CWB vs. IDVO
CWB (SPDR Bloomberg Barclays Convertible Securities ETF) and IDVO (Amplify CWP International Enhanced Dividend Income ETF) are both exchange-traded funds - CWB is a Preferred Stock/Convertible Bonds fund tracking the Bloomberg US Convertibles Liquid Bond, while IDVO is a Derivative Income fund actively managed by Amplify. CWB is passively managed, while IDVO is actively managed. Over the past 3 years, CWB returned 14.79%/yr vs 20.92%/yr for IDVO. A 0.69 correlation means they provide meaningful diversification when combined. CWB charges 0.40%/yr vs 0.65%/yr for IDVO.
Performance
CWB vs. IDVO - Performance Comparison
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Returns By Period
In the year-to-date period, CWB achieves a 14.96% return, which is significantly higher than IDVO's 12.22% return.
CWB
- 1D
- 0.33%
- 1M
- -7.84%
- 6M
- 9.22%
- YTD
- 14.96%
- 1Y
- 21.43%
- 3Y*
- 14.79%
- 5Y*
- 5.52%
- 10Y*
- 11.62%
- ALL TIME*
- 11.57%
IDVO
- 1D
- -0.38%
- 1M
- -0.99%
- 6M
- 4.02%
- YTD
- 12.22%
- 1Y
- 30.16%
- 3Y*
- 20.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.32%
CWB vs. IDVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 14.96% | 16.61% | 10.06% | 14.49% | -3.64% |
IDVO Amplify CWP International Enhanced Dividend Income ETF | 12.22% | 36.46% | 10.16% | 17.53% | 6.42% |
Correlation
The correlation between CWB and IDVO is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2022 | 0.69 |
The correlation between CWB and IDVO has been stable across timeframes, ranging from 0.67 to 0.69 - a consistent structural relationship.
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Return for Risk
CWB vs. IDVO — Risk / Return Rank
CWB
IDVO
CWB vs. IDVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays Convertible Securities ETF (CWB) and Amplify CWP International Enhanced Dividend Income ETF (IDVO). 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.
| CWB | IDVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.33 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.92 | -0.32 |
| Martin ratioReturn relative to average drawdown | 8.03 | 10.74 | -2.71 |
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Drawdowns
CWB vs. IDVO - Drawdown Comparison
The maximum CWB drawdown since its inception was -32.06%, which is greater than IDVO's maximum drawdown of -15.46%. Use the drawdown chart below to compare losses from any high point for CWB and IDVO.
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Drawdown Indicators
| CWB | IDVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.06% | -15.46% | -16.60% |
Max Drawdown (1Y)Largest decline over 1 year | -8.28% | -10.37% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -11.92% | -15.46% | +3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -28.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -32.06% | — | — |
Current DrawdownCurrent decline from peak | -7.98% | -2.90% | -5.08% |
Average DrawdownAverage peak-to-trough decline | -6.15% | -2.30% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 2.81% | -0.14% |
Volatility
CWB vs. IDVO - Volatility Comparison
SPDR Bloomberg Barclays Convertible Securities ETF (CWB) has a higher volatility of 5.19% compared to Amplify CWP International Enhanced Dividend Income ETF (IDVO) at 3.51%. This indicates that CWB's price experiences larger fluctuations and is considered to be riskier than IDVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CWB | IDVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 3.51% | +1.68% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 13.81% | -0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.01% | 16.45% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 16.40% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.62% | 16.40% | -1.78% |
CWB vs. IDVO - Expense Ratio Comparison
CWB has a 0.40% expense ratio, which is lower than IDVO's 0.65% expense ratio.
Dividends
CWB vs. IDVO - Dividend Comparison
CWB's dividend yield for the trailing twelve months is around 1.45%, less than IDVO's 5.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.45% | 1.69% | 1.85% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% |
IDVO Amplify CWP International Enhanced Dividend Income ETF | 5.69% | 5.42% | 6.14% | 5.72% | 1.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CWB and IDVO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CWB has higher volatility (5.19%) compared to IDVO (3.51%). In terms of maximum drawdown, CWB dropped -32.06% vs IDVO's -15.46%.
On 3-year performance, IDVO leads with 20.92% vs 14.79% for CWB. On fees, CWB is cheaper at 0.40% per year. On volatility, IDVO has been the lower-risk option at 3.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IDVO has performed better with a 20.92% return vs 14.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CWB is cheaper with a 0.40% expense ratio, compared with 0.65% for IDVO.
IDVO has the higher dividend yield at 5.69%, compared with 1.45% for CWB.
CWB is categorized as Preferred Stock/Convertible Bonds, while IDVO is Derivative Income. They also come from different issuers: State Street and Amplify. Their fees differ too: 0.40% for CWB and 0.65% for IDVO.
IDVO currently has the higher Sharpe Ratio (1.85 vs 1.35), 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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