CVRD vs. PUTW
Compare and contrast key facts about Madison Covered Call ETF (CVRD) and WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW).
CVRD and PUTW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVRD is an actively managed fund by Madison. It was launched on Aug 21, 2023. PUTW is a passively managed fund by WisdomTree that tracks the performance of the CBOE S&P 500 PutWrite Index. It was launched on Feb 24, 2016.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CVRD or PUTW.
Key characteristics
| CVRD | PUTW | |
|---|---|---|
| YTD Return | 4.88% | 12.41% |
| 1Y Return | 7.82% | 14.86% |
| Sharpe Ratio | 0.92 | 1.51 |
| Daily Std Dev | 8.21% | 9.75% |
| Max Drawdown | -6.47% | -28.40% |
| Current Drawdown | -0.04% | -1.72% |
Correlation
The correlation between CVRD and PUTW is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
CVRD vs. PUTW - Performance Comparison
In the year-to-date period, CVRD achieves a 4.88% return, which is significantly lower than PUTW's 12.41% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CVRD vs. PUTW - Expense Ratio Comparison
CVRD has a 0.90% expense ratio, which is higher than PUTW's 0.44% expense ratio.
Risk-Adjusted Performance
CVRD vs. PUTW - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW). 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.
Dividends
CVRD vs. PUTW - Dividend Comparison
CVRD's dividend yield for the trailing twelve months is around 11.70%, more than PUTW's 10.38% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
CVRD Madison Covered Call ETF | 11.70% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PUTW WisdomTree CBOE S&P 500 PutWrite Strategy Fund | 10.38% | 8.92% | 3.27% | 0.00% | 1.43% | 1.47% | 6.46% | 3.52% | 2.27% |
Drawdowns
CVRD vs. PUTW - Drawdown Comparison
The maximum CVRD drawdown since its inception was -6.47%, smaller than the maximum PUTW drawdown of -28.40%. Use the drawdown chart below to compare losses from any high point for CVRD and PUTW. For additional features, visit the drawdowns tool.
Volatility
CVRD vs. PUTW - Volatility Comparison
Madison Covered Call ETF (CVRD) has a higher volatility of 1.90% compared to WisdomTree CBOE S&P 500 PutWrite Strategy Fund (PUTW) at 1.75%. This indicates that CVRD's price experiences larger fluctuations and is considered to be riskier than PUTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.