CONY vs. COIW

Last updated Jun 24, 2026

CONY (YieldMax COIN Option Income Strategy ETF) and COIW (COIN WeeklyPay™ ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CONY returned -49.52% vs -58.88% for COIW. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

CONY vs. COIW - Performance Comparison

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

Returns By Period

In the year-to-date period, CONY achieves a -26.79% return, which is significantly higher than COIW's -37.10% return.

CONY

• 1D: -3.16%
• 1M: -11.77%
• YTD: -26.79%
• 6M: -30.97%
• 1Y: -49.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COIW

• 1D: -4.43%
• 1M: -17.85%
• YTD: -37.10%
• 6M: -42.22%
• 1Y: -58.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CONY vs. COIW - Yearly Performance Comparison

	2026 (YTD)	2025
CONY YieldMax COIN Option Income Strategy ETF	-26.79%	-30.32%
COIW COIN WeeklyPay™ ETF	-37.10%	-25.92%

Correlation

The correlation between CONY and COIW 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 19, 2025	0.99

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

Return for Risk

CONY vs. COIW — Risk / Return Rank

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

CONY

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

COIW

COIW Risk / Return Rank: 3
COIW Sharpe Ratio Rank: 3
COIW Sortino Ratio Rank: 3
COIW Omega Ratio Rank: 4
COIW Calmar Ratio Rank: 2
COIW Martin Ratio Rank: 3

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. COIW - Risk-Adjusted Trends Comparison

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

	CONY	COIW	Difference
Sharpe ratio: Return per unit of total volatility	-0.86	-0.71	-0.15
Sortino ratio: Return per unit of downside risk	-1.22	-0.95	-0.27
Omega ratio: Gain probability vs. loss probability	0.86	0.89	-0.04
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.79	+0.01
Martin ratio: Return relative to average drawdown	-1.24	-1.19	-0.05

CONY vs. COIW - Sharpe Ratio Comparison

The current CONY Sharpe Ratio is -0.86, which is comparable to the COIW Sharpe Ratio of -0.71. The chart below compares the historical Sharpe Ratios of CONY and COIW, 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

CONY vs. COIW - Drawdown Comparison

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

Drawdown Indicators

	CONY	COIW	Difference
Max Drawdown Largest peak-to-trough decline	-63.57%	-74.55%	+10.98%
Max Drawdown (1Y) Largest decline over 1 year	-63.39%	-74.55%	+11.16%
Current Drawdown Current decline from peak	-58.53%	-71.52%	+12.99%
Average Drawdown Average peak-to-trough decline	-22.83%	-39.31%	+16.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.89%	49.39%	-9.50%

Volatility

CONY vs. COIW - Volatility Comparison

The current volatility for YieldMax COIN Option Income Strategy ETF (CONY) is 15.74%, while COIN WeeklyPay™ ETF (COIW) has a volatility of 22.33%. This indicates that CONY experiences smaller price fluctuations and is considered to be less risky than COIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONY	COIW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.74%	22.33%	-6.59%
Volatility (6M) Calculated over the trailing 6-month period	44.42%	63.06%	-18.64%
Volatility (1Y) Calculated over the trailing 1-year period	57.79%	82.90%	-25.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	59.89%	90.36%	-30.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.89%	90.36%	-30.47%

CONY vs. COIW - Expense Ratio Comparison

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

Dividends

CONY vs. COIW - Dividend Comparison

CONY's dividend yield for the trailing twelve months is around 204.97%, less than COIW's 237.77% yield.

Position	TTM	2025	2024	2023
COIW COIN WeeklyPay™ ETF	237.77%	120.37%	0.00%	0.00%
CONY YieldMax COIN Option Income Strategy ETF	204.97%	192.07%	155.66%	16.43%

Frequently Asked Questions

Can I hold both CONY and COIW in my portfolio?

With a correlation of 0.99, CONY and COIW 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, CONY or COIW?

COIW has higher volatility (22.33%) compared to CONY (15.74%). In terms of maximum drawdown, CONY dropped -63.57% vs COIW's -74.55%.

Which ETF is better, CONY or COIW?

On 1-year performance, CONY leads with -49.52% vs -58.88% for COIW. Both ETFs have the same 0.99% expense ratio. On volatility, CONY has been the lower-risk option at 15.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CONY or COIW?

Over the 1-year period, CONY has performed better with a -49.52% return vs -58.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CONY or COIW?

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

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

COIW has the higher dividend yield at 237.77%, compared with 204.97% for CONY.

What is the main difference between CONY and COIW?

They also come from different issuers: YieldMax and Roundhill.

Which has better risk-adjusted returns?

COIW currently has the higher Sharpe Ratio (-0.71 vs -0.86), 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.