HYGW vs. DISO
HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) and DISO (YieldMax DIS Option Income Strategy ETF) are both exchange-traded funds - HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index, while DISO is a Derivative Income fund actively managed by YieldMax. HYGW is passively managed, while DISO is actively managed. Over the past year, HYGW returned 6.29% vs -9.96% for DISO. At a 0.27 correlation, their price movements are largely independent. HYGW charges 0.69%/yr vs 1.01%/yr for DISO.
Performance
HYGW vs. DISO - Performance Comparison
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Returns By Period
In the year-to-date period, HYGW achieves a 2.50% return, which is significantly higher than DISO's -10.18% return.
HYGW
- 1D
- -0.07%
- 1M
- 0.46%
- 6M
- 2.23%
- YTD
- 2.50%
- 1Y
- 6.29%
- 3Y*
- 5.41%
- 5Y*
- —
- 10Y*
- —
DISO
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- -10.53%
- YTD
- -10.18%
- 1Y
- -9.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYGW vs. DISO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.50% | 6.19% | 6.99% | 1.22% |
DISO YieldMax DIS Option Income Strategy ETF | -10.18% | 2.12% | 14.56% | 9.17% |
Correlation
The correlation between HYGW and DISO is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.27 |
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Return for Risk
HYGW vs. DISO — Risk / Return Rank
HYGW
DISO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW vs. DISO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) and YieldMax DIS Option Income Strategy ETF (DISO). 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.
| HYGW | DISO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.64 | ||
| Sortino ratioReturn per unit of downside risk | +3.70 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 0.94 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | -0.50 | +3.98 |
| Martin ratioReturn relative to average drawdown | 15.81 | -1.08 | +16.89 |
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Drawdowns
HYGW vs. DISO - Drawdown Comparison
The maximum HYGW drawdown since its inception was -5.49%, smaller than the maximum DISO drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for HYGW and DISO.
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Drawdown Indicators
| HYGW | DISO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.49% | -26.62% | +21.13% |
Max Drawdown (1Y)Largest decline over 1 year | -1.82% | -17.19% | +15.37% |
Max Drawdown (3Y)Largest decline over 3 years | -3.66% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -12.68% | +12.61% |
Average DrawdownAverage peak-to-trough decline | -0.60% | -7.74% | +7.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 8.38% | -7.98% |
Volatility
HYGW vs. DISO - Volatility Comparison
The current volatility for iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) is 0.70%, while YieldMax DIS Option Income Strategy ETF (DISO) has a volatility of 3.29%. This indicates that HYGW experiences smaller price fluctuations and is considered to be less risky than DISO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYGW | DISO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 3.29% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 15.73% | -13.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.89% | 20.06% | -17.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 21.36% | -16.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.63% | 21.36% | -16.73% |
HYGW vs. DISO - Expense Ratio Comparison
HYGW has a 0.69% expense ratio, which is lower than DISO's 1.01% expense ratio.
Dividends
HYGW vs. DISO - Dividend Comparison
HYGW's dividend yield for the trailing twelve months is around 10.69%, while DISO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DISO YieldMax DIS Option Income Strategy ETF | 35.76% | 38.87% | 37.33% | 6.87% | 0.00% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.69% | 12.53% | 12.30% | 15.98% | 8.71% |
Frequently Asked Questions
HYGW and DISO have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DISO has higher volatility (3.29%) compared to HYGW (0.70%). In terms of maximum drawdown, HYGW dropped -5.49% vs DISO's -26.62%.
On 1-year performance, HYGW leads with 6.29% vs -9.96% for DISO. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYGW has performed better with a 6.29% return vs -9.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGW is cheaper with a 0.69% expense ratio, compared with 1.01% for DISO.
DISO has the higher dividend yield at 35.76%, compared with 10.69% for HYGW.
HYGW is categorized as High Yield Bonds, while DISO is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.69% for HYGW and 1.01% for DISO.
HYGW currently has the higher Sharpe Ratio (2.19 vs -0.45), 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.
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