IDVO vs. UMMA

Last updated Jun 5, 2026

IDVO (Amplify CWP International Enhanced Dividend Income ETF) and UMMA (Wahed Dow Jones Islamic World ETF) are both exchange-traded funds - IDVO is a Derivative Income fund actively managed by Amplify, while UMMA is a Foreign Large Cap Equities fund tracking the Dow Jones Islamic Market International Titans 100 Index. IDVO is actively managed, while UMMA is passively managed. Over the past 3 years, IDVO returned 24.20%/yr vs 22.81%/yr for UMMA. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

IDVO vs. UMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Wahed Dow Jones Islamic World ETF (UMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDVO achieves a 15.00% return, which is significantly lower than UMMA's 32.32% return.

IDVO

• 1D: 0.77%
• 1M: 1.90%
• YTD: 15.00%
• 6M: 15.31%
• 1Y: 36.25%
• 3Y*: 24.20%
• 5Y*: —
• 10Y*: —

UMMA

• 1D: -0.13%
• 1M: 12.11%
• YTD: 32.32%
• 6M: 35.20%
• 1Y: 51.77%
• 3Y*: 22.81%
• 5Y*: —
• 10Y*: —

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

IDVO vs. UMMA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	15.00%	36.46%	10.16%	17.53%	5.47%
UMMA Wahed Dow Jones Islamic World ETF	32.32%	26.65%	4.67%	18.84%	5.15%

Correlation

The correlation between IDVO and UMMA is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022	0.80

The correlation between IDVO and UMMA has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

IDVO vs. UMMA - Sectors Allocation Comparison

Sectors	IDVO	UMMA
Financial Services	18.3%	-
Basic Materials	15.7%	9.3%
Energy	12.1%	2.9%
Industrials	9.8%	13.5%
Communication Services	9.1%	0.8%
Technology	8.7%	42.9%
Healthcare	8.3%	16.6%
Consumer Defensive	7.5%	5.6%
Utilities	6.4%	-
Consumer Cyclical	4.2%	8.1%
Real Estate	-	0.5%

Return for Risk

IDVO vs. UMMA — Risk / Return Rank

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

IDVO

IDVO Risk / Return Rank: 72
IDVO Sharpe Ratio Rank: 73
IDVO Sortino Ratio Rank: 70
IDVO Omega Ratio Rank: 72
IDVO Calmar Ratio Rank: 71
IDVO Martin Ratio Rank: 73

UMMA

UMMA Risk / Return Rank: 76
UMMA Sharpe Ratio Rank: 81
UMMA Sortino Ratio Rank: 78
UMMA Omega Ratio Rank: 76
UMMA Calmar Ratio Rank: 71
UMMA Martin Ratio Rank: 73

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.

IDVO vs. UMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP International Enhanced Dividend Income ETF (IDVO) and Wahed Dow Jones Islamic World ETF (UMMA). 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.

	IDVO	UMMA	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.59	-0.26
Sortino ratio: Return per unit of downside risk	3.12	3.44	-0.32
Omega ratio: Gain probability vs. loss probability	1.42	1.45	-0.02
Calmar ratio: Return relative to maximum drawdown	3.51	3.48	+0.03
Martin ratio: Return relative to average drawdown	13.61	13.60	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDVO vs. UMMA - Sharpe Ratio Comparison

The current IDVO Sharpe Ratio is 2.33, which is comparable to the UMMA Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of IDVO and UMMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IDVO	UMMA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	2.59	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	0.58	+0.81

Drawdowns

IDVO vs. UMMA - Drawdown Comparison

The maximum IDVO drawdown since its inception was -15.46%, smaller than the maximum UMMA drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for IDVO and UMMA.

Drawdown Indicators

	IDVO	UMMA	Difference
Max Drawdown Largest peak-to-trough decline	-15.46%	-34.17%	+18.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-14.93%	+4.56%
Max Drawdown (3Y) Largest decline over 3 years	-15.46%	-18.73%	+3.27%
Current Drawdown Current decline from peak	-0.49%	-0.90%	+0.41%
Average Drawdown Average peak-to-trough decline	-2.30%	-9.81%	+7.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.82%	-1.15%

Volatility

IDVO vs. UMMA - Volatility Comparison

The current volatility for Amplify CWP International Enhanced Dividend Income ETF (IDVO) is 5.17%, while Wahed Dow Jones Islamic World ETF (UMMA) has a volatility of 7.54%. This indicates that IDVO experiences smaller price fluctuations and is considered to be less risky than UMMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDVO	UMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.17%	7.54%	-2.37%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	17.26%	-4.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	20.11%	-4.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.36%	20.55%	-4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	20.55%	-4.19%

IDVO vs. UMMA - Expense Ratio Comparison

Both IDVO and UMMA have an expense ratio of 0.65%.

Dividends

IDVO vs. UMMA - Dividend Comparison

IDVO's dividend yield for the trailing twelve months is around 5.44%, more than UMMA's 0.93% yield.

Position	TTM	2025	2024	2023	2022
IDVO Amplify CWP International Enhanced Dividend Income ETF	5.44%	5.42%	6.14%	5.72%	1.96%
UMMA Wahed Dow Jones Islamic World ETF	0.93%	1.02%	0.91%	1.09%	1.77%

Frequently Asked Questions

Can I hold both IDVO and UMMA in my portfolio?

IDVO and UMMA have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDVO or UMMA?

UMMA has higher volatility (7.54%) compared to IDVO (5.17%). In terms of maximum drawdown, IDVO dropped -15.46% vs UMMA's -34.17%.

Which ETF is better, IDVO or UMMA?

On 3-year performance, IDVO leads with 24.20% vs 22.81% for UMMA. Both ETFs have the same 0.65% expense ratio. On volatility, IDVO has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDVO or UMMA?

Over the 3-year period, IDVO has performed better with a 24.20% return vs 22.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDVO or UMMA?

IDVO and UMMA have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, IDVO or UMMA?

IDVO has the higher dividend yield at 5.44%, compared with 0.93% for UMMA.

What is the main difference between IDVO and UMMA?

IDVO is categorized as Derivative Income, while UMMA is Foreign Large Cap Equities. They also come from different issuers: Amplify and Wahed.

Which has better risk-adjusted returns?

UMMA currently has the higher Sharpe Ratio (2.59 vs 2.33), 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.