IOYY vs. TCAL

Last updated Jun 25, 2026

IOYY (GraniteShares YieldBOOST IONQ ETF) and TCAL (T. Rowe Price Capital Appreciation Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a 0.10 correlation, their price movements are largely independent. IOYY charges 1.07%/yr vs 0.34%/yr for TCAL.

Performance

IOYY vs. TCAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST IONQ ETF (IOYY) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOYY achieves a -13.00% return, which is significantly lower than TCAL's -1.08% return.

IOYY

• 1D: -1.15%
• 1M: -0.58%
• YTD: -13.00%
• 6M: -19.68%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCAL

• 1D: 0.57%
• 1M: -0.13%
• YTD: -1.08%
• 6M: -2.03%
• 1Y: 0.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IOYY vs. TCAL - Yearly Performance Comparison

	2026 (YTD)	2025
IOYY GraniteShares YieldBOOST IONQ ETF	-13.00%	-13.50%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	-1.08%	1.57%

Correlation

The correlation between IOYY and TCAL is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 4, 2025	0.10

Return for Risk

IOYY vs. TCAL — Risk / Return Rank

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

IOYY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TCAL

TCAL Risk / Return Rank: 9
TCAL Sharpe Ratio Rank: 10
TCAL Sortino Ratio Rank: 9
TCAL Omega Ratio Rank: 9
TCAL Calmar Ratio Rank: 10
TCAL Martin Ratio Rank: 10

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.

IOYY vs. TCAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST IONQ ETF (IOYY) and T. Rowe Price Capital Appreciation Premium Income ETF (TCAL). 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.

	IOYY	TCAL	Difference
Sharpe ratio: Return per unit of total volatility	—	0.04	—
Sortino ratio: Return per unit of downside risk	—	0.13	—
Omega ratio: Gain probability vs. loss probability	—	1.01	—
Calmar ratio: Return relative to maximum drawdown	—	0.06	—
Martin ratio: Return relative to average drawdown	—	0.14	—

Drawdowns

IOYY vs. TCAL - Drawdown Comparison

The maximum IOYY drawdown since its inception was -38.47%, which is greater than TCAL's maximum drawdown of -7.24%. Use the drawdown chart below to compare losses from any high point for IOYY and TCAL.

Drawdown Indicators

	IOYY	TCAL	Difference
Max Drawdown Largest peak-to-trough decline	-38.47%	-7.24%	-31.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.00%	—
Current Drawdown Current decline from peak	-29.44%	-4.17%	-25.27%
Average Drawdown Average peak-to-trough decline	-23.50%	-2.13%	-21.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.88%	—

Volatility

Volatility by Period

	IOYY	TCAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	33.24%	9.54%	+23.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.24%	11.25%	+21.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.24%	11.25%	+21.99%

IOYY vs. TCAL - Expense Ratio Comparison

IOYY has a 1.07% expense ratio, which is higher than TCAL's 0.34% expense ratio.

Dividends

IOYY vs. TCAL - Dividend Comparison

IOYY's dividend yield for the trailing twelve months is around 137.24%, more than TCAL's 11.74% yield.

Position	TTM	2025
IOYY GraniteShares YieldBOOST IONQ ETF	137.24%	28.55%
TCAL T. Rowe Price Capital Appreciation Premium Income ETF	11.74%	8.34%

Frequently Asked Questions

Can I hold both IOYY and TCAL in my portfolio?

IOYY and TCAL 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, IOYY or TCAL?

On fees, TCAL is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IOYY or TCAL?

TCAL is cheaper with a 0.34% expense ratio, compared with 1.07% for IOYY.

Which ETF pays a higher dividend yield, IOYY or TCAL?

IOYY has the higher dividend yield at 137.24%, compared with 11.74% for TCAL.

What is the main difference between IOYY and TCAL?

They also come from different issuers: GraniteShares and T. Rowe Price. Their fees differ too: 1.07% for IOYY and 0.34% for TCAL.