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 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 | DRAY vs PEPS | |
| iShares S&P 500 BuyWrite ETF | 0.25% | 324.77M | Mar 2024 | DRAY vs IVVW | |
| State Street US Equity Premium Income ETF | 0.25% | 45.73M | Sep 2024 | DRAY vs SPIN | |
| Fidelity Yield Enhanced Equity ETF | 0.28% | 198.84M | Apr 2024 | DRAY vs FYEE | |
| Invesco S&P 500 BuyWrite ETF | 0.29% | 352.13M | Dec 2007 | DRAY vs PBP |
Best Risk-Adjusted Alternatives to DRAY
DRAY has a PortfoliosLab risk / return rank of 2. There are 152 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 | DRAY vs BUCK | |
| SoFi Enhanced Yield ETF | 96 | 34.73M | Nov 2023 | DRAY vs THTA | |
| YieldMax GOOGL Option Income Strategy ETF | 94 | 246.95M | Jul 2023 | DRAY vs GOOY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 94 | 1.16B | Apr 2025 | DRAY vs CHPY | |
| First Trust Nasdaq BuyWrite Income ETF | 92 | 938.31M | Jan 2014 | DRAY vs FTQI |
Top Performing DRAY Alternatives (YTD)
DRAY is at -28.70% YTD. There are 225 ETFs in the Derivative Income category with higher YTD returns, going as high as 182.49%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Roundhill ARM WeeklyPay ETF | 182.49% | 27.86M | Oct 2025 | DRAY vs ARMW | |
| Roundhill AMD WeeklyPay ETF | 181.24% | 116.76M | Jul 2025 | DRAY vs AMDW | |
| YieldMax AMD Option Income Strategy ETF | 107.90% | 443.39M | Sep 2023 | DRAY vs AMDY | |
| YieldMax MRNA Option Income Strategy ETF | 93.46% | 127.56M | Oct 2023 | DRAY vs MRNY | |
| YieldMax Semiconductor Portfolio Option Income ETF | 70.62% | 1.16B | Apr 2025 | DRAY vs CHPY |
Lowest Volatility Alternatives to DRAY
DRAY has 42.33% 1-year volatility. There are 236 ETFs in the Derivative Income category with lower 1-year volatility, going as low as 2.80%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Treasury Option Income ETF | 2.80% | 474.96M | Oct 2022 | DRAY vs BUCK | |
| FT Vest Laddered Autocallable Barrier & Resilient ... | 3.41% | 206.17M | Apr 2026 | DRAY vs ACYS | |
| FT Vest High Yield & Target Income ETF | 3.86% | 88.48M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | 4.85% | 1.26B | Dec 2015 | DRAY vs BUYW | |
| GraniteShares YieldBOOST 20Y+ Treasuries ETF | 5.00% | 726.94K | May 2026 | DRAY vs FIYY |
Lowest Drawdown Alternatives to DRAY
DRAY has a 1-year max drawdown of -57.87%. There are 157 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 | DRAY vs BUCK | |
| FT Vest High Yield & Target Income ETF | -2.38% | 88.48M | Feb 2025 | DRAY vs HYTI | |
| Main Buywrite ETF | -2.59% | 1.26B | 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 CWII, GPIX, TSMY. These 18 comparison targets span 4 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