HIYY vs. HYGW
HIYY (YieldMax HIMS Option Income Strategy ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. HIYY is actively managed, while HYGW is passively managed. Their 0.26 correlation means their historical movements had little consistent relationship. HIYY charges 0.99%/yr vs 0.69%/yr for HYGW.
Performance
HIYY vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, HIYY achieves a -13.30% return, which is significantly lower than HYGW's 2.36% return.
HIYY
- 1D
- 1.16%
- 1M
- -18.62%
- 6M
- 0.34%
- YTD
- -13.30%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
HYGW
- 1D
- 0.14%
- 1M
- 0.03%
- 6M
- 1.81%
- YTD
- 2.36%
- 1Y
- 5.90%
- 3Y*
- 5.30%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $872.52K | $848.93K | $778.57K | |
| $480.97K | $636.40K | $814.79K |
HIYY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HIYY YieldMax HIMS Option Income Strategy ETF | -13.30% | -37.34% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.36% | 1.77% |
Correlation
The correlation between HIYY and HYGW is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 23, 2025 | 0.26 |
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Return for Risk
HIYY vs. HYGW — Risk / Return Rank
HIYY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW
HIYY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax HIMS Option Income Strategy ETF (HIYY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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 | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.42 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.26 | — |
| Martin ratioReturn relative to average drawdown | — | 14.57 | — |
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Drawdowns
HIYY vs. HYGW - Drawdown Comparison
The maximum HIYY drawdown since its inception was -73.95%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for HIYY and HYGW.
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Drawdown Indicators
| HIYY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.95% | -5.49% | -68.46% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.82% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | -50.57% | -0.21% | -50.36% |
Average DrawdownAverage peak-to-trough decline | -43.89% | -0.59% | -43.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
HIYY vs. HYGW - Volatility Comparison
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Volatility by Period
| HIYY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.32% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 83.59% | 2.92% | +80.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 83.59% | 4.62% | +78.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 83.59% | 4.62% | +78.97% |
HIYY vs. HYGW - Expense Ratio Comparison
HIYY has a 0.99% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
HIYY vs. HYGW - Dividend Comparison
HIYY's dividend yield for the trailing twelve months is around 122.19%, more than HYGW's 10.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HIYY YieldMax HIMS Option Income Strategy ETF | 122.19% | 29.99% | 0.00% | 0.00% | 0.00% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.71% | 12.53% | 12.30% | 15.98% | 8.71% |
Frequently Asked Questions
HIYY and HYGW have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGW is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGW is cheaper with a 0.69% expense ratio, compared with 0.99% for HIYY.
HIYY has the higher dividend yield at 122.19%, compared with 10.71% for HYGW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for HIYY and 0.69% for HYGW.
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