CVNY vs. CVNA
CVNY (YieldMax CVNA Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while CVNA (Carvana Co.) is a stock. Over the past year, CVNY returned 6.92% vs 4.21% for CVNA. With a 0.98 correlation, they move nearly in lockstep.
Performance
CVNY vs. CVNA - Performance Comparison
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Returns By Period
In the year-to-date period, CVNY achieves a -17.17% return, which is significantly higher than CVNA's -21.01% return.
CVNY
- 1D
- -0.12%
- 1M
- -0.57%
- YTD
- -17.17%
- 6M
- -19.03%
- 1Y
- 6.92%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVNA
- 1D
- 0.17%
- 1M
- -2.36%
- YTD
- -21.01%
- 6M
- -23.12%
- 1Y
- 4.21%
- 3Y*
- 149.71%
- 5Y*
- 1.16%
- 10Y*
- —
CVNY vs. CVNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | -17.17% | 52.13% |
CVNA Carvana Co. | -21.01% | 71.93% |
Correlation
The correlation between CVNY and CVNA is 0.98 - 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 | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.98 |
The correlation between CVNY and CVNA has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
CVNY vs. CVNA — Risk / Return Rank
CVNY
CVNA
CVNY vs. CVNA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax CVNA Option Income Strategy ETF (CVNY) and Carvana Co. (CVNA). 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.
| CVNY | CVNA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.07 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.10 | +0.09 |
| Martin ratioReturn relative to average drawdown | 0.41 | 0.22 | +0.19 |
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Drawdowns
CVNY vs. CVNA - Drawdown Comparison
The maximum CVNY drawdown since its inception was -43.27%, smaller than the maximum CVNA drawdown of -98.99%. Use the drawdown chart below to compare losses from any high point for CVNY and CVNA.
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Drawdown Indicators
| CVNY | CVNA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.27% | -98.99% | +55.72% |
Max Drawdown (1Y)Largest decline over 1 year | -36.27% | -41.21% | +4.94% |
Max Drawdown (3Y)Largest decline over 3 years | — | -53.47% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -98.99% | — |
Current DrawdownCurrent decline from peak | -25.46% | -30.33% | +4.87% |
Average DrawdownAverage peak-to-trough decline | -13.80% | -38.22% | +24.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.76% | 19.24% | -2.48% |
Volatility
CVNY vs. CVNA - Volatility Comparison
The current volatility for YieldMax CVNA Option Income Strategy ETF (CVNY) is 16.12%, while Carvana Co. (CVNA) has a volatility of 21.04%. This indicates that CVNY experiences smaller price fluctuations and is considered to be less risky than CVNA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVNY | CVNA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.12% | 21.04% | -4.92% |
Volatility (6M)Calculated over the trailing 6-month period | 36.95% | 44.18% | -7.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.79% | 60.70% | -10.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.03% | 111.39% | -53.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.03% | 99.32% | -41.29% |
Dividends
CVNY vs. CVNA - Dividend Comparison
CVNY's dividend yield for the trailing twelve months is around 112.21%, while CVNA has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CVNA Carvana Co. | 0.00% | 0.00% |
CVNY YieldMax CVNA Option Income Strategy ETF | 112.21% | 80.86% |
Frequently Asked Questions
With a correlation of 0.98, CVNY and CVNA 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.
CVNA has higher volatility (21.04%) compared to CVNY (16.12%). In terms of maximum drawdown, CVNY dropped -43.27% vs CVNA's -98.99%.
CVNY currently has the higher Sharpe Ratio (0.14 vs 0.07), 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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