GSEP vs. AMDY

Last updated Jun 24, 2026

GSEP (FT Cboe Vest U.S. Equity Moderate Buffer ETF – September) and AMDY (YieldMax AMD Option Income Strategy ETF) are both exchange-traded funds - GSEP is a Options Trading fund actively managed by FT Vest, while AMDY is a Derivative Income fund actively managed by YieldMax ETFs. Both are actively managed. Over the past year, GSEP returned 12.75% vs 203.83% for AMDY. A 0.56 correlation means they provide meaningful diversification when combined. GSEP charges 0.85%/yr vs 1.23%/yr for AMDY.

Performance

GSEP vs. AMDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) and YieldMax AMD Option Income Strategy ETF (AMDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GSEP achieves a 5.01% return, which is significantly lower than AMDY's 101.34% return.

GSEP

• 1D: -0.45%
• 1M: 0.17%
• YTD: 5.01%
• 6M: 4.55%
• 1Y: 12.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AMDY

• 1D: -4.73%
• 1M: 8.37%
• YTD: 101.34%
• 6M: 101.99%
• 1Y: 203.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSEP vs. AMDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GSEP FT Cboe Vest U.S. Equity Moderate Buffer ETF – September	5.01%	10.56%	10.85%	4.70%
AMDY YieldMax AMD Option Income Strategy ETF	101.34%	53.93%	-17.00%	25.92%

Correlation

The correlation between GSEP and AMDY is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Sep 19, 2023	0.56

The correlation between GSEP and AMDY has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

Return for Risk

GSEP vs. AMDY — Risk / Return Rank

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

GSEP

GSEP Risk / Return Rank: 74
GSEP Sharpe Ratio Rank: 73
GSEP Sortino Ratio Rank: 75
GSEP Omega Ratio Rank: 80
GSEP Calmar Ratio Rank: 63
GSEP Martin Ratio Rank: 80

AMDY

AMDY Risk / Return Rank: 90
AMDY Sharpe Ratio Rank: 95
AMDY Sortino Ratio Rank: 88
AMDY Omega Ratio Rank: 88
AMDY Calmar Ratio Rank: 95
AMDY Martin Ratio Rank: 84

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.

GSEP vs. AMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) and YieldMax AMD Option Income Strategy ETF (AMDY). 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.

	GSEP	AMDY	Difference
Sharpe ratio: Return per unit of total volatility	2.13	3.65	-1.52
Sortino ratio: Return per unit of downside risk	3.04	3.82	-0.78
Omega ratio: Gain probability vs. loss probability	1.43	1.53	-0.10
Calmar ratio: Return relative to maximum drawdown	2.88	7.44	-4.55
Martin ratio: Return relative to average drawdown	14.51	16.58	-2.08

GSEP vs. AMDY - Sharpe Ratio Comparison

The current GSEP Sharpe Ratio is 2.13, which is lower than the AMDY Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of GSEP and AMDY, 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

GSEP vs. AMDY - Drawdown Comparison

The maximum GSEP drawdown since its inception was -10.09%, smaller than the maximum AMDY drawdown of -53.92%. Use the drawdown chart below to compare losses from any high point for GSEP and AMDY.

Drawdown Indicators

	GSEP	AMDY	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-53.92%	+43.83%
Max Drawdown (1Y) Largest decline over 1 year	-4.44%	-27.59%	+23.15%
Current Drawdown Current decline from peak	-0.54%	-4.73%	+4.19%
Average Drawdown Average peak-to-trough decline	-0.73%	-17.78%	+17.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	12.35%	-11.47%

Volatility

GSEP vs. AMDY - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) is 1.63%, while YieldMax AMD Option Income Strategy ETF (AMDY) has a volatility of 21.35%. This indicates that GSEP experiences smaller price fluctuations and is considered to be less risky than AMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEP	AMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	21.35%	-19.72%
Volatility (6M) Calculated over the trailing 6-month period	4.84%	43.63%	-38.79%
Volatility (1Y) Calculated over the trailing 1-year period	6.02%	56.19%	-50.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.58%	46.93%	-39.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.58%	46.93%	-39.35%

GSEP vs. AMDY - Expense Ratio Comparison

GSEP has a 0.85% expense ratio, which is lower than AMDY's 1.23% expense ratio.

Dividends

GSEP vs. AMDY - Dividend Comparison

GSEP has not paid dividends to shareholders, while AMDY's dividend yield for the trailing twelve months is around 65.88%.

Position	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	65.88%	80.68%	109.98%	6.68%
GSEP FT Cboe Vest U.S. Equity Moderate Buffer ETF – September	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GSEP and AMDY in my portfolio?

GSEP and AMDY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GSEP or AMDY?

AMDY has higher volatility (21.35%) compared to GSEP (1.63%). In terms of maximum drawdown, GSEP dropped -10.09% vs AMDY's -53.92%.

Which ETF is better, GSEP or AMDY?

On 1-year performance, AMDY leads with 203.83% vs 12.75% for GSEP. On fees, GSEP is cheaper at 0.85% per year. On volatility, GSEP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEP or AMDY?

Over the 1-year period, AMDY has performed better with a 203.83% return vs 12.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEP or AMDY?

GSEP is cheaper with a 0.85% expense ratio, compared with 1.23% for AMDY.

Which ETF pays a higher dividend yield, GSEP or AMDY?

AMDY has the higher dividend yield at 65.88%, compared with 0.00% for GSEP.

What is the main difference between GSEP and AMDY?

GSEP is categorized as Options Trading, while AMDY is Derivative Income. They also come from different issuers: FT Vest and YieldMax ETFs. Their fees differ too: 0.85% for GSEP and 1.23% for AMDY.

Which has better risk-adjusted returns?

AMDY currently has the higher Sharpe Ratio (3.65 vs 2.13), 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.