HOOY vs. PYPY

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax HOOD Option Income Strategy ETF (HOOY) and Yieldmax PYPL Option Income Strategy ETF (PYPY).

HOOY and PYPY 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. PYPY is an actively managed fund by YieldMax. It was launched on Sep 25, 2023.

Performance

HOOY vs. PYPY - Performance Comparison

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

HOOY vs. PYPY - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-30.55%	64.95%
PYPY Yieldmax PYPL Option Income Strategy ETF	-21.27%	-18.36%

Returns By Period

In the year-to-date period, HOOY achieves a -30.55% return, which is significantly lower than PYPY's -21.27% return.

HOOY

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

PYPY

• 1D: -0.34%
• 1M: 0.24%
• YTD: -21.27%
• 6M: -31.57%
• 1Y: -32.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HOOY vs. PYPY - Expense Ratio Comparison

HOOY has a 0.99% expense ratio, which is lower than PYPY's 1.01% expense ratio.

PYPY

Yieldmax PYPL Option Income Strategy ETF

HOOY

YieldMax HOOD Option Income Strategy ETF

Return for Risk

HOOY vs. PYPY — Risk / Return Rank

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

PYPY

PYPY Risk / Return Rank: 1
PYPY Sharpe Ratio Rank: 1
PYPY Sortino Ratio Rank: 1
PYPY Omega Ratio Rank: 1
PYPY Calmar Ratio Rank: 2
PYPY Martin Ratio Rank: 1

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. PYPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax HOOD Option Income Strategy ETF (HOOY) and Yieldmax PYPL Option Income Strategy ETF (PYPY). 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	PYPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	-0.22	+0.52

Correlation

The correlation between HOOY and PYPY is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HOOY vs. PYPY - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 158.59%, more than PYPY's 77.04% yield.

	TTM	2025	2024	2023
HOOY YieldMax HOOD Option Income Strategy ETF	158.59%	82.87%	0.00%	0.00%
PYPY Yieldmax PYPL Option Income Strategy ETF	77.04%	64.68%	48.65%	5.70%

Drawdowns

HOOY vs. PYPY - Drawdown Comparison

The maximum HOOY drawdown since its inception was -51.54%, roughly equal to the maximum PYPY drawdown of -53.64%. Use the drawdown chart below to compare losses from any high point for HOOY and PYPY.

Drawdown Indicators

	HOOY	PYPY	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-53.64%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-47.14%	—
Current Drawdown Current decline from peak	-48.25%	-47.84%	-0.41%
Average Drawdown Average peak-to-trough decline	-15.91%	-14.15%	-1.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	21.41%	—

Volatility

Volatility by Period

	HOOY	PYPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.45%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.16%	—
Volatility (1Y) Calculated over the trailing 1-year period	53.30%	35.97%	+17.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.30%	31.46%	+21.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.30%	31.46%	+21.84%