IIPR vs. ULTY
IIPR (Innovative Industrial Properties, Inc.) is a stock, while ULTY (YieldMax Ultra Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax. Over the past year, IIPR returned 23.77% vs 4.18% for ULTY. At a 0.33 correlation, their price movements are largely independent.
Performance
IIPR vs. ULTY - Performance Comparison
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Returns By Period
In the year-to-date period, IIPR achieves a 29.84% return, which is significantly higher than ULTY's 7.39% return.
IIPR
- 1D
- 1.08%
- 1M
- 3.32%
- YTD
- 29.84%
- 6M
- 28.01%
- 1Y
- 23.77%
- 3Y*
- 4.89%
- 5Y*
- -13.70%
- 10Y*
- —
ULTY
- 1D
- 0.94%
- 1M
- -1.19%
- YTD
- 7.39%
- 6M
- 5.32%
- 1Y
- 4.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IIPR vs. ULTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 29.84% | -18.40% | -26.12% |
ULTY YieldMax Ultra Option Income Strategy ETF | 7.39% | -0.84% | -4.73% |
Correlation
The correlation between IIPR and ULTY is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | 0.33 |
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Return for Risk
IIPR vs. ULTY — Risk / Return Rank
IIPR
ULTY
IIPR vs. ULTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovative Industrial Properties, Inc. (IIPR) 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.
| IIPR | ULTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.05 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 0.17 | +0.95 |
| Martin ratioReturn relative to average drawdown | 2.73 | 0.34 | +2.39 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IIPR | ULTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 0.20 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.11 | +0.29 |
Drawdowns
IIPR vs. ULTY - Drawdown Comparison
The maximum IIPR drawdown since its inception was -78.42%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for IIPR and ULTY.
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Drawdown Indicators
| IIPR | ULTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.42% | -26.85% | -51.57% |
Max Drawdown (1Y)Largest decline over 1 year | -21.29% | -24.16% | +2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -62.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -78.42% | — | — |
Current DrawdownCurrent decline from peak | -68.82% | -11.95% | -56.87% |
Average DrawdownAverage peak-to-trough decline | -37.04% | -9.38% | -27.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.72% | 12.37% | -3.65% |
Volatility
IIPR vs. ULTY - Volatility Comparison
The current volatility for Innovative Industrial Properties, Inc. (IIPR) is 5.83%, while YieldMax Ultra Option Income Strategy ETF (ULTY) has a volatility of 6.96%. This indicates that IIPR experiences smaller price fluctuations and is considered to be less risky than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIPR | ULTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 6.96% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 29.58% | 15.88% | +13.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.99% | 21.21% | +19.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 41.59% | 27.07% | +14.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.41% | 27.07% | +21.34% |
Dividends
IIPR vs. ULTY - Dividend Comparison
IIPR's dividend yield for the trailing twelve months is around 12.84%, less than ULTY's 115.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IIPR Innovative Industrial Properties, Inc. | 12.84% | 16.05% | 11.28% | 7.16% | 7.01% | 2.18% | 2.44% | 3.73% | 1.87% | 1.70% |
ULTY YieldMax Ultra Option Income Strategy ETF | 115.53% | 142.99% | 111.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IIPR and ULTY have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULTY has higher volatility (6.96%) compared to IIPR (5.83%). In terms of maximum drawdown, IIPR dropped -78.42% vs ULTY's -26.85%.
IIPR currently has the higher Sharpe Ratio (0.58 vs 0.20), 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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