HOOY vs. HOOI

Last updated Jun 4, 2026

HOOY (YieldMax HOOD Option Income Strategy ETF) and HOOI (Defiance Leveraged Long + Income HOOD ETF) are both exchange-traded funds - HOOY is a Derivative Income fund actively managed by YieldMax, while HOOI is a Leveraged Equities fund actively managed by Defiance. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. HOOY charges 0.99%/yr vs 1.51%/yr for HOOI.

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.

Returns By Period

In the year-to-date period, HOOY achieves a -20.00% return, which is significantly lower than HOOI's -10.33% return.

HOOY

• 1D: -4.94%
• 1M: 7.42%
• YTD: -20.00%
• 6M: -29.79%
• 1Y: 9.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOI

• 1D: 0.00%
• 1M: 0.00%
• YTD: -10.33%
• 6M: -33.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOY vs. HOOI - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-20.00%	-1.85%
HOOI Defiance Leveraged Long + Income HOOD ETF	-10.33%	-14.45%

Correlation

The correlation between HOOY and HOOI is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 20, 2025	0.65

Return for Risk

HOOY vs. HOOI — Risk / Return Rank

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

HOOY

HOOY Risk / Return Rank: 12
HOOY Sharpe Ratio Rank: 11
HOOY Sortino Ratio Rank: 13
HOOY Omega Ratio Rank: 14
HOOY Calmar Ratio Rank: 11
HOOY Martin Ratio Rank: 10

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.

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.

	HOOY	HOOI	Difference
Sharpe ratio: Return per unit of total volatility	0.16	—	—
Sortino ratio: Return per unit of downside risk	0.62	—	—
Omega ratio: Gain probability vs. loss probability	1.08	—	—
Calmar ratio: Return relative to maximum drawdown	0.18	—	—
Martin ratio: Return relative to average drawdown	0.32	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HOOY	HOOI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	-0.34	+0.89

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%
Max Drawdown (1Y) Largest decline over 1 year	-51.54%	—	—
Current Drawdown Current decline from peak	-40.38%	-57.31%	+16.93%
Average Drawdown Average peak-to-trough decline	-20.18%	-39.57%	+19.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	28.24%	—	—

Volatility

Volatility by Period

	HOOY	HOOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	41.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	55.33%	88.80%	-33.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.48%	88.80%	-34.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.48%	88.80%	-34.32%

HOOY vs. HOOI - Expense Ratio Comparison

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

Dividends

HOOY vs. HOOI - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 160.00%, more than HOOI's 52.10% yield.

Position	TTM	2025
HOOI Defiance Leveraged Long + Income HOOD ETF	52.10%	41.26%
HOOY YieldMax HOOD Option Income Strategy ETF	160.00%	82.87%

Frequently Asked Questions

Can I hold both HOOY and HOOI in my portfolio?

HOOY and HOOI have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOOY or HOOI?

On fees, HOOY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOOY or HOOI?

HOOY is cheaper with a 0.99% expense ratio, compared with 1.51% for HOOI.

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

HOOY has the higher dividend yield at 160.00%, compared with 52.10% for HOOI.

What is the main difference between HOOY and HOOI?

HOOY is categorized as Derivative Income, while HOOI is Leveraged Equities. They also come from different issuers: YieldMax and Defiance. Their fees differ too: 0.99% for HOOY and 1.51% for HOOI.