CVY vs. CLSM

Last updated Jun 4, 2026

CVY (Invesco Zacks Multi-Asset Income ETF) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while CLSM is a Tactical Allocation fund tracking the Actively Managed. Both are passively managed. Over the past 3 years, CVY returned 15.33%/yr vs 13.75%/yr for CLSM. A 0.51 correlation means they provide meaningful diversification when combined. CVY charges 1.21%/yr vs 0.82%/yr for CLSM.

Performance

CVY vs. CLSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Zacks Multi-Asset Income ETF (CVY) and Cabana Target Leading Sector Moderate ETF (CLSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVY achieves a 7.59% return, which is significantly lower than CLSM's 20.45% return.

CVY

• 1D: -1.25%
• 1M: 0.78%
• YTD: 7.59%
• 6M: 8.13%
• 1Y: 17.25%
• 3Y*: 15.33%
• 5Y*: 7.04%
• 10Y*: 8.41%

CLSM

• 1D: -0.38%
• 1M: 9.23%
• YTD: 20.45%
• 6M: 20.19%
• 1Y: 34.21%
• 3Y*: 13.75%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CVY vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CVY Invesco Zacks Multi-Asset Income ETF	7.59%	11.00%	10.28%	17.87%	-9.27%	3.44%
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	1.87%	3.78%	-23.23%	9.10%

Correlation

The correlation between CVY and CLSM is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.51

The correlation between CVY and CLSM has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

CVY vs. CLSM - Sectors Allocation Comparison

Sectors	CVY	CLSM
Financial Services	38.3%	0.1%
Energy	20.1%	0.2%
Real Estate	11.8%	0.0%
Technology	5.7%	51.8%
Consumer Cyclical	5.4%	4.4%
Industrials	4.8%	1.0%
Healthcare	4.5%	1.4%
Basic Materials	4.3%	0.4%
Communication Services	3.1%	5.5%
Consumer Defensive	1.5%	34.8%
Utilities	0.6%	0.5%

Return for Risk

CVY vs. CLSM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CVY

CVY Risk / Return Rank: 46
CVY Sharpe Ratio Rank: 45
CVY Sortino Ratio Rank: 46
CVY Omega Ratio Rank: 44
CVY Calmar Ratio Rank: 47
CVY Martin Ratio Rank: 47

CLSM

CLSM Risk / Return Rank: 82
CLSM Sharpe Ratio Rank: 83
CLSM Sortino Ratio Rank: 80
CLSM Omega Ratio Rank: 83
CLSM Calmar Ratio Rank: 80
CLSM Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CVY vs. CLSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and Cabana Target Leading Sector Moderate ETF (CLSM). 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.

	CVY	CLSM	Difference
Sharpe ratio Return per unit of total volatility	1.58	2.71	-1.13
Sortino ratio Return per unit of downside risk	2.31	3.58	-1.27
Omega ratio Gain probability vs. loss probability	1.28	1.50	-0.22
Calmar ratio Return relative to maximum drawdown	2.33	4.04	-1.71
Martin ratio Return relative to average drawdown	7.82	16.72	-8.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVY vs. CLSM - Sharpe Ratio Comparison

The current CVY Sharpe Ratio is 1.58, which is lower than the CLSM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of CVY and CLSM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CVY	CLSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	2.71	-1.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.35	-0.07

Drawdowns

CVY vs. CLSM - Drawdown Comparison

The maximum CVY drawdown since its inception was -66.86%, which is greater than CLSM's maximum drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for CVY and CLSM.

Drawdown Indicators

	CVY	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-27.77%	-39.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	-8.50%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-16.79%	-14.60%	-2.19%
Max Drawdown (5Y) Largest decline over 5 years	-21.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.47%	—	—
Current Drawdown Current decline from peak	-1.28%	-0.38%	-0.90%
Average Drawdown Average peak-to-trough decline	-10.41%	-16.49%	+6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.05%	+0.16%

Volatility

CVY vs. CLSM - Volatility Comparison

The current volatility for Invesco Zacks Multi-Asset Income ETF (CVY) is 2.87%, while Cabana Target Leading Sector Moderate ETF (CLSM) has a volatility of 3.58%. This indicates that CVY experiences smaller price fluctuations and is considered to be less risky than CLSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVY	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	3.58%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	10.54%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	12.70%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	12.47%	+3.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	12.47%	+7.09%

CVY vs. CLSM - Expense Ratio Comparison

CVY has a 1.21% expense ratio, which is higher than CLSM's 0.82% expense ratio.

Dividends

CVY vs. CLSM - Dividend Comparison

CVY's dividend yield for the trailing twelve months is around 3.75%, more than CLSM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLSM Cabana Target Leading Sector Moderate ETF	0.75%	0.90%	2.13%	2.58%	3.17%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
CVY Invesco Zacks Multi-Asset Income ETF	3.75%	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

Can I hold both CVY and CLSM in my portfolio?

CVY and CLSM have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CVY or CLSM?

CLSM has higher volatility (3.58%) compared to CVY (2.87%). In terms of maximum drawdown, CVY dropped -66.86% vs CLSM's -27.77%.

Which ETF is better, CVY or CLSM?

On 3-year performance, CVY leads with 15.33% vs 13.75% for CLSM. On fees, CLSM is cheaper at 0.82% per year. On volatility, CVY has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVY or CLSM?

Over the 3-year period, CVY has performed better with a 15.33% return vs 13.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVY or CLSM?

CLSM is cheaper with a 0.82% expense ratio, compared with 1.21% for CVY.

Which ETF pays a higher dividend yield, CVY or CLSM?

CVY has the higher dividend yield at 3.75%, compared with 0.75% for CLSM.

What is the main difference between CVY and CLSM?

CVY is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. CVY tracks Zacks Multi-Asset Income Index, while CLSM tracks Actively Managed. They also come from different issuers: Invesco and Cabana. Their fees differ too: 1.21% for CVY and 0.82% for CLSM.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 1.58), 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.