CVRD vs. FJUN

Last updated Aug 4, 2026

CVRD (Madison Covered Call ETF) and FJUN (FT Cboe Vest U.S. Equity Buffer ETF - June) are both exchange-traded funds - CVRD is a Derivative Income fund actively managed by Madison, while FJUN is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index June. CVRD is actively managed, while FJUN is passively managed. Over the past year, CVRD returned 7.20% vs 12.32% for FJUN. Their 0.67 correlation means they have sometimes moved together and sometimes differently. CVRD charges 0.90%/yr vs 0.85%/yr for FJUN.

Performance

CVRD vs. FJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Covered Call ETF (CVRD) and FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN). 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 FJUN's 6.19% return.

CVRD

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

FJUN

• 1D: 0.83%
• 1M: 1.23%
• 6M: 5.12%
• YTD: 6.19%
• 1Y: 12.32%
• 3Y*: 13.23%
• 5Y*: 10.65%
• 10Y*: —
• ALL TIME*: 11.58%

*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)
CVRD Madison Covered Call ETF	$200.88K	$121.50K	$51.62K
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	$1.33M	$1.93M	$4.52M

CVRD vs. FJUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CVRD Madison Covered Call ETF	2.56%	5.94%	4.90%	4.74%
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	6.19%	11.05%	16.38%	7.03%

Correlation

The correlation between CVRD and FJUN is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.67

The correlation between CVRD and FJUN shifts across timeframes, from 0.53 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.

CVRD vs. FJUN - Sectors Allocation Comparison

Sectors	CVRD	FJUN
Technology	26.6%	37.9%
Healthcare	12.5%	9.1%
Financial Services	11.9%	11.7%
Consumer Defensive	10.2%	4.6%
Consumer Cyclical	9.0%	9.6%
Industrials	8.3%	8.4%
Communication Services	7.9%	10.0%
Energy	5.9%	3.0%
Real Estate	3.0%	1.9%
Utilities	2.5%	2.3%
Basic Materials	2.2%	1.7%

Return for Risk

CVRD vs. FJUN — 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

FJUN

FJUN Risk / Return Rank: 85
FJUN Sharpe Ratio Rank: 82
FJUN Sortino Ratio Rank: 87
FJUN Omega Ratio Rank: 89
FJUN Calmar Ratio Rank: 78
FJUN Martin Ratio Rank: 91

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. FJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN). 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	FJUN	Difference
Sharpe ratio: Return per unit of total volatility	0.75	2.03	-1.29
Sortino ratio: Return per unit of downside risk	1.10	3.09	-1.99
Omega ratio: Gain probability vs. loss probability	1.14	1.43	-0.29
Calmar ratio: Return relative to maximum drawdown	1.26	2.99	-1.73
Martin ratio: Return relative to average drawdown	3.27	16.21	-12.95

CVRD vs. FJUN - Sharpe Ratio Comparison

The current CVRD Sharpe Ratio is 0.75, which is lower than the FJUN Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of CVRD and FJUN, 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. FJUN - Drawdown Comparison

The maximum CVRD drawdown since its inception was -17.95%, which is greater than FJUN's maximum drawdown of -13.26%. Use the drawdown chart below to compare losses from any high point for CVRD and FJUN.

Drawdown Indicators

	CVRD	FJUN	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-13.26%	-4.69%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-4.13%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.26%	—
Current Drawdown Current decline from peak	-1.74%	0.00%	-1.74%
Average Drawdown Average peak-to-trough decline	-2.07%	-1.64%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	0.76%	+1.45%

Volatility

CVRD vs. FJUN - Volatility Comparison

The current volatility for Madison Covered Call ETF (CVRD) is 2.26%, while FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN) has a volatility of 2.50%. This indicates that CVRD experiences smaller price fluctuations and is considered to be less risky than FJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVRD	FJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	2.50%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	6.97%	5.07%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	6.09%	+3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.68%	10.59%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.68%	10.22%	+1.46%

CVRD vs. FJUN - Expense Ratio Comparison

CVRD has a 0.90% expense ratio, which is higher than FJUN's 0.85% expense ratio.

Dividends

CVRD vs. FJUN - Dividend Comparison

CVRD's dividend yield for the trailing twelve months is around 7.69%, while FJUN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
CVRD Madison Covered Call ETF	7.69%	7.63%	15.70%	1.50%
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CVRD and FJUN in my portfolio?

CVRD and FJUN have a correlation of 0.53, 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 FJUN?

FJUN has higher volatility (2.50%) compared to CVRD (2.26%). In terms of maximum drawdown, CVRD dropped -17.95% vs FJUN's -13.26%.

Which ETF is better, CVRD or FJUN?

On 1-year performance, FJUN leads with 12.32% vs 7.20% for CVRD. On fees, FJUN is cheaper at 0.85% 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 FJUN?

Over the 1-year period, FJUN has performed better with a 12.32% 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 FJUN?

FJUN is cheaper with a 0.85% expense ratio, compared with 0.90% for CVRD.

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

CVRD has the higher dividend yield at 7.69%, compared with 0.00% for FJUN.

What is the main difference between CVRD and FJUN?

CVRD is categorized as Derivative Income, while FJUN is Defined Outcome. They also come from different issuers: Madison and First Trust. Their fees differ too: 0.90% for CVRD and 0.85% for FJUN.

Which has better risk-adjusted returns?

FJUN currently has the higher Sharpe Ratio (2.03 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.