GRNI vs. JPO

Last updated Aug 5, 2026

GRNI (Fundstrat Granny Shots US Large Cap & Income ETF) and JPO (YieldMax JPM Option Income Strategy ETF) are both exchange-traded funds - GRNI is a Derivative Income fund actively managed by Tidal, while JPO is a Options Trading fund actively managed by Tidal. Both are actively managed. Their 0.40 correlation means their historical movements had little consistent relationship. GRNI charges 0.99%/yr vs 1.19%/yr for JPO.

Performance

GRNI vs. JPO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fundstrat Granny Shots US Large Cap & Income ETF (GRNI) and YieldMax JPM Option Income Strategy ETF (JPO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GRNI having a 10.53% return and JPO slightly lower at 10.28%.

GRNI

• 1D: 1.68%
• 1M: 1.07%
• 6M: 10.10%
• YTD: 10.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

JPO

• 1D: 1.23%
• 1M: 6.73%
• 6M: 13.45%
• YTD: 10.28%
• 1Y: 19.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.94%

*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)
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	$745.14K	$669.94K	$736.31K
JPO YieldMax JPM Option Income Strategy ETF	$460.52K	$414.87K	$345.34K

GRNI vs. JPO - Yearly Performance Comparison

	2026 (YTD)	2025
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	10.53%	2.24%
JPO YieldMax JPM Option Income Strategy ETF	10.28%	6.08%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.40

Return for Risk

GRNI vs. JPO — Risk / Return Rank

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

GRNI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

JPO

JPO Risk / Return Rank: 34
JPO Sharpe Ratio Rank: 36
JPO Sortino Ratio Rank: 33
JPO Omega Ratio Rank: 33
JPO Calmar Ratio Rank: 35
JPO Martin Ratio Rank: 32

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.

GRNI vs. JPO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fundstrat Granny Shots US Large Cap & Income ETF (GRNI) and YieldMax JPM Option Income Strategy ETF (JPO). 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.

	GRNI	JPO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.00	—
Sortino ratio: Return per unit of downside risk	—	1.38	—
Omega ratio: Gain probability vs. loss probability	—	1.18	—
Calmar ratio: Return relative to maximum drawdown	—	1.35	—
Martin ratio: Return relative to average drawdown	—	3.35	—

Drawdowns

GRNI vs. JPO - Drawdown Comparison

The maximum GRNI drawdown since its inception was -9.55%, smaller than the maximum JPO drawdown of -24.80%. Use the drawdown chart below to compare losses from any high point for GRNI and JPO.

Drawdown Indicators

	GRNI	JPO	Difference
Max Drawdown Largest peak-to-trough decline	-9.55%	-24.80%	+15.25%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.24%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.02%	-4.41%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.72%	—

Volatility

Volatility by Period

	GRNI	JPO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.95%	19.32%	-2.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	19.04%	-2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.95%	19.04%	-2.09%

GRNI vs. JPO - Expense Ratio Comparison

GRNI has a 0.99% expense ratio, which is lower than JPO's 1.19% expense ratio.

Dividends

GRNI vs. JPO - Dividend Comparison

GRNI's dividend yield for the trailing twelve months is around 6.46%, less than JPO's 31.43% yield.

Position	TTM	2025	2024	2023
GRNI Fundstrat Granny Shots US Large Cap & Income ETF	6.46%	0.83%	0.00%	0.00%
JPO YieldMax JPM Option Income Strategy ETF	31.43%	34.13%	25.15%	4.84%

Frequently Asked Questions

Can I hold both GRNI and JPO in my portfolio?

GRNI and JPO 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 ETF is better, GRNI or JPO?

On fees, GRNI is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GRNI or JPO?

GRNI is cheaper with a 0.99% expense ratio, compared with 1.19% for JPO.

Which ETF pays a higher dividend yield, GRNI or JPO?

JPO has the higher dividend yield at 31.43%, compared with 6.46% for GRNI.

What is the main difference between GRNI and JPO?

GRNI is categorized as Derivative Income, while JPO is Options Trading. Their fees differ too: 0.99% for GRNI and 1.19% for JPO.