AMDY vs. CONY

Last updated Aug 2, 2026

AMDY (YieldMax AMD Option Income Strategy ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, AMDY returned 133.24% vs -49.35% for CONY. Their 0.40 correlation means their historical movements had little consistent relationship. AMDY charges 1.23%/yr vs 0.99%/yr for CONY.

Performance

AMDY vs. CONY - Performance Comparison

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

Returns By Period

In the year-to-date period, AMDY achieves a 87.43% return, which is significantly higher than CONY's -31.56% return.

AMDY

• 1D: -1.50%
• 1M: -8.47%
• 6M: 81.07%
• YTD: 87.43%
• 1Y: 133.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 47.02%

CONY

• 1D: -9.82%
• 1M: -8.17%
• 6M: -20.90%
• YTD: -31.56%
• 1Y: -49.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.21%

*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)
AMDY YieldMax AMD Option Income Strategy ETF	$22.93M	$23.50M	$23.54M
CONY YieldMax COIN Option Income Strategy ETF	$6.79M	$6.47M	$10.17M

AMDY vs. CONY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	87.43%	53.93%	-17.00%	25.92%
CONY YieldMax COIN Option Income Strategy ETF	-31.56%	-26.34%	23.62%	68.78%

Correlation

The correlation between AMDY and CONY is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.40

Return for Risk

AMDY vs. CONY — Risk / Return Rank

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

AMDY

AMDY Risk / Return Rank: 86
AMDY Sharpe Ratio Rank: 88
AMDY Sortino Ratio Rank: 84
AMDY Omega Ratio Rank: 84
AMDY Calmar Ratio Rank: 93
AMDY Martin Ratio Rank: 79

CONY

CONY Risk / Return Rank: 1
CONY Sharpe Ratio Rank: 2
CONY Sortino Ratio Rank: 2
CONY Omega Ratio Rank: 1
CONY Calmar Ratio Rank: 0
CONY Martin Ratio Rank: 0

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.

AMDY vs. CONY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMD Option Income Strategy ETF (AMDY) and YieldMax COIN Option Income Strategy ETF (CONY). 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.

	AMDY	CONY	Difference
Sharpe ratio: Return per unit of total volatility	2.13	-0.97	+3.10
Sortino ratio: Return per unit of downside risk	2.75	-1.54	+4.29
Omega ratio: Gain probability vs. loss probability	1.36	0.82	+0.54
Calmar ratio: Return relative to maximum drawdown	4.63	-0.97	+5.60
Martin ratio: Return relative to average drawdown	10.02	-1.49	+11.51

AMDY vs. CONY - Sharpe Ratio Comparison

The current AMDY Sharpe Ratio is 2.13, which is higher than the CONY Sharpe Ratio of -0.97. The chart below compares the historical Sharpe Ratios of AMDY and CONY, 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

AMDY vs. CONY - Drawdown Comparison

The maximum AMDY drawdown since its inception was -53.92%, smaller than the maximum CONY drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for AMDY and CONY.

Drawdown Indicators

	AMDY	CONY	Difference
Max Drawdown Largest peak-to-trough decline	-53.92%	-63.57%	+9.65%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	-59.52%	+31.93%
Current Drawdown Current decline from peak	-15.82%	-61.23%	+45.41%
Average Drawdown Average peak-to-trough decline	-17.40%	-24.13%	+6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.72%	39.88%	-27.16%

Volatility

AMDY vs. CONY - Volatility Comparison

YieldMax AMD Option Income Strategy ETF (AMDY) has a higher volatility of 21.43% compared to YieldMax COIN Option Income Strategy ETF (CONY) at 16.98%. This indicates that AMDY's price experiences larger fluctuations and is considered to be riskier than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDY	CONY	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.43%	16.98%	+4.45%
Volatility (6M) Calculated over the trailing 6-month period	48.49%	46.95%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	60.09%	59.51%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.06%	59.91%	-11.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.06%	59.91%	-11.85%

AMDY vs. CONY - Expense Ratio Comparison

AMDY has a 1.23% expense ratio, which is higher than CONY's 0.99% expense ratio.

Dividends

AMDY vs. CONY - Dividend Comparison

AMDY's dividend yield for the trailing twelve months is around 76.77%, less than CONY's 171.52% yield.

Position	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	76.77%	80.68%	109.98%	6.68%
CONY YieldMax COIN Option Income Strategy ETF	171.52%	192.07%	155.66%	16.43%

Frequently Asked Questions

Can I hold both AMDY and CONY in my portfolio?

AMDY and CONY have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMDY or CONY?

AMDY has higher volatility (21.43%) compared to CONY (16.98%). In terms of maximum drawdown, AMDY dropped -53.92% vs CONY's -63.57%.

Which ETF is better, AMDY or CONY?

On 1-year performance, AMDY leads with 133.24% vs -49.35% for CONY. On fees, CONY is cheaper at 0.99% per year. On volatility, CONY has been the lower-risk option at 16.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDY or CONY?

Over the 1-year period, AMDY has performed better with a 133.24% return vs -49.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDY or CONY?

CONY is cheaper with a 0.99% expense ratio, compared with 1.23% for AMDY.

Which ETF pays a higher dividend yield, AMDY or CONY?

CONY has the higher dividend yield at 171.52%, compared with 76.77% for AMDY.

What is the main difference between AMDY and CONY?

Their fees differ too: 1.23% for AMDY and 0.99% for CONY.

Which has better risk-adjusted returns?

AMDY currently has the higher Sharpe Ratio (2.13 vs -0.97), 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.