ITA vs. ULTY

Last updated Jun 13, 2026

ITA (iShares U.S. Aerospace & Defense ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both exchange-traded funds - ITA is a Aerospace & Defense fund tracking the Dow Jones U.S. Select Aerospace & Defense Index, while ULTY is a Derivative Income fund actively managed by YieldMax. ITA is passively managed, while ULTY is actively managed. Over the past year, ITA returned 30.96% vs 3.61% for ULTY. At a 0.50 correlation, their price movements are largely independent. ITA charges 0.38%/yr vs 1.14%/yr for ULTY.

Performance

ITA vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Aerospace & Defense ETF (ITA) and YieldMax Ultra Option Income Strategy ETF (ULTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ITA having a 8.97% return and ULTY slightly lower at 8.80%.

ITA

• 1D: -0.95%
• 1M: 3.58%
• YTD: 8.97%
• 6M: 11.71%
• 1Y: 30.96%
• 3Y*: 27.30%
• 5Y*: 16.86%
• 10Y*: 15.34%

ULTY

• 1D: 1.04%
• 1M: -0.81%
• YTD: 8.80%
• 6M: 8.04%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ITA vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ITA iShares U.S. Aerospace & Defense ETF	8.97%	48.64%	14.43%
ULTY YieldMax Ultra Option Income Strategy ETF	8.80%	-0.84%	-4.73%

Correlation

The correlation between ITA and ULTY is 0.50, 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	0.50
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.50

The correlation between ITA and ULTY has been stable across timeframes, ranging from 0.50 to 0.50 - a consistent structural relationship.

ITA vs. ULTY - Sectors Allocation Comparison

Sectors	ITA	ULTY
Industrials	99.8%	9.3%
Technology	0.1%	54.6%
Basic Materials	-	11.7%
Communication Services	-	8.9%
Consumer Cyclical	-	5.2%
Consumer Defensive	-	0.0%
Energy	-	-
Financial Services	-	8.6%
Healthcare	-	1.8%
Real Estate	-	-
Utilities	-	-

Return for Risk

ITA vs. ULTY — Risk / Return Rank

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

ITA

ITA Risk / Return Rank: 44
ITA Sharpe Ratio Rank: 47
ITA Sortino Ratio Rank: 48
ITA Omega Ratio Rank: 43
ITA Calmar Ratio Rank: 45
ITA Martin Ratio Rank: 38

ULTY

ULTY Risk / Return Rank: 12
ULTY Sharpe Ratio Rank: 12
ULTY Sortino Ratio Rank: 12
ULTY Omega Ratio Rank: 12
ULTY Calmar Ratio Rank: 11
ULTY Martin Ratio Rank: 11

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.

ITA vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense ETF (ITA) 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.

	ITA	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	1.43	0.17	+1.26
Sortino ratio: Return per unit of downside risk	2.11	0.36	+1.74
Omega ratio: Gain probability vs. loss probability	1.25	1.05	+0.20
Calmar ratio: Return relative to maximum drawdown	1.97	0.15	+1.82
Martin ratio: Return relative to average drawdown	5.20	0.29	+4.91

ITA vs. ULTY - Sharpe Ratio Comparison

The current ITA Sharpe Ratio is 1.43, which is higher than the ULTY Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of ITA 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

ITA vs. ULTY - Drawdown Comparison

The maximum ITA drawdown since its inception was -59.72%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for ITA and ULTY.

Drawdown Indicators

	ITA	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-59.72%	-26.85%	-32.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.82%	-24.16%	+8.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.00%	—	—
Current Drawdown Current decline from peak	-6.64%	-10.79%	+4.15%
Average Drawdown Average peak-to-trough decline	-9.45%	-9.90%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.97%	12.47%	-6.50%

Volatility

ITA vs. ULTY - Volatility Comparison

iShares U.S. Aerospace & Defense ETF (ITA) has a higher volatility of 9.07% compared to YieldMax Ultra Option Income Strategy ETF (ULTY) at 8.04%. This indicates that ITA'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

	ITA	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	8.04%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	18.47%	16.40%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	21.74%	21.55%	+0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	27.32%	-7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.22%	27.32%	-4.10%

ITA vs. ULTY - Expense Ratio Comparison

ITA has a 0.38% expense ratio, which is lower than ULTY's 1.14% expense ratio.

Dividends

ITA vs. ULTY - Dividend Comparison

ITA's dividend yield for the trailing twelve months is around 0.46%, less than ULTY's 113.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITA iShares U.S. Aerospace & Defense ETF	0.46%	0.55%	0.85%	0.93%	0.95%	0.82%	1.07%	1.54%	1.13%	0.91%	1.07%	1.04%
ULTY YieldMax Ultra Option Income Strategy ETF	113.38%	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 ITA and ULTY in my portfolio?

ITA and ULTY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITA or ULTY?

ITA has higher volatility (9.07%) compared to ULTY (8.04%). In terms of maximum drawdown, ITA dropped -59.72% vs ULTY's -26.85%.

Which ETF is better, ITA or ULTY?

On 1-year performance, ITA leads with 30.96% vs 3.61% for ULTY. On fees, ITA is cheaper at 0.38% per year. On volatility, ULTY has been the lower-risk option at 8.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITA or ULTY?

Over the 1-year period, ITA has performed better with a 30.96% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITA or ULTY?

ITA is cheaper with a 0.38% expense ratio, compared with 1.14% for ULTY.

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

ULTY has the higher dividend yield at 113.38%, compared with 0.46% for ITA.

What is the main difference between ITA and ULTY?

ITA is categorized as Aerospace & Defense, while ULTY is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.38% for ITA and 1.14% for ULTY.

Which has better risk-adjusted returns?

ITA currently has the higher Sharpe Ratio (1.43 vs 0.17), 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.