CVY vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Zacks Multi-Asset Income ETF (CVY) and Arrow DWA Tactical ETF (DWAT).

CVY and DWAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVY is a passively managed fund by Invesco that tracks the performance of the Zacks Multi-Asset Income Index. It was launched on Sep 21, 2006. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014.

Performance

CVY vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Zacks Multi-Asset Income ETF (CVY) and Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

CVY vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
CVY Invesco Zacks Multi-Asset Income ETF	-4.99%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

CVY

• 1D: 1.48%
• 1M: -3.50%
• YTD: 1.81%
• 6M: 2.95%
• 1Y: 11.01%
• 3Y*: 13.29%
• 5Y*: 7.36%
• 10Y*: 8.27%

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVY vs. DWAT - Expense Ratio Comparison

CVY has a 1.21% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

CVY

Invesco Zacks Multi-Asset Income ETF

Return for Risk

CVY vs. DWAT — Risk / Return Rank

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

CVY

CVY Risk / Return Rank: 37
CVY Sharpe Ratio Rank: 37
CVY Sortino Ratio Rank: 36
CVY Omega Ratio Rank: 39
CVY Calmar Ratio Rank: 33
CVY Martin Ratio Rank: 37

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. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and Arrow DWA Tactical ETF (DWAT). 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	DWAT	Difference
Sharpe ratio Return per unit of total volatility	0.67	—	—
Sortino ratio Return per unit of downside risk	1.01	—	—
Omega ratio Gain probability vs. loss probability	1.15	—	—
Calmar ratio Return relative to maximum drawdown	0.81	—	—
Martin ratio Return relative to average drawdown	3.39	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CVY	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	—	—

Dividends

CVY vs. DWAT - Dividend Comparison

CVY's dividend yield for the trailing twelve months is around 3.96%, while DWAT has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVY Invesco Zacks Multi-Asset Income ETF	3.96%	3.99%	4.07%	4.41%	5.18%	2.37%	3.40%	3.22%	4.44%	3.94%	4.50%	5.89%
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

CVY vs. DWAT - Drawdown Comparison

The maximum CVY drawdown since its inception was -66.86%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CVY and DWAT.

Drawdown Indicators

	CVY	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	0.00%	-66.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.22%	—	—
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	-5.33%	0.00%	-5.33%
Average Drawdown Average peak-to-trough decline	-10.49%	0.00%	-10.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	—	—

Volatility

Volatility by Period

	CVY	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.40%	0.00%	+16.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	0.00%	+16.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.58%	0.00%	+19.58%