CONY vs. SPYG
CONY (YieldMax COIN Option Income Strategy ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - CONY is a Derivative Income fund actively managed by YieldMax, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. CONY is actively managed, while SPYG is passively managed. Over the past year, CONY returned -40.52% vs 29.17% for SPYG. A 0.54 correlation means they provide meaningful diversification when combined. CONY charges 0.99%/yr vs 0.04%/yr for SPYG.
Performance
CONY vs. SPYG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CONY achieves a -26.18% return, which is significantly lower than SPYG's 9.70% return.
CONY
- 1D
- -0.24%
- 1M
- -15.05%
- YTD
- -26.18%
- 6M
- -35.63%
- 1Y
- -40.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYG
- 1D
- 0.41%
- 1M
- -1.24%
- YTD
- 9.70%
- 6M
- 10.60%
- 1Y
- 29.17%
- 3Y*
- 25.85%
- 5Y*
- 14.92%
- 10Y*
- 17.91%
CONY vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | -26.18% | -26.34% | 23.62% | 76.18% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 9.70% | 22.09% | 35.99% | 6.54% |
Correlation
The correlation between CONY and SPYG is 0.56, 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 | 0.56 |
Correlation (All Time) Calculated using the full available price history since Aug 15, 2023 | 0.54 |
The correlation between CONY and SPYG has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CONY vs. SPYG — Risk / Return Rank
CONY
SPYG
CONY vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax COIN Option Income Strategy ETF (CONY) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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 | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.29 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 2.01 | -2.65 |
| Martin ratioReturn relative to average drawdown | -1.04 | 8.08 | -9.12 |
Loading charts...
Drawdowns
CONY vs. SPYG - Drawdown Comparison
The maximum CONY drawdown since its inception was -63.57%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for CONY and SPYG.
Loading charts...
Drawdown Indicators
| CONY | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.57% | -67.63% | +4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -63.39% | -13.76% | -49.63% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.14% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.67% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -58.18% | -4.65% | -53.53% |
Average DrawdownAverage peak-to-trough decline | -22.54% | -24.30% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.91% | 3.42% | +35.49% |
Volatility
CONY vs. SPYG - Volatility Comparison
YieldMax COIN Option Income Strategy ETF (CONY) has a higher volatility of 16.52% compared to State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) at 6.33%. This indicates that CONY's price experiences larger fluctuations and is considered to be riskier than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CONY | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 6.33% | +10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 44.47% | 13.48% | +30.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.75% | 16.81% | +41.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.03% | 21.27% | +38.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.03% | 20.70% | +39.33% |
CONY vs. SPYG - Expense Ratio Comparison
CONY has a 0.99% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
CONY vs. SPYG - Dividend Comparison
CONY's dividend yield for the trailing twelve months is around 199.22%, more than SPYG's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 199.22% | 192.07% | 155.66% | 16.43% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
CONY and SPYG have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CONY has higher volatility (16.52%) compared to SPYG (6.33%). In terms of maximum drawdown, CONY dropped -63.57% vs SPYG's -67.63%.
On 1-year performance, SPYG leads with 29.17% vs -40.52% for CONY. On fees, SPYG is cheaper at 0.04% per year. On volatility, SPYG has been the lower-risk option at 6.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPYG has performed better with a 29.17% return vs -40.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYG is cheaper with a 0.04% expense ratio, compared with 0.99% for CONY.
CONY has the higher dividend yield at 199.22%, compared with 0.48% for SPYG.
CONY is categorized as Derivative Income, while SPYG is S&P 500. They also come from different issuers: YieldMax and State Street. Their fees differ too: 0.99% for CONY and 0.04% for SPYG.
SPYG currently has the higher Sharpe Ratio (1.65 vs -0.69), 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.
Find the right allocation for CONY and SPYG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer