GOOY vs. RYLD

Last updated Aug 4, 2026

GOOY (YieldMax GOOGL Option Income Strategy ETF) and RYLD (Global X Russell 2000 Covered Call ETF) are both Derivative Income funds. GOOY is actively managed, while RYLD is passively managed. Over the past 3 years, GOOY returned 25.61%/yr vs 8.70%/yr for RYLD. Their 0.38 correlation means their historical movements had little consistent relationship. GOOY charges 0.99%/yr vs 0.60%/yr for RYLD.

Performance

GOOY vs. RYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax GOOGL Option Income Strategy ETF (GOOY) and Global X Russell 2000 Covered Call ETF (RYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOOY achieves a 15.35% return, which is significantly higher than RYLD's 13.48% return.

GOOY

• 1D: 3.69%
• 1M: 1.69%
• 6M: 6.23%
• YTD: 15.35%
• 1Y: 70.54%
• 3Y*: 25.61%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 24.40%

RYLD

• 1D: 1.06%
• 1M: 2.27%
• 6M: 10.40%
• YTD: 13.48%
• 1Y: 26.26%
• 3Y*: 8.70%
• 5Y*: 3.43%
• 10Y*: —
• ALL TIME*: 5.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GOOY YieldMax GOOGL Option Income Strategy ETF	$5.33M	$4.69M	$7.86M
RYLD Global X Russell 2000 Covered Call ETF	$9.87M	$9.43M	$9.08M

GOOY vs. RYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GOOY YieldMax GOOGL Option Income Strategy ETF	15.35%	53.95%	12.58%	-3.35%
RYLD Global X Russell 2000 Covered Call ETF	13.48%	5.65%	10.13%	-2.35%

Correlation

The correlation between GOOY and RYLD is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (All Time) Calculated using the full available price history since Jul 28, 2023	0.38

Return for Risk

GOOY vs. RYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GOOY

GOOY Risk / Return Rank: 91
GOOY Sharpe Ratio Rank: 95
GOOY Sortino Ratio Rank: 94
GOOY Omega Ratio Rank: 93
GOOY Calmar Ratio Rank: 91
GOOY Martin Ratio Rank: 84

RYLD

RYLD Risk / Return Rank: 93
RYLD Sharpe Ratio Rank: 93
RYLD Sortino Ratio Rank: 93
RYLD Omega Ratio Rank: 94
RYLD Calmar Ratio Rank: 92
RYLD Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GOOY vs. RYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax GOOGL Option Income Strategy ETF (GOOY) and Global X Russell 2000 Covered Call ETF (RYLD). 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.

	GOOY	RYLD	Difference
Sharpe ratio: Return per unit of total volatility	2.75	2.50	+0.25
Sortino ratio: Return per unit of downside risk	3.70	3.52	+0.17
Omega ratio: Gain probability vs. loss probability	1.48	1.52	-0.05
Calmar ratio: Return relative to maximum drawdown	4.01	4.19	-0.19
Martin ratio: Return relative to average drawdown	11.89	17.17	-5.28

GOOY vs. RYLD - Sharpe Ratio Comparison

The current GOOY Sharpe Ratio is 2.75, which is comparable to the RYLD Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of GOOY and RYLD, 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

GOOY vs. RYLD - Drawdown Comparison

The maximum GOOY drawdown since its inception was -24.40%, smaller than the maximum RYLD drawdown of -41.53%. Use the drawdown chart below to compare losses from any high point for GOOY and RYLD.

Drawdown Indicators

	GOOY	RYLD	Difference
Max Drawdown Largest peak-to-trough decline	-24.40%	-41.53%	+17.13%
Max Drawdown (1Y) Largest decline over 1 year	-17.70%	-6.29%	-11.41%
Max Drawdown (3Y) Largest decline over 3 years	-24.40%	-19.05%	-5.35%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.33%	—
Current Drawdown Current decline from peak	-7.22%	0.00%	-7.22%
Average Drawdown Average peak-to-trough decline	-6.46%	-8.65%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.95%	1.53%	+4.42%

Volatility

GOOY vs. RYLD - Volatility Comparison

YieldMax GOOGL Option Income Strategy ETF (GOOY) has a higher volatility of 10.94% compared to Global X Russell 2000 Covered Call ETF (RYLD) at 2.30%. This indicates that GOOY's price experiences larger fluctuations and is considered to be riskier than RYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOOY	RYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.94%	2.30%	+8.64%
Volatility (6M) Calculated over the trailing 6-month period	20.74%	7.74%	+13.00%
Volatility (1Y) Calculated over the trailing 1-year period	25.85%	10.58%	+15.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.96%	13.98%	+9.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.96%	17.04%	+6.92%

GOOY vs. RYLD - Expense Ratio Comparison

GOOY has a 0.99% expense ratio, which is higher than RYLD's 0.60% expense ratio.

Dividends

GOOY vs. RYLD - Dividend Comparison

GOOY's dividend yield for the trailing twelve months is around 53.13%, more than RYLD's 11.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GOOY YieldMax GOOGL Option Income Strategy ETF	53.13%	41.50%	36.74%	7.90%	0.00%	0.00%	0.00%	0.00%
RYLD Global X Russell 2000 Covered Call ETF	11.50%	12.00%	12.03%	12.64%	13.49%	12.35%	10.76%	6.43%

Frequently Asked Questions

Can I hold both GOOY and RYLD in my portfolio?

GOOY and RYLD have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOOY or RYLD?

GOOY has higher volatility (10.94%) compared to RYLD (2.30%). In terms of maximum drawdown, GOOY dropped -24.40% vs RYLD's -41.53%.

Which ETF is better, GOOY or RYLD?

On 3-year performance, GOOY leads with 25.61% vs 8.70% for RYLD. On fees, RYLD is cheaper at 0.60% per year. On volatility, RYLD has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOOY or RYLD?

Over the 3-year period, GOOY has performed better with a 25.61% return vs 8.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOOY or RYLD?

RYLD is cheaper with a 0.60% expense ratio, compared with 0.99% for GOOY.

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

GOOY has the higher dividend yield at 53.13%, compared with 11.50% for RYLD.

What is the main difference between GOOY and RYLD?

They also come from different issuers: YieldMax and Global X. Their fees differ too: 0.99% for GOOY and 0.60% for RYLD.

Which has better risk-adjusted returns?

GOOY currently has the higher Sharpe Ratio (2.75 vs 2.50), 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.