DIPS vs. CWII

Last updated Jun 24, 2026

DIPS (YieldMax Short NVDA Option Income Strategy ETF) and CWII (REX CRWV Growth & Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.41, they often move in opposite directions. DIPS charges 0.99%/yr vs 1.03%/yr for CWII.

Performance

DIPS vs. CWII - Performance Comparison

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

Returns By Period

In the year-to-date period, DIPS achieves a -3.73% return, which is significantly lower than CWII's 13,199.78% return.

DIPS

• 1D: 2.65%
• 1M: 6.84%
• YTD: -3.73%
• 6M: -2.35%
• 1Y: -21.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CWII

• 1D: 0.00%
• 1M: 10,273.16%
• YTD: 13,199.78%
• 6M: 11,946.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DIPS vs. CWII - Yearly Performance Comparison

	2026 (YTD)	2025
DIPS YieldMax Short NVDA Option Income Strategy ETF	-3.73%	11.00%
CWII REX CRWV Growth & Income ETF	13,199.78%	-45.06%

Correlation

The correlation between DIPS and CWII is -0.41, 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 (All Time) Calculated using the full available price history since Nov 4, 2025	-0.41

Return for Risk

DIPS vs. CWII — Risk / Return Rank

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

DIPS

DIPS Risk / Return Rank: 3
DIPS Sharpe Ratio Rank: 3
DIPS Sortino Ratio Rank: 3
DIPS Omega Ratio Rank: 3
DIPS Calmar Ratio Rank: 3
DIPS Martin Ratio Rank: 3

CWII

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. CWII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short NVDA Option Income Strategy ETF (DIPS) and REX CRWV Growth & Income ETF (CWII). 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.

	DIPS	CWII	Difference
Sharpe ratio: Return per unit of total volatility	-0.76	—	—
Sortino ratio: Return per unit of downside risk	-0.96	—	—
Omega ratio: Gain probability vs. loss probability	0.89	—	—
Calmar ratio: Return relative to maximum drawdown	-0.70	—	—
Martin ratio: Return relative to average drawdown	-1.27	—	—

Drawdowns

DIPS vs. CWII - Drawdown Comparison

The maximum DIPS drawdown since its inception was -59.93%, which is greater than CWII's maximum drawdown of -51.04%. Use the drawdown chart below to compare losses from any high point for DIPS and CWII.

Drawdown Indicators

	DIPS	CWII	Difference
Max Drawdown Largest peak-to-trough decline	-59.93%	-51.04%	-8.89%
Max Drawdown (1Y) Largest decline over 1 year	-31.32%	—	—
Current Drawdown Current decline from peak	-53.43%	0.00%	-53.43%
Average Drawdown Average peak-to-trough decline	-38.58%	-33.26%	-5.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.00%	—	—

Volatility

Volatility by Period

	DIPS	CWII	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.87%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.79%	13,701.30%	-13,672.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.95%	13,701.30%	-13,663.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.95%	13,701.30%	-13,663.35%

DIPS vs. CWII - Expense Ratio Comparison

DIPS has a 0.99% expense ratio, which is lower than CWII's 1.03% expense ratio.

Dividends

DIPS vs. CWII - Dividend Comparison

DIPS's dividend yield for the trailing twelve months is around 60.51%, less than CWII's 123.26% yield.

Position	TTM	2025	2024
CWII REX CRWV Growth & Income ETF	123.26%	6.09%	0.00%
DIPS YieldMax Short NVDA Option Income Strategy ETF	60.51%	96.20%	24.18%

Frequently Asked Questions

Can I hold both DIPS and CWII in my portfolio?

DIPS and CWII have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DIPS or CWII?

On fees, DIPS is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DIPS or CWII?

DIPS is cheaper with a 0.99% expense ratio, compared with 1.03% for CWII.

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

CWII has the higher dividend yield at 123.26%, compared with 60.51% for DIPS.

What is the main difference between DIPS and CWII?

They also come from different issuers: YieldMax and REX Shares. Their fees differ too: 0.99% for DIPS and 1.03% for CWII.