HOYY vs. OPER

Last updated Jun 4, 2026

HOYY (GraniteShares YieldBOOST HOOD ETF) and OPER (ClearShares Ultra-Short Maturity ETF) are both exchange-traded funds - HOYY is a Derivative Income fund actively managed by GraniteShares, while OPER is a Ultrashort Bond fund tracking the ICE BofA U.S. Broad Market Index. HOYY is actively managed, while OPER is passively managed. At a correlation of -0.10, they often move in opposite directions. HOYY charges 1.07%/yr vs 0.20%/yr for OPER.

Performance

HOYY vs. OPER - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST HOOD ETF (HOYY) and ClearShares Ultra-Short Maturity ETF (OPER). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOYY achieves a -29.50% return, which is significantly lower than OPER's 1.55% return.

HOYY

• 1D: -0.42%
• 1M: 0.36%
• YTD: -29.50%
• 6M: -37.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OPER

• 1D: 0.01%
• 1M: 0.34%
• YTD: 1.55%
• 6M: 1.88%
• 1Y: 4.07%
• 3Y*: 4.80%
• 5Y*: 3.65%
• 10Y*: —

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

HOYY vs. OPER - Yearly Performance Comparison

	2026 (YTD)	2025
HOYY GraniteShares YieldBOOST HOOD ETF	-29.50%	-24.36%
OPER ClearShares Ultra-Short Maturity ETF	1.55%	1.05%

Correlation

The correlation between HOYY and OPER is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	-0.10

Return for Risk

HOYY vs. OPER — Risk / Return Rank

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

OPER

OPER Risk / Return Rank: 100
OPER Sharpe Ratio Rank: 100
OPER Sortino Ratio Rank: 100
OPER Omega Ratio Rank: 100
OPER Calmar Ratio Rank: 100
OPER Martin Ratio Rank: 100

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.

HOYY vs. OPER - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST HOOD ETF (HOYY) and ClearShares Ultra-Short Maturity ETF (OPER). 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

	HOYY	OPER	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	15.45	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	11.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.65	2.28	-3.93

Drawdowns

HOYY vs. OPER - Drawdown Comparison

The maximum HOYY drawdown since its inception was -51.54%, which is greater than OPER's maximum drawdown of -2.33%. Use the drawdown chart below to compare losses from any high point for HOYY and OPER.

Drawdown Indicators

	HOYY	OPER	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-2.33%	-49.21%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.07%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.11%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.13%	—
Current Drawdown Current decline from peak	-49.50%	0.00%	-49.50%
Average Drawdown Average peak-to-trough decline	-32.56%	-0.16%	-32.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	HOYY	OPER	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.10%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	37.03%	0.26%	+36.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.03%	0.32%	+36.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.03%	1.23%	+35.80%

HOYY vs. OPER - Expense Ratio Comparison

HOYY has a 1.07% expense ratio, which is higher than OPER's 0.20% expense ratio.

Dividends

HOYY vs. OPER - Dividend Comparison

HOYY's dividend yield for the trailing twelve months is around 187.33%, more than OPER's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HOYY GraniteShares YieldBOOST HOOD ETF	187.33%	50.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OPER ClearShares Ultra-Short Maturity ETF	4.09%	4.32%	5.21%	5.03%	1.71%	0.36%	0.64%	2.08%	0.89%

Frequently Asked Questions

Can I hold both HOYY and OPER in my portfolio?

HOYY and OPER have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HOYY or OPER?

On fees, OPER is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HOYY or OPER?

OPER is cheaper with a 0.20% expense ratio, compared with 1.07% for HOYY.

Which ETF pays a higher dividend yield, HOYY or OPER?

HOYY has the higher dividend yield at 187.33%, compared with 4.09% for OPER.

What is the main difference between HOYY and OPER?

HOYY is categorized as Derivative Income, while OPER is Ultrashort Bond. They also come from different issuers: GraniteShares and ClearShares. Their fees differ too: 1.07% for HOYY and 0.20% for OPER.