YieldMax DKNG Option Income Strategy ETF (DRAY) 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 DRAY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to DRAY
DRAY charges 0.99% annually. There are 131 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 | DRAY vs PEPS | |
| State Street US Equity Premium Income ETF | 0.25% | 46.44M | Sep 2024 | DRAY vs SPIN | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 292.36M | Mar 2024 | DRAY vs IVVW | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 166.08M | Apr 2024 | DRAY vs FYEE | |
| Global X Treasury Bond Enhanced Income ETF | 0.29% | — | Jul 2025 | DRAY vs TLTX |
Best Risk-Adjusted Alternatives to DRAY
Among 144 ETFs in the Derivative Income category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 97 | 1.02B | Apr 2025 | DRAY vs CHPY | |
| YieldMax GOOGL Option Income Strategy ETF | 93 | 298.09M | Jul 2023 | DRAY vs GOOY | |
| SoFi Enhanced Yield ETF | 93 | 34.73M | Nov 2023 | DRAY vs THTA | |
| Global X NASDAQ 100 Covered Call ETF | 89 | 8.41B | Dec 2013 | DRAY vs QYLD | |
| YieldMax TSM Option Income Strategy ETF | 89 | 117.86M | Aug 2024 | DRAY vs TSMY |
Top Performing DRAY Alternatives (YTD)
DRAY is at -28.25% YTD. There are 226 ETFs in the Derivative Income category with higher YTD returns, going as high as 336.58%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 336.58% | 14.71M | Oct 2025 | DRAY vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 181.57% | 90.88M | Jul 2025 | DRAY vs AMDW | |
| YieldMax Semiconductor Portfolio Option Income ETF | 82.97% | 1.02B | Apr 2025 | DRAY vs CHPY | |
| Defiance Oil Enhanced Options Income ETF | 59.27% | 62.15M | May 2024 | DRAY vs USOY | |
| YieldMax MRNA Option Income Strategy ETF | 55.67% | 82.87M | Oct 2023 | DRAY vs MRNY |
Lowest Volatility Alternatives to DRAY
DRAY has 40.72% 1-year volatility. There are 204 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 | DRAY vs IPDP | |
| Simplify Treasury Option Income ETF | 3.14% | 438.06M | Oct 2022 | DRAY vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.82% | 90.68M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.21B | Dec 2015 | DRAY vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.12% | 287.53M | Feb 2025 | DRAY vs LQTI |
Lowest Drawdown Alternatives to DRAY
Among 148 ETFs in the Derivative Income category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -1.31%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | -1.31% | 438.06M | Oct 2022 | DRAY vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.68M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.21B | Dec 2015 | DRAY vs BUYW | |
| SoFi Enhanced Yield ETF | -2.64% | 34.73M | Nov 2023 | DRAY vs THTA | |
| VistaShares Target 15™ Berkshire Select Income ETF | -3.00% | 774.36M | Mar 2025 | DRAY vs OMAH |
Other ETFs from YieldMax
The 10 most viewed YieldMax ETFs shown here include MSTY, ULTY, YMAX and span 3 categories. AUM among these funds goes as high as $1B.
Often Compared With DRAY
Investors most often compare DRAY with GPIX, PBP, GOOP. These 8 comparison targets span 2 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Goldman Sachs S&P 500 Premium Income ETF | Derivative Income, S&P 500 | 79 | 10.24% | 4.25B | Oct 2023 | DRAY vs GPIX | |
| Invesco S&P 500 BuyWrite ETF | Derivative Income, S&P 500 | 83 | 5.03% | 344.74M | Dec 2007 | DRAY vs PBP | |
| Kurv Yield Premium Strategy Google ETF | Derivative Income | 88 | 17.17% | 22.71M | Oct 2023 | DRAY vs GOOP | |
| REX IncomeMax Option Strategy ETF | Derivative Income | — | 43.51% | 40.50M | Oct 2025 | DRAY vs ULTI | |
| Invesco QQQ Income Advantage ETF | Derivative Income | 77 | 14.23% | 749.48M | Jul 2024 | DRAY vs QQA | |
| REX CRWV Growth & Income ETF | Derivative Income | — | 35.03% | 2.95M | Nov 2025 | DRAY vs CWII | |
| Innovator Index Autocallable Income Strategy ETF | Derivative Income | — | — | — | Sep 2025 | DRAY vs ACII | |
| FT Vest Technology Dividend Target Income ETF | Derivative Income | 84 | 28.41% | — | Aug 2023 | DRAY vs TDVI |
Compare DRAY with Any Fund or Stock
Compare DRAY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair DRAY with funds that move differently
YieldMax DKNG Option Income Strategy ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to DRAY.
Explore DRAY Diversifiers