FTQI vs. TSMY

Last updated Jul 16, 2026

FTQI (First Trust Nasdaq BuyWrite Income ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both exchange-traded funds - FTQI is a Nasdaq-100 fund tracking the NASDAQ-100 Index, while TSMY is a Derivative Income fund actively managed by YieldMax. FTQI is passively managed, while TSMY is actively managed. Over the past year, FTQI returned 27.70% vs 63.61% for TSMY. A 0.64 correlation means they provide meaningful diversification when combined. FTQI charges 0.75%/yr vs 0.99%/yr for TSMY.

Performance

FTQI vs. TSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq BuyWrite Income ETF (FTQI) and YieldMax TSM Option Income Strategy ETF (TSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTQI achieves a 13.57% return, which is significantly lower than TSMY's 33.29% return.

FTQI

• 1D: 0.09%
• 1M: 1.97%
• 6M: 12.76%
• YTD: 13.57%
• 1Y: 27.70%
• 3Y*: 16.98%
• 5Y*: 12.43%
• 10Y*: 7.68%

TSMY

• 1D: -0.50%
• 1M: -2.51%
• 6M: 25.00%
• YTD: 33.29%
• 1Y: 63.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTQI vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FTQI First Trust Nasdaq BuyWrite Income ETF	13.57%	12.68%	7.89%
TSMY YieldMax TSM Option Income Strategy ETF	33.29%	41.00%	8.05%

Correlation

The correlation between FTQI and TSMY is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	0.64

The correlation between FTQI and TSMY has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

Return for Risk

FTQI vs. TSMY — Risk / Return Rank

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

FTQI

FTQI Risk / Return Rank: 92
FTQI Sharpe Ratio Rank: 92
FTQI Sortino Ratio Rank: 92
FTQI Omega Ratio Rank: 91
FTQI Calmar Ratio Rank: 91
FTQI Martin Ratio Rank: 94

TSMY

TSMY Risk / Return Rank: 78
TSMY Sharpe Ratio Rank: 78
TSMY Sortino Ratio Rank: 69
TSMY Omega Ratio Rank: 70
TSMY Calmar Ratio Rank: 88
TSMY Martin Ratio Rank: 86

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.

FTQI vs. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq BuyWrite Income ETF (FTQI) and YieldMax TSM Option Income Strategy ETF (TSMY). 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.

	FTQI	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	2.57	1.96	+0.60
Sortino ratio: Return per unit of downside risk	3.54	2.53	+1.00
Omega ratio: Gain probability vs. loss probability	1.48	1.33	+0.15
Calmar ratio: Return relative to maximum drawdown	4.46	4.12	+0.34
Martin ratio: Return relative to average drawdown	21.13	13.98	+7.15

FTQI vs. TSMY - Sharpe Ratio Comparison

The current FTQI Sharpe Ratio is 2.57, which is higher than the TSMY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FTQI and TSMY, 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

FTQI vs. TSMY - Drawdown Comparison

The maximum FTQI drawdown since its inception was -19.42%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for FTQI and TSMY.

Drawdown Indicators

	FTQI	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-19.42%	-31.15%	+11.73%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-15.50%	+9.26%
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.42%	—	—
Current Drawdown Current decline from peak	-0.13%	-9.75%	+9.62%
Average Drawdown Average peak-to-trough decline	-3.73%	-5.46%	+1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	4.56%	-3.25%

Volatility

FTQI vs. TSMY - Volatility Comparison

The current volatility for First Trust Nasdaq BuyWrite Income ETF (FTQI) is 2.86%, while YieldMax TSM Option Income Strategy ETF (TSMY) has a volatility of 14.54%. This indicates that FTQI experiences smaller price fluctuations and is considered to be less risky than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTQI	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	14.54%	-11.68%
Volatility (6M) Calculated over the trailing 6-month period	8.79%	26.85%	-18.06%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	32.63%	-21.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	34.32%	-19.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.98%	34.32%	-21.34%

FTQI vs. TSMY - Expense Ratio Comparison

FTQI has a 0.75% expense ratio, which is lower than TSMY's 0.99% expense ratio.

Dividends

FTQI vs. TSMY - Dividend Comparison

FTQI's dividend yield for the trailing twelve months is around 10.84%, less than TSMY's 52.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTQI First Trust Nasdaq BuyWrite Income ETF	10.84%	11.46%	11.66%	11.49%	9.85%	3.05%	3.27%	2.95%	3.27%	2.74%	3.02%	3.54%
TSMY YieldMax TSM Option Income Strategy ETF	52.90%	56.76%	13.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTQI and TSMY in my portfolio?

FTQI and TSMY have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTQI or TSMY?

TSMY has higher volatility (14.54%) compared to FTQI (2.86%). In terms of maximum drawdown, FTQI dropped -19.42% vs TSMY's -31.15%.

Which ETF is better, FTQI or TSMY?

On 1-year performance, TSMY leads with 63.61% vs 27.70% for FTQI. On fees, FTQI is cheaper at 0.75% per year. On volatility, FTQI has been the lower-risk option at 2.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTQI or TSMY?

Over the 1-year period, TSMY has performed better with a 63.61% return vs 27.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTQI or TSMY?

FTQI is cheaper with a 0.75% expense ratio, compared with 0.99% for TSMY.

Which ETF pays a higher dividend yield, FTQI or TSMY?

TSMY has the higher dividend yield at 52.90%, compared with 10.84% for FTQI.

What is the main difference between FTQI and TSMY?

FTQI is categorized as Nasdaq-100, while TSMY is Derivative Income. They also come from different issuers: First Trust and YieldMax. Their fees differ too: 0.75% for FTQI and 0.99% for TSMY.

Which has better risk-adjusted returns?

FTQI currently has the higher Sharpe Ratio (2.57 vs 1.96), 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.