FIAT vs. TSLY
FIAT (YieldMax Short COIN Option Income Strategy ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - FIAT is a Derivative Income fund actively managed by YieldMax, while TSLY is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, FIAT returned -0.18% vs 24.54% for TSLY. At a correlation of -0.46, they often move in opposite directions. Both charge a 0.99% expense ratio.
Performance
FIAT vs. TSLY - Performance Comparison
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Returns By Period
In the year-to-date period, FIAT achieves a 13.84% return, which is significantly higher than TSLY's -1.68% return.
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSLY
- 1D
- 0.10%
- 1M
- 5.56%
- YTD
- -1.68%
- 6M
- -1.00%
- 1Y
- 24.54%
- 3Y*
- 15.16%
- 5Y*
- —
- 10Y*
- —
FIAT vs. TSLY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
TSLY YieldMax TSLA Option Income Strategy ETF | -1.68% | 13.62% | 26.29% |
Correlation
The correlation between FIAT and TSLY is -0.39, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.39 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | -0.46 |
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Return for Risk
FIAT vs. TSLY — Risk / Return Rank
FIAT
TSLY
FIAT vs. TSLY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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 | TSLY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.65 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.14 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 1.14 | -1.14 |
| Martin ratioReturn relative to average drawdown | -0.01 | 2.75 | -2.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIAT | TSLY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | 0.65 | -0.65 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 0.30 | -0.68 |
Drawdowns
FIAT vs. TSLY - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, which is greater than TSLY's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for FIAT and TSLY.
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Drawdown Indicators
| FIAT | TSLY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -49.52% | -20.98% |
Max Drawdown (1Y)Largest decline over 1 year | -42.26% | -21.64% | -20.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -49.52% | — |
Current DrawdownCurrent decline from peak | -50.94% | -8.07% | -42.87% |
Average DrawdownAverage peak-to-trough decline | -45.35% | -20.00% | -25.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.32% | 9.10% | +18.22% |
Volatility
FIAT vs. TSLY - Volatility Comparison
YieldMax Short COIN Option Income Strategy ETF (FIAT) has a higher volatility of 15.34% compared to YieldMax TSLA Option Income Strategy ETF (TSLY) at 9.96%. This indicates that FIAT's price experiences larger fluctuations and is considered to be riskier than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAT | TSLY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 9.96% | +5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 42.03% | 22.37% | +19.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.49% | 38.18% | +17.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.56% | 45.50% | +15.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.56% | 45.50% | +15.06% |
FIAT vs. TSLY - Expense Ratio Comparison
Both FIAT and TSLY have an expense ratio of 0.99%.
Dividends
FIAT vs. TSLY - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 93.28%, more than TSLY's 83.79% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% | 0.00% |
TSLY YieldMax TSLA Option Income Strategy ETF | 83.79% | 91.19% | 82.30% | 76.47% |
Frequently Asked Questions
FIAT and TSLY have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (15.34%) compared to TSLY (9.96%). In terms of maximum drawdown, FIAT dropped -70.50% vs TSLY's -49.52%.
On 1-year performance, TSLY leads with 24.54% vs -0.18% for FIAT. Both ETFs have the same 0.99% expense ratio. On volatility, TSLY has been the lower-risk option at 9.96%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSLY has performed better with a 24.54% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIAT and TSLY have the same expense ratio: 0.99% per year.
FIAT has the higher dividend yield at 93.28%, compared with 83.79% for TSLY.
FIAT is categorized as Derivative Income, while TSLY is Options Trading.
TSLY currently has the higher Sharpe Ratio (0.65 vs -0.00), 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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