BIOY vs. BUYW

Last updated Jun 30, 2026

BIOY (GraniteShares YieldBOOST Biotech ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. At a 0.10 correlation, their price movements are largely independent. BIOY charges 1.07%/yr vs 1.29%/yr for BUYW.

Performance

BIOY vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST Biotech ETF (BIOY) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BIOY

• 1D: 0.04%
• 1M: 0.80%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.42%
• 1M: 0.43%
• YTD: 4.06%
• 6M: 4.13%
• 1Y: 9.37%
• 3Y*: 8.65%
• 5Y*: —
• 10Y*: —

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

BIOY vs. BUYW - Yearly Performance Comparison

	2026 (YTD)
BIOY GraniteShares YieldBOOST Biotech ETF	0.69%
BUYW Main Buywrite ETF	1.64%

Correlation

The correlation between BIOY and BUYW is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 5, 2026	0.10

Return for Risk

BIOY vs. BUYW — Risk / Return Rank

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

BIOY

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

BUYW

BUYW Risk / Return Rank: 79
BUYW Sharpe Ratio Rank: 70
BUYW Sortino Ratio Rank: 76
BUYW Omega Ratio Rank: 76
BUYW Calmar Ratio Rank: 81
BUYW Martin Ratio Rank: 92

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.

BIOY vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST Biotech ETF (BIOY) and Main Buywrite ETF (BUYW). 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.

	BIOY	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	—	1.94	—
Sortino ratio: Return per unit of downside risk	—	2.91	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	3.63	—
Martin ratio: Return relative to average drawdown	—	19.35	—

Drawdowns

BIOY vs. BUYW - Drawdown Comparison

The maximum BIOY drawdown since its inception was -5.07%, smaller than the maximum BUYW drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for BIOY and BUYW.

Drawdown Indicators

	BIOY	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-5.07%	-9.36%	+4.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.76%	0.00%	-0.76%
Average Drawdown Average peak-to-trough decline	-2.21%	-0.60%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.49%	—

Volatility

Volatility by Period

	BIOY	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.90%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.02%	4.86%	+11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	8.42%	+7.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	8.42%	+7.60%

BIOY vs. BUYW - Expense Ratio Comparison

BIOY has a 1.07% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

BIOY vs. BUYW - Dividend Comparison

BIOY's dividend yield for the trailing twelve months is around 9.48%, more than BUYW's 5.92% yield.

Position	TTM	2025	2024	2023	2022
BIOY GraniteShares YieldBOOST Biotech ETF	9.48%	0.00%	0.00%	0.00%	0.00%
BUYW Main Buywrite ETF	5.92%	5.89%	5.93%	5.95%	0.50%

Frequently Asked Questions

Can I hold both BIOY and BUYW in my portfolio?

BIOY and BUYW have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BIOY or BUYW?

On fees, BIOY is cheaper at 1.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BIOY or BUYW?

BIOY is cheaper with a 1.07% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, BIOY or BUYW?

BIOY has the higher dividend yield at 9.48%, compared with 5.92% for BUYW.

What is the main difference between BIOY and BUYW?

They also come from different issuers: GraniteShares and Main Funds. Their fees differ too: 1.07% for BIOY and 1.29% for BUYW.