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 1.40% vs -5.45% 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 -17.38% return, which is significantly higher than CVNA's -23.00% return.
CVNY
- 1D
- -0.94%
- 1M
- 3.20%
- 6M
- -23.57%
- YTD
- -17.38%
- 1Y
- 1.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVNA
- 1D
- -1.28%
- 1M
- 1.39%
- 6M
- -30.05%
- YTD
- -23.00%
- 1Y
- -5.45%
- 3Y*
- 105.03%
- 5Y*
- 0.66%
- 10Y*
- —
CVNY vs. CVNA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | -17.38% | 52.13% |
CVNA Carvana Co. | -23.00% | 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 | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | -0.13 | +0.17 |
| Martin ratioReturn relative to average drawdown | 0.08 | -0.27 | +0.34 |
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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 | -25.65% | -32.08% | +6.43% |
Average DrawdownAverage peak-to-trough decline | -14.25% | -38.17% | +23.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.80% | 20.54% | -2.74% |
Volatility
CVNY vs. CVNA - Volatility Comparison
The current volatility for YieldMax CVNA Option Income Strategy ETF (CVNY) is 14.46%, while Carvana Co. (CVNA) has a volatility of 19.65%. 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 | 14.46% | 19.65% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 36.80% | 44.01% | -7.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.08% | 61.05% | -10.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.47% | 111.48% | -54.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.47% | 99.09% | -41.62% |
Dividends
CVNY vs. CVNA - Dividend Comparison
CVNY's dividend yield for the trailing twelve months is around 113.14%, 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 | 113.14% | 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 (19.65%) compared to CVNY (14.46%). In terms of maximum drawdown, CVNY dropped -43.27% vs CVNA's -98.99%.
CVNY currently has the higher Sharpe Ratio (0.03 vs -0.09), 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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