ITWO vs. GOOY

Last updated Jun 5, 2026

ITWO (Proshares Russell 2000 High Income ETF) and GOOY (YieldMax GOOGL Option Income Strategy ETF) are both Derivative Income funds. ITWO is passively managed, while GOOY is actively managed. Over the past year, ITWO returned 41.29% vs 92.21% for GOOY. At a 0.45 correlation, their price movements are largely independent. ITWO charges 0.55%/yr vs 0.99%/yr for GOOY.

Performance

ITWO vs. GOOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Russell 2000 High Income ETF (ITWO) and YieldMax GOOGL Option Income Strategy ETF (GOOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITWO achieves a 19.23% return, which is significantly higher than GOOY's 17.06% return.

ITWO

• 1D: 1.46%
• 1M: 3.76%
• YTD: 19.23%
• 6M: 17.25%
• 1Y: 41.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GOOY

• 1D: 3.03%
• 1M: -3.35%
• YTD: 17.06%
• 6M: 15.49%
• 1Y: 92.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ITWO vs. GOOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ITWO Proshares Russell 2000 High Income ETF	19.23%	14.25%	3.68%
GOOY YieldMax GOOGL Option Income Strategy ETF	17.06%	53.95%	10.14%

Correlation

The correlation between ITWO and GOOY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.45

Return for Risk

ITWO vs. GOOY — Risk / Return Rank

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

ITWO

ITWO Risk / Return Rank: 70
ITWO Sharpe Ratio Rank: 69
ITWO Sortino Ratio Rank: 66
ITWO Omega Ratio Rank: 59
ITWO Calmar Ratio Rank: 82
ITWO Martin Ratio Rank: 76

GOOY

GOOY Risk / Return Rank: 93
GOOY Sharpe Ratio Rank: 95
GOOY Sortino Ratio Rank: 95
GOOY Omega Ratio Rank: 94
GOOY Calmar Ratio Rank: 91
GOOY Martin Ratio Rank: 91

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.

ITWO vs. GOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Russell 2000 High Income ETF (ITWO) and YieldMax GOOGL Option Income Strategy ETF (GOOY). 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.

	ITWO	GOOY	Difference
Sharpe ratio: Return per unit of total volatility	2.23	3.98	-1.75
Sortino ratio: Return per unit of downside risk	3.00	5.27	-2.27
Omega ratio: Gain probability vs. loss probability	1.36	1.67	-0.31
Calmar ratio: Return relative to maximum drawdown	4.24	5.74	-1.51
Martin ratio: Return relative to average drawdown	14.28	21.94	-7.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITWO vs. GOOY - Sharpe Ratio Comparison

The current ITWO Sharpe Ratio is 2.23, which is lower than the GOOY Sharpe Ratio of 3.98. The chart below compares the historical Sharpe Ratios of ITWO and GOOY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ITWO	GOOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	3.98	-1.75
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	1.14	-0.06

Drawdowns

ITWO vs. GOOY - Drawdown Comparison

The maximum ITWO drawdown since its inception was -24.77%, roughly equal to the maximum GOOY drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for ITWO and GOOY.

Drawdown Indicators

	ITWO	GOOY	Difference
Max Drawdown Largest peak-to-trough decline	-24.77%	-24.40%	-0.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-16.15%	+6.36%
Current Drawdown Current decline from peak	0.00%	-5.84%	+5.84%
Average Drawdown Average peak-to-trough decline	-5.14%	-6.26%	+1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	4.22%	-1.32%

Volatility

ITWO vs. GOOY - Volatility Comparison

The current volatility for Proshares Russell 2000 High Income ETF (ITWO) is 5.81%, while YieldMax GOOGL Option Income Strategy ETF (GOOY) has a volatility of 7.52%. This indicates that ITWO experiences smaller price fluctuations and is considered to be less risky than GOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITWO	GOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	7.52%	-1.71%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	17.43%	-4.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	23.28%	-4.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	23.36%	-2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	23.36%	-2.88%

ITWO vs. GOOY - Expense Ratio Comparison

ITWO has a 0.55% expense ratio, which is lower than GOOY's 0.99% expense ratio.

Dividends

ITWO vs. GOOY - Dividend Comparison

ITWO's dividend yield for the trailing twelve months is around 7.47%, less than GOOY's 50.39% yield.

Position	TTM	2025	2024	2023
GOOY YieldMax GOOGL Option Income Strategy ETF	50.39%	41.50%	36.74%	7.90%
ITWO Proshares Russell 2000 High Income ETF	7.47%	12.12%	4.11%	0.00%

Frequently Asked Questions

Can I hold both ITWO and GOOY in my portfolio?

ITWO and GOOY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITWO or GOOY?

GOOY has higher volatility (7.52%) compared to ITWO (5.81%). In terms of maximum drawdown, ITWO dropped -24.77% vs GOOY's -24.40%.

Which ETF is better, ITWO or GOOY?

On 1-year performance, GOOY leads with 92.21% vs 41.29% for ITWO. On fees, ITWO is cheaper at 0.55% per year. On volatility, ITWO has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITWO or GOOY?

Over the 1-year period, GOOY has performed better with a 92.21% return vs 41.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITWO or GOOY?

ITWO is cheaper with a 0.55% expense ratio, compared with 0.99% for GOOY.

Which ETF pays a higher dividend yield, ITWO or GOOY?

GOOY has the higher dividend yield at 50.39%, compared with 7.47% for ITWO.

What is the main difference between ITWO and GOOY?

They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.55% for ITWO and 0.99% for GOOY.

Which has better risk-adjusted returns?

GOOY currently has the higher Sharpe Ratio (3.98 vs 2.23), 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.