HIYY vs. CONY
HIYY (YieldMax HIMS Option Income Strategy ETF) and CONY (YieldMax COIN Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. At a 0.49 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.
Performance
HIYY vs. CONY - Performance Comparison
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Returns By Period
In the year-to-date period, HIYY achieves a -1.66% return, which is significantly higher than CONY's -26.79% return.
HIYY
- 1D
- -2.05%
- 1M
- 26.22%
- YTD
- -1.66%
- 6M
- -6.93%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CONY
- 1D
- -3.16%
- 1M
- -11.77%
- YTD
- -26.79%
- 6M
- -30.97%
- 1Y
- -49.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HIYY vs. CONY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HIYY YieldMax HIMS Option Income Strategy ETF | -1.66% | -37.34% |
CONY YieldMax COIN Option Income Strategy ETF | -26.79% | -29.70% |
Correlation
The correlation between HIYY and CONY is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 23, 2025 | 0.49 |
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Return for Risk
HIYY vs. CONY — Risk / Return Rank
HIYY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CONY
HIYY vs. CONY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax HIMS Option Income Strategy ETF (HIYY) and YieldMax COIN Option Income Strategy ETF (CONY). 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.
| HIYY | CONY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.86 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.78 | — |
| Martin ratioReturn relative to average drawdown | — | -1.24 | — |
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Drawdowns
HIYY vs. CONY - Drawdown Comparison
The maximum HIYY drawdown since its inception was -73.95%, which is greater than CONY's maximum drawdown of -63.57%. Use the drawdown chart below to compare losses from any high point for HIYY and CONY.
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Drawdown Indicators
| HIYY | CONY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.95% | -63.57% | -10.38% |
Max Drawdown (1Y)Largest decline over 1 year | — | -63.39% | — |
Current DrawdownCurrent decline from peak | -43.93% | -58.53% | +14.60% |
Average DrawdownAverage peak-to-trough decline | -43.95% | -22.83% | -21.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 39.89% | — |
Volatility
HIYY vs. CONY - Volatility Comparison
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Volatility by Period
| HIYY | CONY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.74% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 44.42% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 84.42% | 57.79% | +26.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 84.42% | 59.89% | +24.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 84.42% | 59.89% | +24.53% |
HIYY vs. CONY - Expense Ratio Comparison
Both HIYY and CONY have an expense ratio of 0.99%.
Dividends
HIYY vs. CONY - Dividend Comparison
HIYY's dividend yield for the trailing twelve months is around 84.48%, less than CONY's 204.97% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CONY YieldMax COIN Option Income Strategy ETF | 204.97% | 192.07% | 155.66% | 16.43% |
HIYY YieldMax HIMS Option Income Strategy ETF | 84.48% | 29.99% | 0.00% | 0.00% |
Frequently Asked Questions
HIYY and CONY have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.99% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HIYY and CONY have the same expense ratio: 0.99% per year.
CONY has the higher dividend yield at 204.97%, compared with 84.48% for HIYY.
Find the right allocation for HIYY and CONY
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