AIYY vs. FTQI

Last updated Jul 17, 2026

AIYY (YieldMax AI Option Income Strategy ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - AIYY is a Derivative Income fund actively managed by YieldMax, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. AIYY is actively managed, while FTQI is passively managed. Over the past year, AIYY returned -65.37% vs 26.34% for FTQI. A 0.52 correlation means they provide meaningful diversification when combined. AIYY charges 0.99%/yr vs 0.75%/yr for FTQI.

Performance

AIYY vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AI Option Income Strategy ETF (AIYY) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIYY achieves a -34.79% return, which is significantly lower than FTQI's 12.76% return.

AIYY

• 1D: -1.79%
• 1M: -14.61%
• 6M: -35.77%
• YTD: -34.79%
• 1Y: -65.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: -0.72%
• 1M: 1.28%
• 6M: 11.68%
• YTD: 12.76%
• 1Y: 26.34%
• 3Y*: 16.62%
• 5Y*: 12.26%
• 10Y*: 7.85%

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

AIYY vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	-34.79%	-58.98%	-14.74%	0.41%
FTQI First Trust Nasdaq BuyWrite Income ETF	12.76%	12.68%	18.30%	2.45%

Correlation

The correlation between AIYY and FTQI is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.52

The correlation between AIYY and FTQI has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.

Return for Risk

AIYY vs. FTQI — Risk / Return Rank

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

AIYY

AIYY Risk / Return Rank: 1
AIYY Sharpe Ratio Rank: 0
AIYY Sortino Ratio Rank: 0
AIYY Omega Ratio Rank: 0
AIYY Calmar Ratio Rank: 1
AIYY Martin Ratio Rank: 3

FTQI

FTQI Risk / Return Rank: 91
FTQI Sharpe Ratio Rank: 90
FTQI Sortino Ratio Rank: 89
FTQI Omega Ratio Rank: 90
FTQI Calmar Ratio Rank: 89
FTQI Martin Ratio Rank: 94

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.

AIYY vs. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI Option Income Strategy ETF (AIYY) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIYY	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	-1.20	2.43	-3.64
Sortino ratio: Return per unit of downside risk	-1.99	3.37	-5.36
Omega ratio: Gain probability vs. loss probability	0.73	1.45	-0.72
Calmar ratio: Return relative to maximum drawdown	-0.96	4.24	-5.20
Martin ratio: Return relative to average drawdown	-1.25	20.07	-21.32

AIYY vs. FTQI - Sharpe Ratio Comparison

The current AIYY Sharpe Ratio is -1.20, which is lower than the FTQI Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of AIYY and FTQI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIYY vs. FTQI - Drawdown Comparison

The maximum AIYY drawdown since its inception was -79.56%, which is greater than FTQI's maximum drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for AIYY and FTQI.

Drawdown Indicators

	AIYY	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-79.56%	-19.42%	-60.14%
Max Drawdown (1Y) Largest decline over 1 year	-68.45%	-6.24%	-62.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-78.70%	-0.85%	-77.85%
Average Drawdown Average peak-to-trough decline	-42.58%	-3.73%	-38.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.48%	1.32%	+51.16%

Volatility

AIYY vs. FTQI - Volatility Comparison

YieldMax AI Option Income Strategy ETF (AIYY) has a higher volatility of 12.61% compared to First Trust Nasdaq BuyWrite Income ETF (FTQI) at 2.92%. This indicates that AIYY's price experiences larger fluctuations and is considered to be riskier than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIYY	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.61%	2.92%	+9.69%
Volatility (6M) Calculated over the trailing 6-month period	39.95%	8.83%	+31.12%
Volatility (1Y) Calculated over the trailing 1-year period	54.40%	10.87%	+43.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.06%	14.82%	+35.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.06%	12.98%	+37.08%

AIYY vs. FTQI - Expense Ratio Comparison

AIYY has a 0.99% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

AIYY vs. FTQI - Dividend Comparison

AIYY's dividend yield for the trailing twelve months is around 155.94%, more than FTQI's 10.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIYY YieldMax AI Option Income Strategy ETF	155.94%	168.33%	98.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.92%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%

Frequently Asked Questions

Can I hold both AIYY and FTQI in my portfolio?

AIYY and FTQI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIYY or FTQI?

AIYY has higher volatility (12.61%) compared to FTQI (2.92%). In terms of maximum drawdown, AIYY dropped -79.56% vs FTQI's -19.42%.

Which ETF is better, AIYY or FTQI?

On 1-year performance, FTQI leads with 26.34% vs -65.37% for AIYY. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIYY or FTQI?

Over the 1-year period, FTQI has performed better with a 26.34% return vs -65.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIYY or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.99% for AIYY.

Which ETF pays a higher dividend yield, AIYY or FTQI?

AIYY has the higher dividend yield at 155.94%, compared with 10.92% for FTQI.

What is the main difference between AIYY and FTQI?

AIYY is categorized as Derivative Income, while FTQI is Nasdaq-100. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 0.99% for AIYY and 0.75% for FTQI.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.43 vs -1.20), 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.