COIW vs. CONY

Last updated Jun 3, 2026

COIW (COIN WeeklyPay™ ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, COIW returned -40.15% vs -36.44% for CONY. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

COIW vs. CONY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in COIN WeeklyPay™ ETF (COIW) and YieldMax COIN Option Income Strategy ETF (CONY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COIW achieves a -29.00% return, which is significantly lower than CONY's -20.81% return.

COIW

• 1D: -5.58%
• 1M: -10.71%
• YTD: -29.00%
• 6M: -41.30%
• 1Y: -40.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CONY

• 1D: -3.59%
• 1M: -7.49%
• YTD: -20.81%
• 6M: -29.16%
• 1Y: -36.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COIW vs. CONY - Yearly Performance Comparison

	2026 (YTD)	2025
COIW COIN WeeklyPay™ ETF	-29.00%	-23.77%
CONY YieldMax COIN Option Income Strategy ETF	-20.81%	-28.95%

Correlation

The correlation between COIW and CONY is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.99

The correlation between COIW and CONY has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

COIW vs. CONY — Risk / Return Rank

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

COIW

COIW Risk / Return Rank: 5
COIW Sharpe Ratio Rank: 5
COIW Sortino Ratio Rank: 6
COIW Omega Ratio Rank: 6
COIW Calmar Ratio Rank: 4
COIW Martin Ratio Rank: 4

CONY

CONY Risk / Return Rank: 4
CONY Sharpe Ratio Rank: 3
CONY Sortino Ratio Rank: 4
CONY Omega Ratio Rank: 4
CONY Calmar Ratio Rank: 4
CONY Martin Ratio Rank: 4

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.

COIW vs. CONY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for COIN WeeklyPay™ ETF (COIW) and YieldMax COIN Option Income Strategy ETF (CONY). 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.

	COIW	CONY	Difference
Sharpe ratio Return per unit of total volatility	-0.48	-0.63	+0.15
Sortino ratio Return per unit of downside risk	-0.28	-0.69	+0.40
Omega ratio Gain probability vs. loss probability	0.97	0.92	+0.05
Calmar ratio Return relative to maximum drawdown	-0.54	-0.57	+0.03
Martin ratio Return relative to average drawdown	-0.86	-0.96	+0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COIW vs. CONY - Sharpe Ratio Comparison

The current COIW Sharpe Ratio is -0.48, which is comparable to the CONY Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of COIW and CONY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COIW	CONY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	-0.63	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	-0.42	0.17	-0.59

Drawdowns

COIW vs. CONY - Drawdown Comparison

The maximum COIW drawdown since its inception was -74.55%, which is greater than CONY's maximum drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for COIW and CONY.

Drawdown Indicators

	COIW	CONY	Difference
Max Drawdown Largest peak-to-trough decline	-74.55%	-63.57%	-10.98%
Max Drawdown (1Y) Largest decline over 1 year	-74.55%	-63.39%	-11.16%
Current Drawdown Current decline from peak	-67.85%	-55.14%	-12.71%
Average Drawdown Average peak-to-trough decline	-37.62%	-22.12%	-15.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	46.49%	37.50%	+8.99%

Volatility

COIW vs. CONY - Volatility Comparison

COIN WeeklyPay™ ETF (COIW) has a higher volatility of 22.96% compared to YieldMax COIN Option Income Strategy ETF (CONY) at 15.91%. This indicates that COIW's price experiences larger fluctuations and is considered to be riskier than CONY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COIW	CONY	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.96%	15.91%	+7.05%
Volatility (6M) Calculated over the trailing 6-month period	61.71%	43.50%	+18.21%
Volatility (1Y) Calculated over the trailing 1-year period	84.55%	58.03%	+26.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.95%	60.00%	+30.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.95%	60.00%	+30.95%

COIW vs. CONY - Expense Ratio Comparison

Both COIW and CONY have an expense ratio of 0.99%.

Dividends

COIW vs. CONY - Dividend Comparison

COIW's dividend yield for the trailing twelve months is around 209.03%, more than CONY's 178.59% yield.

Position	TTM	2025	2024	2023
COIW COIN WeeklyPay™ ETF	209.03%	120.37%	0.00%	0.00%
CONY YieldMax COIN Option Income Strategy ETF	178.59%	192.07%	155.66%	16.43%

Frequently Asked Questions

Can I hold both COIW and CONY in my portfolio?

With a correlation of 0.99, COIW and CONY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, COIW or CONY?

COIW has higher volatility (22.96%) compared to CONY (15.91%). In terms of maximum drawdown, COIW dropped -74.55% vs CONY's -63.57%.

Which ETF is better, COIW or CONY?

On 1-year performance, CONY leads with -36.44% vs -40.15% for COIW. Both ETFs have the same 0.99% expense ratio. On volatility, CONY has been the lower-risk option at 15.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COIW or CONY?

Over the 1-year period, CONY has performed better with a -36.44% return vs -40.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COIW or CONY?

COIW and CONY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, COIW or CONY?

COIW has the higher dividend yield at 209.03%, compared with 178.59% for CONY.

What is the main difference between COIW and CONY?

They also come from different issuers: Roundhill and YieldMax.

Which has better risk-adjusted returns?

COIW currently has the higher Sharpe Ratio (-0.48 vs -0.63), 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.