CVY vs DINE

CVYCInvesco Zacks Multi-Asset Income ETF

DINECSimplify Tax Aware Diversified Income Strategy ETF

In short

CVY One of the original multi-asset income ETFs, listed back in 2006: a single ticker that pulls income from dividend stocks, ADRs, REITs, MLPs, closed-end funds and preferreds, assembled by a Zacks model.

DINE Most income funds hand you ordinary income and a tax bill. DINE routes bond, options, equity and currency income sleeves through year-plus swaps so gains can qualify as long-term capital gains. 0.15% net of a waiver through April 5, 2027.

Stated mandate

CVY The Fund is based on the Zacks Multi-Asset Income Index and invests at least 90% of its assets in securities and depositary receipts included in that Index.

DINE DINE seeks capital appreciation through a diversified portfolio of income-based strategies, including fixed income, option-based, equity-income, and currency-income approaches, with tax-management techniques intended to reduce tax impact.

Why people hold it

• CVY Six income sleeves in one ticker: US dividend payers, dividend-paying ADRs, REITs, MLPs, closed-end funds and traditional preferreds, spread across roughly 150 positions.invesco.com
• Listed in September 2006, which makes it one of the longest-running funds in a small multi-asset income category that most issuers only got around to later.
• Sticks to its label: at least 90% of assets sit in securities and depositary receipts from the Zacks Multi-Asset Income Index, with no quiet drift into something else.invesco.com
• Pays income quarterly, and the portfolio build is one of the stronger ones in its peer group: income spread across many names, not stacked on a handful.

• DINE Cheapest headline fee among the category's leaders: 0.15% net of a waiver through April 5, 2027 (0.25% gross), against 0.38% for INCM and 0.50% for IYLD, INKM and ALTY.simplify.us
• Instead of holding positions directly, it takes exposure via swaps on Simplify ETFs with tenors of at least one year, so gains at expiration can be eligible for long-term capital gains treatment.simplify.us
• Four income engines in one line item: enhanced core fixed income, option-based income, equity income and foreign currency income, actively run by Simplify.simplify.us

Worth knowing

• CVY At 1.15% a year, with no fee waiver in place, it sits above the category median and well above the cheapest peers here (INCM at 0.38%, IYLD at 0.50%).
• Thinly traded and modest in assets, so wider spreads are more likely than with household-name income funds. Order type and timing matter more.
• Multi-asset does not mean mellow: REITs, MLPs and closed-end funds carry rate and leverage sensitivity, and the mix has moved more like equities than like a bond fund.invesco.com

• DINE Launched in 2026, it is a small, thinly traded fund, so spreads can be wider than the category's long-running names and there is little history to judge.
• Swaps instead of direct holdings means counterparty and derivatives risk, and the tax design leans on holding those swaps to expiration under current tax rules.simplify.us
• The stated goal is capital appreciation and payouts come annually or semiannually, not monthly, so this is not a steady-paycheck vehicle.

Full CVY profile⁠

Full DINE profile⁠