CONY vs. IVVW
CONY (YieldMax COIN Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. CONY is actively managed, while IVVW is passively managed. Over the past year, CONY returned -56.86% vs 17.89% for IVVW. A 0.52 correlation means they provide meaningful diversification when combined. CONY charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
CONY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, CONY achieves a -27.89% return, which is significantly lower than IVVW's 6.45% return.
CONY
- 1D
- -0.87%
- 1M
- -2.31%
- 6M
- -32.20%
- YTD
- -27.89%
- 1Y
- -56.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.45%
- 1M
- 1.92%
- 6M
- 5.75%
- YTD
- 6.45%
- 1Y
- 17.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CONY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | -27.89% | -26.34% | 11.56% |
IVVW iShares S&P 500 BuyWrite ETF | 6.45% | 11.71% | 12.76% |
Correlation
The correlation between CONY and IVVW is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.52 |
The correlation between CONY and IVVW has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.
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Return for Risk
CONY vs. IVVW — Risk / Return Rank
CONY
IVVW
CONY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax COIN Option Income Strategy ETF (CONY) and iShares S&P 500 BuyWrite ETF (IVVW). 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 | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.19 | ||
| Sortino ratioReturn per unit of downside risk | -4.61 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.47 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.90 | 3.09 | -3.99 |
| Martin ratioReturn relative to average drawdown | -1.35 | 16.40 | -17.75 |
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Drawdowns
CONY vs. IVVW - Drawdown Comparison
The maximum CONY drawdown since its inception was -63.57%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for CONY and IVVW.
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Drawdown Indicators
| CONY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.57% | -16.79% | -46.78% |
Max Drawdown (1Y)Largest decline over 1 year | -63.39% | -5.81% | -57.58% |
Current DrawdownCurrent decline from peak | -59.15% | -0.45% | -58.70% |
Average DrawdownAverage peak-to-trough decline | -23.48% | -1.70% | -21.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.09% | 1.09% | +41.00% |
Volatility
CONY vs. IVVW - Volatility Comparison
YieldMax COIN Option Income Strategy ETF (CONY) has a higher volatility of 13.98% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 2.98%. This indicates that CONY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CONY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.98% | 2.98% | +11.00% |
Volatility (6M)Calculated over the trailing 6-month period | 45.20% | 7.07% | +38.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.78% | 8.18% | +49.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.76% | 12.60% | +47.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.76% | 12.60% | +47.16% |
CONY vs. IVVW - Expense Ratio Comparison
CONY has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
CONY vs. IVVW - Dividend Comparison
CONY's dividend yield for the trailing twelve months is around 192.94%, more than IVVW's 19.13% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 192.94% | 192.07% | 155.66% | 16.43% |
IVVW iShares S&P 500 BuyWrite ETF | 19.13% | 18.55% | 13.72% | 0.00% |
Frequently Asked Questions
CONY and IVVW have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CONY has higher volatility (13.98%) compared to IVVW (2.98%). In terms of maximum drawdown, CONY dropped -63.57% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 17.89% vs -56.86% for CONY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 2.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 17.89% return vs -56.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for CONY.
CONY has the higher dividend yield at 192.94%, compared with 19.13% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for CONY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.20 vs -0.99), 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.
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