FBY vs. TSMY
FBY (YieldMax META Option Income ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, FBY returned -17.63% vs 82.45% for TSMY. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
FBY vs. TSMY - Performance Comparison
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Returns By Period
In the year-to-date period, FBY achieves a -13.50% return, which is significantly lower than TSMY's 35.90% return.
FBY
- 1D
- -0.06%
- 1M
- -7.14%
- YTD
- -13.50%
- 6M
- -13.67%
- 1Y
- -17.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSMY
- 1D
- -5.90%
- 1M
- 5.93%
- YTD
- 35.90%
- 6M
- 38.06%
- 1Y
- 82.45%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FBY vs. TSMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FBY YieldMax META Option Income ETF | -13.50% | 1.98% | 15.48% |
TSMY YieldMax TSM Option Income Strategy ETF | 35.90% | 41.00% | 8.05% |
Correlation
The correlation between FBY and TSMY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024 | 0.42 |
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Return for Risk
FBY vs. TSMY — Risk / Return Rank
FBY
TSMY
FBY vs. TSMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax META Option Income ETF (FBY) and YieldMax TSM Option Income Strategy ETF (TSMY). 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 | TSMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.26 | ||
| Sortino ratioReturn per unit of downside risk | -3.91 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.43 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 5.35 | -5.95 |
| Martin ratioReturn relative to average drawdown | -1.22 | 19.38 | -20.61 |
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Drawdowns
FBY vs. TSMY - Drawdown Comparison
The maximum FBY drawdown since its inception was -31.53%, roughly equal to the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for FBY and TSMY.
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Drawdown Indicators
| FBY | TSMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.53% | -31.15% | -0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -29.50% | -15.50% | -14.00% |
Current DrawdownCurrent decline from peak | -25.66% | -5.90% | -19.76% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -5.44% | -2.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.46% | 4.27% | +10.19% |
Volatility
FBY vs. TSMY - Volatility Comparison
The current volatility for YieldMax META Option Income ETF (FBY) is 10.24%, while YieldMax TSM Option Income Strategy ETF (TSMY) has a volatility of 13.61%. This indicates that FBY experiences smaller price fluctuations and is considered to be less risky than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBY | TSMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.24% | 13.61% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 23.30% | 25.03% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.60% | 31.14% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.65% | 33.94% | -5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.65% | 33.94% | -5.29% |
FBY vs. TSMY - Expense Ratio Comparison
Both FBY and TSMY have an expense ratio of 0.99%.
Dividends
FBY vs. TSMY - Dividend Comparison
FBY's dividend yield for the trailing twelve months is around 57.98%, more than TSMY's 51.03% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBY YieldMax META Option Income ETF | 57.98% | 55.43% | 53.89% | 8.31% |
TSMY YieldMax TSM Option Income Strategy ETF | 51.03% | 56.76% | 13.71% | 0.00% |
Frequently Asked Questions
FBY and TSMY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSMY has higher volatility (13.61%) compared to FBY (10.24%). In terms of maximum drawdown, FBY dropped -31.53% vs TSMY's -31.15%.
On 1-year performance, TSMY leads with 82.45% vs -17.63% for FBY. Both ETFs have the same 0.99% expense ratio. 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.
Over the 1-year period, TSMY has performed better with a 82.45% return vs -17.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBY and TSMY have the same expense ratio: 0.99% per year.
FBY has the higher dividend yield at 57.98%, compared with 51.03% for TSMY.
TSMY currently has the higher Sharpe Ratio (2.66 vs -0.60), 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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