DISO vs. HYGW
DISO (YieldMax DIS Option Income Strategy ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - DISO is a Derivative Income fund actively managed by YieldMax, while HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index. DISO is actively managed, while HYGW is passively managed. Over the past year, DISO returned -10.16% vs 6.24% for HYGW. At a 0.27 correlation, their price movements are largely independent. DISO charges 1.01%/yr vs 0.69%/yr for HYGW.
Performance
DISO vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, DISO achieves a -10.18% return, which is significantly lower than HYGW's 2.40% return.
DISO
- 1D
- 0.00%
- 1M
- 0.05%
- 6M
- -9.68%
- YTD
- -10.18%
- 1Y
- -10.16%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGW
- 1D
- 0.28%
- 1M
- 0.47%
- 6M
- 1.99%
- YTD
- 2.40%
- 1Y
- 6.24%
- 3Y*
- 5.42%
- 5Y*
- —
- 10Y*
- —
DISO vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DISO YieldMax DIS Option Income Strategy ETF | -10.18% | 2.12% | 14.56% | 9.17% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.40% | 6.19% | 6.99% | 1.22% |
Correlation
The correlation between DISO and HYGW is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.27 |
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Return for Risk
DISO vs. HYGW — Risk / Return Rank
DISO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW
DISO vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax DIS Option Income Strategy ETF (DISO) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| DISO | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.62 | ||
| Sortino ratioReturn per unit of downside risk | -3.68 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.45 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 3.45 | -3.94 |
| Martin ratioReturn relative to average drawdown | -1.08 | 15.67 | -16.74 |
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Drawdowns
DISO vs. HYGW - Drawdown Comparison
The maximum DISO drawdown since its inception was -26.62%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for DISO and HYGW.
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Drawdown Indicators
| DISO | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.62% | -5.49% | -21.13% |
Max Drawdown (1Y)Largest decline over 1 year | -17.19% | -1.82% | -15.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.66% | — |
Current DrawdownCurrent decline from peak | -12.68% | -0.10% | -12.58% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -0.60% | -7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.38% | 0.40% | +7.98% |
Volatility
DISO vs. HYGW - Volatility Comparison
YieldMax DIS Option Income Strategy ETF (DISO) has a higher volatility of 3.29% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.69%. This indicates that DISO's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DISO | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.29% | 0.69% | +2.60% |
Volatility (6M)Calculated over the trailing 6-month period | 15.73% | 2.28% | +13.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.06% | 2.89% | +17.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.36% | 4.64% | +16.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.36% | 4.64% | +16.72% |
DISO vs. HYGW - Expense Ratio Comparison
DISO has a 1.01% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
DISO vs. HYGW - Dividend Comparison
DISO has not paid dividends to shareholders, while HYGW's dividend yield for the trailing twelve months is around 10.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DISO YieldMax DIS Option Income Strategy ETF | 35.76% | 38.87% | 37.33% | 6.87% | 0.00% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.70% | 12.53% | 12.30% | 15.98% | 8.71% |
Frequently Asked Questions
DISO and HYGW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DISO has higher volatility (3.29%) compared to HYGW (0.69%). In terms of maximum drawdown, DISO dropped -26.62% vs HYGW's -5.49%.
On 1-year performance, HYGW leads with 6.24% vs -10.16% for DISO. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYGW has performed better with a 6.24% return vs -10.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGW is cheaper with a 0.69% expense ratio, compared with 1.01% for DISO.
DISO has the higher dividend yield at 35.76%, compared with 10.70% for HYGW.
DISO is categorized as Derivative Income, while HYGW is High Yield Bonds. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for DISO and 0.69% for HYGW.
HYGW currently has the higher Sharpe Ratio (2.17 vs -0.45), 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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