FEAT vs. ULTY

Last updated Jun 23, 2026

FEAT (YieldMax Dorsey Wright Featured 5 Income ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both Derivative Income funds from YieldMax. FEAT is passively managed, while ULTY is actively managed. Over the past year, FEAT returned -9.24% vs 4.21% for ULTY. A 0.76 correlation means they provide meaningful diversification when combined. FEAT charges 1.28%/yr vs 1.14%/yr for ULTY.

Performance

FEAT vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Dorsey Wright Featured 5 Income ETF (FEAT) and YieldMax Ultra Option Income Strategy ETF (ULTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEAT achieves a -6.78% return, which is significantly lower than ULTY's 11.16% return.

FEAT

• 1D: 0.00%
• 1M: -1.87%
• YTD: -6.78%
• 6M: -9.17%
• 1Y: -9.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ULTY

• 1D: -0.16%
• 1M: 2.32%
• YTD: 11.16%
• 6M: 8.66%
• 1Y: 4.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEAT vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEAT YieldMax Dorsey Wright Featured 5 Income ETF	-6.78%	-4.21%	-9.44%
ULTY YieldMax Ultra Option Income Strategy ETF	11.16%	-0.84%	-5.08%

Correlation

The correlation between FEAT and ULTY is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 17, 2024	0.76

The correlation between FEAT and ULTY has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.

Return for Risk

FEAT vs. ULTY — Risk / Return Rank

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

FEAT

FEAT Risk / Return Rank: 6
FEAT Sharpe Ratio Rank: 6
FEAT Sortino Ratio Rank: 6
FEAT Omega Ratio Rank: 6
FEAT Calmar Ratio Rank: 6
FEAT Martin Ratio Rank: 6

ULTY

ULTY Risk / Return Rank: 10
ULTY Sharpe Ratio Rank: 11
ULTY Sortino Ratio Rank: 10
ULTY Omega Ratio Rank: 10
ULTY Calmar Ratio Rank: 10
ULTY Martin Ratio Rank: 10

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.

FEAT vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Dorsey Wright Featured 5 Income ETF (FEAT) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.

	FEAT	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.32	0.20	-0.52
Sortino ratio: Return per unit of downside risk	-0.25	0.40	-0.65
Omega ratio: Gain probability vs. loss probability	0.97	1.05	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.29	0.18	-0.47
Martin ratio: Return relative to average drawdown	-0.57	0.34	-0.90

FEAT vs. ULTY - Sharpe Ratio Comparison

The current FEAT Sharpe Ratio is -0.32, which is lower than the ULTY Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of FEAT and ULTY, 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

FEAT vs. ULTY - Drawdown Comparison

The maximum FEAT drawdown since its inception was -31.68%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for FEAT and ULTY.

Drawdown Indicators

	FEAT	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-31.68%	-26.85%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-31.68%	-24.16%	-7.52%
Current Drawdown Current decline from peak	-20.04%	-8.86%	-11.18%
Average Drawdown Average peak-to-trough decline	-13.59%	-9.89%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.32%	12.53%	+3.79%

Volatility

FEAT vs. ULTY - Volatility Comparison

YieldMax Dorsey Wright Featured 5 Income ETF (FEAT) and YieldMax Ultra Option Income Strategy ETF (ULTY) have volatilities of 8.05% and 8.25%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEAT	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.05%	8.25%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	20.46%	16.19%	+4.27%
Volatility (1Y) Calculated over the trailing 1-year period	28.84%	21.58%	+7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.41%	27.29%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.41%	27.29%	+3.12%

FEAT vs. ULTY - Expense Ratio Comparison

FEAT has a 1.28% expense ratio, which is higher than ULTY's 1.14% expense ratio.

Dividends

FEAT vs. ULTY - Dividend Comparison

FEAT's dividend yield for the trailing twelve months is around 85.92%, less than ULTY's 110.82% yield.

Position	TTM	2025	2024
FEAT YieldMax Dorsey Wright Featured 5 Income ETF	85.92%	76.35%	0.00%
ULTY YieldMax Ultra Option Income Strategy ETF	110.82%	142.99%	111.70%

Frequently Asked Questions

Can I hold both FEAT and ULTY in my portfolio?

FEAT and ULTY have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEAT or ULTY?

ULTY has higher volatility (8.25%) compared to FEAT (8.05%). In terms of maximum drawdown, FEAT dropped -31.68% vs ULTY's -26.85%.

Which ETF is better, FEAT or ULTY?

On 1-year performance, ULTY leads with 4.21% vs -9.24% for FEAT. On fees, ULTY is cheaper at 1.14% per year. On volatility, FEAT has been the lower-risk option at 8.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEAT or ULTY?

Over the 1-year period, ULTY has performed better with a 4.21% return vs -9.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEAT or ULTY?

ULTY is cheaper with a 1.14% expense ratio, compared with 1.28% for FEAT.

Which ETF pays a higher dividend yield, FEAT or ULTY?

ULTY has the higher dividend yield at 110.82%, compared with 85.92% for FEAT.

What is the main difference between FEAT and ULTY?

Their fees differ too: 1.28% for FEAT and 1.14% for ULTY.

Which has better risk-adjusted returns?

ULTY currently has the higher Sharpe Ratio (0.20 vs -0.32), 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.