CVY vs. AOK
CVY (Invesco Zacks Multi-Asset Income ETF) and AOK (iShares Core 30/70 Conservative Allocation ETF) are both Diversified Portfolio funds - CVY tracks the Zacks Multi-Asset Income Index while AOK tracks the S&P Target Risk Conservative Index. Both are passively managed. Over the past 10 years, CVY returned 8.99%/yr vs 4.89%/yr for AOK. Their 0.64 correlation means they have sometimes moved together and sometimes differently. CVY charges 1.21%/yr vs 0.15%/yr for AOK.
Performance
CVY vs. AOK - Performance Comparison
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Returns By Period
In the year-to-date period, CVY achieves a 15.51% return, which is significantly higher than AOK's 3.61% return. Over the past 10 years, CVY has outperformed AOK with an annualized return of 8.99%, while AOK has yielded a comparatively lower 4.89% annualized return.
CVY
- 1D
- -0.27%
- 1M
- 3.22%
- 6M
- 10.58%
- YTD
- 15.51%
- 1Y
- 22.82%
- 3Y*
- 14.62%
- 5Y*
- 9.27%
- 10Y*
- 8.99%
- ALL TIME*
- 6.01%
AOK
- 1D
- -0.05%
- 1M
- -0.92%
- 6M
- 2.08%
- YTD
- 3.61%
- 1Y
- 8.63%
- 3Y*
- 8.53%
- 5Y*
- 3.31%
- 10Y*
- 4.89%
- ALL TIME*
- 5.31%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.17M | $5.77M | $7.49M | |
| $104.32K | $103.88K | $109.40K |
CVY vs. AOK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 15.51% | 11.00% | 10.28% | 17.87% | -9.27% | 25.31% | -10.56% | 25.97% | -10.77% | 15.91% |
AOK iShares Core 30/70 Conservative Allocation ETF | 3.61% | 11.26% | 6.58% | 10.85% | -14.16% | 4.87% | 9.33% | 13.90% | -3.09% | 9.70% |
Correlation
The correlation between CVY and AOK is 0.55, 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. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2008 | 0.64 |
The correlation between CVY and AOK has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
CVY vs. AOK — Risk / Return Rank
CVY
AOK
CVY vs. AOK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and iShares Core 30/70 Conservative Allocation ETF (AOK). 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.
| CVY | AOK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.27 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 1.93 | +0.99 |
| Martin ratioReturn relative to average drawdown | 10.01 | 7.91 | +2.11 |
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Drawdowns
CVY vs. AOK - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than AOK's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for CVY and AOK.
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Drawdown Indicators
| CVY | AOK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -18.94% | -47.92% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -4.50% | -2.93% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -5.17% | -11.62% |
Max Drawdown (5Y)Largest decline over 5 years | -21.58% | -18.94% | -2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -50.47% | -18.94% | -31.53% |
Current DrawdownCurrent decline from peak | -0.97% | -1.09% | +0.12% |
Average DrawdownAverage peak-to-trough decline | -10.33% | -2.35% | -7.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 1.09% | +1.07% |
Volatility
CVY vs. AOK - Volatility Comparison
Invesco Zacks Multi-Asset Income ETF (CVY) has a higher volatility of 3.00% compared to iShares Core 30/70 Conservative Allocation ETF (AOK) at 1.64%. This indicates that CVY's price experiences larger fluctuations and is considered to be riskier than AOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVY | AOK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 1.64% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 7.79% | 4.95% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 5.98% | +4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 7.17% | +8.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.46% | 6.72% | +12.74% |
CVY vs. AOK - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than AOK's 0.15% expense ratio.
Dividends
CVY vs. AOK - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 4.11%, more than AOK's 3.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOK iShares Core 30/70 Conservative Allocation ETF | 3.38% | 3.28% | 3.23% | 2.93% | 2.25% | 1.55% | 2.10% | 2.71% | 2.68% | 2.91% | 2.14% | 2.02% |
CVY Invesco Zacks Multi-Asset Income ETF | 4.11% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
Frequently Asked Questions
CVY and AOK have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVY has higher volatility (3.00%) compared to AOK (1.64%). In terms of maximum drawdown, CVY dropped -66.86% vs AOK's -18.94%.
On 10-year performance, CVY leads with 8.99% vs 4.89% for AOK. On fees, AOK is cheaper at 0.15% per year. On volatility, AOK has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CVY has performed better with a 8.99% return vs 4.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOK is cheaper with a 0.15% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.11%, compared with 3.38% for AOK.
CVY tracks Zacks Multi-Asset Income Index, while AOK tracks S&P Target Risk Conservative Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 1.21% for CVY and 0.15% for AOK.
CVY currently has the higher Sharpe Ratio (2.01 vs 1.45), 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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