FRNW vs. GOOY

Last updated Jun 14, 2026

FRNW (Fidelity Clean Energy ETF) and GOOY (YieldMax GOOGL Option Income Strategy ETF) are both exchange-traded funds - FRNW is a Alternative Energy Equities fund actively managed by Fidelity, while GOOY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, FRNW returned 62.88% vs 81.48% for GOOY. At a 0.28 correlation, their price movements are largely independent. FRNW charges 0.39%/yr vs 0.99%/yr for GOOY.

Performance

FRNW vs. GOOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Clean Energy ETF (FRNW) and YieldMax GOOGL Option Income Strategy ETF (GOOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRNW achieves a 23.12% return, which is significantly higher than GOOY's 13.92% return.

FRNW

• 1D: 1.22%
• 1M: -4.62%
• YTD: 23.12%
• 6M: 22.47%
• 1Y: 62.88%
• 3Y*: 6.70%
• 5Y*: —
• 10Y*: —

GOOY

• 1D: 0.00%
• 1M: -7.48%
• YTD: 13.92%
• 6M: 14.56%
• 1Y: 81.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FRNW vs. GOOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FRNW Fidelity Clean Energy ETF	23.12%	53.20%	-21.11%	-14.96%
GOOY YieldMax GOOGL Option Income Strategy ETF	13.92%	53.95%	12.58%	-3.35%

Correlation

The correlation between FRNW and GOOY is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jul 28, 2023	0.28

Return for Risk

FRNW vs. GOOY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRNW

FRNW Risk / Return Rank: 82
FRNW Sharpe Ratio Rank: 84
FRNW Sortino Ratio Rank: 77
FRNW Omega Ratio Rank: 73
FRNW Calmar Ratio Rank: 88
FRNW Martin Ratio Rank: 86

GOOY

GOOY Risk / Return Rank: 93
GOOY Sharpe Ratio Rank: 96
GOOY Sortino Ratio Rank: 95
GOOY Omega Ratio Rank: 94
GOOY Calmar Ratio Rank: 91
GOOY Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRNW vs. GOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Clean Energy ETF (FRNW) and YieldMax GOOGL Option Income Strategy ETF (GOOY). 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.

	FRNW	GOOY	Difference
Sharpe ratio: Return per unit of total volatility	2.36	3.51	-1.15
Sortino ratio: Return per unit of downside risk	2.97	4.76	-1.79
Omega ratio: Gain probability vs. loss probability	1.37	1.60	-0.23
Calmar ratio: Return relative to maximum drawdown	4.48	5.06	-0.58
Martin ratio: Return relative to average drawdown	15.67	18.64	-2.98

FRNW vs. GOOY - Sharpe Ratio Comparison

The current FRNW Sharpe Ratio is 2.36, which is lower than the GOOY Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of FRNW and GOOY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FRNW vs. GOOY - Drawdown Comparison

The maximum FRNW drawdown since its inception was -59.37%, which is greater than GOOY's maximum drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for FRNW and GOOY.

Drawdown Indicators

	FRNW	GOOY	Difference
Max Drawdown Largest peak-to-trough decline	-59.37%	-24.40%	-34.97%
Max Drawdown (1Y) Largest decline over 1 year	-14.20%	-16.15%	+1.95%
Max Drawdown (3Y) Largest decline over 3 years	-45.14%	—	—
Current Drawdown Current decline from peak	-11.09%	-8.37%	-2.72%
Average Drawdown Average peak-to-trough decline	-33.17%	-6.27%	-26.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.05%	4.38%	-0.33%

Volatility

FRNW vs. GOOY - Volatility Comparison

Fidelity Clean Energy ETF (FRNW) has a higher volatility of 10.63% compared to YieldMax GOOGL Option Income Strategy ETF (GOOY) at 6.21%. This indicates that FRNW's price experiences larger fluctuations and is considered to be riskier than GOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRNW	GOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.63%	6.21%	+4.42%
Volatility (6M) Calculated over the trailing 6-month period	19.61%	17.39%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	26.92%	23.33%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.52%	23.29%	+5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.52%	23.29%	+5.23%

FRNW vs. GOOY - Expense Ratio Comparison

FRNW has a 0.39% expense ratio, which is lower than GOOY's 0.99% expense ratio.

Dividends

FRNW vs. GOOY - Dividend Comparison

FRNW's dividend yield for the trailing twelve months is around 1.02%, less than GOOY's 49.78% yield.

Position	TTM	2025	2024	2023	2022	2021
FRNW Fidelity Clean Energy ETF	1.02%	1.25%	1.43%	1.30%	0.69%	0.04%
GOOY YieldMax GOOGL Option Income Strategy ETF	49.78%	41.50%	36.74%	7.90%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRNW and GOOY in my portfolio?

FRNW and GOOY have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRNW or GOOY?

FRNW has higher volatility (10.63%) compared to GOOY (6.21%). In terms of maximum drawdown, FRNW dropped -59.37% vs GOOY's -24.40%.

Which ETF is better, FRNW or GOOY?

On 1-year performance, GOOY leads with 81.48% vs 62.88% for FRNW. On fees, FRNW is cheaper at 0.39% per year. On volatility, GOOY has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FRNW or GOOY?

Over the 1-year period, GOOY has performed better with a 81.48% return vs 62.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FRNW or GOOY?

FRNW is cheaper with a 0.39% expense ratio, compared with 0.99% for GOOY.

Which ETF pays a higher dividend yield, FRNW or GOOY?

GOOY has the higher dividend yield at 49.78%, compared with 1.02% for FRNW.

What is the main difference between FRNW and GOOY?

FRNW is categorized as Alternative Energy Equities, while GOOY is Derivative Income. They also come from different issuers: Fidelity and YieldMax. Their fees differ too: 0.39% for FRNW and 0.99% for GOOY.

Which has better risk-adjusted returns?

GOOY currently has the higher Sharpe Ratio (3.51 vs 2.36), 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.