FIAT vs. XV
FIAT (YieldMax Short COIN Option Income Strategy ETF) and XV (Simplify Target 15 Distribution ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FIAT returned -0.18% vs 13.08% for XV. At a correlation of -0.44, they often move in opposite directions. FIAT charges 0.99%/yr vs 0.75%/yr for XV.
Performance
FIAT vs. XV - 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 XV's 3.17% return.
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XV
- 1D
- -0.40%
- 1M
- 1.21%
- YTD
- 3.17%
- 6M
- 2.76%
- 1Y
- 13.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT vs. XV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -39.72% |
XV Simplify Target 15 Distribution ETF | 3.17% | 16.13% |
Correlation
The correlation between FIAT and XV is -0.46, 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 | -0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2025 | -0.44 |
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Return for Risk
FIAT vs. XV — Risk / Return Rank
FIAT
XV
FIAT vs. XV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) and Simplify Target 15 Distribution ETF (XV). 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 | XV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.25 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | 2.29 | -2.30 |
| Martin ratioReturn relative to average drawdown | -0.01 | 8.72 | -8.73 |
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 | XV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | 1.42 | -1.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 1.62 | -1.99 |
Drawdowns
FIAT vs. XV - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, which is greater than XV's maximum drawdown of -5.73%. Use the drawdown chart below to compare losses from any high point for FIAT and XV.
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Drawdown Indicators
| FIAT | XV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -5.73% | -64.77% |
Max Drawdown (1Y)Largest decline over 1 year | -42.26% | -5.73% | -36.53% |
Current DrawdownCurrent decline from peak | -50.94% | -0.42% | -50.52% |
Average DrawdownAverage peak-to-trough decline | -45.35% | -0.98% | -44.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.32% | 1.50% | +25.82% |
Volatility
FIAT vs. XV - Volatility Comparison
YieldMax Short COIN Option Income Strategy ETF (FIAT) has a higher volatility of 15.34% compared to Simplify Target 15 Distribution ETF (XV) at 2.09%. This indicates that FIAT's price experiences larger fluctuations and is considered to be riskier than XV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAT | XV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 2.09% | +13.25% |
Volatility (6M)Calculated over the trailing 6-month period | 42.03% | 5.97% | +36.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.49% | 9.31% | +46.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.56% | 10.77% | +49.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.56% | 10.77% | +49.79% |
FIAT vs. XV - Expense Ratio Comparison
FIAT has a 0.99% expense ratio, which is higher than XV's 0.75% expense ratio.
Dividends
FIAT vs. XV - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 93.28%, more than XV's 19.22% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% |
XV Simplify Target 15 Distribution ETF | 19.22% | 13.87% | 0.00% |
Frequently Asked Questions
FIAT and XV have a correlation of -0.46, 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 XV (2.09%). In terms of maximum drawdown, FIAT dropped -70.50% vs XV's -5.73%.
On 1-year performance, XV leads with 13.08% vs -0.18% for FIAT. On fees, XV is cheaper at 0.75% per year. On volatility, XV has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XV has performed better with a 13.08% return vs -0.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XV is cheaper with a 0.75% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 93.28%, compared with 19.22% for XV.
They also come from different issuers: YieldMax and Simplify. Their fees differ too: 0.99% for FIAT and 0.75% for XV.
XV currently has the higher Sharpe Ratio (1.42 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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