FIAT vs. COIN
FIAT (YieldMax Short COIN Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while COIN (Coinbase Global, Inc.) is a stock. Over the past year, FIAT returned 46.24% vs -53.52% for COIN. Their -0.97 correlation means they have often moved in opposite directions in the past.
Performance
FIAT vs. COIN - Performance Comparison
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Returns By Period
In the year-to-date period, FIAT achieves a 20.02% return, which is significantly higher than COIN's -35.32% return.
FIAT
- 1D
- 7.62%
- 1M
- 9.92%
- 6M
- 8.11%
- YTD
- 20.02%
- 1Y
- 46.24%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -18.60%
COIN
- 1D
- -10.59%
- 1M
- -11.61%
- 6M
- -24.89%
- YTD
- -35.32%
- 1Y
- -53.52%
- 3Y*
- 15.82%
- 5Y*
- -9.17%
- 10Y*
- —
- ALL TIME*
- -16.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.37B | $1.19B | $1.50B | |
| $1.23M | $1.24M | $1.59M |
FIAT vs. COIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 20.02% | -24.17% | -28.04% |
COIN Coinbase Global, Inc. | -35.32% | -8.92% | 12.88% |
Correlation
The correlation between FIAT and COIN is -0.99, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024 | -0.97 |
The correlation between FIAT and COIN has been stable across timeframes, ranging from -0.99 to -0.97 - a consistent structural relationship.
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Return for Risk
FIAT vs. COIN — Risk / Return Rank
FIAT
COIN
FIAT vs. COIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and Coinbase Global, Inc. (COIN). 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.
| FIAT | COIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.04 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 0.84 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.80 | -0.97 | +2.77 |
| Martin ratioReturn relative to average drawdown | 3.72 | -1.45 | +5.17 |
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Drawdowns
FIAT vs. COIN - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, smaller than the maximum COIN drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for FIAT and COIN.
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Drawdown Indicators
| FIAT | COIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -91.46% | +20.96% |
Max Drawdown (1Y)Largest decline over 1 year | -34.22% | -63.57% | +29.35% |
Max Drawdown (3Y)Largest decline over 3 years | — | -66.39% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -90.90% | — |
Current DrawdownCurrent decline from peak | -48.27% | -65.16% | +16.89% |
Average DrawdownAverage peak-to-trough decline | -45.69% | -52.82% | +7.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.53% | 42.68% | -26.15% |
Volatility
FIAT vs. COIN - Volatility Comparison
The current volatility for YieldMax Short COIN Option Income Strategy ETF (FIAT) is 16.11%, while Coinbase Global, Inc. (COIN) has a volatility of 20.29%. This indicates that FIAT experiences smaller price fluctuations and is considered to be less risky than COIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAT | COIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.11% | 20.29% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 45.18% | 54.91% | -9.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.24% | 69.65% | -15.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.12% | 86.15% | -26.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.12% | 85.12% | -25.00% |
Dividends
FIAT vs. COIN - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 101.18%, while COIN has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COIN Coinbase Global, Inc. | 0.00% | 0.00% | 0.00% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 101.18% | 178.11% | 70.99% |
Frequently Asked Questions
FIAT and COIN have a correlation of -0.99, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COIN has higher volatility (20.29%) compared to FIAT (16.11%). In terms of maximum drawdown, FIAT dropped -70.50% vs COIN's -91.46%.
FIAT currently has the higher Sharpe Ratio (1.14 vs -0.88), 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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