CVY vs. SPLS
CVY (Invesco Zacks Multi-Asset Income ETF) and SPLS (PIMCO U.S. Stocks PLUS Active Bond ETF) are both Diversified Portfolio funds. CVY is passively managed, while SPLS is actively managed. A 0.62 correlation means they provide meaningful diversification when combined. CVY charges 1.21%/yr vs 0.18%/yr for SPLS.
Performance
CVY vs. SPLS - Performance Comparison
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Returns By Period
CVY
- 1D
- 0.17%
- 1M
- 0.61%
- YTD
- 9.65%
- 6M
- 8.74%
- 1Y
- 18.13%
- 3Y*
- 15.81%
- 5Y*
- 7.72%
- 10Y*
- 9.17%
SPLS
- 1D
- 0.03%
- 1M
- -2.13%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVY vs. SPLS - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 4.99% |
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF | 6.52% |
Correlation
The correlation between CVY and SPLS is 0.62, 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 Jan 16, 2026 | 0.62 |
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Return for Risk
CVY vs. SPLS — Risk / Return Rank
CVY
SPLS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CVY vs. SPLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Multi-Asset Income ETF (CVY) and PIMCO U.S. Stocks PLUS Active Bond ETF (SPLS). 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 | SPLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | — | — |
| Martin ratioReturn relative to average drawdown | 8.19 | — | — |
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Drawdowns
CVY vs. SPLS - Drawdown Comparison
The maximum CVY drawdown since its inception was -66.86%, which is greater than SPLS's maximum drawdown of -9.24%. Use the drawdown chart below to compare losses from any high point for CVY and SPLS.
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Drawdown Indicators
| CVY | SPLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.86% | -9.24% | -57.62% |
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 DrawdownCurrent decline from peak | -0.72% | -3.25% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -10.38% | -1.90% | -8.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.22% | — | — |
Volatility
CVY vs. SPLS - Volatility Comparison
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Volatility by Period
| CVY | SPLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.96% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 7.94% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.08% | 15.48% | -4.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.17% | 15.48% | +0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.52% | 15.48% | +4.04% |
CVY vs. SPLS - Expense Ratio Comparison
CVY has a 1.21% expense ratio, which is higher than SPLS's 0.18% expense ratio.
Dividends
CVY vs. SPLS - Dividend Comparison
CVY's dividend yield for the trailing twelve months is around 4.33%, more than SPLS's 0.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 4.33% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
SPLS PIMCO U.S. Stocks PLUS Active Bond ETF | 0.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CVY and SPLS have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPLS is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPLS is cheaper with a 0.18% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.33%, compared with 0.22% for SPLS.
They also come from different issuers: Invesco and PIMCO. Their fees differ too: 1.21% for CVY and 0.18% for SPLS.
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