GDXY vs. SQY

Last updated Jun 4, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and SQY (YieldMax SQ Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Over the past year, GDXY returned 30.32% vs -0.20% for SQY. At a 0.16 correlation, their price movements are largely independent. GDXY charges 0.99%/yr vs 1.01%/yr for SQY.

Performance

GDXY vs. SQY - 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 SQ Option Income Strategy ETF (SQY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDXY achieves a -6.82% return, which is significantly lower than SQY's -1.01% return.

GDXY

• 1D: -2.47%
• 1M: -2.37%
• YTD: -6.82%
• 6M: -3.09%
• 1Y: 30.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SQY

• 1D: -5.22%
• 1M: -4.39%
• YTD: -1.01%
• 6M: 6.08%
• 1Y: -0.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GDXY vs. SQY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	-6.82%	88.08%	-11.63%
SQY YieldMax SQ Option Income Strategy ETF	-1.01%	-29.43%	20.25%

Correlation

The correlation between GDXY and SQY is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since May 22, 2024	0.16

Return for Risk

GDXY vs. SQY — Risk / Return Rank

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

GDXY

GDXY Risk / Return Rank: 23
GDXY Sharpe Ratio Rank: 23
GDXY Sortino Ratio Rank: 22
GDXY Omega Ratio Rank: 25
GDXY Calmar Ratio Rank: 23
GDXY Martin Ratio Rank: 22

SQY

SQY Risk / Return Rank: 9
SQY Sharpe Ratio Rank: 8
SQY Sortino Ratio Rank: 9
SQY Omega Ratio Rank: 10
SQY Calmar Ratio Rank: 9
SQY Martin Ratio Rank: 9

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. SQY - 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 SQ Option Income Strategy ETF (SQY). 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.

	GDXY	SQY	Difference
Sharpe ratio: Return per unit of total volatility	0.83	-0.01	+0.84
Sortino ratio: Return per unit of downside risk	1.18	0.26	+0.93
Omega ratio: Gain probability vs. loss probability	1.17	1.03	+0.14
Calmar ratio: Return relative to maximum drawdown	1.09	-0.01	+1.09
Martin ratio: Return relative to average drawdown	2.77	-0.01	+2.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDXY vs. SQY - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.83, which is higher than the SQY Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of GDXY and SQY, 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

	GDXY	SQY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	-0.01	+0.84
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.19	+0.57

Drawdowns

GDXY vs. SQY - Drawdown Comparison

The maximum GDXY drawdown since its inception was -28.03%, smaller than the maximum SQY drawdown of -52.30%. Use the drawdown chart below to compare losses from any high point for GDXY and SQY.

Drawdown Indicators

	GDXY	SQY	Difference
Max Drawdown Largest peak-to-trough decline	-28.03%	-52.30%	+24.27%
Max Drawdown (1Y) Largest decline over 1 year	-28.03%	-37.72%	+9.69%
Current Drawdown Current decline from peak	-25.20%	-37.84%	+12.64%
Average Drawdown Average peak-to-trough decline	-6.40%	-21.82%	+15.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.96%	17.18%	-6.22%

Volatility

GDXY vs. SQY - Volatility Comparison

YieldMax Gold Miners Option Income Strategy ETF (GDXY) has a higher volatility of 11.75% compared to YieldMax SQ Option Income Strategy ETF (SQY) at 10.82%. This indicates that GDXY's price experiences larger fluctuations and is considered to be riskier than SQY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDXY	SQY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.75%	10.82%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	30.92%	31.08%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	36.57%	38.83%	-2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.73%	42.20%	-10.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.73%	42.20%	-10.47%

GDXY vs. SQY - Expense Ratio Comparison

GDXY has a 0.99% expense ratio, which is lower than SQY's 1.01% expense ratio.

Dividends

GDXY vs. SQY - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 74.25%, less than SQY's 109.42% yield.

Position	TTM	2025	2024	2023
GDXY YieldMax Gold Miners Option Income Strategy ETF	74.25%	52.13%	23.91%	0.00%
SQY YieldMax SQ Option Income Strategy ETF	109.42%	95.35%	62.54%	9.85%

Frequently Asked Questions

Can I hold both GDXY and SQY in my portfolio?

GDXY and SQY have a correlation of 0.18, 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 SQY?

GDXY has higher volatility (11.75%) compared to SQY (10.82%). In terms of maximum drawdown, GDXY dropped -28.03% vs SQY's -52.30%.

Which ETF is better, GDXY or SQY?

On 1-year performance, GDXY leads with 30.32% vs -0.20% for SQY. On fees, GDXY is cheaper at 0.99% per year. On volatility, SQY has been the lower-risk option at 10.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or SQY?

Over the 1-year period, GDXY has performed better with a 30.32% return vs -0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or SQY?

GDXY is cheaper with a 0.99% expense ratio, compared with 1.01% for SQY.

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

SQY has the higher dividend yield at 109.42%, compared with 74.25% for GDXY.

What is the main difference between GDXY and SQY?

Their fees differ too: 0.99% for GDXY and 1.01% for SQY.

Which has better risk-adjusted returns?

GDXY currently has the higher Sharpe Ratio (0.83 vs -0.01), 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.