FIAT vs. DAMD

Last updated Aug 4, 2026

FIAT (YieldMax Short COIN Option Income Strategy ETF) and DAMD (Defiance Daily Target 2X Short AMD ETF) are both exchange-traded funds - FIAT is a Derivative Income fund actively managed by YieldMax, while DAMD is a Inverse Equities fund tracking the Advanced Micro Devices, Inc.. FIAT is actively managed, while DAMD is passively managed. Their 0.33 correlation means their historical movements had little consistent relationship. FIAT charges 0.99%/yr vs 1.31%/yr for DAMD.

Performance

FIAT vs. DAMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short COIN Option Income Strategy ETF (FIAT) and Defiance Daily Target 2X Short AMD ETF (DAMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIAT achieves a 20.47% return, which is significantly higher than DAMD's -93.24% return.

FIAT

• 1D: 0.37%
• 1M: 10.33%
• 6M: 5.84%
• YTD: 20.47%
• 1Y: 46.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -18.39%

DAMD

• 1D: -2.91%
• 1M: -4.57%
• 6M: -90.44%
• YTD: -93.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAMD Defiance Daily Target 2X Short AMD ETF	$114.61M	$99.11M	$66.58M
FIAT YieldMax Short COIN Option Income Strategy ETF	$1.18M	$1.16M	$1.55M

FIAT vs. DAMD - Yearly Performance Comparison

	2026 (YTD)	2025
FIAT YieldMax Short COIN Option Income Strategy ETF	20.47%	17.61%
DAMD Defiance Daily Target 2X Short AMD ETF	-93.24%	13.18%

Correlation

The correlation between FIAT and DAMD is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 14, 2025	0.33

Return for Risk

FIAT vs. DAMD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIAT

FIAT Risk / Return Rank: 35
FIAT Sharpe Ratio Rank: 35
FIAT Sortino Ratio Rank: 35
FIAT Omega Ratio Rank: 37
FIAT Calmar Ratio Rank: 38
FIAT Martin Ratio Rank: 31

DAMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIAT vs. DAMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and Defiance Daily Target 2X Short AMD ETF (DAMD). 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	DAMD	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.36	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.37	—	—
Martin ratio: Return relative to average drawdown	2.83	—	—

Drawdowns

FIAT vs. DAMD - Drawdown Comparison

The maximum FIAT drawdown since its inception was -70.50%, smaller than the maximum DAMD drawdown of -95.19%. Use the drawdown chart below to compare losses from any high point for FIAT and DAMD.

Drawdown Indicators

	FIAT	DAMD	Difference
Max Drawdown Largest peak-to-trough decline	-70.50%	-95.19%	+24.69%
Max Drawdown (1Y) Largest decline over 1 year	-34.22%	—	—
Current Drawdown Current decline from peak	-48.08%	-94.30%	+46.22%
Average Drawdown Average peak-to-trough decline	-45.69%	-51.35%	+5.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.56%	—	—

Volatility

Volatility by Period

	FIAT	DAMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	45.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.41%	143.68%	-90.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.06%	143.68%	-83.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	60.06%	143.68%	-83.62%

FIAT vs. DAMD - Expense Ratio Comparison

FIAT has a 0.99% expense ratio, which is lower than DAMD's 1.31% expense ratio.

Dividends

FIAT vs. DAMD - Dividend Comparison

FIAT's dividend yield for the trailing twelve months is around 100.80%, while DAMD has not paid dividends to shareholders.

Position	TTM	2025	2024
DAMD Defiance Daily Target 2X Short AMD ETF	0.00%	0.00%	0.00%
FIAT YieldMax Short COIN Option Income Strategy ETF	100.80%	178.11%	70.99%

Frequently Asked Questions

Can I hold both FIAT and DAMD in my portfolio?

FIAT and DAMD have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FIAT or DAMD?

On fees, FIAT is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FIAT or DAMD?

FIAT is cheaper with a 0.99% expense ratio, compared with 1.31% for DAMD.

Which ETF pays a higher dividend yield, FIAT or DAMD?

FIAT has the higher dividend yield at 100.80%, compared with 0.00% for DAMD.

What is the main difference between FIAT and DAMD?

FIAT is categorized as Derivative Income, while DAMD is Inverse Equities. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for FIAT and 1.31% for DAMD.