YieldMax Short NVDA Option Income Strategy ETF (DIPS) belongs to the Derivative Income category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with DIPS. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to DIPS
DIPS charges 0.99% annually. There are 146 ETFs in the Derivative Income category with lower expense ratios, going as low as 0.10%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Parametric Equity Plus ETF | 0.10% | 29.28M | Nov 2024 | DIPS vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 45.73M | Sep 2024 | DIPS vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 324.77M | Mar 2024 | DIPS vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | DIPS vs FYEE | |
| Invesco QQQ Income Advantage ETF | 0.29% | 787.43M | Jul 2024 | DIPS vs QQA |
Best Risk-Adjusted Alternatives to DIPS
DIPS has a PortfoliosLab risk / return rank of 6. There are 145 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 96 | 474.96M | Oct 2022 | DIPS vs BUCK | |
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | DIPS vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 246.95M | Jul 2023 | DIPS vs GOOY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 91 | 1.16B | Apr 2025 | DIPS vs CHPY | |
| First Trust Nasdaq BuyWrite Income ETF | 91 | 938.31M | Jan 2014 | DIPS vs FTQI |
Top Performing DIPS Alternatives (YTD)
DIPS is at -6.21% YTD. There are 174 ETFs in the Derivative Income category with higher YTD returns, going as high as 163.57%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill AMD WeeklyPay ETF | 163.57% | 116.76M | Jul 2025 | DIPS vs AMDW | |
| Roundhill ARM WeeklyPay ETF | 161.70% | 27.86M | Oct 2025 | DIPS vs ARMW | |
| YieldMax AMD Option Income Strategy ETF | 97.19% | 443.39M | Sep 2023 | DIPS vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 80.55% | 127.56M | Oct 2023 | DIPS vs MRNY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 63.11% | 1.16B | Apr 2025 | DIPS vs CHPY |
Lowest Volatility Alternatives to DIPS
DIPS has 28.86% 1-year volatility. There are 188 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.74%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.74% | 474.96M | Oct 2022 | DIPS vs BUCK | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.38% | 206.17M | Apr 2026 | DIPS vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.87% | 88.48M | Feb 2025 | DIPS vs HYTI | |
| Main Buywrite ETF | 4.84% | 1.26B | Dec 2015 | DIPS vs BUYW | |
| GraniteShares YieldBOOST 20Y+ Treasuries ETF | 4.95% | 726.94K | May 2026 | DIPS vs FIYY |
Lowest Drawdown Alternatives to DIPS
DIPS has a 1-year max drawdown of -26.20%. There are 125 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -0.84%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -0.84% | 474.96M | Oct 2022 | DIPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 88.48M | Feb 2025 | DIPS vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.26B | Dec 2015 | DIPS vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | DIPS vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | DIPS vs OMAH |
Other ETFs from YieldMax
The 10 most viewed YieldMax ETFs shown here include MSTY, ULTY, YMAX and span 6 categories. AUM among these funds goes as high as $1B.
Often Compared With DIPS
Investors most often compare DIPS with NVDA, TSMY, SPUT. These 20 comparison targets span 7 categories, based on PortfoliosLab usage data.
Compare DIPS with Any Fund or Stock
Compare DIPS with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair DIPS with funds that move differently
YieldMax Short NVDA Option Income Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to DIPS.
Explore DIPS Diversifiers