DISO vs. PYPY

Last updated Jun 4, 2026

DISO (YieldMax DIS Option Income Strategy ETF) and PYPY (Yieldmax PYPL Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, DISO returned -8.09% vs -39.20% for PYPY. At a 0.39 correlation, their price movements are largely independent. Both charge a 1.01% expense ratio.

Performance

DISO vs. PYPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax DIS Option Income Strategy ETF (DISO) and Yieldmax PYPL Option Income Strategy ETF (PYPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DISO achieves a -10.99% return, which is significantly higher than PYPY's -23.28% return.

DISO

• 1D: -1.72%
• 1M: -1.79%
• YTD: -10.99%
• 6M: -4.80%
• 1Y: -8.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PYPY

• 1D: -3.78%
• 1M: -12.23%
• YTD: -23.28%
• 6M: -25.27%
• 1Y: -39.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DISO vs. PYPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DISO YieldMax DIS Option Income Strategy ETF	-10.99%	2.12%	14.56%	12.42%
PYPY Yieldmax PYPL Option Income Strategy ETF	-23.28%	-30.17%	43.88%	6.09%

Correlation

The correlation between DISO and PYPY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.39

Return for Risk

DISO vs. PYPY — Risk / Return Rank

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

DISO

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

PYPY

PYPY Risk / Return Rank: 1
PYPY Sharpe Ratio Rank: 1
PYPY Sortino Ratio Rank: 1
PYPY Omega Ratio Rank: 1
PYPY Calmar Ratio Rank: 2
PYPY Martin Ratio Rank: 1

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.

DISO vs. PYPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DIS Option Income Strategy ETF (DISO) and Yieldmax PYPL Option Income Strategy ETF (PYPY). 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.

	DISO	PYPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.40	-1.15	+0.75
Sortino ratio: Return per unit of downside risk	-0.44	-1.50	+1.06
Omega ratio: Gain probability vs. loss probability	0.95	0.78	+0.17
Calmar ratio: Return relative to maximum drawdown	-0.45	-0.83	+0.38
Martin ratio: Return relative to average drawdown	-1.02	-1.48	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DISO vs. PYPY - Sharpe Ratio Comparison

The current DISO Sharpe Ratio is -0.40, which is higher than the PYPY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of DISO and PYPY, 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

	DISO	PYPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.40	-1.15	+0.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	-0.23	+0.45

Drawdowns

DISO vs. PYPY - Drawdown Comparison

The maximum DISO drawdown since its inception was -26.62%, smaller than the maximum PYPY drawdown of -53.64%. Use the drawdown chart below to compare losses from any high point for DISO and PYPY.

Drawdown Indicators

	DISO	PYPY	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-53.64%	+27.02%
Max Drawdown (1Y) Largest decline over 1 year	-18.08%	-47.14%	+29.06%
Current Drawdown Current decline from peak	-13.46%	-49.18%	+35.72%
Average Drawdown Average peak-to-trough decline	-7.67%	-16.16%	+8.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.92%	26.44%	-18.52%

Volatility

DISO vs. PYPY - Volatility Comparison

YieldMax DIS Option Income Strategy ETF (DISO) has a higher volatility of 9.07% compared to Yieldmax PYPL Option Income Strategy ETF (PYPY) at 7.83%. This indicates that DISO's price experiences larger fluctuations and is considered to be riskier than PYPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DISO	PYPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	7.83%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	16.10%	28.63%	-12.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.24%	34.15%	-13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.53%	31.10%	-9.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	31.10%	-9.57%

DISO vs. PYPY - Expense Ratio Comparison

Both DISO and PYPY have an expense ratio of 1.01%.

Dividends

DISO vs. PYPY - Dividend Comparison

DISO's dividend yield for the trailing twelve months is around 44.73%, less than PYPY's 69.43% yield.

Position	TTM	2025	2024	2023
DISO YieldMax DIS Option Income Strategy ETF	44.73%	38.87%	37.33%	6.87%
PYPY Yieldmax PYPL Option Income Strategy ETF	69.43%	64.68%	48.65%	5.70%

Frequently Asked Questions

Can I hold both DISO and PYPY in my portfolio?

DISO and PYPY 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 is riskier, DISO or PYPY?

DISO has higher volatility (9.07%) compared to PYPY (7.83%). In terms of maximum drawdown, DISO dropped -26.62% vs PYPY's -53.64%.

Which ETF is better, DISO or PYPY?

On 1-year performance, DISO leads with -8.09% vs -39.20% for PYPY. Both ETFs have the same 1.01% expense ratio. On volatility, PYPY has been the lower-risk option at 7.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DISO or PYPY?

Over the 1-year period, DISO has performed better with a -8.09% return vs -39.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DISO or PYPY?

DISO and PYPY have the same expense ratio: 1.01% per year.

Which ETF pays a higher dividend yield, DISO or PYPY?

PYPY has the higher dividend yield at 69.43%, compared with 44.73% for DISO.

Which has better risk-adjusted returns?

DISO currently has the higher Sharpe Ratio (-0.40 vs -1.15), 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.