DIPS vs. CRSH

Last updated Jun 4, 2026

DIPS (YieldMax Short NVDA Option Income Strategy ETF) and CRSH (YieldMax Short TSLA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, DIPS returned -26.57% vs -18.24% for CRSH. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

DIPS vs. CRSH - Performance Comparison

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

Returns By Period

In the year-to-date period, DIPS achieves a -8.73% return, which is significantly lower than CRSH's 3.14% return.

DIPS

• 1D: 2.87%
• 1M: -6.32%
• YTD: -8.73%
• 6M: -11.40%
• 1Y: -26.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRSH

• 1D: -0.01%
• 1M: -8.50%
• YTD: 3.14%
• 6M: 3.01%
• 1Y: -18.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIPS vs. CRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIPS YieldMax Short NVDA Option Income Strategy ETF	-8.73%	-31.46%	-23.19%
CRSH YieldMax Short TSLA Option Income Strategy ETF	3.14%	-13.40%	-43.58%

Correlation

The correlation between DIPS and CRSH is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jul 25, 2024	0.36

Return for Risk

DIPS vs. CRSH — Risk / Return Rank

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

DIPS

DIPS Risk / Return Rank: 2
DIPS Sharpe Ratio Rank: 2
DIPS Sortino Ratio Rank: 2
DIPS Omega Ratio Rank: 2
DIPS Calmar Ratio Rank: 2
DIPS Martin Ratio Rank: 2

CRSH

CRSH Risk / Return Rank: 4
CRSH Sharpe Ratio Rank: 4
CRSH Sortino Ratio Rank: 5
CRSH Omega Ratio Rank: 5
CRSH Calmar Ratio Rank: 4
CRSH Martin Ratio Rank: 5

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.

DIPS vs. CRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short NVDA Option Income Strategy ETF (DIPS) and YieldMax Short TSLA Option Income Strategy ETF (CRSH). 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.

	DIPS	CRSH	Difference
Sharpe ratio: Return per unit of total volatility	-0.96	-0.50	-0.46
Sortino ratio: Return per unit of downside risk	-1.28	-0.51	-0.78
Omega ratio: Gain probability vs. loss probability	0.85	0.94	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.78	-0.55	-0.24
Martin ratio: Return relative to average drawdown	-1.36	-0.86	-0.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIPS vs. CRSH - Sharpe Ratio Comparison

The current DIPS Sharpe Ratio is -0.96, which is lower than the CRSH Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of DIPS and CRSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DIPS	CRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.96	-0.50	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.86	-0.71	-0.15

Drawdowns

DIPS vs. CRSH - Drawdown Comparison

The maximum DIPS drawdown since its inception was -59.93%, smaller than the maximum CRSH drawdown of -63.68%. Use the drawdown chart below to compare losses from any high point for DIPS and CRSH.

Drawdown Indicators

	DIPS	CRSH	Difference
Max Drawdown Largest peak-to-trough decline	-59.93%	-63.68%	+3.75%
Max Drawdown (1Y) Largest decline over 1 year	-33.97%	-33.45%	-0.52%
Current Drawdown Current decline from peak	-55.85%	-59.42%	+3.57%
Average Drawdown Average peak-to-trough decline	-38.22%	-43.11%	+4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.49%	21.14%	-1.65%

Volatility

DIPS vs. CRSH - Volatility Comparison

YieldMax Short NVDA Option Income Strategy ETF (DIPS) and YieldMax Short TSLA Option Income Strategy ETF (CRSH) have volatilities of 10.68% and 10.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIPS	CRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.68%	10.19%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	20.77%	22.66%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	27.88%	36.72%	-8.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.03%	47.50%	-9.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.03%	47.50%	-9.47%

DIPS vs. CRSH - Expense Ratio Comparison

Both DIPS and CRSH have an expense ratio of 0.99%.

Dividends

DIPS vs. CRSH - Dividend Comparison

DIPS's dividend yield for the trailing twelve months is around 66.49%, less than CRSH's 96.17% yield.

Position	TTM	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	96.17%	138.78%	94.25%
DIPS YieldMax Short NVDA Option Income Strategy ETF	66.49%	96.20%	24.18%

Frequently Asked Questions

Can I hold both DIPS and CRSH in my portfolio?

DIPS and CRSH have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIPS or CRSH?

DIPS has higher volatility (10.68%) compared to CRSH (10.19%). In terms of maximum drawdown, DIPS dropped -59.93% vs CRSH's -63.68%.

Which ETF is better, DIPS or CRSH?

On 1-year performance, CRSH leads with -18.24% vs -26.57% for DIPS. Both ETFs have the same 0.99% expense ratio. On volatility, CRSH has been the lower-risk option at 10.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIPS or CRSH?

Over the 1-year period, CRSH has performed better with a -18.24% return vs -26.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIPS or CRSH?

DIPS and CRSH have the same expense ratio: 0.99% per year.

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

CRSH has the higher dividend yield at 96.17%, compared with 66.49% for DIPS.

Which has better risk-adjusted returns?

CRSH currently has the higher Sharpe Ratio (-0.50 vs -0.96), 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.