DRAY vs. PLTY

Last updated Jun 25, 2026

DRAY (YieldMax DKNG Option Income Strategy ETF) and PLTY (YieldMax PLTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

DRAY vs. PLTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax DKNG Option Income Strategy ETF (DRAY) and YieldMax PLTR Option Income Strategy ETF (PLTY). 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 PLTY's -32.39% return.

DRAY

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

PLTY

• 1D: -4.93%
• 1M: -18.35%
• YTD: -32.39%
• 6M: -37.77%
• 1Y: -22.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRAY vs. PLTY - Yearly Performance Comparison

	2026 (YTD)	2025
DRAY YieldMax DKNG Option Income Strategy ETF	-30.74%	-19.48%
PLTY YieldMax PLTR Option Income Strategy ETF	-32.39%	11.28%

Correlation

The correlation between DRAY and PLTY is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.13

Return for Risk

DRAY vs. PLTY — 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.

PLTY

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

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. PLTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax DKNG Option Income Strategy ETF (DRAY) and YieldMax PLTR Option Income Strategy ETF (PLTY). 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	PLTY	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.52	—
Sortino ratio: Return per unit of downside risk	—	-0.48	—
Omega ratio: Gain probability vs. loss probability	—	0.94	—
Calmar ratio: Return relative to maximum drawdown	—	-0.54	—
Martin ratio: Return relative to average drawdown	—	-1.16	—

Drawdowns

DRAY vs. PLTY - Drawdown Comparison

The maximum DRAY drawdown since its inception was -57.87%, which is greater than PLTY's maximum drawdown of -41.36%. Use the drawdown chart below to compare losses from any high point for DRAY and PLTY.

Drawdown Indicators

	DRAY	PLTY	Difference
Max Drawdown Largest peak-to-trough decline	-57.87%	-41.36%	-16.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.36%	—
Current Drawdown Current decline from peak	-49.73%	-41.36%	-8.37%
Average Drawdown Average peak-to-trough decline	-32.06%	-13.39%	-18.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	19.33%	—

Volatility

Volatility by Period

	DRAY	PLTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	32.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	41.82%	43.63%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.82%	52.74%	-10.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.82%	52.74%	-10.92%

DRAY vs. PLTY - Expense Ratio Comparison

Both DRAY and PLTY have an expense ratio of 0.99%.

Dividends

DRAY vs. PLTY - Dividend Comparison

DRAY's dividend yield for the trailing twelve months is around 98.00%, less than PLTY's 137.75% yield.

Position	TTM	2025	2024
DRAY YieldMax DKNG Option Income Strategy ETF	98.00%	32.48%	0.00%
PLTY YieldMax PLTR Option Income Strategy ETF	137.75%	112.44%	7.85%

Frequently Asked Questions

Can I hold both DRAY and PLTY in my portfolio?

DRAY and PLTY have a correlation of 0.13, 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 PLTY?

Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRAY or PLTY?

DRAY and PLTY have the same expense ratio: 0.99% per year.

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

PLTY has the higher dividend yield at 137.75%, compared with 98.00% for DRAY.