CHPY vs. YBTC

Last updated Jul 21, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and YBTC (Roundhill Bitcoin Covered Call Strategy ETF) are both exchange-traded funds - CHPY is a Derivative Income fund actively managed by YieldMax, while YBTC is a Cryptocurrency fund actively managed by Roundhill. Both are actively managed. Over the past year, CHPY returned 94.78% vs -40.78% for YBTC. At a 0.37 correlation, their price movements are largely independent. CHPY charges 0.99%/yr vs 0.95%/yr for YBTC.

Performance

CHPY vs. YBTC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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 YBTC's -22.14% return.

CHPY

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

YBTC

• 1D: 0.90%
• 1M: 4.64%
• 6M: -28.05%
• YTD: -22.14%
• 1Y: -40.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.04%

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

CHPY vs. YBTC - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	60.59%	56.76%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-22.14%	0.37%

Correlation

The correlation between CHPY and YBTC is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.37

Return for Risk

CHPY vs. YBTC — 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

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 2
YBTC Martin Ratio Rank: 2

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. YBTC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) and Roundhill Bitcoin Covered Call Strategy ETF (YBTC). 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	YBTC	Difference
Sharpe ratio: Return per unit of total volatility	2.66	-1.02	+3.68
Sortino ratio: Return per unit of downside risk	3.00	-1.44	+4.44
Omega ratio: Gain probability vs. loss probability	1.42	0.82	+0.60
Calmar ratio: Return relative to maximum drawdown	5.22	-0.84	+6.05
Martin ratio: Return relative to average drawdown	20.81	-1.35	+22.16

CHPY vs. YBTC - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 2.66, which is higher than the YBTC Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of CHPY and YBTC, 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. YBTC - Drawdown Comparison

The maximum CHPY drawdown since its inception was -18.27%, smaller than the maximum YBTC drawdown of -48.84%. Use the drawdown chart below to compare losses from any high point for CHPY and YBTC.

Drawdown Indicators

	CHPY	YBTC	Difference
Max Drawdown Largest peak-to-trough decline	-18.27%	-48.84%	+30.57%
Max Drawdown (1Y) Largest decline over 1 year	-18.27%	-48.84%	+30.57%
Current Drawdown Current decline from peak	-18.22%	-43.14%	+24.92%
Average Drawdown Average peak-to-trough decline	-2.58%	-14.50%	+11.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	30.27%	-25.70%

Volatility

CHPY vs. YBTC - Volatility Comparison

YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a higher volatility of 17.75% compared to Roundhill Bitcoin Covered Call Strategy ETF (YBTC) at 9.15%. This indicates that CHPY's price experiences larger fluctuations and is considered to be riskier than YBTC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CHPY	YBTC	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.75%	9.15%	+8.60%
Volatility (6M) Calculated over the trailing 6-month period	31.44%	32.48%	-1.04%
Volatility (1Y) Calculated over the trailing 1-year period	35.88%	40.18%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.81%	40.65%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.81%	40.65%	-2.84%

CHPY vs. YBTC - Expense Ratio Comparison

CHPY has a 0.99% expense ratio, which is higher than YBTC's 0.95% expense ratio.

Dividends

CHPY vs. YBTC - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 36.46%, less than YBTC's 82.41% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	36.46%	28.19%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	82.41%	76.04%	44.53%

Frequently Asked Questions

Can I hold both CHPY and YBTC in my portfolio?

CHPY and YBTC have a correlation of 0.38, 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 YBTC?

CHPY has higher volatility (17.75%) compared to YBTC (9.15%). In terms of maximum drawdown, CHPY dropped -18.27% vs YBTC's -48.84%.

Which ETF is better, CHPY or YBTC?

On 1-year performance, CHPY leads with 94.78% vs -40.78% for YBTC. On fees, YBTC is cheaper at 0.95% per year. On volatility, YBTC has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or YBTC?

Over the 1-year period, CHPY has performed better with a 94.78% return vs -40.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or YBTC?

YBTC is cheaper with a 0.95% expense ratio, compared with 0.99% for CHPY.

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

YBTC has the higher dividend yield at 82.41%, compared with 36.46% for CHPY.

What is the main difference between CHPY and YBTC?

CHPY is categorized as Derivative Income, while YBTC is Cryptocurrency. They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 0.99% for CHPY and 0.95% for YBTC.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (2.66 vs -1.02), 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.