DRAY vs. DKNG

Last updated Jun 25, 2026

DRAY (YieldMax DKNG Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while DKNG (DraftKings Inc.) is a stock. Their correlation of 0.93 suggests significant overlap in exposure.

Performance

DRAY vs. DKNG - Performance Comparison

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

Returns By Period

In the year-to-date period, DRAY achieves a -30.74% return, which is significantly higher than DKNG's -32.97% return.

DRAY

• 1D: -1.87%
• 1M: -2.57%
• YTD: -30.74%
• 6M: -30.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DKNG

• 1D: -5.83%
• 1M: -2.98%
• YTD: -32.97%
• 6M: -32.97%
• 1Y: -45.95%
• 3Y*: -2.83%
• 5Y*: -14.87%
• 10Y*: —

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

DRAY vs. DKNG - Yearly Performance Comparison

	2026 (YTD)	2025
DRAY YieldMax DKNG Option Income Strategy ETF	-30.74%	-19.48%
DKNG DraftKings Inc.	-32.97%	-21.31%

Correlation

The correlation between DRAY and DKNG is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.93

Return for Risk

DRAY vs. DKNG — Risk / Return Rank

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

DRAY

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

DKNG

DKNG Risk / Return Rank: 10
DKNG Sharpe Ratio Rank: 6
DKNG Sortino Ratio Rank: 8
DKNG Omega Ratio Rank: 9
DKNG Calmar Ratio Rank: 12
DKNG Martin Ratio Rank: 14

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.

DRAY vs. DKNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DKNG Option Income Strategy ETF (DRAY) and DraftKings Inc. (DKNG). 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.

	DRAY	DKNG	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.95	—
Sortino ratio: Return per unit of downside risk	—	-1.32	—
Omega ratio: Gain probability vs. loss probability	—	0.83	—
Calmar ratio: Return relative to maximum drawdown	—	-0.81	—
Martin ratio: Return relative to average drawdown	—	-1.26	—

Drawdowns

DRAY vs. DKNG - Drawdown Comparison

The maximum DRAY drawdown since its inception was -57.87%, smaller than the maximum DKNG drawdown of -85.73%. Use the drawdown chart below to compare losses from any high point for DRAY and DKNG.

Drawdown Indicators

	DRAY	DKNG	Difference
Max Drawdown Largest peak-to-trough decline	-57.87%	-85.73%	+27.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-57.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-61.26%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-83.87%	—
Current Drawdown Current decline from peak	-49.73%	-67.91%	+18.18%
Average Drawdown Average peak-to-trough decline	-32.06%	-49.03%	+16.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	36.37%	—

Volatility

Volatility by Period

	DRAY	DKNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	20.16%	—
Volatility (6M) Calculated over the trailing 6-month period	—	38.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.82%	48.58%	-6.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.82%	61.44%	-19.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.82%	63.33%	-21.51%

Dividends

DRAY vs. DKNG - Dividend Comparison

DRAY's dividend yield for the trailing twelve months is around 98.00%, while DKNG has not paid dividends to shareholders.

Position	TTM	2025
DKNG DraftKings Inc.	0.00%	0.00%
DRAY YieldMax DKNG Option Income Strategy ETF	98.00%	32.48%

Frequently Asked Questions

Can I hold both DRAY and DKNG in my portfolio?

With a correlation of 0.93, DRAY and DKNG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.