AMZY vs. IVVW
AMZY (YieldMax AMZN Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. AMZY is actively managed, while IVVW is passively managed. Over the past year, AMZY returned 6.82% vs 17.28% for IVVW. A 0.60 correlation means they provide meaningful diversification when combined. AMZY charges 1.09%/yr vs 0.25%/yr for IVVW.
Performance
AMZY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, AMZY achieves a -1.83% return, which is significantly lower than IVVW's 4.01% return.
AMZY
- 1D
- 0.57%
- 1M
- -10.29%
- YTD
- -1.83%
- 6M
- -1.84%
- 1Y
- 6.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -1.24%
- 1M
- 0.16%
- YTD
- 4.01%
- 6M
- 4.08%
- 1Y
- 17.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AMZY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AMZY YieldMax AMZN Option Income Strategy ETF | -1.83% | 10.39% | 16.69% |
IVVW iShares S&P 500 BuyWrite ETF | 4.01% | 11.71% | 12.76% |
Correlation
The correlation between AMZY and IVVW is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.60 |
The correlation between AMZY and IVVW has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
AMZY vs. IVVW — Risk / Return Rank
AMZY
IVVW
AMZY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax AMZN Option Income Strategy ETF (AMZY) and iShares S&P 500 BuyWrite ETF (IVVW). 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 | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.47 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.35 | 2.99 | -2.64 |
| Martin ratioReturn relative to average drawdown | 0.83 | 15.95 | -15.12 |
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Drawdowns
AMZY vs. IVVW - Drawdown Comparison
The maximum AMZY drawdown since its inception was -23.70%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for AMZY and IVVW.
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Drawdown Indicators
| AMZY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.70% | -16.79% | -6.91% |
Max Drawdown (1Y)Largest decline over 1 year | -19.61% | -5.81% | -13.80% |
Current DrawdownCurrent decline from peak | -12.34% | -1.37% | -10.97% |
Average DrawdownAverage peak-to-trough decline | -5.40% | -1.73% | -3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.20% | 1.09% | +7.11% |
Volatility
AMZY vs. IVVW - Volatility Comparison
YieldMax AMZN Option Income Strategy ETF (AMZY) has a higher volatility of 7.99% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.45%. This indicates that AMZY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMZY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.99% | 3.45% | +4.54% |
Volatility (6M)Calculated over the trailing 6-month period | 17.06% | 6.91% | +10.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.24% | 8.05% | +16.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.14% | 12.69% | +12.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.14% | 12.69% | +12.45% |
AMZY vs. IVVW - Expense Ratio Comparison
AMZY has a 1.09% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
AMZY vs. IVVW - Dividend Comparison
AMZY's dividend yield for the trailing twelve months is around 58.30%, more than IVVW's 19.86% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AMZY YieldMax AMZN Option Income Strategy ETF | 58.30% | 52.59% | 47.91% | 9.90% |
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% | 0.00% |
Frequently Asked Questions
AMZY and IVVW have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AMZY has higher volatility (7.99%) compared to IVVW (3.45%). In terms of maximum drawdown, AMZY dropped -23.70% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 17.28% vs 6.82% for AMZY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 17.28% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 1.09% for AMZY.
AMZY has the higher dividend yield at 58.30%, compared with 19.86% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.09% for AMZY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.16 vs 0.28), 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.
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