GPTY vs. YMAX

Last updated Jun 4, 2026

GPTY (YieldMax AI & Tech Portfolio Option Income ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - GPTY is a Derivative Income fund actively managed by YieldMax, while YMAX is a Large Cap Blend Equities fund actively managed by YieldMax. Both are actively managed. Over the past year, GPTY returned 55.13% vs 9.02% for YMAX. Their correlation of 0.84 suggests significant overlap in exposure. GPTY charges 0.99%/yr vs 1.28%/yr for YMAX.

Performance

GPTY vs. YMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax AI & Tech Portfolio Option Income ETF (GPTY) and YieldMax Universe Fund of Option Income ETFs (YMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPTY achieves a 36.39% return, which is significantly higher than YMAX's 6.06% return.

GPTY

• 1D: -1.40%
• 1M: 19.04%
• YTD: 36.39%
• 6M: 32.30%
• 1Y: 55.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YMAX

• 1D: -1.70%
• 1M: 6.76%
• YTD: 6.06%
• 6M: 3.56%
• 1Y: 9.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GPTY vs. YMAX - Yearly Performance Comparison

	2026 (YTD)	2025
GPTY YieldMax AI & Tech Portfolio Option Income ETF	36.39%	17.15%
YMAX YieldMax Universe Fund of Option Income ETFs	6.06%	2.26%

Correlation

The correlation between GPTY and YMAX is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Jan 24, 2025	0.84

The correlation between GPTY and YMAX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

GPTY vs. YMAX - Sectors Allocation Comparison

Sectors	GPTY	YMAX
Technology	77.9%	68.7%
Communication Services	10.4%	6.9%
Consumer Cyclical	7.6%	4.8%
Financial Services	4.1%	13.8%
Basic Materials	-	2.2%
Consumer Defensive	-	0.9%
Energy	-	0.1%
Healthcare	-	0.8%
Industrials	-	1.9%
Real Estate	-	0.0%
Utilities	-	0.2%

Return for Risk

GPTY vs. YMAX — Risk / Return Rank

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

GPTY

GPTY Risk / Return Rank: 60
GPTY Sharpe Ratio Rank: 70
GPTY Sortino Ratio Rank: 62
GPTY Omega Ratio Rank: 64
GPTY Calmar Ratio Rank: 57
GPTY Martin Ratio Rank: 46

YMAX

YMAX Risk / Return Rank: 14
YMAX Sharpe Ratio Rank: 14
YMAX Sortino Ratio Rank: 14
YMAX Omega Ratio Rank: 15
YMAX Calmar Ratio Rank: 13
YMAX Martin Ratio Rank: 12

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.

GPTY vs. YMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax AI & Tech Portfolio Option Income ETF (GPTY) and YieldMax Universe Fund of Option Income ETFs (YMAX). 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.

	GPTY	YMAX	Difference
Sharpe ratio Return per unit of total volatility	2.33	0.42	+1.91
Sortino ratio Return per unit of downside risk	2.98	0.70	+2.27
Omega ratio Gain probability vs. loss probability	1.39	1.09	+0.30
Calmar ratio Return relative to maximum drawdown	2.87	0.35	+2.52
Martin ratio Return relative to average drawdown	7.65	0.82	+6.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GPTY vs. YMAX - Sharpe Ratio Comparison

The current GPTY Sharpe Ratio is 2.33, which is higher than the YMAX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of GPTY and YMAX, 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

	GPTY	YMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	0.42	+1.91
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.70	+0.74

Drawdowns

GPTY vs. YMAX - Drawdown Comparison

The maximum GPTY drawdown since its inception was -26.62%, roughly equal to the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for GPTY and YMAX.

Drawdown Indicators

	GPTY	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-26.13%	-0.49%
Max Drawdown (1Y) Largest decline over 1 year	-19.32%	-26.13%	+6.81%
Current Drawdown Current decline from peak	-1.40%	-5.98%	+4.58%
Average Drawdown Average peak-to-trough decline	-6.52%	-6.33%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.23%	10.99%	-3.76%

Volatility

GPTY vs. YMAX - Volatility Comparison

YieldMax AI & Tech Portfolio Option Income ETF (GPTY) has a higher volatility of 7.41% compared to YieldMax Universe Fund of Option Income ETFs (YMAX) at 6.22%. This indicates that GPTY's price experiences larger fluctuations and is considered to be riskier than YMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPTY	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.41%	6.22%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	18.19%	17.10%	+1.09%
Volatility (1Y) Calculated over the trailing 1-year period	23.95%	21.62%	+2.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.85%	22.97%	+5.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.85%	22.97%	+5.88%

GPTY vs. YMAX - Expense Ratio Comparison

GPTY has a 0.99% expense ratio, which is lower than YMAX's 1.28% expense ratio.

Dividends

GPTY vs. YMAX - Dividend Comparison

GPTY's dividend yield for the trailing twelve months is around 32.54%, less than YMAX's 72.94% yield.

Position	TTM	2025	2024
GPTY YieldMax AI & Tech Portfolio Option Income ETF	32.54%	34.23%	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	72.94%	78.70%	44.20%

Frequently Asked Questions

Can I hold both GPTY and YMAX in my portfolio?

GPTY and YMAX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPTY or YMAX?

GPTY has higher volatility (7.41%) compared to YMAX (6.22%). In terms of maximum drawdown, GPTY dropped -26.62% vs YMAX's -26.13%.

Which ETF is better, GPTY or YMAX?

On 1-year performance, GPTY leads with 55.13% vs 9.02% for YMAX. On fees, GPTY is cheaper at 0.99% per year. On volatility, YMAX has been the lower-risk option at 6.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPTY or YMAX?

Over the 1-year period, GPTY has performed better with a 55.13% return vs 9.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPTY or YMAX?

GPTY is cheaper with a 0.99% expense ratio, compared with 1.28% for YMAX.

Which ETF pays a higher dividend yield, GPTY or YMAX?

YMAX has the higher dividend yield at 72.94%, compared with 32.54% for GPTY.

What is the main difference between GPTY and YMAX?

GPTY is categorized as Derivative Income, while YMAX is Large Cap Blend Equities. Their fees differ too: 0.99% for GPTY and 1.28% for YMAX.

Which has better risk-adjusted returns?

GPTY currently has the higher Sharpe Ratio (2.33 vs 0.42), 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.