WLDR vs. CVRT

Last updated Jul 12, 2026

WLDR (Affinity World Leaders Equity ETF) and CVRT (Calamos Convertible Equity Alternative ETF) are both exchange-traded funds - WLDR is a Global Equities fund tracking the Thomson Reuters StarMine Affinity World Leaders Index, while CVRT is a Convertible Bonds fund actively managed by Calamos. WLDR is passively managed, while CVRT is actively managed. Over the past year, WLDR returned 50.96% vs 53.64% for CVRT. A 0.72 correlation means they provide meaningful diversification when combined. WLDR charges 0.67%/yr vs 0.69%/yr for CVRT.

Performance

WLDR vs. CVRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Affinity World Leaders Equity ETF (WLDR) and Calamos Convertible Equity Alternative ETF (CVRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with WLDR having a 29.78% return and CVRT slightly higher at 30.73%.

WLDR

• 1D: -0.20%
• 1M: 1.35%
• 6M: 25.70%
• YTD: 29.78%
• 1Y: 50.96%
• 3Y*: 30.20%
• 5Y*: 18.46%
• 10Y*: —

CVRT

• 1D: -0.61%
• 1M: -2.50%
• 6M: 24.70%
• YTD: 30.73%
• 1Y: 53.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WLDR vs. CVRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WLDR Affinity World Leaders Equity ETF	29.78%	31.24%	22.74%	11.83%
CVRT Calamos Convertible Equity Alternative ETF	30.73%	29.37%	13.23%	11.44%

Correlation

The correlation between WLDR and CVRT is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.72

The correlation between WLDR and CVRT has been stable across timeframes, ranging from 0.72 to 0.72 - a consistent structural relationship.

Return for Risk

WLDR vs. CVRT — Risk / Return Rank

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

WLDR

WLDR Risk / Return Rank: 94
WLDR Sharpe Ratio Rank: 95
WLDR Sortino Ratio Rank: 94
WLDR Omega Ratio Rank: 92
WLDR Calmar Ratio Rank: 94
WLDR Martin Ratio Rank: 94

CVRT

CVRT Risk / Return Rank: 88
CVRT Sharpe Ratio Rank: 89
CVRT Sortino Ratio Rank: 83
CVRT Omega Ratio Rank: 83
CVRT Calmar Ratio Rank: 94
CVRT Martin Ratio Rank: 92

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.

WLDR vs. CVRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Affinity World Leaders Equity ETF (WLDR) and Calamos Convertible Equity Alternative ETF (CVRT). 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.

	WLDR	CVRT	Difference
Sharpe ratio: Return per unit of total volatility	2.96	2.32	+0.64
Sortino ratio: Return per unit of downside risk	3.93	2.95	+0.98
Omega ratio: Gain probability vs. loss probability	1.50	1.39	+0.10
Calmar ratio: Return relative to maximum drawdown	5.66	5.71	-0.05
Martin ratio: Return relative to average drawdown	21.25	18.25	+3.00

WLDR vs. CVRT - Sharpe Ratio Comparison

The current WLDR Sharpe Ratio is 2.96, which is comparable to the CVRT Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of WLDR and CVRT, 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

WLDR vs. CVRT - Drawdown Comparison

The maximum WLDR drawdown since its inception was -44.69%, which is greater than CVRT's maximum drawdown of -20.71%. Use the drawdown chart below to compare losses from any high point for WLDR and CVRT.

Drawdown Indicators

	WLDR	CVRT	Difference
Max Drawdown Largest peak-to-trough decline	-44.69%	-20.71%	-23.98%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-9.41%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-20.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.77%	—	—
Current Drawdown Current decline from peak	-2.35%	-8.33%	+5.98%
Average Drawdown Average peak-to-trough decline	-8.55%	-3.16%	-5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.94%	-0.58%

Volatility

WLDR vs. CVRT - Volatility Comparison

Affinity World Leaders Equity ETF (WLDR) and Calamos Convertible Equity Alternative ETF (CVRT) have volatilities of 7.56% and 7.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLDR	CVRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	7.38%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	18.96%	-4.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.93%	23.14%	-6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	20.34%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	20.34%	+0.69%

WLDR vs. CVRT - Expense Ratio Comparison

WLDR has a 0.67% expense ratio, which is lower than CVRT's 0.69% expense ratio.

Dividends

WLDR vs. CVRT - Dividend Comparison

WLDR's dividend yield for the trailing twelve months is around 7.17%, more than CVRT's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CVRT Calamos Convertible Equity Alternative ETF	1.52%	1.68%	1.49%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%
WLDR Affinity World Leaders Equity ETF	7.17%	9.01%	13.99%	2.28%	2.10%	7.55%	1.80%	2.48%	2.82%

Frequently Asked Questions

Can I hold both WLDR and CVRT in my portfolio?

WLDR and CVRT have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WLDR or CVRT?

WLDR has higher volatility (7.56%) compared to CVRT (7.38%). In terms of maximum drawdown, WLDR dropped -44.69% vs CVRT's -20.71%.

Which ETF is better, WLDR or CVRT?

On 1-year performance, CVRT leads with 53.64% vs 50.96% for WLDR. On fees, WLDR is cheaper at 0.67% per year. On volatility, CVRT has been the lower-risk option at 7.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WLDR or CVRT?

Over the 1-year period, CVRT has performed better with a 53.64% return vs 50.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WLDR or CVRT?

WLDR is cheaper with a 0.67% expense ratio, compared with 0.69% for CVRT.

Which ETF pays a higher dividend yield, WLDR or CVRT?

WLDR has the higher dividend yield at 7.17%, compared with 1.52% for CVRT.

What is the main difference between WLDR and CVRT?

WLDR is categorized as Global Equities, while CVRT is Convertible Bonds. They also come from different issuers: Regents Park Funds and Calamos. Their fees differ too: 0.67% for WLDR and 0.69% for CVRT.

Which has better risk-adjusted returns?

WLDR currently has the higher Sharpe Ratio (2.96 vs 2.32), 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.