CVNY vs. AVGW

Last updated Jun 6, 2026

CVNY (YieldMax CVNA Option Income Strategy ETF) and AVGW (Roundhill AVGO WeeklyPay™ ETF) are both Derivative Income funds. Both are actively managed. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

CVNY vs. AVGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax CVNA Option Income Strategy ETF (CVNY) and Roundhill AVGO WeeklyPay™ ETF (AVGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVNY achieves a -17.77% return, which is significantly lower than AVGW's 11.37% return.

CVNY

• 1D: 1.22%
• 1M: -12.46%
• YTD: -17.77%
• 6M: -13.65%
• 1Y: -0.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVGW

• 1D: -9.41%
• 1M: -11.45%
• YTD: 11.37%
• 6M: -4.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVNY vs. AVGW - Yearly Performance Comparison

	2026 (YTD)	2025
CVNY YieldMax CVNA Option Income Strategy ETF	-17.77%	26.69%
AVGW Roundhill AVGO WeeklyPay™ ETF	11.37%	20.91%

Correlation

The correlation between CVNY and AVGW is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 25, 2025	0.26

Return for Risk

CVNY vs. AVGW — Risk / Return Rank

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

CVNY

CVNY Risk / Return Rank: 10
CVNY Sharpe Ratio Rank: 9
CVNY Sortino Ratio Rank: 11
CVNY Omega Ratio Rank: 11
CVNY Calmar Ratio Rank: 9
CVNY Martin Ratio Rank: 9

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.

CVNY vs. AVGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax CVNA Option Income Strategy ETF (CVNY) and Roundhill AVGO WeeklyPay™ ETF (AVGW). 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.

	CVNY	AVGW	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	—	—
Sortino ratio: Return per unit of downside risk	0.33	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	-0.02	—	—
Martin ratio: Return relative to average drawdown	-0.04	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CVNY	AVGW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.73	-0.39

Drawdowns

CVNY vs. AVGW - Drawdown Comparison

The maximum CVNY drawdown since its inception was -43.27%, which is greater than AVGW's maximum drawdown of -34.65%. Use the drawdown chart below to compare losses from any high point for CVNY and AVGW.

Drawdown Indicators

	CVNY	AVGW	Difference
Max Drawdown Largest peak-to-trough decline	-43.27%	-34.65%	-8.62%
Max Drawdown (1Y) Largest decline over 1 year	-36.27%	—	—
Current Drawdown Current decline from peak	-26.00%	-23.64%	-2.36%
Average Drawdown Average peak-to-trough decline	-13.50%	-12.26%	-1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.10%	—	—

Volatility

Volatility by Period

	CVNY	AVGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.27%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.50%	56.69%	-7.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	58.19%	56.69%	+1.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	58.19%	56.69%	+1.50%

CVNY vs. AVGW - Expense Ratio Comparison

Both CVNY and AVGW have an expense ratio of 0.99%.

Dividends

CVNY vs. AVGW - Dividend Comparison

CVNY's dividend yield for the trailing twelve months is around 107.17%, more than AVGW's 57.41% yield.

Position	TTM	2025
AVGW Roundhill AVGO WeeklyPay™ ETF	57.41%	31.15%
CVNY YieldMax CVNA Option Income Strategy ETF	107.17%	80.86%

Frequently Asked Questions

Can I hold both CVNY and AVGW in my portfolio?

CVNY and AVGW have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVNY or AVGW?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVNY or AVGW?

CVNY and AVGW have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, CVNY or AVGW?

CVNY has the higher dividend yield at 107.17%, compared with 57.41% for AVGW.

What is the main difference between CVNY and AVGW?

They also come from different issuers: YieldMax and Roundhill.