FBY vs. META

Last updated Jun 23, 2026

FBY (YieldMax META Option Income ETF) is Derivative Income fund actively managed by YieldMax, while META (Meta Platforms, Inc.) is a stock. Over the past year, FBY returned -16.04% vs -19.25% for META. With a 0.96 correlation, they move nearly in lockstep.

Performance

FBY vs. META - Performance Comparison

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

Returns By Period

In the year-to-date period, FBY achieves a -13.45% return, which is significantly higher than META's -14.67% return.

FBY

• 1D: -2.05%
• 1M: -7.09%
• YTD: -13.45%
• 6M: -13.14%
• 1Y: -16.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

META

• 1D: -0.29%
• 1M: -7.79%
• YTD: -14.67%
• 6M: -15.30%
• 1Y: -19.25%
• 3Y*: 25.24%
• 5Y*: 10.57%
• 10Y*: 17.60%

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

FBY vs. META - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FBY YieldMax META Option Income ETF	-13.45%	1.98%	44.42%	17.68%
META Meta Platforms, Inc.	-14.67%	13.09%	66.05%	13.55%

Correlation

The correlation between FBY and META is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
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 0.98 - a consistent structural relationship.

Return for Risk

FBY vs. META — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBY

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

META

META Risk / Return Rank: 19
META Sharpe Ratio Rank: 19
META Sortino Ratio Rank: 19
META Omega Ratio Rank: 19
META Calmar Ratio Rank: 21
META Martin Ratio Rank: 16

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.

FBY vs. META - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax META Option Income 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	-0.54	-0.54	-0.01
Sortino ratio: Return per unit of downside risk	-0.59	-0.58	-0.01
Omega ratio: Gain probability vs. loss probability	0.92	0.93	0.00
Calmar ratio: Return relative to maximum drawdown	-0.55	-0.58	+0.03
Martin ratio: Return relative to average drawdown	-1.12	-1.16	+0.04

FBY vs. META - Sharpe Ratio Comparison

The current FBY Sharpe Ratio is -0.54, which is comparable to the META Sharpe Ratio of -0.54. 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	—	-34.15%	—
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	-25.62%	-28.60%	+2.98%
Average Drawdown Average peak-to-trough decline	-8.07%	-15.84%	+7.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.37%	16.58%	-2.21%

Volatility

FBY vs. META - Volatility Comparison

The current volatility for YieldMax META Option Income ETF (FBY) is 10.26%, while Meta Platforms, Inc. (META) has a volatility of 12.90%. 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	10.26%	12.90%	-2.64%
Volatility (6M) Calculated over the trailing 6-month period	23.35%	27.85%	-4.50%
Volatility (1Y) Calculated over the trailing 1-year period	29.66%	36.18%	-6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.67%	44.18%	-15.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.67%	38.76%	-10.09%

Dividends

FBY vs. META - Dividend Comparison

FBY's dividend yield for the trailing twelve months is around 57.95%, more than META's 0.38% yield.

Position	TTM	2025	2024	2023
FBY YieldMax META Option Income ETF	57.95%	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 0.98, 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 (12.90%) compared to FBY (10.26%). 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 (-0.54 vs -0.54), 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.