FIAT vs. YBIT
FIAT (YieldMax Short COIN Option Income Strategy ETF) and YBIT (YieldMax Bitcoin Option Income Strategy ETF) are both exchange-traded funds - FIAT is a Derivative Income fund actively managed by YieldMax, while YBIT is a Cryptocurrency fund actively managed by YieldMax. Both are actively managed. Over the past year, FIAT returned 56.58% vs -42.39% for YBIT. At a correlation of -0.70, they often move in opposite directions. Both charge a 0.99% expense ratio.
Performance
FIAT vs. YBIT - Performance Comparison
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Returns By Period
In the year-to-date period, FIAT achieves a 14.54% return, which is significantly higher than YBIT's -27.53% return.
FIAT
- 1D
- 1.15%
- 1M
- -1.13%
- 6M
- 20.55%
- YTD
- 14.54%
- 1Y
- 56.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YBIT
- 1D
- -1.95%
- 1M
- -0.58%
- 6M
- -29.47%
- YTD
- -27.53%
- 1Y
- -42.39%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT vs. YBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 14.54% | -24.17% | -28.04% |
YBIT YieldMax Bitcoin Option Income Strategy ETF | -27.53% | -2.49% | 14.95% |
Correlation
The correlation between FIAT and YBIT is -0.75, 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 | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024 | -0.70 |
The correlation between FIAT and YBIT has been stable across timeframes, ranging from -0.75 to -0.70 - a consistent structural relationship.
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Return for Risk
FIAT vs. YBIT — Risk / Return Rank
FIAT
YBIT
FIAT vs. YBIT - 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 Bitcoin Option Income Strategy ETF (YBIT). 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 | YBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.80 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | -0.90 | +2.56 |
| Martin ratioReturn relative to average drawdown | 3.58 | -1.48 | +5.06 |
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Drawdowns
FIAT vs. YBIT - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, which is greater than YBIT's maximum drawdown of -47.46%. Use the drawdown chart below to compare losses from any high point for FIAT and YBIT.
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Drawdown Indicators
| FIAT | YBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -47.46% | -23.04% |
Max Drawdown (1Y)Largest decline over 1 year | -34.22% | -47.46% | +13.24% |
Current DrawdownCurrent decline from peak | -50.63% | -45.32% | -5.31% |
Average DrawdownAverage peak-to-trough decline | -45.52% | -16.50% | -29.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.86% | 28.64% | -12.78% |
Volatility
FIAT vs. YBIT - Volatility Comparison
YieldMax Short COIN Option Income Strategy ETF (FIAT) has a higher volatility of 14.26% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 8.74%. This indicates that FIAT's price experiences larger fluctuations and is considered to be riskier than YBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIAT | YBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.26% | 8.74% | +5.52% |
Volatility (6M)Calculated over the trailing 6-month period | 43.65% | 29.47% | +14.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 52.65% | 36.95% | +15.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.04% | 38.48% | +21.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.04% | 38.48% | +21.56% |
FIAT vs. YBIT - Expense Ratio Comparison
Both FIAT and YBIT have an expense ratio of 0.99%.
Dividends
FIAT vs. YBIT - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 104.63%, more than YBIT's 96.20% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 104.63% | 178.11% | 70.99% |
YBIT YieldMax Bitcoin Option Income Strategy ETF | 96.20% | 88.33% | 60.00% |
Frequently Asked Questions
FIAT and YBIT have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIAT has higher volatility (14.26%) compared to YBIT (8.74%). In terms of maximum drawdown, FIAT dropped -70.50% vs YBIT's -47.46%.
On 1-year performance, FIAT leads with 56.58% vs -42.39% for YBIT. Both ETFs have the same 0.99% expense ratio. On volatility, YBIT has been the lower-risk option at 8.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a 56.58% return vs -42.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIAT and YBIT have the same expense ratio: 0.99% per year.
FIAT has the higher dividend yield at 104.63%, compared with 96.20% for YBIT.
FIAT is categorized as Derivative Income, while YBIT is Cryptocurrency.
FIAT currently has the higher Sharpe Ratio (1.08 vs -1.15), 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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