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 138 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% | 27.32M | Nov 2024 | DRAY vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 303.13M | Mar 2024 | DRAY vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 45.59M | Sep 2024 | DRAY vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 185.18M | Apr 2024 | DRAY vs FYEE | |
| Parametric Equity Premium Income ETF | 0.29% | 398.58M | Oct 2023 | DRAY vs PAPI |
Best Risk-Adjusted Alternatives to DRAY
Among 163 ETFs in the Derivative Income category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| YieldMax Semiconductor Portfolio Option Income ETF | 96 | 1.16B | Apr 2025 | DRAY vs CHPY | |
| SoFi Enhanced Yield ETF | 95 | 34.73M | Nov 2023 | DRAY vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 92 | 262.22M | Jul 2023 | DRAY vs GOOY | |
| YieldMax AMD Option Income Strategy ETF | 91 | 409.32M | Sep 2023 | DRAY vs AMDY | |
| Simplify Treasury Option Income ETF | 87 | 465.86M | Oct 2022 | DRAY vs BUCK |
Top Performing DRAY Alternatives (YTD)
DRAY is at -30.74% YTD. There are 225 ETFs in the Derivative Income category with higher YTD returns, going as high as 19,132.59%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| REX HOOD Growth & Income ETF | 19,132.59% | 1.44M | Nov 2025 | DRAY vs HOII | |
| REX CRWV Growth & Income ETF | 13,199.78% | 2.19M | Nov 2025 | DRAY vs CWII | |
| Roundhill ARM WeeklyPay ETF | 287.65% | 17.52M | Oct 2025 | DRAY vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 175.60% | 83.00M | Jul 2025 | DRAY vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 101.64% | 409.32M | Sep 2023 | DRAY vs AMDY |
Lowest Volatility Alternatives to DRAY
DRAY has 41.82% 1-year volatility. There are 215 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.98%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.98% | 465.86M | Oct 2022 | DRAY vs BUCK | |
| FT Vest High Yield & Target Income ETF | 3.86% | 90.05M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | 4.88% | 1.23B | Dec 2015 | DRAY vs BUYW | |
| FT Vest Investment Grade & Target Income ETF | 5.11% | 292.66M | Feb 2025 | DRAY vs LQTI | |
| Global X S&P 500 Risk Managed Income ETF | 5.50% | 50.16M | Aug 2021 | DRAY vs XRMI |
Lowest Drawdown Alternatives to DRAY
Among 165 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% | 465.86M | Oct 2022 | DRAY vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 90.05M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.23B | 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 6 categories. AUM among these funds goes as high as $1B.
Often Compared With DRAY
Investors most often compare DRAY with TSMY, GPIX, QYLD. These 15 comparison targets span 5 categories, based on PortfoliosLab usage data.
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