CVY vs DTMGX Fund Comparison

A comparison between CVY and DTMGX based on their expense ratio, growth, holdings and how well they match their benchmark performance.

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Minafi's Take on CVY vs DTMGX

Here's an in depth look at the differences between Invesco Zacks Multi-Asset Income ETF($CVY) and BNY Mellon Tax Managed Growth Fund Class A($DTMGX).

To start off, here's a look at the basics of each fund. Keep an eye on the FI Score. That's a custom score from 0 to 100 that we generate based on how good this fund is for the casual investor. Most investors only need a handful of total funds in their portfolio. The higher the score, the more likely this is one of those few. Score alone isn't enough! Keep reading on to see how different (or perhaps similar) these two funds are.

  • cvy
  • ETF
  • Allocation
  • All-In-One

Invesco Zacks Multi-Asset Income ETF

Expenses: 0.97% (Better than 0% of similar funds)

This is a bad choice for a All-In-One Allocation fund. See why »

  • dtmgx
  • Mutual Fund
  • US Stocks
  • Large Blend

BNY Mellon Tax Managed Growth Fund Class A

Expenses: 1.20% (Better than 0% of similar funds)

This is a bad choice for a Large Blend US Stocks fund. See why »

$CVY is classified as an ETF while $DTMGX is classified as a Mutual Fund. Even though one of these is a mutual fund and the other is an ETF, that doesn't matter too much for their holdings. Both ETFs and mutual funds are just containers to hold lots of investments inside of them.

The biggest differences between these two is where they may be offered. ETFs are more widely availble from a larger number of investment apps and websites. Mutual funds, on the other hand, are generally offered by the platform they're issued by (Fidelity funds on Fidelity, Vanguard funds on Vanguard). Usually 401(k)'s will offer both ETFs and Mutual Funds. If you're investing outside of a 401(k), I'd recommend you verify the fees associated with ETF and mutual fund transactions. Some platforms charge an additional fee to purchase a mutual fund.

To learn more about the difference between these two, you can read about the difference between ETFs and Mutual Funds.

When evaluating a fund, the first things I look at are:

  • What it invests in
  • How much it charges in fees
  • How large the fund is

Let's look into these criteria one by one and see if either of these funds stands out.

Fund Holdings Comparison

Minafi's FI Score algorithm takes into account the category and market. The more niche a fund is, the lower the score. This doesn't mean it's a worse fund, but it does mean you should stop and make sure this a fund you need to diversify your portfolio.

CVYDTMGX
Market Score 2.4 /10 2.2 /10
Category Score 5.0 /10 10.0 /10
Total7.412.2

A score of 10 means this is a solid market and category that almost every investor will want to have investments in. The lower the score, the more specific the investment. These scores are based on when most investors would add these funds to their portfolio. A score of 10 means that this fund (or one like it) belongs in a three-fund portfolio. The lower the score, the farther down in your portfolio a fund would go.

Winner: $DTMGX

Fee Comparison

Fees are one of the biggest killers of portfolio growth. The difference between a 2% fee and a 0.04% fee over 30 years can result in your portfolio having half the total value!

If you're just getting started investing and learning how fees impact your portfolio, I'd encourage you to read through my free investment course (specifically '2.2 - All About Fees') where I go over all the different types of fees you can be charged and how to lower them.

For these two funds, CVY has an expense ratio of 0.97% while DTMGX has an expense ratio of 1.20%. In this case, both of these funds have a similar fee.

Winner: $CVY (barely)

Fund Size Comparison

Both CVY and DTMGX have a similar number of assets under management. CVY has 124 Million in assets under management, while DTMGX has 108 Million.

Minafi categorizes both of these funds as small funds. Fund size is a good indication of how many other investors trust this fund. A large fund by itself doesn't mean it's a good fund, but it is one thing to consider when figuring out how to choose the right fund.

Winner: tie

Which Should You Choose? CVY or DTMGX?

Comparing these two funds isn't an apples to apples comparison. CVY is a AllocationAll-In-One fund, while DTMGX is a US StocksLarge Blend fund.

If you're aiming to build a diversified, low-fee, tax-optimized portfolio you likely won't be choosing between these two funds since they're different enough.

Running both of these funds through Minafi's FI Score algorithm, gives CVY a score of 28 and DTMGX a score of 27.

Winner: Neither, I'd research more funds if you're looking to invest for retirement.

$CVY

Invesco Zacks Multi-Asset Income ETF

28

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Ratings
Rating TypeRating
Diversification Score0/10
Expense Ratio Score5/10
Expense Rating0/10
Market Score2/10
Category Score5/10
Overview
OverviewDetails
Fund TypeETF
Inception DateSep-21-2006
ExchangeNYSE ARCA
Expense Ratio0.970%
Net Assets124 Million
Yield4.57%
Holdings
DescriptionInfo
MarketAllocation
CategoryAll-In-One
Sectors
  • Basic Materials 5.06%
  • Communication Services 5.39%
  • Consumer Cyclicals 1.52%
  • Consumer Defensive 0.00%
  • Energy 18.54%
  • Financial Services 45.07%
  • Healthcare 1.72%
  • Industrials 6.58%
  • Real Estate 12.67%
  • Technology 0.77%
  • Utilities 2.68%
Regions
  • Africa/Middle East 0.04%
  • Asia Developed 0.99%
  • Asia Emerging 0.14%
  • Australasia 0.07%
  • Europe Developed 6.27%
  • Europe Emerging 0.95%
  • Japan 1.24%
  • Latin America 3.34%
  • North America 83.93%
  • United Kingdom 3.04%

$DTMGX

BNY Mellon Tax Managed Growth Fund Class A

27

Read More
Ratings
Rating TypeRating
Expense Ratio Score3/10
Expense Rating0/10
Market Score2/10
Category Score10/10
Overview
OverviewDetails
Fund TypeMutual Fund
Inception DateNov-4-1997
ExchangeNMFQS
Expense Ratio1.200%
Net Assets108 Million
Yield0.77%
Holdings
DescriptionInfo
MarketUS Stocks
CategoryLarge Blend
Sectors
  • Basic Materials 2.57%
  • Communication Services 13.90%
  • Consumer Cyclical 8.98%
  • Consumer Defensive 15.60%
  • Energy 1.58%
  • Financial Services 17.44%
  • Healthcare 10.84%
  • Industrials 5.70%
  • Real Estate 0.00%
  • Technology 23.38%
  • Utilities 0.00%
Regions
  • Europe Developed 10.69%
  • North America 89.31%

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