SVOL vs. CVY
SVOL (Simplify Volatility Premium ETF) and CVY (Invesco Zacks Multi-Asset Income ETF) are both exchange-traded funds - SVOL is a Volatility fund actively managed by Simplify, while CVY is a Diversified Portfolio fund tracking the Zacks Multi-Asset Income Index. SVOL is actively managed, while CVY is passively managed. Over the past 5 years, SVOL returned 6.22%/yr vs 7.49%/yr for CVY. A 0.55 correlation means they provide meaningful diversification when combined. SVOL charges 0.50%/yr vs 1.21%/yr for CVY.
Performance
SVOL vs. CVY - Performance Comparison
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Returns By Period
In the year-to-date period, SVOL achieves a -0.84% return, which is significantly lower than CVY's 10.45% return.
SVOL
- 1D
- 1.14%
- 1M
- 1.70%
- YTD
- -0.84%
- 6M
- 0.96%
- 1Y
- 14.90%
- 3Y*
- 5.92%
- 5Y*
- 6.22%
- 10Y*
- —
CVY
- 1D
- 0.94%
- 1M
- 3.26%
- YTD
- 10.45%
- 6M
- 9.84%
- 1Y
- 18.64%
- 3Y*
- 15.39%
- 5Y*
- 7.49%
- 10Y*
- 8.96%
SVOL vs. CVY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SVOL Simplify Volatility Premium ETF | -0.84% | 2.41% | 6.77% | 22.88% | -3.30% | 12.70% |
CVY Invesco Zacks Multi-Asset Income ETF | 10.45% | 11.00% | 10.28% | 17.87% | -9.27% | 3.87% |
Correlation
The correlation between SVOL and CVY is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.55 |
The correlation between SVOL and CVY has been stable across timeframes, ranging from 0.49 to 0.55 - a consistent structural relationship.
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Return for Risk
SVOL vs. CVY — Risk / Return Rank
SVOL
CVY
SVOL vs. CVY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Volatility Premium ETF (SVOL) 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.
| SVOL | CVY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.29 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 2.46 | -1.66 |
| Martin ratioReturn relative to average drawdown | 1.90 | 8.22 | -6.32 |
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Drawdowns
SVOL vs. CVY - Drawdown Comparison
The maximum SVOL drawdown since its inception was -33.50%, smaller than the maximum CVY drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for SVOL and CVY.
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Drawdown Indicators
| SVOL | CVY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -66.86% | +33.36% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -7.43% | -5.58% |
Max Drawdown (3Y)Largest decline over 3 years | -33.50% | -16.79% | -16.71% |
Max Drawdown (5Y)Largest decline over 5 years | -33.50% | -21.58% | -11.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.47% | — |
Current DrawdownCurrent decline from peak | -3.40% | 0.00% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -10.40% | +5.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.50% | 2.21% | +3.29% |
Volatility
SVOL vs. CVY - Volatility Comparison
Simplify Volatility Premium ETF (SVOL) has a higher volatility of 3.48% compared to Invesco Zacks Multi-Asset Income ETF (CVY) at 3.13%. This indicates that SVOL's price experiences larger fluctuations and is considered to be riskier than CVY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SVOL | CVY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.48% | 3.13% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 7.89% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.81% | 11.04% | +9.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 16.22% | +5.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 19.55% | +2.35% |
SVOL vs. CVY - Expense Ratio Comparison
SVOL has a 0.50% expense ratio, which is lower than CVY's 1.21% expense ratio.
Dividends
SVOL vs. CVY - Dividend Comparison
SVOL's dividend yield for the trailing twelve months is around 22.19%, more than CVY's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 3.65% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
SVOL Simplify Volatility Premium ETF | 22.19% | 19.82% | 16.79% | 16.36% | 18.32% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SVOL and CVY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SVOL has higher volatility (3.48%) compared to CVY (3.13%). In terms of maximum drawdown, SVOL dropped -33.50% vs CVY's -66.86%.
On 5-year performance, CVY leads with 7.49% vs 6.22% for SVOL. On fees, SVOL is cheaper at 0.50% per year. On volatility, CVY has been the lower-risk option at 3.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CVY has performed better with a 7.49% return vs 6.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SVOL is cheaper with a 0.50% expense ratio, compared with 1.21% for CVY.
SVOL has the higher dividend yield at 22.19%, compared with 3.65% for CVY.
SVOL is categorized as Volatility, while CVY is Diversified Portfolio. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.50% for SVOL and 1.21% for CVY.
CVY currently has the higher Sharpe Ratio (1.65 vs 0.50), 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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