CONY vs. ARMW

Last updated Jun 3, 2026

CONY (YieldMax COIN Option Income Strategy ETF) and ARMW (Roundhill ARM WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

CONY vs. ARMW - Performance Comparison

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

Returns By Period

In the year-to-date period, CONY achieves a -20.81% return, which is significantly lower than ARMW's 347.83% return.

CONY

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

ARMW

• 1D: -2.18%
• 1M: 110.86%
• YTD: 347.83%
• 6M: 241.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CONY vs. ARMW - Yearly Performance Comparison

	2026 (YTD)	2025
CONY YieldMax COIN Option Income Strategy ETF	-20.81%	-26.12%
ARMW Roundhill ARM WeeklyPay ETF	347.83%	-40.49%

Correlation

The correlation between CONY and ARMW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.41

Return for Risk

CONY vs. ARMW — Risk / Return Rank

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

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.

CONY vs. ARMW - Risk-Adjusted Trends Comparison

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

	CONY	ARMW	Difference
Sharpe ratio Return per unit of total volatility	-0.63	—	—
Sortino ratio Return per unit of downside risk	-0.69	—	—
Omega ratio Gain probability vs. loss probability	0.92	—	—
Calmar ratio Return relative to maximum drawdown	-0.57	—	—
Martin ratio Return relative to average drawdown	-0.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CONY	ARMW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	4.68	-4.51

Drawdowns

CONY vs. ARMW - Drawdown Comparison

The maximum CONY drawdown since its inception was -63.57%, which is greater than ARMW's maximum drawdown of -48.47%. Use the drawdown chart below to compare losses from any high point for CONY and ARMW.

Drawdown Indicators

	CONY	ARMW	Difference
Max Drawdown Largest peak-to-trough decline	-63.57%	-48.47%	-15.10%
Max Drawdown (1Y) Largest decline over 1 year	-63.39%	—	—
Current Drawdown Current decline from peak	-55.14%	-2.18%	-52.96%
Average Drawdown Average peak-to-trough decline	-22.12%	-26.73%	+4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.50%	—	—

Volatility

Volatility by Period

	CONY	ARMW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	43.50%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	58.03%	88.68%	-30.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.00%	88.68%	-28.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.00%	88.68%	-28.68%

CONY vs. ARMW - Expense Ratio Comparison

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

Dividends

CONY vs. ARMW - Dividend Comparison

CONY's dividend yield for the trailing twelve months is around 178.59%, more than ARMW's 15.72% yield.

Position	TTM	2025	2024	2023
ARMW Roundhill ARM WeeklyPay ETF	15.72%	16.38%	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 CONY and ARMW in my portfolio?

CONY and ARMW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CONY or ARMW?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CONY or ARMW?

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

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

CONY has the higher dividend yield at 178.59%, compared with 15.72% for ARMW.

What is the main difference between CONY and ARMW?

They also come from different issuers: YieldMax and Roundhill Investments.