HCOW vs. DIVB

Last updated Jul 14, 2026

HCOW (Amplify Cash Flow High Income ETF) and DIVB (iShares Core Dividend ETF) are both exchange-traded funds - HCOW is a Large Cap Value Equities fund actively managed by Amplify, while DIVB is a Dividend fund tracking the Morningstar US Dividend and Buyback Index. HCOW is actively managed, while DIVB is passively managed. Over the past year, HCOW returned 14.88% vs 29.18% for DIVB. Their correlation of 0.82 suggests significant overlap in exposure. HCOW charges 0.65%/yr vs 0.05%/yr for DIVB.

Performance

HCOW vs. DIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow High Income ETF (HCOW) and iShares Core Dividend ETF (DIVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCOW achieves a 6.22% return, which is significantly lower than DIVB's 22.13% return.

HCOW

• 1D: 0.53%
• 1M: 0.75%
• 6M: 4.58%
• YTD: 6.22%
• 1Y: 14.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DIVB

• 1D: 0.94%
• 1M: 3.79%
• 6M: 19.39%
• YTD: 22.13%
• 1Y: 29.18%
• 3Y*: 21.85%
• 5Y*: 12.91%
• 10Y*: —

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

HCOW vs. DIVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCOW Amplify Cash Flow High Income ETF	6.22%	5.76%	7.63%	4.66%
DIVB iShares Core Dividend ETF	22.13%	15.09%	18.59%	8.07%

Correlation

The correlation between HCOW and DIVB is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	0.82

The correlation between HCOW and DIVB has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

Return for Risk

HCOW vs. DIVB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HCOW

HCOW Risk / Return Rank: 46
HCOW Sharpe Ratio Rank: 38
HCOW Sortino Ratio Rank: 39
HCOW Omega Ratio Rank: 37
HCOW Calmar Ratio Rank: 60
HCOW Martin Ratio Rank: 55

DIVB

DIVB Risk / Return Rank: 90
DIVB Sharpe Ratio Rank: 91
DIVB Sortino Ratio Rank: 91
DIVB Omega Ratio Rank: 89
DIVB Calmar Ratio Rank: 90
DIVB Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HCOW vs. DIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow High Income ETF (HCOW) and iShares Core Dividend ETF (DIVB). 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.

	HCOW	DIVB	Difference
Sharpe ratio: Return per unit of total volatility	1.10	2.47	-1.37
Sortino ratio: Return per unit of downside risk	1.65	3.48	-1.82
Omega ratio: Gain probability vs. loss probability	1.20	1.44	-0.24
Calmar ratio: Return relative to maximum drawdown	2.38	4.30	-1.92
Martin ratio: Return relative to average drawdown	7.57	14.43	-6.86

HCOW vs. DIVB - Sharpe Ratio Comparison

The current HCOW Sharpe Ratio is 1.10, which is lower than the DIVB Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of HCOW and DIVB, 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

HCOW vs. DIVB - Drawdown Comparison

The maximum HCOW drawdown since its inception was -24.15%, smaller than the maximum DIVB drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for HCOW and DIVB.

Drawdown Indicators

	HCOW	DIVB	Difference
Max Drawdown Largest peak-to-trough decline	-24.15%	-36.93%	+12.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-6.82%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.08%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.81%	-4.94%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	2.03%	-0.05%

Volatility

HCOW vs. DIVB - Volatility Comparison

The current volatility for Amplify Cash Flow High Income ETF (HCOW) is 2.92%, while iShares Core Dividend ETF (DIVB) has a volatility of 3.92%. This indicates that HCOW experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCOW	DIVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.92%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	9.02%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	13.66%	11.90%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.42%	15.30%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.42%	18.34%	-0.92%

HCOW vs. DIVB - Expense Ratio Comparison

HCOW has a 0.65% expense ratio, which is higher than DIVB's 0.05% expense ratio.

Dividends

HCOW vs. DIVB - Dividend Comparison

HCOW's dividend yield for the trailing twelve months is around 11.87%, more than DIVB's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
HCOW Amplify Cash Flow High Income ETF	11.87%	10.88%	8.13%	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HCOW and DIVB in my portfolio?

HCOW and DIVB have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCOW or DIVB?

DIVB has higher volatility (3.92%) compared to HCOW (2.92%). In terms of maximum drawdown, HCOW dropped -24.15% vs DIVB's -36.93%.

Which ETF is better, HCOW or DIVB?

On 1-year performance, DIVB leads with 29.18% vs 14.88% for HCOW. On fees, DIVB is cheaper at 0.05% per year. On volatility, HCOW has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCOW or DIVB?

Over the 1-year period, DIVB has performed better with a 29.18% return vs 14.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCOW or DIVB?

DIVB is cheaper with a 0.05% expense ratio, compared with 0.65% for HCOW.

Which ETF pays a higher dividend yield, HCOW or DIVB?

HCOW has the higher dividend yield at 11.87%, compared with 2.17% for DIVB.

What is the main difference between HCOW and DIVB?

HCOW is categorized as Large Cap Value Equities, while DIVB is Dividend. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.65% for HCOW and 0.05% for DIVB.

Which has better risk-adjusted returns?

DIVB currently has the higher Sharpe Ratio (2.47 vs 1.10), 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.