FBY vs. META

Last updated Aug 2, 2026

FBY (YieldMax META Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while META (Meta Platforms, Inc.) is a stock. Over the past 3 years, FBY returned 12.92%/yr vs 20.28%/yr for META. Their 0.96 correlation means they have historically moved very closely together.

Performance

FBY vs. META - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FBY having a -15.55% return and META slightly higher at -15.51%.

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%

META

• 1D: 3.28%
• 1M: -4.49%
• 6M: -22.16%
• YTD: -15.51%
• 1Y: -25.53%
• 3Y*: 20.28%
• 5Y*: 9.53%
• 10Y*: 16.39%
• ALL TIME*: 20.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBY YieldMax META Option Income Strategy ETF	$1.42M	$1.53M	$1.62M
META Meta Platforms, Inc.	$9.87B	$11.79B	$10.93B

FBY vs. META - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FBY YieldMax META Option Income Strategy ETF	-15.55%	1.98%	44.42%	17.68%
META Meta Platforms, Inc.	-15.51%	13.09%	66.05%	13.55%

Correlation

The correlation between FBY and META is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Jul 28, 2023	0.96

The correlation between FBY and META has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

FBY vs. META — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FBY

FBY Risk / Return Rank: 2
FBY Sharpe Ratio Rank: 3
FBY Sortino Ratio Rank: 3
FBY Omega Ratio Rank: 3
FBY Calmar Ratio Rank: 2
FBY Martin Ratio Rank: 0

META

META Risk / Return Rank: 11
META Sharpe Ratio Rank: 12
META Sortino Ratio Rank: 14
META Omega Ratio Rank: 14
META Calmar Ratio Rank: 11
META Martin Ratio Rank: 5

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FBY vs. META - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax META Option Income Strategy ETF (FBY) and Meta Platforms, Inc. (META). 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	META	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	-0.73	-0.08
Sortino ratio: Return per unit of downside risk	-1.03	-0.91	-0.12
Omega ratio: Gain probability vs. loss probability	0.87	0.89	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.88	-0.84	-0.04
Martin ratio: Return relative to average drawdown	-1.61	-1.52	-0.09

FBY vs. META - Sharpe Ratio Comparison

The current FBY Sharpe Ratio is -0.81, which is comparable to the META Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of FBY and META, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FBY vs. META - Drawdown Comparison

The maximum FBY drawdown since its inception was -31.53%, smaller than the maximum META drawdown of -76.74%. Use the drawdown chart below to compare losses from any high point for FBY and META.

Drawdown Indicators

	FBY	META	Difference
Max Drawdown Largest peak-to-trough decline	-31.53%	-76.74%	+45.21%
Max Drawdown (1Y) Largest decline over 1 year	-29.50%	-33.30%	+3.80%
Max Drawdown (3Y) Largest decline over 3 years	-31.53%	-34.15%	+2.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-76.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-76.74%	—
Current Drawdown Current decline from peak	-27.42%	-29.30%	+1.88%
Average Drawdown Average peak-to-trough decline	-8.56%	-15.90%	+7.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.09%	18.25%	-2.16%

Volatility

FBY vs. META - Volatility Comparison

The current volatility for YieldMax META Option Income Strategy ETF (FBY) is 13.27%, while Meta Platforms, Inc. (META) has a volatility of 15.37%. This indicates that FBY experiences smaller price fluctuations and is considered to be less risky than META based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBY	META	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.27%	15.37%	-2.10%
Volatility (6M) Calculated over the trailing 6-month period	25.65%	30.29%	-4.64%
Volatility (1Y) Calculated over the trailing 1-year period	32.93%	39.78%	-6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.49%	44.68%	-15.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.49%	39.10%	-9.61%

Dividends

FBY vs. META - Dividend Comparison

FBY's dividend yield for the trailing twelve months is around 62.78%, more than META's 0.38% yield.

Position	TTM	2025	2024	2023
FBY YieldMax META Option Income Strategy ETF	62.78%	55.43%	53.89%	8.31%
META Meta Platforms, Inc.	0.38%	0.32%	0.34%	0.00%

Frequently Asked Questions

Can I hold both FBY and META in my portfolio?

With a correlation of 0.99, FBY and META 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.

Which is riskier, FBY or META?

META has higher volatility (15.37%) compared to FBY (13.27%). In terms of maximum drawdown, FBY dropped -31.53% vs META's -76.74%.

Which has better risk-adjusted returns?

META currently has the higher Sharpe Ratio (-0.73 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.