GDXY vs. NVDY

Last updated Jul 12, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, GDXY returned 15.98% vs 27.41% for NVDY. At a 0.17 correlation, their price movements are largely independent. GDXY charges 1.08%/yr vs 0.99%/yr for NVDY.

Performance

GDXY vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Gold Miners Option Income Strategy ETF (GDXY) and YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXY achieves a -17.00% return, which is significantly lower than NVDY's 11.28% return.

GDXY

• 1D: 0.30%
• 1M: -5.34%
• 6M: -20.79%
• YTD: -17.00%
• 1Y: 15.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: 2.66%
• 1M: 2.18%
• 6M: 11.30%
• YTD: 11.28%
• 1Y: 27.41%
• 3Y*: 51.31%
• 5Y*: —
• 10Y*: —

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

GDXY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	-17.00%	88.08%	-11.84%
NVDY YieldMax NVDA Option Income Strategy ETF	11.28%	27.38%	31.27%

Correlation

The correlation between GDXY and NVDY is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since May 21, 2024	0.17

Return for Risk

GDXY vs. NVDY — Risk / Return Rank

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

GDXY

GDXY Risk / Return Rank: 17
GDXY Sharpe Ratio Rank: 18
GDXY Sortino Ratio Rank: 17
GDXY Omega Ratio Rank: 19
GDXY Calmar Ratio Rank: 16
GDXY Martin Ratio Rank: 16

NVDY

NVDY Risk / Return Rank: 36
NVDY Sharpe Ratio Rank: 33
NVDY Sortino Ratio Rank: 32
NVDY Omega Ratio Rank: 31
NVDY Calmar Ratio Rank: 47
NVDY Martin Ratio Rank: 37

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.

GDXY vs. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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.

	GDXY	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	0.44	0.98	-0.55
Sortino ratio: Return per unit of downside risk	0.77	1.46	-0.69
Omega ratio: Gain probability vs. loss probability	1.11	1.18	-0.07
Calmar ratio: Return relative to maximum drawdown	0.48	1.91	-1.42
Martin ratio: Return relative to average drawdown	1.14	4.49	-3.35

GDXY vs. NVDY - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.44, which is lower than the NVDY Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of GDXY and NVDY, 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

GDXY vs. NVDY - Drawdown Comparison

The maximum GDXY drawdown since its inception was -34.98%, roughly equal to the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for GDXY and NVDY.

Drawdown Indicators

	GDXY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-34.98%	-34.08%	-0.90%
Max Drawdown (1Y) Largest decline over 1 year	-34.98%	-14.67%	-20.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-33.37%	-8.13%	-25.24%
Average Drawdown Average peak-to-trough decline	-7.57%	-6.29%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.75%	6.21%	+8.54%

Volatility

GDXY vs. NVDY - Volatility Comparison

YieldMax Gold Miners Option Income Strategy ETF (GDXY) has a higher volatility of 12.51% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 8.30%. This indicates that GDXY's price experiences larger fluctuations and is considered to be riskier than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.51%	8.30%	+4.21%
Volatility (6M) Calculated over the trailing 6-month period	33.17%	21.85%	+11.32%
Volatility (1Y) Calculated over the trailing 1-year period	38.87%	28.51%	+10.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	38.01%	-5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.57%	38.01%	-5.44%

GDXY vs. NVDY - Expense Ratio Comparison

GDXY has a 1.08% expense ratio, which is higher than NVDY's 0.99% expense ratio.

Dividends

GDXY vs. NVDY - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 84.15%, more than NVDY's 65.67% yield.

Position	TTM	2025	2024	2023
GDXY YieldMax Gold Miners Option Income Strategy ETF	84.15%	52.13%	23.91%	0.00%
NVDY YieldMax NVDA Option Income Strategy ETF	65.67%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both GDXY and NVDY in my portfolio?

GDXY and NVDY have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDXY or NVDY?

GDXY has higher volatility (12.51%) compared to NVDY (8.30%). In terms of maximum drawdown, GDXY dropped -34.98% vs NVDY's -34.08%.

Which ETF is better, GDXY or NVDY?

On 1-year performance, NVDY leads with 27.41% vs 15.98% for GDXY. On fees, NVDY is cheaper at 0.99% per year. On volatility, NVDY has been the lower-risk option at 8.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or NVDY?

Over the 1-year period, NVDY has performed better with a 27.41% return vs 15.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or NVDY?

NVDY is cheaper with a 0.99% expense ratio, compared with 1.08% for GDXY.

Which ETF pays a higher dividend yield, GDXY or NVDY?

GDXY has the higher dividend yield at 84.15%, compared with 65.67% for NVDY.

What is the main difference between GDXY and NVDY?

GDXY is categorized as Gold, while NVDY is Derivative Income. Their fees differ too: 1.08% for GDXY and 0.99% for NVDY.

Which has better risk-adjusted returns?

NVDY currently has the higher Sharpe Ratio (0.98 vs 0.44), 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.