HOOW vs. HOOY

Last updated Jun 24, 2026

HOOW (Roundhill HOOD WeeklyPay ETF) and HOOY (YieldMax HOOD Option Income Strategy ETF) are both exchange-traded funds - HOOW is a Leveraged Equities fund actively managed by Roundhill, while HOOY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, HOOW returned 28.92% vs 19.41% for HOOY. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.99% expense ratio.

Performance

HOOW vs. HOOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HOOD WeeklyPay ETF (HOOW) and YieldMax HOOD Option Income Strategy ETF (HOOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOOW achieves a -14.70% return, which is significantly lower than HOOY's -6.44% return.

HOOW

• 1D: -2.94%
• 1M: 47.20%
• YTD: -14.70%
• 6M: -20.92%
• 1Y: 28.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOY

• 1D: -2.53%
• 1M: 27.13%
• YTD: -6.44%
• 6M: -10.93%
• 1Y: 19.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOW vs. HOOY - Yearly Performance Comparison

	2026 (YTD)	2025
HOOW Roundhill HOOD WeeklyPay ETF	-14.70%	52.60%
HOOY YieldMax HOOD Option Income Strategy ETF	-6.44%	30.16%

Correlation

The correlation between HOOW and HOOY is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.98

The correlation between HOOW and HOOY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

HOOW vs. HOOY — Risk / Return Rank

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

HOOW

HOOW Risk / Return Rank: 16
HOOW Sharpe Ratio Rank: 14
HOOW Sortino Ratio Rank: 20
HOOW Omega Ratio Rank: 19
HOOW Calmar Ratio Rank: 14
HOOW Martin Ratio Rank: 12

HOOY

HOOY Risk / Return Rank: 14
HOOY Sharpe Ratio Rank: 14
HOOY Sortino Ratio Rank: 16
HOOY Omega Ratio Rank: 17
HOOY Calmar Ratio Rank: 13
HOOY Martin Ratio Rank: 11

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.

HOOW vs. HOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HOOD WeeklyPay ETF (HOOW) and YieldMax HOOD Option Income Strategy ETF (HOOY). 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.

	HOOW	HOOY	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.35	0.00
Sortino ratio: Return per unit of downside risk	1.10	0.86	+0.23
Omega ratio: Gain probability vs. loss probability	1.13	1.11	+0.02
Calmar ratio: Return relative to maximum drawdown	0.44	0.38	+0.06
Martin ratio: Return relative to average drawdown	0.76	0.66	+0.10

HOOW vs. HOOY - Sharpe Ratio Comparison

The current HOOW Sharpe Ratio is 0.34, which is comparable to the HOOY Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of HOOW and HOOY, 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

HOOW vs. HOOY - Drawdown Comparison

The maximum HOOW drawdown since its inception was -65.74%, which is greater than HOOY's maximum drawdown of -51.54%. Use the drawdown chart below to compare losses from any high point for HOOW and HOOY.

Drawdown Indicators

	HOOW	HOOY	Difference
Max Drawdown Largest peak-to-trough decline	-65.74%	-51.54%	-14.20%
Max Drawdown (1Y) Largest decline over 1 year	-65.74%	-51.54%	-14.20%
Current Drawdown Current decline from peak	-42.07%	-30.28%	-11.79%
Average Drawdown Average peak-to-trough decline	-29.96%	-20.76%	-9.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.05%	29.31%	+8.74%

Volatility

HOOW vs. HOOY - Volatility Comparison

Roundhill HOOD WeeklyPay ETF (HOOW) has a higher volatility of 28.68% compared to YieldMax HOOD Option Income Strategy ETF (HOOY) at 18.25%. This indicates that HOOW's price experiences larger fluctuations and is considered to be riskier than HOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOW	HOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	28.68%	18.25%	+10.43%
Volatility (6M) Calculated over the trailing 6-month period	62.22%	42.06%	+20.16%
Volatility (1Y) Calculated over the trailing 1-year period	84.38%	56.26%	+28.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	84.14%	54.47%	+29.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	84.14%	54.47%	+29.67%

HOOW vs. HOOY - Expense Ratio Comparison

Both HOOW and HOOY have an expense ratio of 0.99%.

Dividends

HOOW vs. HOOY - Dividend Comparison

HOOW's dividend yield for the trailing twelve months is around 136.33%, less than HOOY's 148.68% yield.

Position	TTM	2025
HOOW Roundhill HOOD WeeklyPay ETF	136.33%	67.92%
HOOY YieldMax HOOD Option Income Strategy ETF	148.68%	82.87%

Frequently Asked Questions

Can I hold both HOOW and HOOY in my portfolio?

With a correlation of 0.98, HOOW and HOOY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, HOOW or HOOY?

HOOW has higher volatility (28.68%) compared to HOOY (18.25%). In terms of maximum drawdown, HOOW dropped -65.74% vs HOOY's -51.54%.

Which ETF is better, HOOW or HOOY?

On 1-year performance, HOOW leads with 28.92% vs 19.41% for HOOY. Both ETFs have the same 0.99% expense ratio. On volatility, HOOY has been the lower-risk option at 18.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOW or HOOY?

Over the 1-year period, HOOW has performed better with a 28.92% return vs 19.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOW or HOOY?

HOOW and HOOY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, HOOW or HOOY?

HOOY has the higher dividend yield at 148.68%, compared with 136.33% for HOOW.

What is the main difference between HOOW and HOOY?

HOOW is categorized as Leveraged Equities, while HOOY is Derivative Income. They also come from different issuers: Roundhill and YieldMax.

Which has better risk-adjusted returns?

HOOY currently has the higher Sharpe Ratio (0.35 vs 0.34), 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.