CONY vs. XDTE

Last updated Jun 14, 2026

CONY (YieldMax COIN Option Income Strategy ETF) and XDTE (Roundhill S&P 500 0DTE Covered Call Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, CONY returned -40.52% vs 23.13% for XDTE. A 0.56 correlation means they provide meaningful diversification when combined. CONY charges 0.99%/yr vs 0.97%/yr for XDTE.

Performance

CONY vs. XDTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax COIN Option Income Strategy ETF (CONY) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CONY achieves a -26.18% return, which is significantly lower than XDTE's 6.97% return.

CONY

• 1D: -0.24%
• 1M: -15.05%
• YTD: -26.18%
• 6M: -35.63%
• 1Y: -40.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XDTE

• 1D: 0.65%
• 1M: -0.01%
• YTD: 6.97%
• 6M: 7.43%
• 1Y: 23.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CONY vs. XDTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CONY YieldMax COIN Option Income Strategy ETF	-26.18%	-26.34%	8.90%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	6.97%	12.60%	17.12%

Correlation

The correlation between CONY and XDTE 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 Mar 7, 2024	0.56

The correlation between CONY and XDTE has been stable across timeframes, ranging from 0.56 to 0.56 - a consistent structural relationship.

Return for Risk

CONY vs. XDTE — 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: 4
CONY Sortino Ratio Rank: 4
CONY Omega Ratio Rank: 4
CONY Calmar Ratio Rank: 4
CONY Martin Ratio Rank: 5

XDTE

XDTE Risk / Return Rank: 68
XDTE Sharpe Ratio Rank: 68
XDTE Sortino Ratio Rank: 64
XDTE Omega Ratio Rank: 68
XDTE Calmar Ratio Rank: 65
XDTE Martin Ratio Rank: 76

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. XDTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax COIN Option Income Strategy ETF (CONY) and Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE). 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	XDTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.69	1.92	-2.61
Sortino ratio: Return per unit of downside risk	-0.82	2.55	-3.37
Omega ratio: Gain probability vs. loss probability	0.90	1.35	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.64	2.84	-3.48
Martin ratio: Return relative to average drawdown	-1.04	12.55	-13.59

CONY vs. XDTE - Sharpe Ratio Comparison

The current CONY Sharpe Ratio is -0.69, which is lower than the XDTE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of CONY and XDTE, 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. XDTE - Drawdown Comparison

The maximum CONY drawdown since its inception was -63.57%, which is greater than XDTE's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for CONY and XDTE.

Drawdown Indicators

	CONY	XDTE	Difference
Max Drawdown Largest peak-to-trough decline	-63.57%	-19.09%	-44.48%
Max Drawdown (1Y) Largest decline over 1 year	-63.39%	-7.68%	-55.71%
Current Drawdown Current decline from peak	-58.18%	-2.36%	-55.82%
Average Drawdown Average peak-to-trough decline	-22.54%	-2.32%	-20.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.91%	1.74%	+37.17%

Volatility

CONY vs. XDTE - Volatility Comparison

YieldMax COIN Option Income Strategy ETF (CONY) has a higher volatility of 16.52% compared to Roundhill S&P 500 0DTE Covered Call Strategy ETF (XDTE) at 3.93%. This indicates that CONY's price experiences larger fluctuations and is considered to be riskier than XDTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CONY	XDTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.52%	3.93%	+12.59%
Volatility (6M) Calculated over the trailing 6-month period	44.47%	8.88%	+35.59%
Volatility (1Y) Calculated over the trailing 1-year period	58.75%	11.38%	+47.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.03%	13.92%	+46.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.03%	13.92%	+46.11%

CONY vs. XDTE - Expense Ratio Comparison

CONY has a 0.99% expense ratio, which is higher than XDTE's 0.97% expense ratio.

Dividends

CONY vs. XDTE - Dividend Comparison

CONY's dividend yield for the trailing twelve months is around 199.22%, more than XDTE's 33.43% yield.

Position	TTM	2025	2024	2023
CONY YieldMax COIN Option Income Strategy ETF	199.22%	192.07%	155.66%	16.43%
XDTE Roundhill S&P 500 0DTE Covered Call Strategy ETF	33.43%	39.16%	20.35%	0.00%

Frequently Asked Questions

Can I hold both CONY and XDTE in my portfolio?

CONY and XDTE 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.

Which is riskier, CONY or XDTE?

CONY has higher volatility (16.52%) compared to XDTE (3.93%). In terms of maximum drawdown, CONY dropped -63.57% vs XDTE's -19.09%.

Which ETF is better, CONY or XDTE?

On 1-year performance, XDTE leads with 23.13% vs -40.52% for CONY. On fees, XDTE is cheaper at 0.97% per year. On volatility, XDTE has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CONY or XDTE?

Over the 1-year period, XDTE has performed better with a 23.13% return vs -40.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CONY or XDTE?

XDTE is cheaper with a 0.97% expense ratio, compared with 0.99% for CONY.

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

CONY has the higher dividend yield at 199.22%, compared with 33.43% for XDTE.

What is the main difference between CONY and XDTE?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 0.99% for CONY and 0.97% for XDTE.

Which has better risk-adjusted returns?

XDTE currently has the higher Sharpe Ratio (1.92 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.