AZYY vs. IVVW

Last updated Jun 6, 2026

AZYY (GraniteShares YieldBoost AMZN ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. AZYY is actively managed, while IVVW is passively managed. A 0.55 correlation means they provide meaningful diversification when combined. AZYY charges 1.07%/yr vs 0.25%/yr for IVVW.

Performance

AZYY vs. IVVW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBoost AMZN ETF (AZYY) and iShares S&P 500 BuyWrite ETF (IVVW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AZYY achieves a -5.17% return, which is significantly lower than IVVW's 3.49% return.

AZYY

• 1D: -0.85%
• 1M: -5.83%
• YTD: -5.17%
• 6M: -3.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVW

• 1D: -1.56%
• 1M: 0.32%
• YTD: 3.49%
• 6M: 4.99%
• 1Y: 18.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AZYY vs. IVVW - Yearly Performance Comparison

	2026 (YTD)	2025
AZYY GraniteShares YieldBoost AMZN ETF	-5.17%	-5.33%
IVVW iShares S&P 500 BuyWrite ETF	3.49%	6.54%

Correlation

The correlation between AZYY and IVVW is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 17, 2025	0.55

Return for Risk

AZYY vs. IVVW — Risk / Return Rank

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

IVVW

IVVW Risk / Return Rank: 80
IVVW Sharpe Ratio Rank: 79
IVVW Sortino Ratio Rank: 78
IVVW Omega Ratio Rank: 89
IVVW Calmar Ratio Rank: 67
IVVW Martin Ratio Rank: 86

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.

AZYY vs. IVVW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBoost AMZN ETF (AZYY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AZYY	IVVW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	1.01	-1.65

Drawdowns

AZYY vs. IVVW - Drawdown Comparison

The maximum AZYY drawdown since its inception was -23.12%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for AZYY and IVVW.

Drawdown Indicators

	AZYY	IVVW	Difference
Max Drawdown Largest peak-to-trough decline	-23.12%	-16.79%	-6.33%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.81%	—
Current Drawdown Current decline from peak	-15.06%	-1.56%	-13.50%
Average Drawdown Average peak-to-trough decline	-12.11%	-1.75%	-10.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.06%	—

Volatility

Volatility by Period

	AZYY	IVVW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	21.92%	7.57%	+14.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.92%	12.68%	+9.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	12.68%	+9.24%

AZYY vs. IVVW - Expense Ratio Comparison

AZYY has a 1.07% expense ratio, which is higher than IVVW's 0.25% expense ratio.

Dividends

AZYY vs. IVVW - Dividend Comparison

AZYY's dividend yield for the trailing twelve months is around 44.15%, more than IVVW's 19.96% yield.

Position	TTM	2025	2024
AZYY GraniteShares YieldBoost AMZN ETF	44.15%	15.86%	0.00%
IVVW iShares S&P 500 BuyWrite ETF	19.96%	18.55%	13.72%

Frequently Asked Questions

Can I hold both AZYY and IVVW in my portfolio?

AZYY and IVVW have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AZYY or IVVW?

On fees, IVVW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AZYY or IVVW?

IVVW is cheaper with a 0.25% expense ratio, compared with 1.07% for AZYY.

Which ETF pays a higher dividend yield, AZYY or IVVW?

AZYY has the higher dividend yield at 44.15%, compared with 19.96% for IVVW.

What is the main difference between AZYY and IVVW?

They also come from different issuers: GraniteShares and iShares. Their fees differ too: 1.07% for AZYY and 0.25% for IVVW.