PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

YieldMax CVNA Option Income Strategy ETF (CVNY) Sharpe Ratio: 0.12

ETF · Currency in USD · Last updated Jun 25, 2026

The YieldMax™ CVNA Option Income Strategy ETF (CVNY) is an actively managed fund that seeks to generate monthly income by selling call options on CVNA, aiming to harvest compelling yields while retaining capped participation in CVNA's price gains. Its primary objective is to seek current income, with a secondary objective of gaining exposure to Carvana Co's stock price within limits on potential gains.

CVNY's Sharpe Ratio of 0.12 indicates that for each unit of volatility, it generates 0.12 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 25, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

CVNY Sharpe Ratio Rank

CVNY Sharpe Ratio Rank: 10.511
Concerning

CVNY ranks above 10.5% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

CVNY Sharpe Ratio Market Positioning

The chart shows CVNY's Sharpe Ratio relative to all ETFs on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.82 or lower
  • Yellow zone (middle 50%): 0.82 to 2.11
  • Green zone (top 25%): 2.11 or higher
  • Top 1%: 7.01+
  • Median: 1.53 — half of all investments score higher

How it compares to other similar ETFs

The table compares YieldMax CVNA Option Income Strategy ETF's Sharpe Ratio with other ETFs in the Derivative Income category across multiple time periods, showing how CVNY's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 25, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
CHPYYieldMax Semiconductor Portfolio Option Income ETF3.94
GOOYYieldMax GOOGL Option Income Strategy ETF3.44
AMDYYieldMax AMD Option Income Strategy ETF3.42
GOOPKurv Yield Premium Strategy Google ETF3.05
THTASoFi Enhanced Yield ETF2.85
TSMYYieldMax TSM Option Income Strategy ETF2.57
FTQIFirst Trust Nasdaq BuyWrite Income ETF2.48
IWMINEOS Russell 2000 High Income ETF2.31
XYLDGlobal X S&P 500 Covered Call ETF2.28
BUCKSimplify Treasury Option Income ETF2.27
CVNYYieldMax CVNA Option Income Strategy ETF0.12

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows CVNY's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when CVNY consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

Loading charts...

Sharpe Ratio Calculator

How does CVNY fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

Analyze Your Portfolio