AAPY vs. NVDY

Last updated Jun 4, 2026

AAPY (Kurv Yield Premium Strategy Apple (AAPL) ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - AAPY is a Large Cap Blend Equities fund actively managed by Kurv, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, AAPY returned 43.66% vs 46.64% for NVDY. At a 0.24 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AAPY vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAPY achieves a 14.66% return, which is significantly higher than NVDY's 13.06% return.

AAPY

• 1D: -1.55%
• 1M: 13.81%
• YTD: 14.66%
• 6M: 11.04%
• 1Y: 43.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -2.22%
• 1M: 5.54%
• YTD: 13.06%
• 6M: 17.67%
• 1Y: 46.64%
• 3Y*: 54.54%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	14.66%	5.04%	20.54%	9.23%
NVDY YieldMax NVDA Option Income Strategy ETF	13.06%	27.38%	114.23%	17.50%

Correlation

The correlation between AAPY and NVDY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023	0.24

Return for Risk

AAPY vs. NVDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPY

AAPY Risk / Return Rank: 58
AAPY Sharpe Ratio Rank: 60
AAPY Sortino Ratio Rank: 58
AAPY Omega Ratio Rank: 62
AAPY Calmar Ratio Rank: 61
AAPY Martin Ratio Rank: 50

NVDY

NVDY Risk / Return Rank: 52
NVDY Sharpe Ratio Rank: 49
NVDY Sortino Ratio Rank: 45
NVDY Omega Ratio Rank: 44
NVDY Calmar Ratio Rank: 72
NVDY Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPY vs. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and YieldMax NVDA Option Income Strategy ETF (NVDY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPY	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.72	+0.33
Sortino ratio: Return per unit of downside risk	2.80	2.29	+0.51
Omega ratio: Gain probability vs. loss probability	1.38	1.29	+0.09
Calmar ratio: Return relative to maximum drawdown	3.03	3.66	-0.63
Martin ratio: Return relative to average drawdown	8.23	9.00	-0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPY vs. NVDY - Sharpe Ratio Comparison

The current AAPY Sharpe Ratio is 2.05, which is comparable to the NVDY Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of AAPY and NVDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAPY	NVDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.05	1.72	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.64	-0.77

Drawdowns

AAPY vs. NVDY - Drawdown Comparison

The maximum AAPY drawdown since its inception was -29.22%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for AAPY and NVDY.

Drawdown Indicators

	AAPY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-34.08%	+4.86%
Max Drawdown (1Y) Largest decline over 1 year	-14.47%	-12.81%	-1.66%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-1.55%	-6.66%	+5.11%
Average Drawdown Average peak-to-trough decline	-6.34%	-6.15%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	5.20%	+0.12%

Volatility

AAPY vs. NVDY - Volatility Comparison

The current volatility for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) is 6.18%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.46%. This indicates that AAPY experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	9.46%	-3.28%
Volatility (6M) Calculated over the trailing 6-month period	17.77%	20.68%	-2.91%
Volatility (1Y) Calculated over the trailing 1-year period	21.42%	27.35%	-5.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.58%	38.24%	-15.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.58%	38.24%	-15.66%

AAPY vs. NVDY - Expense Ratio Comparison

Both AAPY and NVDY have an expense ratio of 0.99%.

Dividends

AAPY vs. NVDY - Dividend Comparison

AAPY's dividend yield for the trailing twelve months is around 11.30%, less than NVDY's 61.36% yield.

Position	TTM	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	11.30%	12.66%	17.15%	2.16%
NVDY YieldMax NVDA Option Income Strategy ETF	61.36%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both AAPY and NVDY in my portfolio?

AAPY and NVDY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAPY or NVDY?

NVDY has higher volatility (9.46%) compared to AAPY (6.18%). In terms of maximum drawdown, AAPY dropped -29.22% vs NVDY's -34.08%.

Which ETF is better, AAPY or NVDY?

On 1-year performance, NVDY leads with 46.64% vs 43.66% for AAPY. Both ETFs have the same 0.99% expense ratio. On volatility, AAPY has been the lower-risk option at 6.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AAPY or NVDY?

Over the 1-year period, NVDY has performed better with a 46.64% return vs 43.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AAPY or NVDY?

AAPY and NVDY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, AAPY or NVDY?

NVDY has the higher dividend yield at 61.36%, compared with 11.30% for AAPY.

What is the main difference between AAPY and NVDY?

AAPY is categorized as Large Cap Blend Equities, while NVDY is Derivative Income. They also come from different issuers: Kurv and YieldMax.

Which has better risk-adjusted returns?

AAPY currently has the higher Sharpe Ratio (2.05 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.