CHPY vs. RDTY

Last updated Jul 21, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and RDTY (YieldMax™ R2000 0DTE Covered Call Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, CHPY returned 94.78% vs 23.71% for RDTY. A 0.67 correlation means they provide meaningful diversification when combined. CHPY charges 0.99%/yr vs 1.01%/yr for RDTY.

Performance

CHPY vs. RDTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHPY achieves a 60.59% return, which is significantly higher than RDTY's 18.88% return.

CHPY

• 1D: 0.07%
• 1M: -16.49%
• 6M: 45.51%
• YTD: 60.59%
• 1Y: 94.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 104.00%

RDTY

• 1D: -0.34%
• 1M: 1.91%
• 6M: 12.36%
• YTD: 18.88%
• 1Y: 23.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.35%

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

CHPY vs. RDTY - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	60.59%	56.76%
RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF	18.88%	12.99%

Correlation

The correlation between CHPY and RDTY is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.67

The correlation between CHPY and RDTY has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

Return for Risk

CHPY vs. RDTY — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 91
CHPY Sharpe Ratio Rank: 94
CHPY Sortino Ratio Rank: 86
CHPY Omega Ratio Rank: 89
CHPY Calmar Ratio Rank: 94
CHPY Martin Ratio Rank: 95

RDTY

RDTY Risk / Return Rank: 59
RDTY Sharpe Ratio Rank: 54
RDTY Sortino Ratio Rank: 54
RDTY Omega Ratio Rank: 50
RDTY Calmar Ratio Rank: 70
RDTY Martin Ratio Rank: 66

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. RDTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY). 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	RDTY	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.38	+1.28
Sortino ratio: Return per unit of downside risk	3.00	1.99	+1.02
Omega ratio: Gain probability vs. loss probability	1.42	1.24	+0.18
Calmar ratio: Return relative to maximum drawdown	5.22	2.59	+2.63
Martin ratio: Return relative to average drawdown	20.81	8.68	+12.13

CHPY vs. RDTY - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 2.66, which is higher than the RDTY Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of CHPY and RDTY, 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. RDTY - Drawdown Comparison

The maximum CHPY drawdown since its inception was -18.27%, which is greater than RDTY's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for CHPY and RDTY.

Drawdown Indicators

	CHPY	RDTY	Difference
Max Drawdown Largest peak-to-trough decline	-18.27%	-17.31%	-0.96%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-9.20%	-9.07%
Current Drawdown Current decline from peak	-18.22%	-0.85%	-17.37%
Average Drawdown Average peak-to-trough decline	-2.58%	-2.56%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	2.74%	+1.83%

Volatility

CHPY vs. RDTY - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 17.75% compared to YieldMax™ R2000 0DTE Covered Call Strategy ETF (RDTY) at 4.07%. This indicates that CHPY's price experiences larger fluctuations and is considered to be riskier than RDTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHPY	RDTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.75%	4.07%	+13.68%
Volatility (6M) Calculated over the trailing 6-month period	31.44%	13.21%	+18.23%
Volatility (1Y) Calculated over the trailing 1-year period	35.88%	17.28%	+18.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.81%	21.63%	+16.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.81%	21.63%	+16.18%

CHPY vs. RDTY - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is lower than RDTY's 1.01% expense ratio.

Dividends

CHPY vs. RDTY - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 36.46%, less than RDTY's 43.10% yield.

Position	TTM	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	36.46%	28.19%
RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF	43.10%	36.75%

Frequently Asked Questions

Can I hold both CHPY and RDTY in my portfolio?

CHPY and RDTY have a correlation of 0.67, 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 RDTY?

CHPY has higher volatility (17.75%) compared to RDTY (4.07%). In terms of maximum drawdown, CHPY dropped -18.27% vs RDTY's -17.31%.

Which ETF is better, CHPY or RDTY?

On 1-year performance, CHPY leads with 94.78% vs 23.71% for RDTY. On fees, CHPY is cheaper at 0.99% per year. On volatility, RDTY has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or RDTY?

Over the 1-year period, CHPY has performed better with a 94.78% return vs 23.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or RDTY?

CHPY is cheaper with a 0.99% expense ratio, compared with 1.01% for RDTY.

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

RDTY has the higher dividend yield at 43.10%, compared with 36.46% for CHPY.

What is the main difference between CHPY and RDTY?

Their fees differ too: 0.99% for CHPY and 1.01% for RDTY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (2.66 vs 1.38), 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.