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 -0.18% vs -35.27% for YBIT. At a correlation of -0.69, 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 13.84% return, which is significantly higher than YBIT's -24.59% return.
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YBIT
- 1D
- -2.50%
- 1M
- -15.67%
- YTD
- -24.59%
- 6M
- -27.08%
- 1Y
- -35.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT vs. YBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
YBIT YieldMax Bitcoin Option Income Strategy ETF | -24.59% | -2.49% | 14.21% |
Correlation
The correlation between FIAT and YBIT is -0.72, 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 | -0.72 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | -0.69 |
The correlation between FIAT and YBIT has been stable across timeframes, ranging from -0.72 to -0.69 - 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.
| FIAT | YBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.84 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | -0.78 | +0.77 |
| Martin ratioReturn relative to average drawdown | -0.01 | -1.43 | +1.42 |
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 | YBIT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | -0.98 | +0.98 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | -0.35 | -0.02 |
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 -45.54%. 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% | -45.54% | -24.96% |
Max Drawdown (1Y)Largest decline over 1 year | -42.26% | -45.54% | +3.28% |
Current DrawdownCurrent decline from peak | -50.94% | -43.10% | -7.84% |
Average DrawdownAverage peak-to-trough decline | -45.35% | -15.12% | -30.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.32% | 24.69% | +2.63% |
Volatility
FIAT vs. YBIT - Volatility Comparison
YieldMax Short COIN Option Income Strategy ETF (FIAT) has a higher volatility of 15.34% compared to YieldMax Bitcoin Option Income Strategy ETF (YBIT) at 7.77%. 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 | 15.34% | 7.77% | +7.57% |
Volatility (6M)Calculated over the trailing 6-month period | 42.03% | 29.10% | +12.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.49% | 36.10% | +19.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.56% | 38.63% | +21.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.56% | 38.63% | +21.93% |
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 93.28%, less than YBIT's 101.02% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% |
YBIT YieldMax Bitcoin Option Income Strategy ETF | 101.02% | 88.33% | 60.00% |
Frequently Asked Questions
FIAT and YBIT have a correlation of -0.72, 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 YBIT (7.77%). In terms of maximum drawdown, FIAT dropped -70.50% vs YBIT's -45.54%.
On 1-year performance, FIAT leads with -0.18% vs -35.27% for YBIT. Both ETFs have the same 0.99% expense ratio. On volatility, YBIT has been the lower-risk option at 7.77%. 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 -0.18% return vs -35.27%. 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.
YBIT has the higher dividend yield at 101.02%, compared with 93.28% for FIAT.
FIAT is categorized as Derivative Income, while YBIT is Cryptocurrency.
FIAT currently has the higher Sharpe Ratio (-0.00 vs -0.98), 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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