DIVP vs. DIVO

Last updated Aug 2, 2026

DIVP (Cullen Enhanced Equity Income ETF) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, DIVP returned 16.90% vs 18.15% for DIVO. Their 0.75 correlation means they have sometimes moved together and sometimes differently. DIVP charges 0.55%/yr vs 0.56%/yr for DIVO.

Performance

DIVP vs. DIVO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cullen Enhanced Equity Income ETF (DIVP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIVP achieves a 11.96% return, which is significantly higher than DIVO's 8.38% return.

DIVP

• 1D: 0.00%
• 1M: 0.66%
• 6M: 7.47%
• YTD: 11.96%
• 1Y: 16.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.46%

DIVO

• 1D: -0.02%
• 1M: 1.40%
• 6M: 5.32%
• YTD: 8.38%
• 1Y: 18.15%
• 3Y*: 14.53%
• 5Y*: 10.70%
• 10Y*: —
• ALL TIME*: 12.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DIVO Amplify CWP Enhanced Dividend Income ETF	$39.08M	$36.10M	$38.51M
DIVP Cullen Enhanced Equity Income ETF	$154.54K	$147.79K	$276.47K

DIVP vs. DIVO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVP Cullen Enhanced Equity Income ETF	11.96%	7.76%	5.21%
DIVO Amplify CWP Enhanced Dividend Income ETF	8.38%	17.40%	11.71%

Correlation

The correlation between DIVP and DIVO is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.75

The correlation between DIVP and DIVO has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

DIVP vs. DIVO - Sectors Allocation Comparison

Sectors	DIVP	DIVO
Healthcare	16.8%	8.2%
Consumer Defensive	11.8%	8.2%
Financial Services	11.5%	23.2%
Industrials	11.2%	16.7%
Energy	11.0%	7.2%
Communication Services	8.1%	1.0%
Real Estate	6.4%	-
Utilities	6.0%	2.2%
Technology	5.4%	17.4%
Basic Materials	2.3%	4.5%
Consumer Cyclical	2.0%	11.4%

Return for Risk

DIVP vs. DIVO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DIVP

DIVP Risk / Return Rank: 67
DIVP Sharpe Ratio Rank: 69
DIVP Sortino Ratio Rank: 72
DIVP Omega Ratio Rank: 62
DIVP Calmar Ratio Rank: 74
DIVP Martin Ratio Rank: 57

DIVO

DIVO Risk / Return Rank: 81
DIVO Sharpe Ratio Rank: 81
DIVO Sortino Ratio Rank: 84
DIVO Omega Ratio Rank: 78
DIVO Calmar Ratio Rank: 80
DIVO Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DIVP vs. DIVO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cullen Enhanced Equity Income ETF (DIVP) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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.

	DIVP	DIVO	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.85	-0.28
Sortino ratio: Return per unit of downside risk	2.32	2.74	-0.42
Omega ratio: Gain probability vs. loss probability	1.27	1.33	-0.06
Calmar ratio: Return relative to maximum drawdown	2.60	2.90	-0.30
Martin ratio: Return relative to average drawdown	6.87	10.27	-3.40

DIVP vs. DIVO - Sharpe Ratio Comparison

The current DIVP Sharpe Ratio is 1.58, which is comparable to the DIVO Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of DIVP and DIVO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DIVP vs. DIVO - Drawdown Comparison

The maximum DIVP drawdown since its inception was -12.26%, smaller than the maximum DIVO drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for DIVP and DIVO.

Drawdown Indicators

	DIVP	DIVO	Difference
Max Drawdown Largest peak-to-trough decline	-12.26%	-30.04%	+17.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.28%	-5.95%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.72%	—
Current Drawdown Current decline from peak	-1.64%	-0.17%	-1.47%
Average Drawdown Average peak-to-trough decline	-2.32%	-2.58%	+0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	1.68%	+0.69%

Volatility

DIVP vs. DIVO - Volatility Comparison

Cullen Enhanced Equity Income ETF (DIVP) has a higher volatility of 4.13% compared to Amplify CWP Enhanced Dividend Income ETF (DIVO) at 2.86%. This indicates that DIVP's price experiences larger fluctuations and is considered to be riskier than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVP	DIVO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.13%	2.86%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	7.22%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	9.32%	+1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.82%	11.91%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.82%	14.77%	-2.95%

DIVP vs. DIVO - Expense Ratio Comparison

DIVP has a 0.55% expense ratio, which is lower than DIVO's 0.56% expense ratio.

Dividends

DIVP vs. DIVO - Dividend Comparison

DIVP's dividend yield for the trailing twelve months is around 5.83%, less than DIVO's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.37%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%
DIVP Cullen Enhanced Equity Income ETF	5.83%	6.06%	5.92%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVP and DIVO in my portfolio?

DIVP and DIVO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVP or DIVO?

DIVP has higher volatility (4.13%) compared to DIVO (2.86%). In terms of maximum drawdown, DIVP dropped -12.26% vs DIVO's -30.04%.

Which ETF is better, DIVP or DIVO?

On 1-year performance, DIVO leads with 18.15% vs 16.90% for DIVP. On fees, DIVP is cheaper at 0.55% per year. On volatility, DIVO has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVP or DIVO?

Over the 1-year period, DIVO has performed better with a 18.15% return vs 16.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVP or DIVO?

DIVP is cheaper with a 0.55% expense ratio, compared with 0.56% for DIVO.

Which ETF pays a higher dividend yield, DIVP or DIVO?

DIVO has the higher dividend yield at 6.37%, compared with 5.83% for DIVP.

What is the main difference between DIVP and DIVO?

They also come from different issuers: Cullen and Amplify. Their fees differ too: 0.55% for DIVP and 0.56% for DIVO.

Which has better risk-adjusted returns?

DIVO currently has the higher Sharpe Ratio (1.85 vs 1.58), 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.