FYEE vs. TSMY

Last updated Jun 4, 2026

FYEE (Fidelity Yield Enhanced Equity ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FYEE returned 24.64% vs 92.13% for TSMY. A 0.55 correlation means they provide meaningful diversification when combined. FYEE charges 0.28%/yr vs 0.99%/yr for TSMY.

Performance

FYEE vs. TSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Yield Enhanced Equity ETF (FYEE) 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, FYEE achieves a 7.03% return, which is significantly lower than TSMY's 37.04% return.

FYEE

• 1D: -0.30%
• 1M: 3.22%
• YTD: 7.03%
• 6M: 8.52%
• 1Y: 24.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: -1.37%
• 1M: 7.48%
• YTD: 37.04%
• 6M: 39.21%
• 1Y: 92.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FYEE vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	7.03%	15.76%	6.72%
TSMY YieldMax TSM Option Income Strategy ETF	37.04%	41.00%	8.15%

Correlation

The correlation between FYEE and TSMY is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Aug 22, 2024	0.55

The correlation between FYEE and TSMY has been stable across timeframes, ranging from 0.54 to 0.55 - a consistent structural relationship.

Return for Risk

FYEE vs. TSMY — Risk / Return Rank

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

FYEE

FYEE Risk / Return Rank: 77
FYEE Sharpe Ratio Rank: 78
FYEE Sortino Ratio Rank: 76
FYEE Omega Ratio Rank: 84
FYEE Calmar Ratio Rank: 66
FYEE Martin Ratio Rank: 83

TSMY

TSMY Risk / Return Rank: 88
TSMY Sharpe Ratio Rank: 90
TSMY Sortino Ratio Rank: 85
TSMY Omega Ratio Rank: 82
TSMY Calmar Ratio Rank: 91
TSMY 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.

FYEE vs. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Yield Enhanced Equity ETF (FYEE) 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.

	FYEE	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	2.57	3.21	-0.64
Sortino ratio: Return per unit of downside risk	3.47	3.86	-0.39
Omega ratio: Gain probability vs. loss probability	1.52	1.50	+0.02
Calmar ratio: Return relative to maximum drawdown	3.35	5.98	-2.63
Martin ratio: Return relative to average drawdown	17.14	22.18	-5.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYEE vs. TSMY - Sharpe Ratio Comparison

The current FYEE Sharpe Ratio is 2.57, which is comparable to the TSMY Sharpe Ratio of 3.21. The chart below compares the historical Sharpe Ratios of FYEE 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.

Sharpe Ratios by Period

	FYEE	TSMY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	3.21	-0.64
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	1.56	-0.31

Drawdowns

FYEE vs. TSMY - Drawdown Comparison

The maximum FYEE drawdown since its inception was -18.79%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for FYEE and TSMY.

Drawdown Indicators

	FYEE	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-18.79%	-31.15%	+12.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.39%	-15.50%	+8.11%
Current Drawdown Current decline from peak	-0.30%	-1.37%	+1.07%
Average Drawdown Average peak-to-trough decline	-2.25%	-5.51%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	4.17%	-2.73%

Volatility

FYEE vs. TSMY - Volatility Comparison

The current volatility for Fidelity Yield Enhanced Equity ETF (FYEE) is 1.43%, while YieldMax TSM Option Income Strategy ETF (TSMY) has a volatility of 9.52%. This indicates that FYEE 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

	FYEE	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	9.52%	-8.09%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	22.68%	-15.42%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	28.87%	-19.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	33.22%	-19.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.84%	33.22%	-19.38%

FYEE vs. TSMY - Expense Ratio Comparison

FYEE has a 0.28% expense ratio, which is lower than TSMY's 0.99% expense ratio.

Dividends

FYEE vs. TSMY - Dividend Comparison

FYEE's dividend yield for the trailing twelve months is around 7.57%, less than TSMY's 52.19% yield.

Position	TTM	2025	2024
FYEE Fidelity Yield Enhanced Equity ETF	7.57%	7.08%	5.45%
TSMY YieldMax TSM Option Income Strategy ETF	52.19%	56.76%	13.71%

Frequently Asked Questions

Can I hold both FYEE and TSMY in my portfolio?

FYEE and TSMY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYEE or TSMY?

TSMY has higher volatility (9.52%) compared to FYEE (1.43%). In terms of maximum drawdown, FYEE dropped -18.79% vs TSMY's -31.15%.

Which ETF is better, FYEE or TSMY?

On 1-year performance, TSMY leads with 92.13% vs 24.64% for FYEE. On fees, FYEE is cheaper at 0.28% per year. On volatility, FYEE has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYEE or TSMY?

Over the 1-year period, TSMY has performed better with a 92.13% return vs 24.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYEE or TSMY?

FYEE is cheaper with a 0.28% expense ratio, compared with 0.99% for TSMY.

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

TSMY has the higher dividend yield at 52.19%, compared with 7.57% for FYEE.

What is the main difference between FYEE and TSMY?

They also come from different issuers: Fidelity and YieldMax. Their fees differ too: 0.28% for FYEE and 0.99% for TSMY.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (3.21 vs 2.57), 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.