DRAY vs. ACII

Last updated Jun 5, 2026

DRAY (YieldMax DKNG Option Income Strategy ETF) and ACII (Innovator Index Autocallable Income Strategy ETF) are both Derivative Income funds. Both are actively managed. A 0.50 correlation means they provide meaningful diversification when combined. DRAY charges 0.99%/yr vs 0.79%/yr for ACII.

Performance

DRAY vs. ACII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax DKNG Option Income Strategy ETF (DRAY) and Innovator Index Autocallable Income Strategy ETF (ACII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DRAY

• 1D: 0.59%
• 1M: 3.07%
• YTD: -28.25%
• 6M: -29.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ACII

• 1D: 0.47%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRAY vs. ACII - Yearly Performance Comparison

	2026 (YTD)
DRAY YieldMax DKNG Option Income Strategy ETF	3.28%
ACII Innovator Index Autocallable Income Strategy ETF	-0.63%

Correlation

The correlation between DRAY and ACII is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

DRAY vs. ACII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DKNG Option Income Strategy ETF (DRAY) and Innovator Index Autocallable Income Strategy ETF (ACII). 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.

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

Sharpe Ratios by Period

	DRAY	ACII	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	-1.13	-3.57	+2.44

Drawdowns

DRAY vs. ACII - Drawdown Comparison

The maximum DRAY drawdown since its inception was -57.87%, which is greater than ACII's maximum drawdown of -1.27%. Use the drawdown chart below to compare losses from any high point for DRAY and ACII.

Drawdown Indicators

	DRAY	ACII	Difference
Max Drawdown Largest peak-to-trough decline	-57.87%	-1.27%	-56.60%
Current Drawdown Current decline from peak	-47.92%	-0.80%	-47.12%
Average Drawdown Average peak-to-trough decline	-31.42%	-0.50%	-30.92%

Volatility

Volatility by Period

	DRAY	ACII	Difference
Volatility (1Y) Calculated over the trailing 1-year period	40.72%	8.49%	+32.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.72%	8.49%	+32.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.72%	8.49%	+32.23%

DRAY vs. ACII - Expense Ratio Comparison

DRAY has a 0.99% expense ratio, which is higher than ACII's 0.79% expense ratio.

Dividends

DRAY vs. ACII - Dividend Comparison

DRAY's dividend yield for the trailing twelve months is around 89.20%, more than ACII's 0.73% yield.

Position	TTM	2025
ACII Innovator Index Autocallable Income Strategy ETF	0.73%	0.00%
DRAY YieldMax DKNG Option Income Strategy ETF	89.20%	32.48%

Frequently Asked Questions

Can I hold both DRAY and ACII in my portfolio?

DRAY and ACII have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DRAY or ACII?

On fees, ACII is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRAY or ACII?

ACII is cheaper with a 0.79% expense ratio, compared with 0.99% for DRAY.

Which ETF pays a higher dividend yield, DRAY or ACII?

DRAY has the higher dividend yield at 89.20%, compared with 0.73% for ACII.

What is the main difference between DRAY and ACII?

They also come from different issuers: YieldMax and Innovator. Their fees differ too: 0.99% for DRAY and 0.79% for ACII.