AMDY vs. IWMY

Last updated Jun 4, 2026

AMDY (YieldMax AMD Option Income Strategy ETF) and IWMY (Defiance R2000 Enhanced Options & 0DTE Income ETF) are both Options Trading funds. AMDY is actively managed, while IWMY is passively managed. Over the past year, AMDY returned 240.44% vs 23.33% for IWMY. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

AMDY vs. IWMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMD Option Income Strategy ETF (AMDY) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMDY achieves a 110.49% return, which is significantly higher than IWMY's 12.25% return.

AMDY

• 1D: 3.39%
• 1M: 46.76%
• YTD: 110.49%
• 6M: 111.80%
• 1Y: 240.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWMY

• 1D: -1.36%
• 1M: 3.06%
• YTD: 12.25%
• 6M: 10.99%
• 1Y: 23.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMDY vs. IWMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	110.49%	53.93%	-17.00%	33.65%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	12.25%	10.18%	5.56%	9.74%

Correlation

The correlation between AMDY and IWMY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023	0.46

Return for Risk

AMDY vs. IWMY — Risk / Return Rank

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

AMDY

AMDY Risk / Return Rank: 93
AMDY Sharpe Ratio Rank: 97
AMDY Sortino Ratio Rank: 92
AMDY Omega Ratio Rank: 92
AMDY Calmar Ratio Rank: 96
AMDY Martin Ratio Rank: 88

IWMY

IWMY Risk / Return Rank: 40
IWMY Sharpe Ratio Rank: 42
IWMY Sortino Ratio Rank: 38
IWMY Omega Ratio Rank: 39
IWMY Calmar Ratio Rank: 41
IWMY Martin Ratio Rank: 41

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.

AMDY vs. IWMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMD Option Income Strategy ETF (AMDY) and Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY). 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.

	AMDY	IWMY	Difference
Sharpe ratio: Return per unit of total volatility	4.53	1.49	+3.04
Sortino ratio: Return per unit of downside risk	4.54	2.02	+2.51
Omega ratio: Gain probability vs. loss probability	1.64	1.26	+0.38
Calmar ratio: Return relative to maximum drawdown	8.77	2.03	+6.75
Martin ratio: Return relative to average drawdown	19.77	6.66	+13.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMDY vs. IWMY - Sharpe Ratio Comparison

The current AMDY Sharpe Ratio is 4.53, which is higher than the IWMY Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of AMDY and IWMY, 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

	AMDY	IWMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	1.49	+3.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.95	+0.30

Drawdowns

AMDY vs. IWMY - Drawdown Comparison

The maximum AMDY drawdown since its inception was -53.92%, which is greater than IWMY's maximum drawdown of -18.72%. Use the drawdown chart below to compare losses from any high point for AMDY and IWMY.

Drawdown Indicators

	AMDY	IWMY	Difference
Max Drawdown Largest peak-to-trough decline	-53.92%	-18.72%	-35.20%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	-11.57%	-16.02%
Current Drawdown Current decline from peak	0.00%	-1.36%	+1.36%
Average Drawdown Average peak-to-trough decline	-18.02%	-2.98%	-15.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	3.51%	+8.71%

Volatility

AMDY vs. IWMY - Volatility Comparison

YieldMax AMD Option Income Strategy ETF (AMDY) has a higher volatility of 20.81% compared to Defiance R2000 Enhanced Options & 0DTE Income ETF (IWMY) at 5.42%. This indicates that AMDY's price experiences larger fluctuations and is considered to be riskier than IWMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDY	IWMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.81%	5.42%	+15.39%
Volatility (6M) Calculated over the trailing 6-month period	39.99%	12.62%	+27.37%
Volatility (1Y) Calculated over the trailing 1-year period	53.40%	15.69%	+37.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.01%	15.75%	+30.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.01%	15.75%	+30.26%

AMDY vs. IWMY - Expense Ratio Comparison

Both AMDY and IWMY have an expense ratio of 0.99%.

Dividends

AMDY vs. IWMY - Dividend Comparison

AMDY's dividend yield for the trailing twelve months is around 54.91%, more than IWMY's 45.96% yield.

Position	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	54.91%	80.68%	109.98%	6.68%
IWMY Defiance R2000 Enhanced Options & 0DTE Income ETF	45.96%	63.33%	107.92%	11.34%

Frequently Asked Questions

Can I hold both AMDY and IWMY in my portfolio?

AMDY and IWMY have a correlation of 0.46, 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 IWMY?

AMDY has higher volatility (20.81%) compared to IWMY (5.42%). In terms of maximum drawdown, AMDY dropped -53.92% vs IWMY's -18.72%.

Which ETF is better, AMDY or IWMY?

On 1-year performance, AMDY leads with 240.44% vs 23.33% for IWMY. Both ETFs have the same 0.99% expense ratio. On volatility, IWMY has been the lower-risk option at 5.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDY or IWMY?

Over the 1-year period, AMDY has performed better with a 240.44% return vs 23.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDY or IWMY?

AMDY and IWMY have the same expense ratio: 0.99% per year.

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

AMDY has the higher dividend yield at 54.91%, compared with 45.96% for IWMY.

What is the main difference between AMDY and IWMY?

They also come from different issuers: YieldMax and Defiance.

Which has better risk-adjusted returns?

AMDY currently has the higher Sharpe Ratio (4.53 vs 1.49), 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.