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 13.37%/yr vs 2.45%/yr for CPZ. Their 0.42 correlation means their historical movements had little consistent relationship.
Performance
DIVB vs. CPZ - Performance Comparison
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Returns By Period
In the year-to-date period, DIVB achieves a 25.34% return, which is significantly higher than CPZ's -4.09% return.
DIVB
- 1D
- 0.26%
- 1M
- 3.88%
- 6M
- 20.82%
- YTD
- 25.34%
- 1Y
- 36.31%
- 3Y*
- 21.50%
- 5Y*
- 13.37%
- 10Y*
- —
- ALL TIME*
- 14.50%
CPZ
- 1D
- 0.46%
- 1M
- 2.40%
- 6M
- -5.13%
- YTD
- -4.09%
- 1Y
- -8.58%
- 3Y*
- 6.20%
- 5Y*
- 2.45%
- 10Y*
- —
- ALL TIME*
- 3.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.12M | $1.24M | $1.14M | |
| $13.36M | $10.66M | $7.75M |
DIVB vs. CPZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DIVB iShares Core Dividend ETF | 25.34% | 15.09% | 18.59% | 13.27% | -10.51% | 31.29% | 10.78% | 2.94% |
CPZ Calamos Long/Short Equity & Dynamic Income Term Trust | -4.09% | 9.81% | 15.98% | 6.26% | -13.98% | 21.23% | -3.49% | -1.69% |
Correlation
The correlation between DIVB and CPZ is 0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.09 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer 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 0.09 - 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 | +3.54 | ||
| Sortino ratioReturn per unit of downside risk | +4.97 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 0.89 | +0.62 |
| Calmar ratioReturn relative to maximum drawdown | 5.11 | -0.46 | +5.58 |
| Martin ratioReturn relative to average drawdown | 17.69 | -0.81 | +18.50 |
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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 | -1.26% | -13.06% | +11.80% |
Average DrawdownAverage peak-to-trough decline | -4.92% | -9.61% | +4.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 10.29% | -8.32% |
Volatility
DIVB vs. CPZ - Volatility Comparison
iShares Core Dividend ETF (DIVB) has a higher volatility of 5.32% compared to Calamos Long/Short Equity & Dynamic Income Term Trust (CPZ) at 4.19%. 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 | 5.32% | 4.19% | +1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.83% | 9.29% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 11.24% | +1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.38% | 15.99% | -0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.35% | 23.74% | -5.39% |
Dividends
DIVB vs. CPZ - Dividend Comparison
DIVB's dividend yield for the trailing twelve months is around 2.12%, less than CPZ's 12.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CPZ Calamos Long/Short Equity & Dynamic Income Term Trust | 12.74% | 11.49% | 12.65% | 11.63% | 11.06% | 8.37% | 7.69% | 0.22% | 0.00% | 0.00% |
DIVB iShares Core Dividend ETF | 2.12% | 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 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DIVB has higher volatility (5.32%) compared to CPZ (4.19%). In terms of maximum drawdown, DIVB dropped -36.93% vs CPZ's -51.43%.
DIVB currently has the higher Sharpe Ratio (2.80 vs -0.74), 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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