CVRD vs. AMDW

Last updated Aug 4, 2026

CVRD (Madison Covered Call ETF) and AMDW (Roundhill AMD WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CVRD returned 7.20% vs 214.50% for AMDW. Their 0.09 correlation means their historical movements had little consistent relationship. CVRD charges 0.90%/yr vs 0.99%/yr for AMDW.

Performance

CVRD vs. AMDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Covered Call ETF (CVRD) and Roundhill AMD WeeklyPay ETF (AMDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVRD achieves a 2.56% return, which is significantly lower than AMDW's 150.89% return.

CVRD

• 1D: -0.27%
• 1M: 2.03%
• 6M: 0.20%
• YTD: 2.56%
• 1Y: 7.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.19%

AMDW

• 1D: 1.68%
• 1M: -8.62%
• 6M: 113.70%
• YTD: 150.89%
• 1Y: 214.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 231.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDW Roundhill AMD WeeklyPay ETF	$10.29M	$9.36M	$8.60M
CVRD Madison Covered Call ETF	$200.88K	$121.50K	$51.62K

CVRD vs. AMDW - Yearly Performance Comparison

	2026 (YTD)	2025
CVRD Madison Covered Call ETF	2.56%	1.12%
AMDW Roundhill AMD WeeklyPay ETF	150.89%	36.56%

Correlation

The correlation between CVRD and AMDW is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.09
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.09

CVRD vs. AMDW - Sectors Allocation Comparison

Sectors	CVRD	AMDW
Technology	26.6%	19.3%
Healthcare	12.5%	-
Financial Services	11.9%	-
Consumer Defensive	10.2%	-
Consumer Cyclical	9.0%	-
Industrials	8.3%	-
Communication Services	7.9%	-
Energy	5.9%	-
Real Estate	3.0%	-
Utilities	2.5%	-
Basic Materials	2.2%	-

Return for Risk

CVRD vs. AMDW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CVRD

CVRD Risk / Return Rank: 31
CVRD Sharpe Ratio Rank: 30
CVRD Sortino Ratio Rank: 28
CVRD Omega Ratio Rank: 28
CVRD Calmar Ratio Rank: 35
CVRD Martin Ratio Rank: 33

AMDW

AMDW Risk / Return Rank: 89
AMDW Sharpe Ratio Rank: 93
AMDW Sortino Ratio Rank: 87
AMDW Omega Ratio Rank: 83
AMDW Calmar Ratio Rank: 96
AMDW Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CVRD vs. AMDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and Roundhill AMD WeeklyPay ETF (AMDW). 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.

	CVRD	AMDW	Difference
Sharpe ratio: Return per unit of total volatility	0.75	2.52	-1.78
Sortino ratio: Return per unit of downside risk	1.10	3.02	-1.92
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.24
Calmar ratio: Return relative to maximum drawdown	1.26	6.23	-4.97
Martin ratio: Return relative to average drawdown	3.27	12.22	-8.96

CVRD vs. AMDW - Sharpe Ratio Comparison

The current CVRD Sharpe Ratio is 0.75, which is lower than the AMDW Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of CVRD and AMDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CVRD vs. AMDW - Drawdown Comparison

The maximum CVRD drawdown since its inception was -17.95%, smaller than the maximum AMDW drawdown of -34.64%. Use the drawdown chart below to compare losses from any high point for CVRD and AMDW.

Drawdown Indicators

	CVRD	AMDW	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-34.64%	+16.69%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-34.64%	+28.92%
Current Drawdown Current decline from peak	-1.74%	-20.07%	+18.33%
Average Drawdown Average peak-to-trough decline	-2.07%	-13.99%	+11.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	17.63%	-15.42%

Volatility

CVRD vs. AMDW - Volatility Comparison

The current volatility for Madison Covered Call ETF (CVRD) is 2.26%, while Roundhill AMD WeeklyPay ETF (AMDW) has a volatility of 28.57%. This indicates that CVRD experiences smaller price fluctuations and is considered to be less risky than AMDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRD	AMDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	28.57%	-26.31%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	66.95%	-59.98%
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	85.77%	-76.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.68%	84.89%	-73.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.68%	84.89%	-73.21%

CVRD vs. AMDW - Expense Ratio Comparison

CVRD has a 0.90% expense ratio, which is lower than AMDW's 0.99% expense ratio.

Dividends

CVRD vs. AMDW - Dividend Comparison

CVRD's dividend yield for the trailing twelve months is around 7.69%, less than AMDW's 55.51% yield.

Position	TTM	2025	2024	2023
AMDW Roundhill AMD WeeklyPay ETF	55.51%	34.78%	0.00%	0.00%
CVRD Madison Covered Call ETF	7.69%	7.63%	15.70%	1.50%

Frequently Asked Questions

Can I hold both CVRD and AMDW in my portfolio?

CVRD and AMDW have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVRD or AMDW?

AMDW has higher volatility (28.57%) compared to CVRD (2.26%). In terms of maximum drawdown, CVRD dropped -17.95% vs AMDW's -34.64%.

Which ETF is better, CVRD or AMDW?

On 1-year performance, AMDW leads with 214.50% vs 7.20% for CVRD. On fees, CVRD is cheaper at 0.90% per year. On volatility, CVRD has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVRD or AMDW?

Over the 1-year period, AMDW has performed better with a 214.50% return vs 7.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVRD or AMDW?

CVRD is cheaper with a 0.90% expense ratio, compared with 0.99% for AMDW.

Which ETF pays a higher dividend yield, CVRD or AMDW?

AMDW has the higher dividend yield at 55.51%, compared with 7.69% for CVRD.

What is the main difference between CVRD and AMDW?

They also come from different issuers: Madison and Roundhill. Their fees differ too: 0.90% for CVRD and 0.99% for AMDW.

Which has better risk-adjusted returns?

AMDW currently has the higher Sharpe Ratio (2.52 vs 0.75), 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.