CVNY vs. FBY
CVNY (YieldMax CVNA Option Income Strategy ETF) and FBY (YieldMax META Option Income ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, CVNY returned 4.20% vs -17.63% for FBY. At a 0.43 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
CVNY vs. FBY - Performance Comparison
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Returns By Period
In the year-to-date period, CVNY achieves a -19.08% return, which is significantly lower than FBY's -13.50% return.
CVNY
- 1D
- -2.32%
- 1M
- -2.88%
- YTD
- -19.08%
- 6M
- -21.58%
- 1Y
- 4.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBY
- 1D
- -0.06%
- 1M
- -7.14%
- YTD
- -13.50%
- 6M
- -13.67%
- 1Y
- -17.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVNY vs. FBY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | -19.08% | 52.13% |
FBY YieldMax META Option Income ETF | -13.50% | -7.40% |
Correlation
The correlation between CVNY and FBY is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.43 |
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Return for Risk
CVNY vs. FBY — Risk / Return Rank
CVNY
FBY
CVNY vs. FBY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax CVNA Option Income Strategy ETF (CVNY) and YieldMax META Option Income ETF (FBY). 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 | FBY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.91 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.12 | -0.60 | +0.72 |
| Martin ratioReturn relative to average drawdown | 0.25 | -1.22 | +1.47 |
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Drawdowns
CVNY vs. FBY - Drawdown Comparison
The maximum CVNY drawdown since its inception was -43.27%, which is greater than FBY's maximum drawdown of -31.53%. Use the drawdown chart below to compare losses from any high point for CVNY and FBY.
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Drawdown Indicators
| CVNY | FBY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.27% | -31.53% | -11.74% |
Max Drawdown (1Y)Largest decline over 1 year | -36.27% | -29.50% | -6.77% |
Current DrawdownCurrent decline from peak | -27.18% | -25.66% | -1.52% |
Average DrawdownAverage peak-to-trough decline | -13.84% | -8.09% | -5.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.85% | 14.46% | +2.39% |
Volatility
CVNY vs. FBY - Volatility Comparison
YieldMax CVNA Option Income Strategy ETF (CVNY) has a higher volatility of 16.20% compared to YieldMax META Option Income ETF (FBY) at 10.24%. This indicates that CVNY's price experiences larger fluctuations and is considered to be riskier than FBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CVNY | FBY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.20% | 10.24% | +5.96% |
Volatility (6M)Calculated over the trailing 6-month period | 36.90% | 23.30% | +13.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.75% | 29.60% | +20.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 57.98% | 28.65% | +29.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 57.98% | 28.65% | +29.33% |
CVNY vs. FBY - Expense Ratio Comparison
Both CVNY and FBY have an expense ratio of 0.99%.
Dividends
CVNY vs. FBY - Dividend Comparison
CVNY's dividend yield for the trailing twelve months is around 114.88%, more than FBY's 57.98% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | 114.88% | 80.86% | 0.00% | 0.00% |
FBY YieldMax META Option Income ETF | 57.98% | 55.43% | 53.89% | 8.31% |
Frequently Asked Questions
CVNY and FBY have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVNY has higher volatility (16.20%) compared to FBY (10.24%). In terms of maximum drawdown, CVNY dropped -43.27% vs FBY's -31.53%.
On 1-year performance, CVNY leads with 4.20% vs -17.63% for FBY. Both ETFs have the same 0.99% expense ratio. On volatility, FBY has been the lower-risk option at 10.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CVNY has performed better with a 4.20% return vs -17.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CVNY and FBY have the same expense ratio: 0.99% per year.
CVNY has the higher dividend yield at 114.88%, compared with 57.98% for FBY.
CVNY currently has the higher Sharpe Ratio (0.08 vs -0.60), 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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