CVRTvsGMMFETF Comparison
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Calamos Convertible Equity Alternative ETF (CVRT) belongs to the Convertible Bonds segment. iShares Government Money Market ETF (GMMF) is part of the Money Market Bonds segment. CVRT's top 3 sector exposures are Technology, Healthcare and Industrials. In contrast, GMMF's top sector exposures are Sovereign and Government Agencies. CVRT is more expensive with a Total Expense Ratio (TER) of 0.69%, versus 0.2% for GMMF. CVRT is up 13.21% year-to-date (YTD) with +$21M in YTD flows. GMMF performs worse with 3% YTD performance, and +$100M in YTD flows. Run a side-by-side ETF comparison of CVRT and GMMF below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CVRT vs GMMF performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/04/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CVRT GMMF | -10.20%+0.32% | -13.12%+0.92% | +13.21%+3.00% | +15.53%+3.61% | +89.16%n/a | n/an/a |
| Flows | CVRT GMMF | -$2M-$1K | +$10M+$6M | +$21M+$100M | +$25M+$111M | +$27M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CVRT GMMF | +19.51%+0.10% | +24.15%+0.10% | +20.09%n/a | n/an/a |
| Max drawdown | CVRT GMMF | -14.58%n/a | -21.03%n/a | -21.03%n/a | n/an/a |
| Max drawdown duration | CVRT GMMF | 79dn/a | 155dn/a | 155dn/a | n/an/a |
Trading data
CVRT | GMMF | |
Last sale 11/4/2026 at 8:30 PM | $42.39 | |
| Previous close 11/04/2026 | $42.49 | |
| Consolidated volume 11/04/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 11/4/2026 at 8:30 PM
Live
Closed
CVRT | GMMF | |
|---|---|---|
| Last price | $42.39 | – |
| 1D performance | -0.25% | – |
| AuM | $36.14 M | $191.49 M |
| E/R | 0.69% | 0.2% |
Characteristics
CVRT | GMMF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Calamos Investments | iShares |
| Benchmark | - | - |
| N° of holdings | 84 | 121 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 4, 2023 | February 4, 2025 |
| ESG | No | No |
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Exposure
Countries
CVRT
USA
86.41%
Other
13.59%
GMMF
USA
88.01%
Other
11.99%
Sectors
CVRT
Technology
40.99%
Healthcare
11.15%
Industrials
10.95%
Finance
9.02%
Utilities
7.08%
Other
20.82%
GMMF
Sovereign
67.88%
Government Agenci.
20.13%
Other
11.99%
Diversification
CVRT
Total weight of top 15 holdings out of 15
45.66%
GMMF
Total weight of top 15 holdings out of 15
61.67%
Top 15 holdings
Data as of September 30, 2026
CVRT
Alphabet, Inc.
5.04%
Alphabet, Inc.
4.98%
The Boeing Co.
4.82%
US55024UAK51
4.79%
Super Micro Computer, Inc.
3.74%
Hewlett Packard Enterprise Co.
3.58%
Oracle Corp.
3.14%
Bloom Energy, 0% 15nov2030, USD (Conv.)
2.97%
Cloudflare, 0% 15jun2030, USD (Conv.)
2.29%
MKS Inc., 1.25% 1jun2030, USD (Conv.)
1.92%
Snowflake, 0% 1oct2029, USD (Conv.)
1.91%
Snowflake, 0% 1oct2027, USD (Conv.)
1.76%
CyberArk Software, 0% 15jun2030, USD (Conv.)
1.64%
Akamai Technologies, 0.25% 15may2033, USD (Conv.)
1.62%
Albemarle Corp.
1.49%
GMMF
USA, Bills 0% 6oct2026, USD (119D)
10.30%
USA, Bills 0% 3nov2026, USD (119D)
8.95%
USA, Bills 0% 1oct2026, USD (364D)
8.45%
USA, Bills 0% 20oct2026, USD (119D)
5.66%
USA, Bills 0% 17nov2026, USD (119D)
5.51%
USA, Bills 0% 29oct2026, USD (364D)
5.21%
USA, Bills 0% 24dec2026, USD (363D)
3.59%
USA, Bills 0% 10dec2026, USD (182D)
2.07%
USA, Bills 0% 28jan2027, USD (182D)
1.91%
FHLB, FRN 22oct2026, USD
1.89%
FHLB, FRN 13oct2026, USD
1.84%
USA, Notes FRN 30apr2028, USD (BB-2028)
1.84%
US912797WL77
1.70%
USA, Bills 0% 5nov2026, USD (182D)
1.52%
US912797WF00
1.24%
Frequently asked questions about CVRT and GMMF
How have the CVRT and GMMF ETFs performed in 2026?
As of November 4, 2026, CVRT is up 13.21% year-to-date (YTD), while GMMF has returned 3%. That puts CVRT better performer ahead so far this year.
Which ETF is attracting more investor money: CVRT or GMMF?
Year-to-date, the CVRT ETF saw +$21M in flows, compared to +$100M for GMMF.
Which ETF is more volatile: CVRT or GMMF?
Over the past year, CVRT had a volatility of 24.15%, while GMMF experienced 0.1%.
Which ETF is bigger: CVRT or GMMF?
As of November 4, 2026, CVRT holds $36.14 M in assets under management (AUM), while GMMF manages $191.49 M.
What sectors do the CVRT and GMMF ETFs invest in?
CVRT leans toward sectors like Technology, Healthcare and Industrials. Meanwhile, GMMF focuses on Sovereign and Government Agencies.
What are the top holdings of the CVRT ETF and GMMF ETF?
CVRT top holdings include Alphabet, Inc., Alphabet, Inc. and The Boeing Co.. GMMF holds in its top three: USA, Bills 0% 6oct2026, USD (119D), USA, Bills 0% 3nov2026, USD (119D) and USA, Bills 0% 1oct2026, USD (364D).
Which ETF is more diversified: CVRT or GMMF?
CVRT holds 94 securities with 45.66% of its assets in the top 15. GMMF has 153 securities and a top 15 weight of 61.67%.
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