EMTY vs. FIAT
EMTY (ProShares Decline of the Retail Store ETF) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while FIAT is a Derivative Income fund actively managed by YieldMax. EMTY is passively managed, while FIAT is actively managed. Over the past year, EMTY returned 1.60% vs -0.18% for FIAT. At a 0.36 correlation, their price movements are largely independent. EMTY charges 0.66%/yr vs 0.99%/yr for FIAT.
Performance
EMTY vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a 1.09% return, which is significantly lower than FIAT's 13.84% return.
EMTY
- 1D
- -0.32%
- 1M
- 1.81%
- YTD
- 1.09%
- 6M
- 3.80%
- 1Y
- 1.60%
- 3Y*
- -4.69%
- 5Y*
- -2.87%
- 10Y*
- —
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMTY vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 1.09% | -1.76% | -4.75% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
Correlation
The correlation between EMTY and FIAT is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | 0.36 |
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Return for Risk
EMTY vs. FIAT — Risk / Return Rank
EMTY
FIAT
EMTY vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| EMTY | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.05 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | -0.00 | +0.12 |
| Martin ratioReturn relative to average drawdown | 0.20 | -0.01 | +0.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMTY | FIAT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.09 | -0.00 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | -0.37 | -0.06 |
Drawdowns
EMTY vs. FIAT - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, which is greater than FIAT's maximum drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for EMTY and FIAT.
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Drawdown Indicators
| EMTY | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -70.50% | -7.12% |
Max Drawdown (1Y)Largest decline over 1 year | -14.00% | -42.26% | +28.26% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | — | — |
Current DrawdownCurrent decline from peak | -74.77% | -50.94% | -23.83% |
Average DrawdownAverage peak-to-trough decline | -54.01% | -45.35% | -8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 27.32% | -19.21% |
Volatility
EMTY vs. FIAT - Volatility Comparison
The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.00%, while YieldMax Short COIN Option Income Strategy ETF (FIAT) has a volatility of 15.34%. This indicates that EMTY experiences smaller price fluctuations and is considered to be less risky than FIAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMTY | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 15.34% | -9.34% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 42.03% | -29.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 55.49% | -37.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 60.56% | -38.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.67% | 60.56% | -34.89% |
EMTY vs. FIAT - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than FIAT's 0.99% expense ratio.
Dividends
EMTY vs. FIAT - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.45%, less than FIAT's 93.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.45% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMTY and FIAT have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (15.34%) compared to EMTY (6.00%). In terms of maximum drawdown, EMTY dropped -77.62% vs FIAT's -70.50%.
On 1-year performance, EMTY leads with 1.60% vs -0.18% for FIAT. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMTY has performed better with a 1.60% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 93.28%, compared with 3.45% for EMTY.
EMTY is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.66% for EMTY and 0.99% for FIAT.
EMTY currently has the higher Sharpe Ratio (0.09 vs -0.00), 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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