FIAT vs. COIW

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax Short COIN Option Income Strategy ETF (FIAT) and COIN WeeklyPay™ ETF (COIW).

FIAT and COIW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FIAT is an actively managed fund by YieldMax. It was launched on Jul 9, 2024. COIW is an actively managed fund by Roundhill. It was launched on Feb 18, 2025.

Performance

FIAT vs. COIW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short COIN Option Income Strategy ETF (FIAT) and COIN WeeklyPay™ ETF (COIW). The values are adjusted to include any dividend payments, if applicable.

FIAT vs. COIW - Yearly Performance Comparison

	2026 (YTD)	2025
FIAT YieldMax Short COIN Option Income Strategy ETF	13.45%	-21.54%
COIW COIN WeeklyPay™ ETF	-28.55%	-23.77%

Returns By Period

In the year-to-date period, FIAT achieves a 13.45% return, which is significantly higher than COIW's -28.55% return.

FIAT

• 1D: 0.96%
• 1M: 1.55%
• YTD: 13.45%
• 6M: 49.80%
• 1Y: -32.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COIW

• 1D: -0.98%
• 1M: -8.42%
• YTD: -28.55%
• 6M: -58.34%
• 1Y: -11.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIAT vs. COIW - Expense Ratio Comparison

Both FIAT and COIW have an expense ratio of 0.99%.

FIAT

YieldMax Short COIN Option Income Strategy ETF

COIW

COIN WeeklyPay™ ETF

Return for Risk

FIAT vs. COIW — Risk / Return Rank

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

FIAT

FIAT Risk / Return Rank: 5
FIAT Sharpe Ratio Rank: 3
FIAT Sortino Ratio Rank: 5
FIAT Omega Ratio Rank: 4
FIAT Calmar Ratio Rank: 4
FIAT Martin Ratio Rank: 7

COIW

COIW Risk / Return Rank: 13
COIW Sharpe Ratio Rank: 9
COIW Sortino Ratio Rank: 18
COIW Omega Ratio Rank: 17
COIW Calmar Ratio Rank: 10
COIW 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.

FIAT vs. COIW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and COIN WeeklyPay™ ETF (COIW). 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.

	FIAT	COIW	Difference
Sharpe ratio Return per unit of total volatility	-0.55	-0.12	-0.43
Sortino ratio Return per unit of downside risk	-0.44	0.51	-0.95
Omega ratio Gain probability vs. loss probability	0.94	1.06	-0.12
Calmar ratio Return relative to maximum drawdown	-0.52	-0.13	-0.39
Martin ratio Return relative to average drawdown	-0.69	-0.25	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIAT vs. COIW - Sharpe Ratio Comparison

The current FIAT Sharpe Ratio is -0.55, which is lower than the COIW Sharpe Ratio of -0.12. The chart below compares the historical Sharpe Ratios of FIAT and COIW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FIAT	COIW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	-0.12	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	-0.40	-0.45	+0.05

Correlation

The correlation between FIAT and COIW is -0.98. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FIAT vs. COIW - Dividend Comparison

FIAT's dividend yield for the trailing twelve months is around 136.83%, less than COIW's 202.89% yield.

	TTM	2025	2024
FIAT YieldMax Short COIN Option Income Strategy ETF	136.83%	178.11%	70.99%
COIW COIN WeeklyPay™ ETF	202.89%	120.37%	0.00%

Drawdowns

FIAT vs. COIW - Drawdown Comparison

The maximum FIAT drawdown since its inception was -70.50%, smaller than the maximum COIW drawdown of -74.55%. Use the drawdown chart below to compare losses from any high point for FIAT and COIW.

Drawdown Indicators

	FIAT	COIW	Difference
Max Drawdown Largest peak-to-trough decline	-70.50%	-74.55%	+4.05%
Max Drawdown (1Y) Largest decline over 1 year	-63.14%	-74.55%	+11.41%
Current Drawdown Current decline from peak	-51.10%	-67.65%	+16.55%
Average Drawdown Average peak-to-trough decline	-44.36%	-33.68%	-10.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	47.96%	38.63%	+9.33%

Volatility

FIAT vs. COIW - Volatility Comparison

The current volatility for YieldMax Short COIN Option Income Strategy ETF (FIAT) is 20.25%, while COIN WeeklyPay™ ETF (COIW) has a volatility of 28.20%. This indicates that FIAT experiences smaller price fluctuations and is considered to be less risky than COIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIAT	COIW	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.25%	28.20%	-7.95%
Volatility (6M) Calculated over the trailing 6-month period	41.52%	63.40%	-21.88%
Volatility (1Y) Calculated over the trailing 1-year period	58.69%	91.52%	-32.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.35%	93.23%	-31.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	61.35%	93.23%	-31.88%