CHPY vs. FTQI

Last updated Jun 25, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and FTQI (First Trust Nasdaq BuyWrite Income ETF) are both exchange-traded funds - CHPY is a Derivative Income fund actively managed by YieldMax, while FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index. CHPY is actively managed, while FTQI is passively managed. Over the past year, CHPY returned 127.37% vs 26.22% for FTQI. A 0.74 correlation means they provide meaningful diversification when combined. CHPY charges 0.99%/yr vs 0.75%/yr for FTQI.

Performance

CHPY vs. FTQI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and First Trust Nasdaq BuyWrite Income ETF (FTQI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHPY achieves a 80.95% return, which is significantly higher than FTQI's 10.72% return.

CHPY

• 1D: -0.95%
• 1M: 9.84%
• YTD: 80.95%
• 6M: 79.34%
• 1Y: 127.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FTQI

• 1D: 0.00%
• 1M: 1.53%
• YTD: 10.72%
• 6M: 9.99%
• 1Y: 26.22%
• 3Y*: 16.88%
• 5Y*: 10.94%
• 10Y*: 8.16%

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

CHPY vs. FTQI - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	80.95%	56.76%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.72%	19.35%

Correlation

The correlation between CHPY and FTQI is 0.72, 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	0.72
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.74

The correlation between CHPY and FTQI has been stable across timeframes, ranging from 0.72 to 0.74 - a consistent structural relationship.

Return for Risk

CHPY vs. FTQI — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 96
CHPY Sharpe Ratio Rank: 97
CHPY Sortino Ratio Rank: 93
CHPY Omega Ratio Rank: 94
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

FTQI

FTQI Risk / Return Rank: 87
FTQI Sharpe Ratio Rank: 86
FTQI Sortino Ratio Rank: 85
FTQI Omega Ratio Rank: 86
FTQI Calmar Ratio Rank: 85
FTQI 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.

CHPY vs. FTQI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and First Trust Nasdaq BuyWrite Income ETF (FTQI). 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.

	CHPY	FTQI	Difference
Sharpe ratio: Return per unit of total volatility	3.94	2.48	+1.46
Sortino ratio: Return per unit of downside risk	4.14	3.41	+0.74
Omega ratio: Gain probability vs. loss probability	1.61	1.47	+0.14
Calmar ratio: Return relative to maximum drawdown	10.53	4.22	+6.31
Martin ratio: Return relative to average drawdown	36.72	20.11	+16.61

CHPY vs. FTQI - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 3.94, which is higher than the FTQI Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of CHPY and FTQI, 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

CHPY vs. FTQI - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.19%, smaller than the maximum FTQI drawdown of -19.42%. Use the drawdown chart below to compare losses from any high point for CHPY and FTQI.

Drawdown Indicators

	CHPY	FTQI	Difference
Max Drawdown Largest peak-to-trough decline	-12.19%	-19.42%	+7.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-6.24%	-5.93%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-19.42%	—
Current Drawdown Current decline from peak	-7.85%	-0.90%	-6.95%
Average Drawdown Average peak-to-trough decline	-2.15%	-3.74%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	1.31%	+2.17%

Volatility

CHPY vs. FTQI - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 19.71% compared to First Trust Nasdaq BuyWrite Income ETF (FTQI) at 3.26%. This indicates that CHPY's price experiences larger fluctuations and is considered to be riskier than FTQI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHPY	FTQI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.71%	3.26%	+16.45%
Volatility (6M) Calculated over the trailing 6-month period	27.92%	8.52%	+19.40%
Volatility (1Y) Calculated over the trailing 1-year period	32.59%	10.64%	+21.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.33%	14.83%	+21.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.33%	13.33%	+23.00%

CHPY vs. FTQI - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is higher than FTQI's 0.75% expense ratio.

Dividends

CHPY vs. FTQI - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 29.92%, more than FTQI's 10.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHPY YieldMax Semiconductor Portfolio Option Income ETF	29.92%	28.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FTQI First Trust Nasdaq BuyWrite Income ETF	10.97%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%

Frequently Asked Questions

Can I hold both CHPY and FTQI in my portfolio?

CHPY and FTQI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHPY or FTQI?

CHPY has higher volatility (19.71%) compared to FTQI (3.26%). In terms of maximum drawdown, CHPY dropped -12.19% vs FTQI's -19.42%.

Which ETF is better, CHPY or FTQI?

On 1-year performance, CHPY leads with 127.37% vs 26.22% for FTQI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or FTQI?

Over the 1-year period, CHPY has performed better with a 127.37% return vs 26.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or FTQI?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.99% for CHPY.

Which ETF pays a higher dividend yield, CHPY or FTQI?

CHPY has the higher dividend yield at 29.92%, compared with 10.97% for FTQI.

What is the main difference between CHPY and FTQI?

CHPY is categorized as Derivative Income, while FTQI is Nasdaq-100. They also come from different issuers: YieldMax and First Trust. Their fees differ too: 0.99% for CHPY and 0.75% for FTQI.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (3.94 vs 2.48), 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.