CVRT vs. GRID
CVRT (Calamos Convertible Equity Alternative ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - CVRT is a Convertible Bonds fund actively managed by Calamos, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. CVRT is actively managed, while GRID is passively managed. Over the past year, CVRT returned 70.87% vs 43.17% for GRID. A 0.77 correlation means they provide meaningful diversification when combined. CVRT charges 0.69%/yr vs 0.70%/yr for GRID.
Performance
CVRT vs. GRID - Performance Comparison
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Returns By Period
In the year-to-date period, CVRT achieves a 35.47% return, which is significantly higher than GRID's 23.59% return.
CVRT
- 1D
- 1.03%
- 1M
- -0.63%
- YTD
- 35.47%
- 6M
- 35.23%
- 1Y
- 70.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GRID
- 1D
- -0.18%
- 1M
- -4.22%
- YTD
- 23.59%
- 6M
- 24.02%
- 1Y
- 43.17%
- 3Y*
- 23.21%
- 5Y*
- 16.83%
- 10Y*
- 19.76%
CVRT vs. GRID - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CVRT Calamos Convertible Equity Alternative ETF | 35.47% | 29.37% | 13.23% | 11.44% |
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 23.59% | 29.65% | 15.18% | 15.54% |
Correlation
The correlation between CVRT and GRID is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023 | 0.77 |
The correlation between CVRT and GRID has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.
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Return for Risk
CVRT vs. GRID — Risk / Return Rank
CVRT
GRID
CVRT vs. GRID - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Calamos Convertible Equity Alternative ETF (CVRT) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.
| CVRT | GRID | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.35 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 8.08 | 3.57 | +4.50 |
| Martin ratioReturn relative to average drawdown | 28.81 | 12.89 | +15.92 |
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Drawdowns
CVRT vs. GRID - Drawdown Comparison
The maximum CVRT drawdown since its inception was -20.71%, smaller than the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for CVRT and GRID.
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Drawdown Indicators
| CVRT | GRID | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.71% | -40.56% | +19.85% |
Max Drawdown (1Y)Largest decline over 1 year | -8.60% | -11.73% | +3.13% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.77% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.56% | — |
Current DrawdownCurrent decline from peak | -5.00% | -5.40% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -3.09% | -8.42% | +5.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 3.25% | -0.84% |
Volatility
CVRT vs. GRID - Volatility Comparison
The current volatility for Calamos Convertible Equity Alternative ETF (CVRT) is 9.05%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 9.56%. This indicates that CVRT experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVRT | GRID | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.05% | 9.56% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 18.78% | 17.70% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.44% | 20.73% | +1.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 21.24% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.24% | 22.90% | -2.66% |
CVRT vs. GRID - Expense Ratio Comparison
CVRT has a 0.69% expense ratio, which is lower than GRID's 0.70% expense ratio.
Dividends
CVRT vs. GRID - Dividend Comparison
CVRT's dividend yield for the trailing twelve months is around 1.48%, more than GRID's 0.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVRT Calamos Convertible Equity Alternative ETF | 1.48% | 1.68% | 1.49% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund | 0.80% | 1.01% | 1.06% | 1.23% | 1.26% | 0.63% | 0.68% | 1.26% | 1.28% | 1.07% | 1.07% | 1.23% |
Frequently Asked Questions
CVRT and GRID have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRID has higher volatility (9.56%) compared to CVRT (9.05%). In terms of maximum drawdown, CVRT dropped -20.71% vs GRID's -40.56%.
On 1-year performance, CVRT leads with 70.87% vs 43.17% for GRID. On fees, CVRT is cheaper at 0.69% per year. On volatility, CVRT has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CVRT has performed better with a 70.87% return vs 43.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CVRT is cheaper with a 0.69% expense ratio, compared with 0.70% for GRID.
CVRT has the higher dividend yield at 1.48%, compared with 0.80% for GRID.
CVRT is categorized as Convertible Bonds, while GRID is Alternative Energy Equities. They also come from different issuers: Calamos and First Trust. Their fees differ too: 0.69% for CVRT and 0.70% for GRID.
CVRT currently has the higher Sharpe Ratio (3.10 vs 2.02), 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.
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