CVY vs. MDAA

Last updated Jun 4, 2026

CVY (Invesco Zacks Multi-Asset Income ETF) and MDAA (Myriad Dynamic Asset Allocation ETF) are both Diversified Portfolio funds. CVY is passively managed, while MDAA is actively managed. A 0.51 correlation means they provide meaningful diversification when combined. CVY charges 1.21%/yr vs 0.97%/yr for MDAA.

Performance

CVY vs. MDAA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Zacks Multi-Asset Income ETF (CVY) and Myriad Dynamic Asset Allocation ETF (MDAA). 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 MDAA's 22.13% 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%

MDAA

• 1D: -1.11%
• 1M: 8.24%
• YTD: 22.13%
• 6M: 22.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVY vs. MDAA - Yearly Performance Comparison

	2026 (YTD)	2025
CVY Invesco Zacks Multi-Asset Income ETF	7.59%	0.62%
MDAA Myriad Dynamic Asset Allocation ETF	22.13%	-0.27%

Correlation

The correlation between CVY and MDAA is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.51

Return for Risk

CVY vs. MDAA — 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

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. MDAA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and Myriad Dynamic Asset Allocation ETF (MDAA). 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	MDAA	Difference
Sharpe ratio Return per unit of total volatility	1.58	—	—
Sortino ratio Return per unit of downside risk	2.31	—	—
Omega ratio Gain probability vs. loss probability	1.28	—	—
Calmar ratio Return relative to maximum drawdown	2.33	—	—
Martin ratio Return relative to average drawdown	7.82	—	—
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	MDAA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	—	—
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	1.47	-1.19

Drawdowns

CVY vs. MDAA - Drawdown Comparison

The maximum CVY drawdown since its inception was -66.86%, which is greater than MDAA's maximum drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for CVY and MDAA.

Drawdown Indicators

	CVY	MDAA	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-14.59%	-52.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.79%	—	—
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%	-1.11%	-0.17%
Average Drawdown Average peak-to-trough decline	-10.41%	-2.93%	-7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	—	—

Volatility

Volatility by Period

	CVY	MDAA	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.00%	23.89%	-12.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	23.89%	-7.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.56%	23.89%	-4.33%

CVY vs. MDAA - Expense Ratio Comparison

CVY has a 1.21% expense ratio, which is higher than MDAA's 0.97% expense ratio.

Dividends

CVY vs. MDAA - Dividend Comparison

CVY's dividend yield for the trailing twelve months is around 3.75%, more than MDAA's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MDAA Myriad Dynamic Asset Allocation ETF	0.38%	0.46%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CVY and MDAA in my portfolio?

CVY and MDAA have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVY or MDAA?

On fees, MDAA is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CVY or MDAA?

MDAA is cheaper with a 0.97% expense ratio, compared with 1.21% for CVY.

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

CVY has the higher dividend yield at 3.75%, compared with 0.38% for MDAA.

What is the main difference between CVY and MDAA?

They also come from different issuers: Invesco and Myriad. Their fees differ too: 1.21% for CVY and 0.97% for MDAA.