COIW vs. FIAT

Last updated Jul 14, 2026

COIW (COIN WeeklyPay™ ETF) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, COIW returned -68.94% vs 56.58% for FIAT. At a correlation of -0.98, they often move in opposite directions. Both charge a 0.99% expense ratio.

Performance

COIW vs. FIAT - Performance Comparison

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

Returns By Period

In the year-to-date period, COIW achieves a -37.87% return, which is significantly lower than FIAT's 14.54% return.

COIW

• 1D: -1.35%
• 1M: -2.31%
• 6M: -43.17%
• YTD: -37.87%
• 1Y: -68.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FIAT

• 1D: 1.15%
• 1M: -1.13%
• 6M: 20.55%
• YTD: 14.54%
• 1Y: 56.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COIW vs. FIAT - Yearly Performance Comparison

	2026 (YTD)	2025
COIW COIN WeeklyPay™ ETF	-37.87%	-25.92%
FIAT YieldMax Short COIN Option Income Strategy ETF	14.54%	-20.73%

Correlation

The correlation between COIW and FIAT is -0.98, 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	-0.98
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	-0.98

The correlation between COIW and FIAT has been stable across timeframes, ranging from -0.98 to -0.98 - a consistent structural relationship.

Return for Risk

COIW vs. FIAT — Risk / Return Rank

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

COIW

COIW Risk / Return Rank: 2
COIW Sharpe Ratio Rank: 3
COIW Sortino Ratio Rank: 2
COIW Omega Ratio Rank: 2
COIW Calmar Ratio Rank: 1
COIW Martin Ratio Rank: 2

FIAT

FIAT Risk / Return Rank: 37
FIAT Sharpe Ratio Rank: 38
FIAT Sortino Ratio Rank: 36
FIAT Omega Ratio Rank: 39
FIAT Calmar Ratio Rank: 41
FIAT Martin Ratio Rank: 31

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. FIAT - Risk-Adjusted Trends Comparison

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

	COIW	FIAT	Difference
Sharpe ratio: Return per unit of total volatility	-0.84	1.08	-1.93
Sortino ratio: Return per unit of downside risk	-1.44	1.56	-3.00
Omega ratio: Gain probability vs. loss probability	0.84	1.21	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.92	1.66	-2.58
Martin ratio: Return relative to average drawdown	-1.33	3.58	-4.90

COIW vs. FIAT - Sharpe Ratio Comparison

The current COIW Sharpe Ratio is -0.84, which is lower than the FIAT Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of COIW and FIAT, 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

COIW vs. FIAT - Drawdown Comparison

The maximum COIW drawdown since its inception was -75.01%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for COIW and FIAT.

Drawdown Indicators

	COIW	FIAT	Difference
Max Drawdown Largest peak-to-trough decline	-75.01%	-70.50%	-4.51%
Max Drawdown (1Y) Largest decline over 1 year	-75.01%	-34.22%	-40.79%
Current Drawdown Current decline from peak	-71.87%	-50.63%	-21.24%
Average Drawdown Average peak-to-trough decline	-40.53%	-45.52%	+4.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	52.02%	15.86%	+36.16%

Volatility

COIW vs. FIAT - Volatility Comparison

COIN WeeklyPay™ ETF (COIW) has a higher volatility of 20.49% compared to YieldMax Short COIN Option Income Strategy ETF (FIAT) at 14.26%. This indicates that COIW's price experiences larger fluctuations and is considered to be riskier than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COIW	FIAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.49%	14.26%	+6.23%
Volatility (6M) Calculated over the trailing 6-month period	64.13%	43.65%	+20.48%
Volatility (1Y) Calculated over the trailing 1-year period	82.00%	52.65%	+29.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	89.86%	60.04%	+29.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	89.86%	60.04%	+29.82%

COIW vs. FIAT - Expense Ratio Comparison

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

Dividends

COIW vs. FIAT - Dividend Comparison

COIW's dividend yield for the trailing twelve months is around 237.73%, more than FIAT's 104.63% yield.

Position	TTM	2025	2024
COIW COIN WeeklyPay™ ETF	237.73%	120.37%	0.00%
FIAT YieldMax Short COIN Option Income Strategy ETF	104.63%	178.11%	70.99%

Frequently Asked Questions

Can I hold both COIW and FIAT in my portfolio?

COIW and FIAT have a correlation of -0.98, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COIW or FIAT?

COIW has higher volatility (20.49%) compared to FIAT (14.26%). In terms of maximum drawdown, COIW dropped -75.01% vs FIAT's -70.50%.

Which ETF is better, COIW or FIAT?

On 1-year performance, FIAT leads with 56.58% vs -68.94% for COIW. Both ETFs have the same 0.99% expense ratio. On volatility, FIAT has been the lower-risk option at 14.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COIW or FIAT?

Over the 1-year period, FIAT has performed better with a 56.58% return vs -68.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COIW or FIAT?

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

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

COIW has the higher dividend yield at 237.73%, compared with 104.63% for FIAT.

What is the main difference between COIW and FIAT?

They also come from different issuers: Roundhill and YieldMax.

Which has better risk-adjusted returns?

FIAT currently has the higher Sharpe Ratio (1.08 vs -0.84), 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.