PUTW vs. CVRD

Last updated Jul 17, 2026

PUTW (WisdomTree Equity Premium Income Fund) and CVRD (Madison Covered Call ETF) are both Derivative Income funds. PUTW is passively managed, while CVRD is actively managed. At a 0.45 correlation, their price movements are largely independent. PUTW charges 0.44%/yr vs 0.90%/yr for CVRD.

Performance

PUTW vs. CVRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Equity Premium Income Fund (PUTW) and Madison Covered Call ETF (CVRD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PUTW

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVRD

• 1D: 0.46%
• 1M: 0.08%
• 6M: -0.64%
• YTD: 1.89%
• 1Y: 4.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PUTW vs. CVRD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PUTW WisdomTree Equity Premium Income Fund	0.00%	-2.80%	17.19%	3.34%
CVRD Madison Covered Call ETF	1.89%	5.94%	4.90%	4.74%

Correlation

The correlation between PUTW and CVRD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.45

PUTW vs. CVRD - Sectors Allocation Comparison

Sectors	PUTW	CVRD
Basic Materials	-	2.2%
Communication Services	-	7.9%
Consumer Cyclical	-	9.0%
Consumer Defensive	-	10.1%
Energy	-	5.9%
Healthcare	-	12.4%
Industrials	-	8.5%
Real Estate	-	3.0%
Technology	-	26.7%
Utilities	-	2.4%
Financial Services	-0.0%	12.2%

Return for Risk

PUTW vs. CVRD — Risk / Return Rank

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

PUTW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CVRD

CVRD Risk / Return Rank: 19
CVRD Sharpe Ratio Rank: 18
CVRD Sortino Ratio Rank: 16
CVRD Omega Ratio Rank: 16
CVRD Calmar Ratio Rank: 21
CVRD Martin Ratio Rank: 22

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.

PUTW vs. CVRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Equity Premium Income Fund (PUTW) and Madison Covered Call ETF (CVRD). 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.

	PUTW	CVRD	Difference
Sharpe ratio: Return per unit of total volatility	—	0.45	—
Sortino ratio: Return per unit of downside risk	—	0.69	—
Omega ratio: Gain probability vs. loss probability	—	1.09	—
Calmar ratio: Return relative to maximum drawdown	—	0.77	—
Martin ratio: Return relative to average drawdown	—	2.01	—

Drawdowns

Drawdown Indicators

	PUTW	CVRD	Difference
Max Drawdown Largest peak-to-trough decline	—	-17.95%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-5.72%	—
Current Drawdown Current decline from peak	—	-2.38%	—
Average Drawdown Average peak-to-trough decline	—	-2.06%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.19%	—

Volatility

Volatility by Period

	PUTW	CVRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.73%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	11.72%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	11.72%	—

PUTW vs. CVRD - Expense Ratio Comparison

PUTW has a 0.44% expense ratio, which is lower than CVRD's 0.90% expense ratio.

Dividends

PUTW vs. CVRD - Dividend Comparison

PUTW has not paid dividends to shareholders, while CVRD's dividend yield for the trailing twelve months is around 7.74%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CVRD Madison Covered Call ETF	7.74%	7.63%	15.70%	1.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PUTW WisdomTree Equity Premium Income Fund	0.00%	4.16%	11.99%	7.63%	2.16%	0.00%	1.43%	1.47%	5.49%	3.33%	2.27%

Frequently Asked Questions

Can I hold both PUTW and CVRD in my portfolio?

PUTW and CVRD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.