AIYY vs. RAVI

Last updated Jun 24, 2026

AIYY (YieldMax AI Option Income Strategy ETF) and RAVI (FlexShares Ultra-Short Income ETF) are both exchange-traded funds - AIYY is a Derivative Income fund actively managed by YieldMax, while RAVI is a Ultrashort Bond fund actively managed by FlexShares. Both are actively managed. Over the past year, AIYY returned -58.91% vs 4.37% for RAVI. At a 0.03 correlation, their price movements are largely independent. AIYY charges 0.99%/yr vs 0.25%/yr for RAVI.

Performance

AIYY vs. RAVI - Performance Comparison

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

Returns By Period

In the year-to-date period, AIYY achieves a -31.24% return, which is significantly lower than RAVI's 1.69% return.

AIYY

• 1D: 0.23%
• 1M: 0.82%
• YTD: -31.24%
• 6M: -33.10%
• 1Y: -58.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RAVI

• 1D: 0.05%
• 1M: 0.30%
• YTD: 1.69%
• 6M: 1.79%
• 1Y: 4.37%
• 3Y*: 5.17%
• 5Y*: 3.54%
• 10Y*: 2.67%

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

AIYY vs. RAVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AIYY YieldMax AI Option Income Strategy ETF	-31.24%	-58.98%	-14.74%	0.41%
RAVI FlexShares Ultra-Short Income ETF	1.69%	4.98%	5.67%	0.69%

Correlation

The correlation between AIYY and RAVI is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.03

The correlation between AIYY and RAVI shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AIYY vs. RAVI — 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: 1
AIYY Sortino Ratio Rank: 1
AIYY Omega Ratio Rank: 1
AIYY Calmar Ratio Rank: 2
AIYY Martin Ratio Rank: 3

RAVI

RAVI Risk / Return Rank: 99
RAVI Sharpe Ratio Rank: 99
RAVI Sortino Ratio Rank: 99
RAVI Omega Ratio Rank: 99
RAVI Calmar Ratio Rank: 99
RAVI Martin Ratio Rank: 99

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. RAVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI Option Income Strategy ETF (AIYY) and FlexShares Ultra-Short Income ETF (RAVI). 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	RAVI	Difference
Sharpe ratio: Return per unit of total volatility	-1.09	10.73	-11.83
Sortino ratio: Return per unit of downside risk	-1.65	23.47	-25.12
Omega ratio: Gain probability vs. loss probability	0.77	5.23	-4.46
Calmar ratio: Return relative to maximum drawdown	-0.86	37.51	-38.37
Martin ratio: Return relative to average drawdown	-1.19	214.85	-216.04

AIYY vs. RAVI - Sharpe Ratio Comparison

The current AIYY Sharpe Ratio is -1.09, which is lower than the RAVI Sharpe Ratio of 10.73. The chart below compares the historical Sharpe Ratios of AIYY and RAVI, 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. RAVI - Drawdown Comparison

The maximum AIYY drawdown since its inception was -79.48%, which is greater than RAVI's maximum drawdown of -3.72%. Use the drawdown chart below to compare losses from any high point for AIYY and RAVI.

Drawdown Indicators

	AIYY	RAVI	Difference
Max Drawdown Largest peak-to-trough decline	-79.48%	-3.72%	-75.76%
Max Drawdown (1Y) Largest decline over 1 year	-68.33%	-0.12%	-68.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-3.28%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-3.72%	—
Current Drawdown Current decline from peak	-77.54%	0.00%	-77.54%
Average Drawdown Average peak-to-trough decline	-41.68%	-0.17%	-41.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	49.68%	0.02%	+49.66%

Volatility

AIYY vs. RAVI - Volatility Comparison

YieldMax AI Option Income Strategy ETF (AIYY) has a higher volatility of 15.30% compared to FlexShares Ultra-Short Income ETF (RAVI) at 0.13%. This indicates that AIYY's price experiences larger fluctuations and is considered to be riskier than RAVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIYY	RAVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.30%	0.13%	+15.17%
Volatility (6M) Calculated over the trailing 6-month period	39.30%	0.31%	+38.99%
Volatility (1Y) Calculated over the trailing 1-year period	54.04%	0.41%	+53.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.29%	1.41%	+48.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.29%	1.28%	+49.01%

AIYY vs. RAVI - Expense Ratio Comparison

AIYY has a 0.99% expense ratio, which is higher than RAVI's 0.25% expense ratio.

Dividends

AIYY vs. RAVI - Dividend Comparison

AIYY's dividend yield for the trailing twelve months is around 153.28%, more than RAVI's 4.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AIYY YieldMax AI Option Income Strategy ETF	153.28%	168.33%	98.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
RAVI FlexShares Ultra-Short Income ETF	4.37%	4.59%	5.34%	4.55%	1.70%	0.90%	1.29%	2.53%	2.22%	1.28%	0.90%

Frequently Asked Questions

Can I hold both AIYY and RAVI in my portfolio?

AIYY and RAVI have a correlation of -0.10, 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 RAVI?

AIYY has higher volatility (15.30%) compared to RAVI (0.13%). In terms of maximum drawdown, AIYY dropped -79.48% vs RAVI's -3.72%.

Which ETF is better, AIYY or RAVI?

On 1-year performance, RAVI leads with 4.37% vs -58.91% for AIYY. On fees, RAVI is cheaper at 0.25% per year. On volatility, RAVI has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIYY or RAVI?

Over the 1-year period, RAVI has performed better with a 4.37% return vs -58.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIYY or RAVI?

RAVI is cheaper with a 0.25% expense ratio, compared with 0.99% for AIYY.

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

AIYY has the higher dividend yield at 153.28%, compared with 4.37% for RAVI.

What is the main difference between AIYY and RAVI?

AIYY is categorized as Derivative Income, while RAVI is Ultrashort Bond. They also come from different issuers: YieldMax and FlexShares. Their fees differ too: 0.99% for AIYY and 0.25% for RAVI.

Which has better risk-adjusted returns?

RAVI currently has the higher Sharpe Ratio (10.73 vs -1.09), 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.