MAAY vs. SPUT

Last updated Jun 24, 2026

MAAY (GraniteShares YieldBOOST MARA ETF) and SPUT (Innovator Equity Premium Income Daily PutWrite ETF) are both Derivative Income funds. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. MAAY charges 1.07%/yr vs 0.79%/yr for SPUT.

Performance

MAAY vs. SPUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST MARA ETF (MAAY) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAAY achieves a -14.29% return, which is significantly lower than SPUT's 4.74% return.

MAAY

• 1D: 0.37%
• 1M: 3.18%
• YTD: -14.29%
• 6M: -21.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPUT

• 1D: -0.70%
• 1M: -1.61%
• YTD: 4.74%
• 6M: 4.48%
• 1Y: 14.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAAY vs. SPUT - Yearly Performance Comparison

	2026 (YTD)	2025
MAAY GraniteShares YieldBOOST MARA ETF	-14.29%	-29.75%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	4.74%	1.00%

Correlation

The correlation between MAAY and SPUT is 0.39, 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	0.39

Return for Risk

MAAY vs. SPUT — Risk / Return Rank

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

MAAY

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

SPUT

SPUT Risk / Return Rank: 70
SPUT Sharpe Ratio Rank: 62
SPUT Sortino Ratio Rank: 59
SPUT Omega Ratio Rank: 69
SPUT Calmar Ratio Rank: 80
SPUT Martin Ratio Rank: 80

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.

MAAY vs. SPUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST MARA ETF (MAAY) and Innovator Equity Premium Income Daily PutWrite ETF (SPUT). 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.

	MAAY	SPUT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.90	—
Sortino ratio: Return per unit of downside risk	—	2.57	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	3.84	—
Martin ratio: Return relative to average drawdown	—	14.69	—

Drawdowns

MAAY vs. SPUT - Drawdown Comparison

The maximum MAAY drawdown since its inception was -45.92%, which is greater than SPUT's maximum drawdown of -10.55%. Use the drawdown chart below to compare losses from any high point for MAAY and SPUT.

Drawdown Indicators

	MAAY	SPUT	Difference
Max Drawdown Largest peak-to-trough decline	-45.92%	-10.55%	-35.37%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.81%	—
Current Drawdown Current decline from peak	-39.78%	-2.68%	-37.10%
Average Drawdown Average peak-to-trough decline	-32.86%	-0.94%	-31.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.99%	—

Volatility

Volatility by Period

	MAAY	SPUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.46%	7.76%	+21.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.46%	11.35%	+18.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.46%	11.35%	+18.11%

MAAY vs. SPUT - Expense Ratio Comparison

MAAY has a 1.07% expense ratio, which is higher than SPUT's 0.79% expense ratio.

Dividends

MAAY vs. SPUT - Dividend Comparison

MAAY's dividend yield for the trailing twelve months is around 142.70%, more than SPUT's 5.15% yield.

Position	TTM	2025
MAAY GraniteShares YieldBOOST MARA ETF	142.70%	31.22%
SPUT Innovator Equity Premium Income Daily PutWrite ETF	5.15%	4.66%

Frequently Asked Questions

Can I hold both MAAY and SPUT in my portfolio?

MAAY and SPUT 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 ETF is better, MAAY or SPUT?

On fees, SPUT is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MAAY or SPUT?

SPUT is cheaper with a 0.79% expense ratio, compared with 1.07% for MAAY.

Which ETF pays a higher dividend yield, MAAY or SPUT?

MAAY has the higher dividend yield at 142.70%, compared with 5.15% for SPUT.

What is the main difference between MAAY and SPUT?

They also come from different issuers: GraniteShares and Innovator. Their fees differ too: 1.07% for MAAY and 0.79% for SPUT.