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 129 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% | 27.28M | Nov 2024 | DIPS vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 292.36M | Mar 2024 | DIPS vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | DIPS vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | DIPS vs FYEE | |
| Invesco QQQ Income Advantage ETF | 0.29% | 749.48M | Jul 2024 | DIPS vs QQA |
Best Risk-Adjusted Alternatives to DIPS
DIPS has a PortfoliosLab risk / return rank of 2. There are 131 ETFs in the Derivative Income category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 97 | 1.02B | Apr 2025 | DIPS vs CHPY | |
| SoFi Enhanced Yield ETF | 92 | 34.73M | Nov 2023 | DIPS vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 298.09M | Jul 2023 | DIPS vs GOOY | |
| Global X NASDAQ 100 Covered Call ETF | 88 | 8.41B | Dec 2013 | DIPS vs QYLD | |
| YieldMax TSM Option Income Strategy ETF | 88 | 117.86M | Aug 2024 | DIPS vs TSMY |
Top Performing DIPS Alternatives (YTD)
DIPS is at -8.73% YTD. There are 177 ETFs in the Derivative Income category with higher YTD returns, going as high as 363.23%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 363.23% | 14.71M | Oct 2025 | DIPS vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 192.40% | 90.88M | Jul 2025 | DIPS vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 85.77% | 1.02B | Apr 2025 | DIPS vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 62.18% | 62.15M | May 2024 | DIPS vs USOY | |
| YieldMax MRNA Option Income Strategy ETF | 51.59% | 82.87M | Oct 2023 | DIPS vs MRNY |
Lowest Volatility Alternatives to DIPS
DIPS has 27.88% 1-year volatility. There are 158 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dividend Performers ETF | 0.00% | 20.88M | Dec 2018 | DIPS vs IPDP | |
| Simplify Treasury Option Income ETF | 3.14% | 438.06M | Oct 2022 | DIPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.83% | 90.68M | Feb 2025 | DIPS vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.21B | Dec 2015 | DIPS vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.10% | 287.53M | Feb 2025 | DIPS vs LQTI |
Lowest Drawdown Alternatives to DIPS
DIPS has a 1-year max drawdown of -33.97%. There are 113 ETFs in the Derivative Income category with shallower 1-year drawdowns, going as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 438.06M | Oct 2022 | DIPS vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | DIPS vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | 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 4 categories. AUM among these funds goes as high as $1B.
Often Compared With DIPS
Investors most often compare DIPS with NVDA, DIVO, SPUT. These 20 comparison targets span 8 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