FBY vs. IVVW
FBY (YieldMax META Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. FBY is actively managed, while IVVW is passively managed. Over the past year, FBY returned -24.10% vs 18.56% for IVVW. Their 0.52 correlation means they have sometimes moved together and sometimes differently. FBY charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
FBY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, FBY achieves a -15.55% return, which is significantly lower than IVVW's 7.09% return.
FBY
- 1D
- 2.07%
- 1M
- -4.56%
- 6M
- -21.00%
- YTD
- -15.55%
- 1Y
- -24.10%
- 3Y*
- 12.92%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.50%
IVVW
- 1D
- 0.65%
- 1M
- 1.31%
- 6M
- 6.25%
- YTD
- 7.09%
- 1Y
- 18.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.42M | $1.53M | $1.62M | |
| $1.59M | $1.91M | $2.60M |
FBY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBY YieldMax META Option Income Strategy ETF | -15.55% | 1.98% | 19.03% |
IVVW iShares S&P 500 BuyWrite ETF | 7.09% | 11.71% | 12.76% |
Correlation
The correlation between FBY and IVVW is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024 | 0.52 |
The correlation between FBY and IVVW has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.
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Return for Risk
FBY vs. IVVW — Risk / Return Rank
FBY
IVVW
FBY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax META Option Income Strategy ETF (FBY) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| FBY | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.87 | ||
| Sortino ratioReturn per unit of downside risk | -3.86 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.43 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.88 | 3.02 | -3.90 |
| Martin ratioReturn relative to average drawdown | -1.61 | 15.69 | -17.30 |
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Drawdowns
FBY vs. IVVW - Drawdown Comparison
The maximum FBY drawdown since its inception was -31.53%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for FBY and IVVW.
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Drawdown Indicators
| FBY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.53% | -16.79% | -14.74% |
Max Drawdown (1Y)Largest decline over 1 year | -29.50% | -5.81% | -23.69% |
Max Drawdown (3Y)Largest decline over 3 years | -31.53% | — | — |
Current DrawdownCurrent decline from peak | -27.42% | -0.11% | -27.31% |
Average DrawdownAverage peak-to-trough decline | -8.56% | -1.68% | -6.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.09% | 1.12% | +14.97% |
Volatility
FBY vs. IVVW - Volatility Comparison
YieldMax META Option Income Strategy ETF (FBY) has a higher volatility of 13.27% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 2.90%. This indicates that FBY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.27% | 2.90% | +10.37% |
Volatility (6M)Calculated over the trailing 6-month period | 25.65% | 7.28% | +18.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.93% | 8.56% | +24.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.49% | 12.56% | +16.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.49% | 12.56% | +16.93% |
FBY vs. IVVW - Expense Ratio Comparison
FBY has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
FBY vs. IVVW - Dividend Comparison
FBY's dividend yield for the trailing twelve months is around 62.78%, more than IVVW's 19.01% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBY YieldMax META Option Income Strategy ETF | 62.78% | 55.43% | 53.89% | 8.31% |
IVVW iShares S&P 500 BuyWrite ETF | 19.01% | 18.55% | 13.72% | 0.00% |
Frequently Asked Questions
FBY and IVVW have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBY has higher volatility (13.27%) compared to IVVW (2.90%). In terms of maximum drawdown, FBY dropped -31.53% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 18.56% vs -24.10% for FBY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 2.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 18.56% return vs -24.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for FBY.
FBY has the higher dividend yield at 62.78%, compared with 19.01% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for FBY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.05 vs -0.81), 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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