of 11.27% compared to Avantis US Small Cap Value ETF (AVUV) at 4.08%. This indicates that CVE's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVE	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.27%	4.08%	+7.19%
Volatility (6M) Calculated over the trailing 6-month period	26.39%	11.34%	+15.05%
Volatility (1Y) Calculated over the trailing 1-year period	34.36%	17.54%	+16.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.16%	22.74%	+17.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.60%	28.30%	+22.30%

Dividends

CVE vs. AVUV - Dividend Comparison

CVE's dividend yield for the trailing twelve months is around 1.98%, more than AVUV's 1.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVUV Avantis US Small Cap Value ETF	1.29%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%	0.00%	0.00%
CVE Cenovus Energy Inc.	1.98%	3.32%	3.92%	2.33%	1.81%	0.56%	0.75%	1.58%	2.34%	2.19%	1.32%	6.75%

Frequently Asked Questions

Can I hold both CVE and AVUV in my portfolio?

CVE and AVUV have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVE or AVUV?

CVE has higher volatility (11.27%) compared to AVUV (4.08%). In terms of maximum drawdown, CVE dropped -94.87% vs AVUV's -49.42%.

Which has better risk-adjusted returns?

CVE currently has the higher Sharpe Ratio (3.65 vs 2.10), 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.