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 -1.14% vs 40.10% for FIAT. Their 0.33 correlation means their historical movements had little consistent relationship. 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 -4.88% return, which is significantly lower than FIAT's 19.12% return.
EMTY
- 1D
- 0.18%
- 1M
- -5.42%
- 6M
- 4.00%
- YTD
- -4.88%
- 1Y
- -1.14%
- 3Y*
- -4.45%
- 5Y*
- -3.47%
- 10Y*
- —
- ALL TIME*
- -11.61%
FIAT
- 1D
- 0.81%
- 1M
- 10.89%
- 6M
- -3.04%
- YTD
- 19.12%
- 1Y
- 40.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -18.79%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.12K | $40.50K | $50.28K | |
| $1.01M | $1.13M | $1.54M |
EMTY vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | -4.88% | -1.76% | -5.19% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 19.12% | -24.17% | -28.04% |
Correlation
The correlation between EMTY and FIAT is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024 | 0.33 |
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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.
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.
| EMTY | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.16 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 1.18 | -1.26 |
| Martin ratioReturn relative to average drawdown | -0.18 | 2.42 | -2.60 |
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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 | -13.91% | -34.22% | +20.31% |
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 | -76.26% | -48.66% | -27.60% |
Average DrawdownAverage peak-to-trough decline | -54.68% | -45.70% | -8.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 16.61% | -10.24% |
Volatility
EMTY vs. FIAT - Volatility Comparison
The current volatility for ProShares Decline of the Retail Store ETF (EMTY) is 6.47%, while YieldMax Short COIN Option Income Strategy ETF (FIAT) has a volatility of 15.43%. 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 | 6.47% | 15.43% | -8.96% |
Volatility (6M)Calculated over the trailing 6-month period | 13.86% | 45.04% | -31.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 53.34% | -34.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 59.96% | -37.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 59.96% | -34.37% |
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 3.42%, less than FIAT's 101.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.42% | 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 | 101.94% | 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 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (15.43%) compared to EMTY (6.47%). In terms of maximum drawdown, EMTY dropped -77.62% vs FIAT's -70.50%.
On 1-year performance, FIAT leads with 40.10% vs -1.14% for EMTY. On fees, EMTY is cheaper at 0.66% per year. On volatility, EMTY has been the lower-risk option at 6.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a 40.10% return vs -1.14%. 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 101.94%, compared with 3.42% 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.
FIAT currently has the higher Sharpe Ratio (0.76 vs -0.06), 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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