CVRD vs. FIYY
CVRD (Madison Covered Call ETF) and FIYY (GraniteShares YieldBOOST 20Y+ Treasuries ETF) are both Derivative Income funds. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. CVRD charges 0.90%/yr vs 1.07%/yr for FIYY.
Performance
CVRD vs. FIYY - Performance Comparison
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Returns By Period
CVRD
- 1D
- -0.61%
- 1M
- -1.09%
- 6M
- -0.48%
- YTD
- 0.89%
- 1Y
- 3.05%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIYY
- 1D
- 0.16%
- 1M
- -0.47%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVRD vs. FIYY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CVRD Madison Covered Call ETF | -2.06% |
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF | -1.85% |
Correlation
The correlation between CVRD and FIYY is 0.22, 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 May 5, 2026 | 0.22 |
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Return for Risk
CVRD vs. FIYY — Risk / Return Rank
CVRD
FIYY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CVRD vs. FIYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). 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 | FIYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.06 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | — | — |
| Martin ratioReturn relative to average drawdown | 1.41 | — | — |
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Drawdowns
CVRD vs. FIYY - Drawdown Comparison
The maximum CVRD drawdown since its inception was -17.95%, which is greater than FIYY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for CVRD and FIYY.
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Drawdown Indicators
| CVRD | FIYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.95% | -2.51% | -15.44% |
Max Drawdown (1Y)Largest decline over 1 year | -5.72% | — | — |
Current DrawdownCurrent decline from peak | -3.34% | -1.97% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -2.06% | -1.48% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | — | — |
Volatility
CVRD vs. FIYY - Volatility Comparison
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Volatility by Period
| CVRD | FIYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.13% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 5.05% | +4.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.73% | 5.05% | +6.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.73% | 5.05% | +6.68% |
CVRD vs. FIYY - Expense Ratio Comparison
CVRD has a 0.90% expense ratio, which is lower than FIYY's 1.07% expense ratio.
Dividends
CVRD vs. FIYY - Dividend Comparison
CVRD's dividend yield for the trailing twelve months is around 7.82%, more than FIYY's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CVRD Madison Covered Call ETF | 7.82% | 7.63% | 15.70% | 1.50% |
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF | 1.13% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CVRD and FIYY 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.
On fees, CVRD is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CVRD is cheaper with a 0.90% expense ratio, compared with 1.07% for FIYY.
CVRD has the higher dividend yield at 7.82%, compared with 1.13% for FIYY.
They also come from different issuers: Madison and GraniteShares. Their fees differ too: 0.90% for CVRD and 1.07% for FIYY.
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