DIVB vs. CPZ
DIVB (iShares Core Dividend ETF) is Dividend fund tracking the Morningstar US Dividend and Buyback Index, while CPZ (Calamos Long/Short Equity & Dynamic Income Term Trust) is a stock. Over the past 5 years, DIVB returned 12.91%/yr vs 1.73%/yr for CPZ. At a 0.42 correlation, their price movements are largely independent.
Performance
DIVB vs. CPZ - Performance Comparison
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Returns By Period
In the year-to-date period, DIVB achieves a 22.13% return, which is significantly higher than CPZ's -6.05% return.
DIVB
- 1D
- 0.94%
- 1M
- 3.79%
- 6M
- 19.39%
- YTD
- 22.13%
- 1Y
- 29.18%
- 3Y*
- 21.85%
- 5Y*
- 12.91%
- 10Y*
- —
CPZ
- 1D
- -0.99%
- 1M
- 2.27%
- 6M
- -9.64%
- YTD
- -6.05%
- 1Y
- -10.39%
- 3Y*
- 5.90%
- 5Y*
- 1.73%
- 10Y*
- —
DIVB vs. CPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 22.13% | 15.09% | 18.59% | 13.27% | -10.51% | 31.29% | 10.78% | 2.94% |
CPZ Calamos Long/Short Equity & Dynamic Income Term Trust | -6.05% | 9.81% | 15.98% | 6.26% | -13.98% | 21.23% | -3.49% | -1.69% |
Correlation
The correlation between DIVB and CPZ is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2019 | 0.42 |
Over the past year, the correlation between DIVB and CPZ has dropped to 0.06 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.
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Return for Risk
DIVB vs. CPZ — Risk / Return Rank
DIVB
CPZ
DIVB vs. CPZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend ETF (DIVB) and Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ). 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.
| DIVB | CPZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.41 | ||
| Sortino ratioReturn per unit of downside risk | +4.81 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.86 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | -0.58 | +4.88 |
| Martin ratioReturn relative to average drawdown | 14.43 | -1.07 | +15.50 |
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Drawdowns
DIVB vs. CPZ - Drawdown Comparison
The maximum DIVB drawdown since its inception was -36.93%, smaller than the maximum CPZ drawdown of -51.43%. Use the drawdown chart below to compare losses from any high point for DIVB and CPZ.
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Drawdown Indicators
| DIVB | CPZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.93% | -51.43% | +14.50% |
Max Drawdown (1Y)Largest decline over 1 year | -6.82% | -17.95% | +11.13% |
Max Drawdown (3Y)Largest decline over 3 years | -15.45% | -17.95% | +2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.08% | -25.46% | +4.38% |
Current DrawdownCurrent decline from peak | 0.00% | -14.84% | +14.84% |
Average DrawdownAverage peak-to-trough decline | -4.94% | -9.58% | +4.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 9.75% | -7.72% |
Volatility
DIVB vs. CPZ - Volatility Comparison
iShares Core Dividend ETF (DIVB) has a higher volatility of 3.92% compared to Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) at 3.37%. This indicates that DIVB's price experiences larger fluctuations and is considered to be riskier than CPZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIVB | CPZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.92% | 3.37% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 9.02% | 8.74% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.90% | 11.10% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.30% | 15.98% | -0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.34% | 23.80% | -5.46% |
Dividends
DIVB vs. CPZ - Dividend Comparison
DIVB's dividend yield for the trailing twelve months is around 2.17%, less than CPZ's 12.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CPZ Calamos Long/Short Equity & Dynamic Income Term Trust | 12.86% | 11.49% | 12.65% | 11.63% | 11.06% | 8.37% | 7.69% | 0.22% | 0.00% | 0.00% |
DIVB iShares Core Dividend ETF | 2.17% | 2.50% | 2.61% | 3.18% | 2.02% | 1.63% | 2.08% | 2.07% | 2.52% | 0.37% |
Frequently Asked Questions
DIVB and CPZ have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (3.92%) compared to CPZ (3.37%). In terms of maximum drawdown, DIVB dropped -36.93% vs CPZ's -51.43%.
DIVB currently has the higher Sharpe Ratio (2.47 vs -0.94), 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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