ITA vs. CVS
ITA (iShares U.S. Aerospace & Defense ETF) is Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index, while CVS (CVS Health Corporation) is a stock. Over the past 10 years, ITA returned 15.34%/yr vs 3.70%/yr for CVS. At a 0.42 correlation, their price movements are largely independent.
Performance
ITA vs. CVS - Performance Comparison
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Returns By Period
In the year-to-date period, ITA achieves a 8.97% return, which is significantly lower than CVS's 30.67% return. Over the past 10 years, ITA has outperformed CVS with an annualized return of 15.34%, while CVS has yielded a comparatively lower 3.70% annualized return.
ITA
- 1D
- -0.95%
- 1M
- 3.58%
- YTD
- 8.97%
- 6M
- 11.71%
- 1Y
- 30.96%
- 3Y*
- 27.30%
- 5Y*
- 16.86%
- 10Y*
- 15.34%
CVS
- 1D
- 1.47%
- 1M
- 3.92%
- YTD
- 30.67%
- 6M
- 30.57%
- 1Y
- 59.29%
- 3Y*
- 16.60%
- 5Y*
- 7.08%
- 10Y*
- 3.70%
ITA vs. CVS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITA iShares U.S. Aerospace & Defense ETF | 8.97% | 48.64% | 15.81% | 14.33% | 9.96% | 9.39% | -13.57% | 30.51% | -7.22% | 35.24% |
CVS CVS Health Corporation | 30.67% | 84.35% | -40.77% | -12.53% | -7.63% | 54.87% | -5.14% | 17.26% | -7.04% | -5.75% |
Correlation
The correlation between ITA and CVS is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.42 |
Over the past year, the correlation between ITA and CVS 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
ITA vs. CVS — Risk / Return Rank
ITA
CVS
ITA vs. CVS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) and CVS Health Corporation (CVS). 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.
| ITA | CVS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.35 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 3.62 | -1.66 |
| Martin ratioReturn relative to average drawdown | 5.20 | 9.33 | -4.13 |
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Drawdowns
ITA vs. CVS - Drawdown Comparison
The maximum ITA drawdown since its inception was -59.72%, smaller than the maximum CVS drawdown of -64.07%. Use the drawdown chart below to compare losses from any high point for ITA and CVS.
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Drawdown Indicators
| ITA | CVS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.72% | -64.07% | +4.35% |
Max Drawdown (1Y)Largest decline over 1 year | -15.82% | -16.44% | +0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -15.82% | -43.98% | +28.16% |
Max Drawdown (5Y)Largest decline over 5 years | -18.72% | -56.79% | +38.07% |
Max Drawdown (10Y)Largest decline over 10 years | -51.00% | -56.79% | +5.79% |
Current DrawdownCurrent decline from peak | -6.64% | 0.00% | -6.64% |
Average DrawdownAverage peak-to-trough decline | -9.45% | -19.54% | +10.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 6.38% | -0.41% |
Volatility
ITA vs. CVS - Volatility Comparison
iShares U.S. Aerospace & Defense ETF (ITA) has a higher volatility of 9.07% compared to CVS Health Corporation (CVS) at 7.50%. This indicates that ITA's price experiences larger fluctuations and is considered to be riskier than CVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITA | CVS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 7.50% | +1.57% |
Volatility (6M)Calculated over the trailing 6-month period | 18.47% | 25.88% | -7.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 31.05% | -9.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.21% | 29.98% | -9.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.22% | 29.30% | -6.08% |
Dividends
ITA vs. CVS - Dividend Comparison
ITA's dividend yield for the trailing twelve months is around 0.46%, less than CVS's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVS CVS Health Corporation | 2.61% | 3.35% | 5.93% | 3.06% | 2.36% | 1.94% | 2.93% | 2.69% | 3.05% | 2.76% | 2.15% | 1.43% |
ITA iShares U.S. Aerospace & Defense ETF | 0.46% | 0.55% | 0.85% | 0.93% | 0.95% | 0.82% | 1.07% | 1.54% | 1.13% | 0.91% | 1.07% | 1.04% |
Frequently Asked Questions
ITA and CVS 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.
ITA has higher volatility (9.07%) compared to CVS (7.50%). In terms of maximum drawdown, ITA dropped -59.72% vs CVS's -64.07%.
CVS currently has the higher Sharpe Ratio (1.92 vs 1.43), 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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