AMZY vs. AMZW

Last updated Jun 23, 2026

AMZY (YieldMax AMZN Option Income Strategy ETF) and AMZW (Roundhill AMZN WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. Over the past year, AMZY returned 5.68% vs 7.74% for AMZW. With a 0.97 correlation, they move nearly in lockstep. AMZY charges 1.09%/yr vs 0.99%/yr for AMZW.

Performance

AMZY vs. AMZW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AMZN Option Income Strategy ETF (AMZY) and Roundhill AMZN WeeklyPay ETF (AMZW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZY achieves a -2.38% return, which is significantly lower than AMZW's -1.49% return.

AMZY

• 1D: -3.73%
• 1M: -10.79%
• YTD: -2.38%
• 6M: -1.81%
• 1Y: 5.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMZW

• 1D: -5.45%
• 1M: -15.53%
• YTD: -1.49%
• 6M: -0.35%
• 1Y: 7.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AMZY vs. AMZW - Yearly Performance Comparison

	2026 (YTD)	2025
AMZY YieldMax AMZN Option Income Strategy ETF	-2.38%	6.57%
AMZW Roundhill AMZN WeeklyPay ETF	-1.49%	7.33%

Correlation

The correlation between AMZY and AMZW is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.97

The correlation between AMZY and AMZW has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

AMZY vs. AMZW — Risk / Return Rank

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

AMZY

AMZY Risk / Return Rank: 11
AMZY Sharpe Ratio Rank: 12
AMZY Sortino Ratio Rank: 11
AMZY Omega Ratio Rank: 12
AMZY Calmar Ratio Rank: 11
AMZY Martin Ratio Rank: 11

AMZW

AMZW Risk / Return Rank: 12
AMZW Sharpe Ratio Rank: 11
AMZW Sortino Ratio Rank: 12
AMZW Omega Ratio Rank: 12
AMZW Calmar Ratio Rank: 12
AMZW Martin Ratio Rank: 11

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.

AMZY vs. AMZW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AMZN Option Income Strategy ETF (AMZY) and Roundhill AMZN WeeklyPay ETF (AMZW). 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.

	AMZY	AMZW	Difference
Sharpe ratio: Return per unit of total volatility	0.24	0.21	+0.03
Sortino ratio: Return per unit of downside risk	0.48	0.56	-0.08
Omega ratio: Gain probability vs. loss probability	1.06	1.07	-0.01
Calmar ratio: Return relative to maximum drawdown	0.29	0.29	0.00
Martin ratio: Return relative to average drawdown	0.70	0.66	+0.04

AMZY vs. AMZW - Sharpe Ratio Comparison

The current AMZY Sharpe Ratio is 0.24, which is comparable to the AMZW Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of AMZY and AMZW, 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

AMZY vs. AMZW - Drawdown Comparison

The maximum AMZY drawdown since its inception was -23.70%, smaller than the maximum AMZW drawdown of -26.79%. Use the drawdown chart below to compare losses from any high point for AMZY and AMZW.

Drawdown Indicators

	AMZY	AMZW	Difference
Max Drawdown Largest peak-to-trough decline	-23.70%	-26.79%	+3.09%
Max Drawdown (1Y) Largest decline over 1 year	-19.61%	-26.79%	+7.18%
Current Drawdown Current decline from peak	-12.84%	-18.87%	+6.03%
Average Drawdown Average peak-to-trough decline	-5.39%	-9.12%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.17%	11.76%	-3.59%

Volatility

AMZY vs. AMZW - Volatility Comparison

The current volatility for YieldMax AMZN Option Income Strategy ETF (AMZY) is 8.10%, while Roundhill AMZN WeeklyPay ETF (AMZW) has a volatility of 12.20%. This indicates that AMZY experiences smaller price fluctuations and is considered to be less risky than AMZW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZY	AMZW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	12.20%	-4.10%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	26.36%	-9.17%
Volatility (1Y) Calculated over the trailing 1-year period	24.28%	37.51%	-13.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.15%	37.41%	-12.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.15%	37.41%	-12.26%

AMZY vs. AMZW - Expense Ratio Comparison

AMZY has a 1.09% expense ratio, which is higher than AMZW's 0.99% expense ratio.

Dividends

AMZY vs. AMZW - Dividend Comparison

AMZY's dividend yield for the trailing twelve months is around 58.63%, more than AMZW's 49.54% yield.

Position	TTM	2025	2024	2023
AMZW Roundhill AMZN WeeklyPay ETF	49.54%	25.29%	0.00%	0.00%
AMZY YieldMax AMZN Option Income Strategy ETF	58.63%	52.59%	47.91%	9.90%

Frequently Asked Questions

Can I hold both AMZY and AMZW in my portfolio?

With a correlation of 0.97, AMZY and AMZW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AMZY or AMZW?

AMZW has higher volatility (12.20%) compared to AMZY (8.10%). In terms of maximum drawdown, AMZY dropped -23.70% vs AMZW's -26.79%.

Which ETF is better, AMZY or AMZW?

On 1-year performance, AMZW leads with 7.74% vs 5.68% for AMZY. On fees, AMZW is cheaper at 0.99% per year. On volatility, AMZY has been the lower-risk option at 8.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZY or AMZW?

Over the 1-year period, AMZW has performed better with a 7.74% return vs 5.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZY or AMZW?

AMZW is cheaper with a 0.99% expense ratio, compared with 1.09% for AMZY.

Which ETF pays a higher dividend yield, AMZY or AMZW?

AMZY has the higher dividend yield at 58.63%, compared with 49.54% for AMZW.

What is the main difference between AMZY and AMZW?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.09% for AMZY and 0.99% for AMZW.

Which has better risk-adjusted returns?

AMZY currently has the higher Sharpe Ratio (0.24 vs 0.21), 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.