HOOY vs. HOOW

Last updated Jul 31, 2026

HOOY (YieldMax HOOD Option Income Strategy ETF) and HOOW (Roundhill HOOD WeeklyPay ETF) are both exchange-traded funds - HOOY is a Derivative Income fund actively managed by YieldMax, while HOOW is a Leveraged Equities fund actively managed by Roundhill. Both are actively managed. Over the past year, HOOY returned -20.08% vs -29.77% for HOOW. Their 0.99 correlation means they have historically moved very closely together. Both charge a 0.99% expense ratio.

Performance

HOOY vs. HOOW - Performance Comparison

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

Returns By Period

In the year-to-date period, HOOY achieves a -19.64% return, which is significantly higher than HOOW's -31.68% return.

HOOY

• 1D: -3.34%
• 1M: -12.88%
• 6M: -13.19%
• YTD: -19.64%
• 1Y: -20.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.35%

HOOW

• 1D: -4.27%
• 1M: -17.10%
• 6M: -21.51%
• YTD: -31.68%
• 1Y: -29.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HOOW Roundhill HOOD WeeklyPay ETF	$4.83M	$5.59M	$5.41M
HOOY YieldMax HOOD Option Income Strategy ETF	$4.72M	$4.93M	$3.98M

HOOY vs. HOOW - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-19.64%	30.16%
HOOW Roundhill HOOD WeeklyPay ETF	-31.68%	52.60%

Correlation

The correlation between HOOY and HOOW is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.99

The correlation between HOOY and HOOW has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

HOOY vs. HOOW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HOOY

HOOY Risk / Return Rank: 7
HOOY Sharpe Ratio Rank: 7
HOOY Sortino Ratio Rank: 8
HOOY Omega Ratio Rank: 8
HOOY Calmar Ratio Rank: 6
HOOY Martin Ratio Rank: 7

HOOW

HOOW Risk / Return Rank: 8
HOOW Sharpe Ratio Rank: 7
HOOW Sortino Ratio Rank: 10
HOOW Omega Ratio Rank: 9
HOOW Calmar Ratio Rank: 6
HOOW Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HOOY vs. HOOW - Risk-Adjusted Trends Comparison

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

	HOOY	HOOW	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	-0.35	0.00
Sortino ratio: Return per unit of downside risk	-0.15	0.01	-0.16
Omega ratio: Gain probability vs. loss probability	0.98	1.00	-0.02
Calmar ratio: Return relative to maximum drawdown	-0.39	-0.45	+0.06
Martin ratio: Return relative to average drawdown	-0.65	-0.74	+0.09

HOOY vs. HOOW - Sharpe Ratio Comparison

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

HOOY vs. HOOW - Drawdown Comparison

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

Drawdown Indicators

	HOOY	HOOW	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-65.74%	+14.20%
Max Drawdown (1Y) Largest decline over 1 year	-51.54%	-65.74%	+14.20%
Current Drawdown Current decline from peak	-40.12%	-53.60%	+13.48%
Average Drawdown Average peak-to-trough decline	-21.52%	-31.07%	+9.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.85%	40.37%	-9.52%

Volatility

HOOY vs. HOOW - Volatility Comparison

The current volatility for YieldMax HOOD Option Income Strategy ETF (HOOY) is 16.47%, while Roundhill HOOD WeeklyPay ETF (HOOW) has a volatility of 23.66%. This indicates that HOOY experiences smaller price fluctuations and is considered to be less risky than HOOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOY	HOOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.47%	23.66%	-7.19%
Volatility (6M) Calculated over the trailing 6-month period	44.45%	65.51%	-21.06%
Volatility (1Y) Calculated over the trailing 1-year period	57.16%	85.04%	-27.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.66%	83.89%	-29.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.66%	83.89%	-29.23%

HOOY vs. HOOW - Expense Ratio Comparison

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

Dividends

HOOY vs. HOOW - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 149.65%, less than HOOW's 167.55% yield.

Position	TTM	2025
HOOW Roundhill HOOD WeeklyPay ETF	167.55%	67.92%
HOOY YieldMax HOOD Option Income Strategy ETF	149.65%	82.87%

Frequently Asked Questions

Can I hold both HOOY and HOOW in my portfolio?

With a correlation of 0.99, HOOY and HOOW 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, HOOY or HOOW?

HOOW has higher volatility (23.66%) compared to HOOY (16.47%). In terms of maximum drawdown, HOOY dropped -51.54% vs HOOW's -65.74%.

Which ETF is better, HOOY or HOOW?

On 1-year performance, HOOY leads with -20.08% vs -29.77% for HOOW. Both ETFs have the same 0.99% expense ratio. On volatility, HOOY has been the lower-risk option at 16.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOY or HOOW?

Over the 1-year period, HOOY has performed better with a -20.08% return vs -29.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOY or HOOW?

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

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

HOOW has the higher dividend yield at 167.55%, compared with 149.65% for HOOY.

What is the main difference between HOOY and HOOW?

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

Which has better risk-adjusted returns?

HOOW currently has the higher Sharpe Ratio (-0.35 vs -0.35), 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.