CRSH vs. IQQQ

Last updated Jul 15, 2026

CRSH (YieldMax Short TSLA Option Income Strategy ETF) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - CRSH is a Derivative Income fund actively managed by YieldMax, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. CRSH is actively managed, while IQQQ is passively managed. Over the past year, CRSH returned -16.43% vs 26.85% for IQQQ. At a correlation of -0.61, they often move in opposite directions. CRSH charges 0.99%/yr vs 0.55%/yr for IQQQ.

Performance

CRSH vs. IQQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short TSLA Option Income Strategy ETF (CRSH) and ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRSH achieves a 8.10% return, which is significantly lower than IQQQ's 14.90% return.

CRSH

• 1D: -0.29%
• 1M: 1.86%
• 6M: 7.60%
• YTD: 8.10%
• 1Y: -16.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IQQQ

• 1D: 1.08%
• 1M: -0.58%
• 6M: 12.88%
• YTD: 14.90%
• 1Y: 26.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CRSH vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	8.10%	-13.40%	-52.42%
IQQQ ProShares Nasdaq-100 High Income ETF	14.90%	17.11%	18.59%

Correlation

The correlation between CRSH and IQQQ is -0.62, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.62
Correlation (All Time) Calculated using the full available price history since May 2, 2024	-0.61

The correlation between CRSH and IQQQ has been stable across timeframes, ranging from -0.62 to -0.61 - a consistent structural relationship.

Return for Risk

CRSH vs. IQQQ — Risk / Return Rank

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

CRSH

CRSH Risk / Return Rank: 5
CRSH Sharpe Ratio Rank: 5
CRSH Sortino Ratio Rank: 5
CRSH Omega Ratio Rank: 6
CRSH Calmar Ratio Rank: 5
CRSH Martin Ratio Rank: 6

IQQQ

IQQQ Risk / Return Rank: 56
IQQQ Sharpe Ratio Rank: 56
IQQQ Sortino Ratio Rank: 52
IQQQ Omega Ratio Rank: 52
IQQQ Calmar Ratio Rank: 61
IQQQ Martin Ratio Rank: 58

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.

CRSH vs. IQQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short TSLA Option Income Strategy ETF (CRSH) and ProShares Nasdaq-100 High Income ETF (IQQQ). 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.

	CRSH	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	1.53	-1.99
Sortino ratio: Return per unit of downside risk	-0.44	2.04	-2.48
Omega ratio: Gain probability vs. loss probability	0.95	1.26	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.52	2.42	-2.95
Martin ratio: Return relative to average drawdown	-0.81	7.99	-8.80

CRSH vs. IQQQ - Sharpe Ratio Comparison

The current CRSH Sharpe Ratio is -0.46, which is lower than the IQQQ Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of CRSH and IQQQ, 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

CRSH vs. IQQQ - Drawdown Comparison

The maximum CRSH drawdown since its inception was -63.68%, which is greater than IQQQ's maximum drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for CRSH and IQQQ.

Drawdown Indicators

	CRSH	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-63.68%	-20.41%	-43.27%
Max Drawdown (1Y) Largest decline over 1 year	-31.54%	-11.13%	-20.41%
Current Drawdown Current decline from peak	-57.47%	-3.51%	-53.96%
Average Drawdown Average peak-to-trough decline	-43.77%	-3.63%	-40.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.28%	3.37%	+16.91%

Volatility

CRSH vs. IQQQ - Volatility Comparison

YieldMax Short TSLA Option Income Strategy ETF (CRSH) has a higher volatility of 13.51% compared to ProShares Nasdaq-100 High Income ETF (IQQQ) at 7.33%. This indicates that CRSH's price experiences larger fluctuations and is considered to be riskier than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRSH	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.51%	7.33%	+6.18%
Volatility (6M) Calculated over the trailing 6-month period	24.78%	14.35%	+10.43%
Volatility (1Y) Calculated over the trailing 1-year period	36.12%	17.61%	+18.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.36%	19.15%	+28.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.36%	19.15%	+28.21%

CRSH vs. IQQQ - Expense Ratio Comparison

CRSH has a 0.99% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

CRSH vs. IQQQ - Dividend Comparison

CRSH's dividend yield for the trailing twelve months is around 81.25%, more than IQQQ's 5.20% yield.

Position	TTM	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	81.25%	138.78%	94.25%
IQQQ ProShares Nasdaq-100 High Income ETF	5.20%	10.34%	7.27%

Frequently Asked Questions

Can I hold both CRSH and IQQQ in my portfolio?

CRSH and IQQQ have a correlation of -0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRSH or IQQQ?

CRSH has higher volatility (13.51%) compared to IQQQ (7.33%). In terms of maximum drawdown, CRSH dropped -63.68% vs IQQQ's -20.41%.

Which ETF is better, CRSH or IQQQ?

On 1-year performance, IQQQ leads with 26.85% vs -16.43% for CRSH. On fees, IQQQ is cheaper at 0.55% per year. On volatility, IQQQ has been the lower-risk option at 7.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRSH or IQQQ?

Over the 1-year period, IQQQ has performed better with a 26.85% return vs -16.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRSH or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.99% for CRSH.

Which ETF pays a higher dividend yield, CRSH or IQQQ?

CRSH has the higher dividend yield at 81.25%, compared with 5.20% for IQQQ.

What is the main difference between CRSH and IQQQ?

CRSH is categorized as Derivative Income, while IQQQ is Nasdaq-100. They also come from different issuers: YieldMax and ProShares. Their fees differ too: 0.99% for CRSH and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (1.53 vs -0.46), 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.