MKAM vs. CVY

Last updated Aug 2, 2026

MKAM (MKAM ETF) and CVY (Invesco Zacks Multi-Asset Income ETF) are both Diversified Portfolio funds. MKAM is actively managed, while CVY is passively managed. Over the past 3 years, MKAM returned 8.98%/yr vs 14.62%/yr for CVY. Their 0.55 correlation means they have sometimes moved together and sometimes differently. MKAM charges 0.96%/yr vs 1.21%/yr for CVY.

Performance

MKAM vs. CVY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MKAM ETF (MKAM) and Invesco Zacks Multi-Asset Income ETF (CVY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKAM achieves a 5.01% return, which is significantly lower than CVY's 15.51% return.

MKAM

• 1D: 0.43%
• 1M: 0.27%
• 6M: 4.25%
• YTD: 5.01%
• 1Y: 11.33%
• 3Y*: 8.98%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.02%

CVY

• 1D: -0.27%
• 1M: 3.22%
• 6M: 10.58%
• YTD: 15.51%
• 1Y: 22.82%
• 3Y*: 14.62%
• 5Y*: 9.27%
• 10Y*: 8.99%
• ALL TIME*: 6.01%

*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)
CVY Invesco Zacks Multi-Asset Income ETF	$104.32K	$103.88K	$109.40K
MKAM MKAM ETF	$12.79K	$11.64K	$13.61K

MKAM vs. CVY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MKAM MKAM ETF	5.01%	8.07%	12.15%	7.69%
CVY Invesco Zacks Multi-Asset Income ETF	15.51%	11.00%	10.28%	14.39%

Correlation

The correlation between MKAM and CVY is 0.55, 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.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (All Time) Calculated using the full available price history since Apr 12, 2023	0.55

The correlation between MKAM and CVY has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.

Return for Risk

MKAM vs. CVY — Risk / Return Rank

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

MKAM

MKAM Risk / Return Rank: 72
MKAM Sharpe Ratio Rank: 69
MKAM Sortino Ratio Rank: 67
MKAM Omega Ratio Rank: 69
MKAM Calmar Ratio Rank: 78
MKAM Martin Ratio Rank: 78

CVY

CVY Risk / Return Rank: 83
CVY Sharpe Ratio Rank: 85
CVY Sortino Ratio Rank: 86
CVY Omega Ratio Rank: 83
CVY Calmar Ratio Rank: 80
CVY Martin Ratio Rank: 78

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.

MKAM vs. CVY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MKAM ETF (MKAM) and Invesco Zacks Multi-Asset Income ETF (CVY). 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.

	MKAM	CVY	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.01	-0.41
Sortino ratio: Return per unit of downside risk	2.21	2.88	-0.67
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.81	2.92	-0.11
Martin ratio: Return relative to average drawdown	9.91	10.01	-0.10

MKAM vs. CVY - Sharpe Ratio Comparison

The current MKAM Sharpe Ratio is 1.59, which is comparable to the CVY Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of MKAM and CVY, 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

MKAM vs. CVY - Drawdown Comparison

The maximum MKAM drawdown since its inception was -5.01%, smaller than the maximum CVY drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for MKAM and CVY.

Drawdown Indicators

	MKAM	CVY	Difference
Max Drawdown Largest peak-to-trough decline	-5.01%	-66.86%	+61.85%
Max Drawdown (1Y) Largest decline over 1 year	-3.72%	-7.43%	+3.71%
Max Drawdown (3Y) Largest decline over 3 years	-5.01%	-16.79%	+11.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.47%	—
Current Drawdown Current decline from peak	-0.47%	-0.97%	+0.50%
Average Drawdown Average peak-to-trough decline	-1.12%	-10.33%	+9.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.05%	2.16%	-1.11%

Volatility

MKAM vs. CVY - Volatility Comparison

The current volatility for MKAM ETF (MKAM) is 1.83%, while Invesco Zacks Multi-Asset Income ETF (CVY) has a volatility of 3.00%. This indicates that MKAM experiences smaller price fluctuations and is considered to be less risky than CVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKAM	CVY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	3.00%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	4.69%	7.79%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	6.57%	10.82%	-4.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	16.06%	-9.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.29%	19.46%	-13.17%

MKAM vs. CVY - Expense Ratio Comparison

MKAM has a 0.96% expense ratio, which is lower than CVY's 1.21% expense ratio.

Dividends

MKAM vs. CVY - Dividend Comparison

MKAM's dividend yield for the trailing twelve months is around 2.67%, less than CVY's 4.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CVY Invesco Zacks Multi-Asset Income ETF	4.11%	3.99%	4.07%	4.41%	5.18%	2.37%	3.40%	3.22%	4.44%	3.94%	4.50%	5.89%
MKAM MKAM ETF	2.67%	2.56%	1.88%	1.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKAM and CVY in my portfolio?

MKAM and CVY 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.

Which is riskier, MKAM or CVY?

CVY has higher volatility (3.00%) compared to MKAM (1.83%). In terms of maximum drawdown, MKAM dropped -5.01% vs CVY's -66.86%.

Which ETF is better, MKAM or CVY?

On 3-year performance, CVY leads with 14.62% vs 8.98% for MKAM. On fees, MKAM is cheaper at 0.96% per year. On volatility, MKAM has been the lower-risk option at 1.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MKAM or CVY?

Over the 3-year period, CVY has performed better with a 14.62% return vs 8.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MKAM or CVY?

MKAM is cheaper with a 0.96% expense ratio, compared with 1.21% for CVY.

Which ETF pays a higher dividend yield, MKAM or CVY?

CVY has the higher dividend yield at 4.11%, compared with 2.67% for MKAM.

What is the main difference between MKAM and CVY?

They also come from different issuers: MKAM and Invesco. Their fees differ too: 0.96% for MKAM and 1.21% for CVY.

Which has better risk-adjusted returns?

CVY currently has the higher Sharpe Ratio (2.01 vs 1.59), 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.