DIVO: Amplify CWP Enhanced Dividend Income ETF returns, drawdowns and risk
Funds that sell options on stocks or indices to pay a high monthly income, giving up part of the upside.
Data updated October 2026
DIVO · US exchange · USDCategory: Covered call and equity income ETFsData from December 2016
From December 2016 to October 2026 DIVO returned 12.6% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $32,278.
Its deepest fall was 30.0%, from January 2020 to March 2020, and it took about 7 months to get back to the previous high. Annual volatility was 14.7%; at the last close it was 1.5% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 118 months both have data, the correlation of monthly returns was 0.89: they usually moved together. Beta was 0.72. In months when SPY rose, DIVO moved 79% as much on average; in months when SPY fell, 75% as much.
Key figures
- Annual return (CAGR)
- +12.6%
- 1-year return
- +15.3%
- 5 years, a year
- +11.0%
- 10 years, a year
- —
- Annual volatility
- 14.7%
- Maximum drawdown
- −30.0%
- Sharpe ratio
- 0.73
- Worst year
- 2018: −3.2%
Trailing returns
| Period | DIVO | SPY |
|---|---|---|
| 1 year | +15.3% | +16.6% |
| 3 years, a year | +17.2% | +23.1% |
| 5 years, a year | +11.0% | +12.7% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: DIVO vs SPY
Month-end values from January 2017, the first month both funds have data.
DIVO drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | DIVO | SPY |
|---|---|---|
| 2026(partial) | +11.3% | +13.3% |
| 2025 | +17.4% | +17.7% |
| 2024 | +16.2% | +24.9% |
| 2023 | +7.0% | +26.2% |
| 2022 | −1.5% | −18.2% |
| 2021 | +22.9% | +28.7% |
| 2020 | +12.4% | +18.3% |
| 2019 | +24.9% | +31.2% |
| 2018 | −3.2% | −4.6% |
| 2017 | +21.4% | +21.7% |
| 2016(partial) | −0.6% | — |
DIVO compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of DIVO?
From December 2016 to October 2026 DIVO returned 12.6% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +11.0% a year. Over the last 12 months: +15.3%.
What was the worst drawdown of DIVO?
30.0%, from January 2020 to March 2020; it took about 7 months from the previous high to get back to it.
How volatile is DIVO?
Annual volatility was 14.7% over the period. Its worst month was −9.1% and 69% of months were positive. Worst calendar year: 2018 (−3.2%).
How closely does DIVO follow SPY?
Over 118 months the correlation of monthly returns was 0.89, so they usually moved together, with a beta of 0.72.
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Other Covered call and equity income ETFs
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.