ICLN vs. ULTY

Last updated Jun 16, 2026

ICLN (iShares Global Clean Energy ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both exchange-traded funds - ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index, while ULTY is a Derivative Income fund actively managed by YieldMax. ICLN is passively managed, while ULTY is actively managed. Over the past year, ICLN returned 61.48% vs 7.83% for ULTY. At a 0.48 correlation, their price movements are largely independent. ICLN charges 0.39%/yr vs 1.14%/yr for ULTY.

Performance

ICLN vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Clean Energy ETF (ICLN) and YieldMax Ultra Option Income Strategy ETF (ULTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICLN achieves a 28.34% return, which is significantly higher than ULTY's 11.58% return.

ICLN

• 1D: 0.80%
• 1M: -3.23%
• YTD: 28.34%
• 6M: 28.17%
• 1Y: 61.48%
• 3Y*: 5.46%
• 5Y*: -0.17%
• 10Y*: 11.52%

ULTY

• 1D: 2.56%
• 1M: 3.18%
• YTD: 11.58%
• 6M: 13.08%
• 1Y: 7.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICLN vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ICLN iShares Global Clean Energy ETF	28.34%	47.05%	-15.45%
ULTY YieldMax Ultra Option Income Strategy ETF	11.58%	-0.84%	-4.73%

Correlation

The correlation between ICLN and ULTY is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.48

The correlation between ICLN and ULTY shifts across timeframes, from 0.48 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.

ICLN vs. ULTY - Sectors Allocation Comparison

Sectors	ICLN	ULTY
Utilities	35.4%	-
Industrials	26.2%	10.6%
Energy	24.9%	-
Technology	10.8%	52.3%
Basic Materials	1.3%	12.0%
Consumer Cyclical	0.1%	6.6%
Communication Services	-	7.6%
Consumer Defensive	-	0.0%
Financial Services	-	9.8%
Healthcare	-	1.1%
Real Estate	-	-

Return for Risk

ICLN vs. ULTY — Risk / Return Rank

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

ICLN

ICLN Risk / Return Rank: 73
ICLN Sharpe Ratio Rank: 77
ICLN Sortino Ratio Rank: 67
ICLN Omega Ratio Rank: 64
ICLN Calmar Ratio Rank: 80
ICLN Martin Ratio Rank: 79

ULTY

ULTY Risk / Return Rank: 14
ULTY Sharpe Ratio Rank: 15
ULTY Sortino Ratio Rank: 14
ULTY Omega Ratio Rank: 14
ULTY Calmar Ratio Rank: 13
ULTY Martin Ratio Rank: 12

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.

ICLN vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Clean Energy ETF (ICLN) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.

	ICLN	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	2.19	0.36	+1.83
Sortino ratio: Return per unit of downside risk	2.75	0.62	+2.14
Omega ratio: Gain probability vs. loss probability	1.35	1.08	+0.27
Calmar ratio: Return relative to maximum drawdown	3.77	0.33	+3.45
Martin ratio: Return relative to average drawdown	13.82	0.63	+13.19

ICLN vs. ULTY - Sharpe Ratio Comparison

The current ICLN Sharpe Ratio is 2.19, which is higher than the ULTY Sharpe Ratio of 0.36. The chart below compares the historical Sharpe Ratios of ICLN and ULTY, 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

ICLN vs. ULTY - Drawdown Comparison

The maximum ICLN drawdown since its inception was -87.15%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for ICLN and ULTY.

Drawdown Indicators

	ICLN	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-87.15%	-26.85%	-60.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.38%	-24.16%	+7.78%
Max Drawdown (3Y) Largest decline over 3 years	-43.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-57.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-66.75%	—	—
Current Drawdown Current decline from peak	-42.58%	-8.51%	-34.07%
Average Drawdown Average peak-to-trough decline	-66.55%	-9.89%	-56.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	12.48%	-8.02%

Volatility

ICLN vs. ULTY - Volatility Comparison

iShares Global Clean Energy ETF (ICLN) has a higher volatility of 12.94% compared to YieldMax Ultra Option Income Strategy ETF (ULTY) at 8.42%. This indicates that ICLN's price experiences larger fluctuations and is considered to be riskier than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICLN	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.94%	8.42%	+4.52%
Volatility (6M) Calculated over the trailing 6-month period	22.57%	16.58%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	28.28%	21.69%	+6.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.55%	27.35%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.33%	27.35%	-0.02%

ICLN vs. ULTY - Expense Ratio Comparison

ICLN has a 0.39% expense ratio, which is lower than ULTY's 1.14% expense ratio.

Dividends

ICLN vs. ULTY - Dividend Comparison

ICLN's dividend yield for the trailing twelve months is around 1.54%, less than ULTY's 110.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICLN iShares Global Clean Energy ETF	1.54%	1.63%	1.85%	1.59%	0.89%	1.18%	0.34%	1.36%	2.77%	2.49%	3.88%	2.36%
ULTY YieldMax Ultra Option Income Strategy ETF	110.56%	142.99%	111.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICLN and ULTY in my portfolio?

ICLN and ULTY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICLN or ULTY?

ICLN has higher volatility (12.94%) compared to ULTY (8.42%). In terms of maximum drawdown, ICLN dropped -87.15% vs ULTY's -26.85%.

Which ETF is better, ICLN or ULTY?

On 1-year performance, ICLN leads with 61.48% vs 7.83% for ULTY. On fees, ICLN is cheaper at 0.39% per year. On volatility, ULTY has been the lower-risk option at 8.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICLN or ULTY?

Over the 1-year period, ICLN has performed better with a 61.48% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICLN or ULTY?

ICLN is cheaper with a 0.39% expense ratio, compared with 1.14% for ULTY.

Which ETF pays a higher dividend yield, ICLN or ULTY?

ULTY has the higher dividend yield at 110.56%, compared with 1.54% for ICLN.

What is the main difference between ICLN and ULTY?

ICLN is categorized as Alternative Energy Equities, while ULTY is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.39% for ICLN and 1.14% for ULTY.

Which has better risk-adjusted returns?

ICLN currently has the higher Sharpe Ratio (2.19 vs 0.36), 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.