IVE vs. CVGRX
IVE (iShares S&P 500 Value ETF) and CVGRX (Calamos Growth Fund) are both funds - IVE is a Large Cap Value Equities fund tracking the S&P 500 Value Index, while CVGRX is a Large Cap Growth Equities fund managed by Calamos. Over the past 10 years, IVE returned 11.76%/yr vs 14.85%/yr for CVGRX. A 0.78 correlation means they provide meaningful diversification when combined. IVE charges 0.18%/yr vs 1.28%/yr for CVGRX.
Performance
IVE vs. CVGRX - Performance Comparison
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Returns By Period
In the year-to-date period, IVE achieves a 7.46% return, which is significantly lower than CVGRX's 11.13% return. Over the past 10 years, IVE has underperformed CVGRX with an annualized return of 11.76%, while CVGRX has yielded a comparatively higher 14.85% annualized return.
IVE
- 1D
- -0.35%
- 1M
- 2.24%
- YTD
- 7.46%
- 6M
- 7.74%
- 1Y
- 21.15%
- 3Y*
- 15.57%
- 5Y*
- 10.54%
- 10Y*
- 11.76%
CVGRX
- 1D
- -0.11%
- 1M
- 6.96%
- YTD
- 11.13%
- 6M
- 10.25%
- 1Y
- 28.10%
- 3Y*
- 24.26%
- 5Y*
- 12.77%
- 10Y*
- 14.85%
IVE vs. CVGRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IVE iShares S&P 500 Value ETF | 7.46% | 13.02% | 12.03% | 22.07% | -5.41% | 24.72% | 1.22% | 31.62% | -9.22% | 15.24% |
CVGRX Calamos Growth Fund | 11.13% | 16.08% | 32.32% | 37.64% | -33.33% | 23.06% | 32.97% | 31.11% | -6.14% | 26.58% |
Correlation
The correlation between IVE and CVGRX is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 30, 2000 | 0.78 |
Over the past year, the correlation between IVE and CVGRX has dropped to 0.55 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
IVE vs. CVGRX — Risk / Return Rank
IVE
CVGRX
IVE vs. CVGRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Value ETF (IVE) and Calamos Growth Fund (CVGRX). 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.
| IVE | CVGRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.31 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.43 | 1.80 | +1.63 |
| Martin ratioReturn relative to average drawdown | 13.10 | 6.76 | +6.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IVE | CVGRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 1.75 | +0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.59 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | 0.69 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.51 | -0.12 |
Drawdowns
IVE vs. CVGRX - Drawdown Comparison
The maximum IVE drawdown since its inception was -61.32%, roughly equal to the maximum CVGRX drawdown of -61.65%. Use the drawdown chart below to compare losses from any high point for IVE and CVGRX.
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Drawdown Indicators
| IVE | CVGRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.32% | -61.65% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -6.19% | -16.00% | +9.81% |
Max Drawdown (3Y)Largest decline over 3 years | -17.58% | -23.81% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -18.04% | -37.43% | +19.39% |
Max Drawdown (10Y)Largest decline over 10 years | -37.04% | -37.43% | +0.39% |
Current DrawdownCurrent decline from peak | -0.55% | -0.11% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -10.10% | -11.50% | +1.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 4.26% | -2.64% |
Volatility
IVE vs. CVGRX - Volatility Comparison
The current volatility for iShares S&P 500 Value ETF (IVE) is 2.00%, while Calamos Growth Fund (CVGRX) has a volatility of 3.69%. This indicates that IVE experiences smaller price fluctuations and is considered to be less risky than CVGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVE | CVGRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 3.69% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 12.71% | -5.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.79% | 16.48% | -6.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 21.81% | -7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 21.61% | -4.65% |
IVE vs. CVGRX - Expense Ratio Comparison
IVE has a 0.18% expense ratio, which is lower than CVGRX's 1.28% expense ratio.
Dividends
IVE vs. CVGRX - Dividend Comparison
IVE's dividend yield for the trailing twelve months is around 1.52%, less than CVGRX's 7.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVGRX Calamos Growth Fund | 7.93% | 8.81% | 6.66% | 4.48% | 0.00% | 12.17% | 11.25% | 9.71% | 16.86% | 13.75% | 4.12% | 35.24% |
IVE iShares S&P 500 Value ETF | 1.52% | 1.61% | 2.04% | 1.65% | 2.10% | 1.81% | 2.37% | 2.11% | 2.74% | 2.12% | 2.26% | 2.44% |
Frequently Asked Questions
IVE and CVGRX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVGRX has higher volatility (3.69%) compared to IVE (2.00%). In terms of maximum drawdown, IVE dropped -61.32% vs CVGRX's -61.65%.
IVE currently has the higher Sharpe Ratio (2.17 vs 1.75), 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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