FBY vs. METW

Last updated Jun 24, 2026

FBY (YieldMax META Option Income ETF) and METW (Roundhill Meta Weeklypay ETF) are both exchange-traded funds - FBY is a Derivative Income fund actively managed by YieldMax, while METW is a Technology Equities fund tracking the Ball Metaverse Index. FBY is actively managed, while METW is passively managed. Over the past year, FBY returned -17.63% vs -26.35% for METW. With a 0.98 correlation, they move nearly in lockstep. FBY charges 0.99%/yr vs 0.59%/yr for METW.

Performance

FBY vs. METW - Performance Comparison

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

Returns By Period

In the year-to-date period, FBY achieves a -13.50% return, which is significantly higher than METW's -19.43% return.

FBY

• 1D: -0.06%
• 1M: -7.14%
• YTD: -13.50%
• 6M: -13.67%
• 1Y: -17.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

METW

• 1D: -0.28%
• 1M: -9.52%
• YTD: -19.43%
• 6M: -20.16%
• 1Y: -26.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBY vs. METW - Yearly Performance Comparison

	2026 (YTD)	2025
FBY YieldMax META Option Income ETF	-13.50%	-4.44%
METW Roundhill Meta Weeklypay ETF	-19.43%	-9.14%

Correlation

The correlation between FBY and METW 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 Jun 18, 2025	0.98

The correlation between FBY and METW has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

FBY vs. METW — 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: 4
FBY Omega Ratio Rank: 4
FBY Calmar Ratio Rank: 4
FBY Martin Ratio Rank: 3

METW

METW Risk / Return Rank: 4
METW Sharpe Ratio Rank: 4
METW Sortino Ratio Rank: 4
METW Omega Ratio Rank: 4
METW Calmar Ratio Rank: 4
METW Martin Ratio Rank: 3

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. METW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax META Option Income ETF (FBY) and Roundhill Meta Weeklypay ETF (METW). 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	METW	Difference
Sharpe ratio: Return per unit of total volatility	-0.60	-0.61	+0.01
Sortino ratio: Return per unit of downside risk	-0.68	-0.69	+0.01
Omega ratio: Gain probability vs. loss probability	0.91	0.91	0.00
Calmar ratio: Return relative to maximum drawdown	-0.60	-0.65	+0.05
Martin ratio: Return relative to average drawdown	-1.22	-1.25	+0.03

FBY vs. METW - Sharpe Ratio Comparison

The current FBY Sharpe Ratio is -0.60, which is comparable to the METW Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of FBY and METW, 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. METW - Drawdown Comparison

The maximum FBY drawdown since its inception was -31.53%, smaller than the maximum METW drawdown of -40.52%. Use the drawdown chart below to compare losses from any high point for FBY and METW.

Drawdown Indicators

	FBY	METW	Difference
Max Drawdown Largest peak-to-trough decline	-31.53%	-40.52%	+8.99%
Max Drawdown (1Y) Largest decline over 1 year	-29.50%	-40.52%	+11.02%
Current Drawdown Current decline from peak	-25.66%	-36.08%	+10.42%
Average Drawdown Average peak-to-trough decline	-8.09%	-18.08%	+9.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.46%	21.11%	-6.65%

Volatility

FBY vs. METW - Volatility Comparison

The current volatility for YieldMax META Option Income ETF (FBY) is 10.24%, while Roundhill Meta Weeklypay ETF (METW) has a volatility of 15.67%. This indicates that FBY experiences smaller price fluctuations and is considered to be less risky than METW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBY	METW	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.24%	15.67%	-5.43%
Volatility (6M) Calculated over the trailing 6-month period	23.30%	33.51%	-10.21%
Volatility (1Y) Calculated over the trailing 1-year period	29.60%	43.19%	-13.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.65%	43.09%	-14.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.65%	43.09%	-14.44%

FBY vs. METW - Expense Ratio Comparison

FBY has a 0.99% expense ratio, which is higher than METW's 0.59% expense ratio.

Dividends

FBY vs. METW - Dividend Comparison

FBY's dividend yield for the trailing twelve months is around 57.98%, less than METW's 66.02% yield.

Position	TTM	2025	2024	2023
FBY YieldMax META Option Income ETF	57.98%	55.43%	53.89%	8.31%
METW Roundhill Meta Weeklypay ETF	66.02%	30.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBY and METW in my portfolio?

With a correlation of 0.98, FBY and METW 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 METW?

METW has higher volatility (15.67%) compared to FBY (10.24%). In terms of maximum drawdown, FBY dropped -31.53% vs METW's -40.52%.

Which ETF is better, FBY or METW?

On 1-year performance, FBY leads with -17.63% vs -26.35% for METW. On fees, METW is cheaper at 0.59% per year. On volatility, FBY has been the lower-risk option at 10.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBY or METW?

Over the 1-year period, FBY has performed better with a -17.63% return vs -26.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBY or METW?

METW is cheaper with a 0.59% expense ratio, compared with 0.99% for FBY.

Which ETF pays a higher dividend yield, FBY or METW?

METW has the higher dividend yield at 66.02%, compared with 57.98% for FBY.

What is the main difference between FBY and METW?

FBY is categorized as Derivative Income, while METW is Technology Equities. They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 0.99% for FBY and 0.59% for METW.

Which has better risk-adjusted returns?

FBY currently has the higher Sharpe Ratio (-0.60 vs -0.61), 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.