AIYY vs. OARK

Last updated Aug 4, 2026

AIYY (YieldMax AI Option Income Strategy ETF) and OARK (YieldMax Innovation Option Income Strategy ETF) are both exchange-traded funds - AIYY is a Derivative Income fund actively managed by YieldMax, while OARK is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, AIYY returned -56.94% vs 7.78% for OARK. Their 0.63 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.99% expense ratio.

Performance

AIYY vs. OARK - Performance Comparison

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

Returns By Period

In the year-to-date period, AIYY achieves a -32.34% return, which is significantly lower than OARK's 0.12% return.

AIYY

• 1D: 3.65%
• 1M: 4.61%
• 6M: -19.60%
• YTD: -32.34%
• 1Y: -56.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -41.50%

OARK

• 1D: 2.06%
• 1M: -7.36%
• 6M: 3.60%
• YTD: 0.12%
• 1Y: 7.78%
• 3Y*: 10.11%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AIYY YieldMax AI Option Income Strategy ETF	$529.86K	$561.17K	$809.81K
OARK YieldMax Innovation Option Income Strategy ETF	$242.86K	$309.93K	$352.49K

AIYY vs. OARK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	-32.34%	-58.98%	-14.74%	0.41%
OARK YieldMax Innovation Option Income Strategy ETF	0.12%	20.37%	7.32%	13.73%

Correlation

The correlation between AIYY and OARK is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.63

The correlation between AIYY and OARK has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.

Return for Risk

AIYY vs. OARK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AIYY

AIYY Risk / Return Rank: 2
AIYY Sharpe Ratio Rank: 1
AIYY Sortino Ratio Rank: 2
AIYY Omega Ratio Rank: 1
AIYY Calmar Ratio Rank: 1
AIYY Martin Ratio Rank: 3

OARK

OARK Risk / Return Rank: 17
OARK Sharpe Ratio Rank: 17
OARK Sortino Ratio Rank: 18
OARK Omega Ratio Rank: 17
OARK Calmar Ratio Rank: 17
OARK Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AIYY vs. OARK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI Option Income Strategy ETF (AIYY) and YieldMax Innovation Option Income Strategy ETF (OARK). 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	OARK	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	0.27	-1.33
Sortino ratio: Return per unit of downside risk	-1.57	0.57	-2.13
Omega ratio: Gain probability vs. loss probability	0.78	1.07	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.90	0.34	-1.24
Martin ratio: Return relative to average drawdown	-1.24	0.75	-2.00

AIYY vs. OARK - Sharpe Ratio Comparison

The current AIYY Sharpe Ratio is -1.06, which is lower than the OARK Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of AIYY and OARK, 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. OARK - Drawdown Comparison

The maximum AIYY drawdown since its inception was -80.28%, which is greater than OARK's maximum drawdown of -35.48%. Use the drawdown chart below to compare losses from any high point for AIYY and OARK.

Drawdown Indicators

	AIYY	OARK	Difference
Max Drawdown Largest peak-to-trough decline	-80.28%	-35.48%	-44.80%
Max Drawdown (1Y) Largest decline over 1 year	-63.12%	-23.26%	-39.86%
Max Drawdown (3Y) Largest decline over 3 years	—	-35.48%	—
Current Drawdown Current decline from peak	-77.90%	-12.01%	-65.89%
Average Drawdown Average peak-to-trough decline	-43.23%	-10.47%	-32.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	45.77%	10.39%	+35.38%

Volatility

AIYY vs. OARK - Volatility Comparison

YieldMax AI Option Income Strategy ETF (AIYY) has a higher volatility of 9.93% compared to YieldMax Innovation Option Income Strategy ETF (OARK) at 8.50%. This indicates that AIYY's price experiences larger fluctuations and is considered to be riskier than OARK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIYY	OARK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.93%	8.50%	+1.43%
Volatility (6M) Calculated over the trailing 6-month period	38.62%	21.72%	+16.90%
Volatility (1Y) Calculated over the trailing 1-year period	53.91%	28.78%	+25.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.89%	30.83%	+19.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.89%	30.83%	+19.06%

AIYY vs. OARK - Expense Ratio Comparison

Both AIYY and OARK have an expense ratio of 0.99%.

Dividends

AIYY vs. OARK - Dividend Comparison

AIYY's dividend yield for the trailing twelve months is around 134.39%, more than OARK's 68.24% yield.

Position	TTM	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	134.39%	168.33%	98.26%	0.00%
OARK YieldMax Innovation Option Income Strategy ETF	68.24%	61.86%	47.86%	45.03%

Frequently Asked Questions

Can I hold both AIYY and OARK in my portfolio?

AIYY and OARK have a correlation of 0.57, 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 OARK?

AIYY has higher volatility (9.93%) compared to OARK (8.50%). In terms of maximum drawdown, AIYY dropped -80.28% vs OARK's -35.48%.

Which ETF is better, AIYY or OARK?

On 1-year performance, OARK leads with 7.78% vs -56.94% for AIYY. Both ETFs have the same 0.99% expense ratio. On volatility, OARK has been the lower-risk option at 8.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIYY or OARK?

Over the 1-year period, OARK has performed better with a 7.78% return vs -56.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIYY or OARK?

AIYY and OARK have the same expense ratio: 0.99% per year.

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

AIYY has the higher dividend yield at 134.39%, compared with 68.24% for OARK.

What is the main difference between AIYY and OARK?

AIYY is categorized as Derivative Income, while OARK is Options Trading.

Which has better risk-adjusted returns?

OARK currently has the higher Sharpe Ratio (0.27 vs -1.06), 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.