Amplify CWP Enhanced Dividend Income ETF (DIVO) is a ETF from Amplify ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year DIVO returned +17.24% while SPY returned +21.37%. Year to date, DIVO is up 8.35% versus a gain of 11.49% for SPY.

Over three years, DIVO compounded at +15.01% per year against +20.76% for SPY; over five years the annualized figures are +10.64% and +12.94% respectively. Across the full 10-year window we track, DIVO has the edge at +9.94% annualized vs +8.78%. Past performance does not guarantee future results.

SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.6% for DIVO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.

The deepest peak-to-trough decline in our data was -31.7% for DIVO and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.

The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.

DIVO charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, DIVO currently yields 6.89% against 1.01% for SPY.