HOOY vs. HOOI

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax HOOD Option Income Strategy ETF (HOOY) and Defiance Leveraged Long + Income HOOD ETF (HOOI).

HOOY and HOOI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HOOY is an actively managed fund by YieldMax. It was launched on May 7, 2025. HOOI is an actively managed fund by Defiance. It was launched on Aug 18, 2025.

Performance

HOOY vs. HOOI - Performance Comparison

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

HOOY vs. HOOI - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-30.55%	-1.85%
HOOI Defiance Leveraged Long + Income HOOD ETF	-10.33%	-14.45%

Returns By Period

In the year-to-date period, HOOY achieves a -30.55% return, which is significantly lower than HOOI's -10.33% return.

HOOY

• 1D: 1.58%
• 1M: -5.12%
• YTD: -30.55%
• 6M: -44.01%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOI

• 1D: 0.00%
• 1M: 0.00%
• YTD: -10.33%
• 6M: -49.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOY vs. HOOI - Expense Ratio Comparison

HOOY has a 0.99% expense ratio, which is lower than HOOI's 1.51% expense ratio.

HOOI

Defiance Leveraged Long + Income HOOD ETF

HOOY

YieldMax HOOD Option Income Strategy ETF

Return for Risk

HOOY vs. HOOI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax HOOD Option Income Strategy ETF (HOOY) and Defiance Leveraged Long + Income HOOD ETF (HOOI). 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.

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

Sharpe Ratios by Period

	HOOY	HOOI	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	-0.37	+0.68

Correlation

The correlation between HOOY and HOOI is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HOOY vs. HOOI - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 158.59%, more than HOOI's 52.10% yield.

	TTM	2025
HOOY YieldMax HOOD Option Income Strategy ETF	158.59%	82.87%
HOOI Defiance Leveraged Long + Income HOOD ETF	52.10%	41.26%

Drawdowns

HOOY vs. HOOI - Drawdown Comparison

The maximum HOOY drawdown since its inception was -51.54%, smaller than the maximum HOOI drawdown of -58.34%. Use the drawdown chart below to compare losses from any high point for HOOY and HOOI.

Drawdown Indicators

	HOOY	HOOI	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-58.34%	+6.80%
Current Drawdown Current decline from peak	-48.25%	-57.31%	+9.06%
Average Drawdown Average peak-to-trough decline	-15.91%	-34.40%	+18.49%

Volatility

Volatility by Period

	HOOY	HOOI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	53.30%	101.01%	-47.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.30%	101.01%	-47.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.30%	101.01%	-47.71%