AMDY vs. TBIL

Last updated Jun 4, 2026

AMDY (YieldMax AMD Option Income Strategy ETF) and TBIL (US Treasury 3 Month Bill ETF) are both exchange-traded funds - AMDY is a Options Trading fund actively managed by YieldMax, while TBIL is a Ultrashort Bond fund tracking the ICE BofA US Treasury Bill 3 Month Index. AMDY is actively managed, while TBIL is passively managed. Over the past year, AMDY returned 240.44% vs 3.93% for TBIL. At a correlation of -0.07, they often move in opposite directions. AMDY charges 0.99%/yr vs 0.15%/yr for TBIL.

Performance

AMDY vs. TBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMD Option Income Strategy ETF (AMDY) and US Treasury 3 Month Bill ETF (TBIL). 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 TBIL's 1.49% return.

AMDY

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

TBIL

• 1D: 0.00%
• 1M: 0.30%
• YTD: 1.49%
• 6M: 1.78%
• 1Y: 3.93%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

AMDY vs. TBIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	110.49%	53.93%	-17.00%	26.24%
TBIL US Treasury 3 Month Bill ETF	1.49%	4.19%	5.15%	1.50%

Correlation

The correlation between AMDY and TBIL is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	-0.07

The correlation between AMDY and TBIL shifts across timeframes, from -0.17 (1 year) to -0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AMDY vs. TBIL — 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

TBIL

TBIL Risk / Return Rank: 100
TBIL Sharpe Ratio Rank: 100
TBIL Sortino Ratio Rank: 100
TBIL Omega Ratio Rank: 100
TBIL Calmar Ratio Rank: 100
TBIL Martin Ratio Rank: 100

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. TBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMD Option Income Strategy ETF (AMDY) and US Treasury 3 Month Bill ETF (TBIL). 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	TBIL	Difference
Sharpe ratio Return per unit of total volatility	4.53	13.78	-9.24
Sortino ratio Return per unit of downside risk	4.54	58.40	-53.86
Omega ratio Gain probability vs. loss probability	1.64	17.16	-15.52
Calmar ratio Return relative to maximum drawdown	8.77	196.84	-188.06
Martin ratio Return relative to average drawdown	19.77	934.41	-914.64
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. TBIL - Sharpe Ratio Comparison

The current AMDY Sharpe Ratio is 4.53, which is lower than the TBIL Sharpe Ratio of 13.78. The chart below compares the historical Sharpe Ratios of AMDY and TBIL, 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	TBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.53	13.78	-9.24
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	14.07	-12.82

Drawdowns

AMDY vs. TBIL - Drawdown Comparison

The maximum AMDY drawdown since its inception was -53.92%, which is greater than TBIL's maximum drawdown of -0.10%. Use the drawdown chart below to compare losses from any high point for AMDY and TBIL.

Drawdown Indicators

	AMDY	TBIL	Difference
Max Drawdown Largest peak-to-trough decline	-53.92%	-0.10%	-53.82%
Max Drawdown (1Y) Largest decline over 1 year	-27.59%	-0.02%	-27.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.02%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-18.02%	-0.00%	-18.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.22%	0.00%	+12.22%

Volatility

AMDY vs. TBIL - Volatility Comparison

YieldMax AMD Option Income Strategy ETF (AMDY) has a higher volatility of 20.81% compared to US Treasury 3 Month Bill ETF (TBIL) at 0.08%. This indicates that AMDY's price experiences larger fluctuations and is considered to be riskier than TBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMDY	TBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.81%	0.08%	+20.73%
Volatility (6M) Calculated over the trailing 6-month period	39.99%	0.19%	+39.80%
Volatility (1Y) Calculated over the trailing 1-year period	53.40%	0.29%	+53.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.01%	0.32%	+45.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	46.01%	0.32%	+45.69%

AMDY vs. TBIL - Expense Ratio Comparison

AMDY has a 0.99% expense ratio, which is higher than TBIL's 0.15% expense ratio.

Dividends

AMDY vs. TBIL - Dividend Comparison

AMDY's dividend yield for the trailing twelve months is around 54.91%, more than TBIL's 3.82% yield.

Position	TTM	2025	2024	2023	2022
AMDY YieldMax AMD Option Income Strategy ETF	54.91%	80.68%	109.98%	6.68%	0.00%
TBIL US Treasury 3 Month Bill ETF	3.82%	4.07%	5.02%	5.00%	1.10%

Frequently Asked Questions

Can I hold both AMDY and TBIL in my portfolio?

AMDY and TBIL have a correlation of -0.17, 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 TBIL?

AMDY has higher volatility (20.81%) compared to TBIL (0.08%). In terms of maximum drawdown, AMDY dropped -53.92% vs TBIL's -0.10%.

Which ETF is better, AMDY or TBIL?

On 1-year performance, AMDY leads with 240.44% vs 3.93% for TBIL. On fees, TBIL is cheaper at 0.15% per year. On volatility, TBIL has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMDY or TBIL?

Over the 1-year period, AMDY has performed better with a 240.44% return vs 3.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMDY or TBIL?

TBIL is cheaper with a 0.15% expense ratio, compared with 0.99% for AMDY.

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

AMDY has the higher dividend yield at 54.91%, compared with 3.82% for TBIL.

What is the main difference between AMDY and TBIL?

AMDY is categorized as Options Trading, while TBIL is Ultrashort Bond. They also come from different issuers: YieldMax and US Benchmark Series. Their fees differ too: 0.99% for AMDY and 0.15% for TBIL.

Which has better risk-adjusted returns?

TBIL currently has the higher Sharpe Ratio (13.78 vs 4.53), 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.