Generated April 2026 from current fund data.
Overview
DIVO and IDVO are both monthly-paying dividend ETFs from Amplify that use covered call overlays to boost income, but they operate in entirely different markets. DIVO invests in U.S. dividend-paying stocks and has been running since 2016, while IDVO targets international dividend payers via ADRs and is much newer (September 2022). The key distinction: DIVO captures domestic dividend growth; IDVO captures international dividend yield and currency exposure.
How they differ
The biggest difference is geography. DIVO holds U.S. equities; IDVO holds international large and mid-cap companies accessed through American Depositary Receipts. That shapes everything else: IDVO yields 5.91% versus DIVO's 4.84%, reflecting the higher dividend yields typical of international markets. Both use covered calls to generate additional income, but IDVO has a shorter track record (3.5 years vs. 9+ years for DIVO) and smaller assets under management ($1.0 billion vs. $6.6 billion). Both charge similar fees (0.65% for IDVO, 0.56% for DIVO), and both show identical beta of 0.66, suggesting their call strategies dampen volatility in similar ways.
IDVO's 52-week range reveals meaningful drawdown risk: it fell to $30.10 in 2025 from a high of $43.82, a 31% decline that suggests international markets and/or dividend sustainability pressures tested the fund during that period. DIVO's range was tighter (37.84 to 47.30, about 21% move), reflecting a more stable domestic equity base.
Who each is best for
- DIVO: Investors seeking steady U.S. dividend income with lower volatility and a longer operating history; comfortable holding in taxable accounts because monthly distributions are tax-efficient relative to total return.
- IDVO: Income-focused investors with risk tolerance for international markets and currency fluctuation; those seeking higher current yield and willing to accept a newer, less-proven fund structure and higher volatility.
Key risks to know
- Yield sustainability and NAV erosion. IDVO's 5.91% yield is materially higher than DIVO's, and higher yields from shorter-history funds warrant scrutiny. If underlying international dividend growth disappoints or currency headwinds persist, distributions may rely on return-of-capital treatment, eroding NAV over time.
- Covered call drag in rising markets. Both funds cap upside through call writing. If equity markets rally sharply, the call overlay will limit total returns relative to unhedged exposure — a known tradeoff for higher current income.
- International and currency risk (IDVO). Exposure to foreign equities and ADR structures introduces currency risk and geopolitical uncertainty absent in DIVO. IDVO's sharp 2025 drawdown signals sensitivity to these factors.
- Shorter track record (IDVO). IDVO launched in late 2022, so it has not yet weathered a full market cycle or extended dividend stress test like DIVO has.
Bottom line
If you prioritize stability, a long operating history, and moderate yield with lower volatility, DIVO is the clearer choice. If you're hunting for higher current income, tolerate international exposure and currency risk, and are willing to accept a newer fund with less-proven distribution durability, IDVO's 107 basis point yield premium may justify the tradeoffs. Neither fund is inherently superior — the choice hinges on geography preference and your tolerance for volatility. Past performance doesn't guarantee future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
