CVY vs. JPST
CVY (Invesco Zacks Multi-Asset Income ETF) and JPST (JPMorgan Ultra-Short Income ETF) are both exchange-traded funds - CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index, while JPST is a Ultrashort Bond fund actively managed by JPMorgan. CVY is passively managed, while JPST is actively managed. Over the past 5 years, CVY returned 7.49%/yr vs 3.63%/yr for JPST. At a 0.05 correlation, their price movements are largely independent. CVY charges 1.21%/yr vs 0.18%/yr for JPST.
Performance
CVY vs. JPST - Performance Comparison
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Returns By Period
In the year-to-date period, CVY achieves a 10.45% return, which is significantly higher than JPST's 1.50% return.
CVY
- 1D
- 0.94%
- 1M
- 3.26%
- YTD
- 10.45%
- 6M
- 9.84%
- 1Y
- 18.64%
- 3Y*
- 15.39%
- 5Y*
- 7.49%
- 10Y*
- 8.96%
JPST
- 1D
- 0.02%
- 1M
- 0.31%
- YTD
- 1.50%
- 6M
- 1.76%
- 1Y
- 4.27%
- 3Y*
- 5.19%
- 5Y*
- 3.63%
- 10Y*
- —
CVY vs. JPST - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 10.45% | 11.00% | 10.28% | 17.87% | -9.27% | 25.31% | -10.56% | 25.97% | -10.77% | 13.09% |
JPST JPMorgan Ultra-Short Income ETF | 1.50% | 4.99% | 5.58% | 5.13% | 1.14% | 0.11% | 2.18% | 3.34% | 2.23% | 0.98% |
Correlation
The correlation between CVY and JPST is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 19, 2017 | 0.05 |
The correlation between CVY and JPST shifts across timeframes, from 0.05 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CVY vs. JPST — Risk / Return Rank
CVY
JPST
CVY vs. JPST - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and JPMorgan Ultra-Short Income ETF (JPST). 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 | JPST | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.48 | ||
| Sortino ratioReturn per unit of downside risk | -15.41 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 3.97 | -2.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 29.02 | -26.57 |
| Martin ratioReturn relative to average drawdown | 8.22 | 142.45 | -134.23 |
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Drawdowns
CVY vs. JPST - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than JPST's maximum drawdown of -3.28%. Use the drawdown chart below to compare losses from any high point for CVY and JPST.
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Drawdown Indicators
| CVY | JPST | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -3.28% | -63.58% |
Max Drawdown (1Y)Largest decline over 1 year | -7.43% | -0.15% | -7.28% |
Max Drawdown (3Y)Largest decline over 3 years | -16.79% | -0.30% | -16.49% |
Max Drawdown (5Y)Largest decline over 5 years | -21.58% | -0.79% | -20.79% |
Max Drawdown (10Y)Largest decline over 10 years | -50.47% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -10.40% | -0.08% | -10.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 0.03% | +2.18% |
Volatility
CVY vs. JPST - Volatility Comparison
Invesco Zacks Multi-Asset Income ETF (CVY) has a higher volatility of 3.13% compared to JPMorgan Ultra-Short Income ETF (JPST) at 0.16%. This indicates that CVY's price experiences larger fluctuations and is considered to be riskier than JPST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVY | JPST | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 0.16% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.89% | 0.36% | +7.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.04% | 0.53% | +10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.22% | 0.58% | +15.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.55% | 0.93% | +18.62% |
CVY vs. JPST - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than JPST's 0.18% expense ratio.
Dividends
CVY vs. JPST - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 3.65%, less than JPST's 4.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 3.65% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
JPST JPMorgan Ultra-Short Income ETF | 4.25% | 4.43% | 5.16% | 4.79% | 1.83% | 0.73% | 1.43% | 2.69% | 2.07% | 0.96% | 0.00% | 0.00% |
Frequently Asked Questions
CVY and JPST have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVY has higher volatility (3.13%) compared to JPST (0.16%). In terms of maximum drawdown, CVY dropped -66.86% vs JPST's -3.28%.
On 5-year performance, CVY leads with 7.49% vs 3.63% for JPST. On fees, JPST is cheaper at 0.18% per year. On volatility, JPST has been the lower-risk option at 0.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CVY has performed better with a 7.49% return vs 3.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPST is cheaper with a 0.18% expense ratio, compared with 1.21% for CVY.
JPST has the higher dividend yield at 4.25%, compared with 3.65% for CVY.
CVY is categorized as Diversified Portfolio, while JPST is Ultrashort Bond. They also come from different issuers: Invesco and JPMorgan. Their fees differ too: 1.21% for CVY and 0.18% for JPST.
JPST currently has the higher Sharpe Ratio (8.13 vs 1.65), 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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