CHPY vs. USFR

Last updated Jun 23, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - CHPY is a Derivative Income fund actively managed by YieldMax, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. CHPY is actively managed, while USFR is passively managed. Over the past year, CHPY returned 154.02% vs 3.97% for USFR. At a correlation of -0.17, they often move in opposite directions. CHPY charges 0.99%/yr vs 0.15%/yr for USFR.

Performance

CHPY vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CHPY achieves a 96.36% return, which is significantly higher than USFR's 1.78% return.

CHPY

• 1D: 2.11%
• 1M: 19.19%
• YTD: 96.36%
• 6M: 96.20%
• 1Y: 154.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFR

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.78%
• 6M: 1.89%
• 1Y: 3.97%
• 3Y*: 4.72%
• 5Y*: 3.70%
• 10Y*: 2.43%

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

CHPY vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	96.36%	56.76%
USFR WisdomTree Floating Rate Treasury Fund	1.78%	3.12%

Correlation

The correlation between CHPY and USFR is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	-0.17

Return for Risk

CHPY vs. USFR — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 95
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio: Return per unit of total volatility	4.88	14.65	-9.77
Sortino ratio: Return per unit of downside risk	4.94	49.88	-44.94
Omega ratio: Gain probability vs. loss probability	1.73	13.24	-11.52
Calmar ratio: Return relative to maximum drawdown	12.74	200.29	-187.56
Martin ratio: Return relative to average drawdown	45.23	775.73	-730.50

CHPY vs. USFR - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 4.88, which is lower than the USFR Sharpe Ratio of 14.65. The chart below compares the historical Sharpe Ratios of CHPY and USFR, 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. USFR - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.19%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for CHPY and USFR.

Drawdown Indicators

	CHPY	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-12.19%	-1.36%	-10.83%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-0.02%	-12.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.12%	-0.15%	-1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	0.01%	+3.41%

Volatility

CHPY vs. USFR - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 17.94% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.08%. This indicates that CHPY's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHPY	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	0.08%	+17.86%
Volatility (6M) Calculated over the trailing 6-month period	26.88%	0.19%	+26.69%
Volatility (1Y) Calculated over the trailing 1-year period	31.79%	0.27%	+31.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.81%	0.40%	+35.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.81%	0.78%	+35.03%

CHPY vs. USFR - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

CHPY vs. USFR - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 27.58%, more than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CHPY YieldMax Semiconductor Portfolio Option Income ETF	27.58%	28.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both CHPY and USFR in my portfolio?

CHPY and USFR have a correlation of -0.17, 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 USFR?

CHPY has higher volatility (17.94%) compared to USFR (0.08%). In terms of maximum drawdown, CHPY dropped -12.19% vs USFR's -1.36%.

Which ETF is better, CHPY or USFR?

On 1-year performance, CHPY leads with 154.02% vs 3.97% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or USFR?

Over the 1-year period, CHPY has performed better with a 154.02% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 27.58%, compared with 3.91% for USFR.

What is the main difference between CHPY and USFR?

CHPY is categorized as Derivative Income, while USFR is Government Bonds. They also come from different issuers: YieldMax and WisdomTree. Their fees differ too: 0.99% for CHPY and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (14.65 vs 4.88), 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.