MARO vs. HPYM.TO

Last updated Jun 5, 2026

MARO (YieldMax MARA Option Income Strategy ETF) and HPYM.TO (Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units) are both exchange-traded funds - MARO is a Derivative Income fund actively managed by YieldMax, while HPYM.TO is a Government Bonds fund actively managed by Harvest. Both are actively managed. Over the past year, MARO returned -28.43% vs 0.60% for HPYM.TO. At a 0.09 correlation, their price movements are largely independent. MARO charges 0.99%/yr vs 0.45%/yr for HPYM.TO.

Performance

MARO vs. HPYM.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MARA Option Income Strategy ETF (MARO) and Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MARO is traded in USD, while HPYM.TO is traded in CAD. To make them comparable, the HPYM.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MARO achieves a 26.03% return, which is significantly higher than HPYM.TO's -2.37% return.

MARO

• 1D: -1.44%
• 1M: 8.29%
• YTD: 26.03%
• 6M: -1.03%
• 1Y: -28.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HPYM.TO

• 1D: 0.06%
• 1M: -2.22%
• YTD: -2.37%
• 6M: -0.85%
• 1Y: 0.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MARO vs. HPYM.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MARO YieldMax MARA Option Income Strategy ETF	26.03%	-48.05%	-19.61%
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units	-2.37%	11.83%	-3.46%

Correlation

The correlation between MARO and HPYM.TO is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.09

Return for Risk

MARO vs. HPYM.TO — Risk / Return Rank

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

MARO

MARO Risk / Return Rank: 6
MARO Sharpe Ratio Rank: 5
MARO Sortino Ratio Rank: 6
MARO Omega Ratio Rank: 6
MARO Calmar Ratio Rank: 5
MARO Martin Ratio Rank: 6

HPYM.TO

HPYM.TO Risk / Return Rank: 17
HPYM.TO Sharpe Ratio Rank: 18
HPYM.TO Sortino Ratio Rank: 16
HPYM.TO Omega Ratio Rank: 16
HPYM.TO Calmar Ratio Rank: 16
HPYM.TO Martin Ratio Rank: 17

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.

MARO vs. HPYM.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MARA Option Income Strategy ETF (MARO) and Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO). 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.

	MARO	HPYM.TO	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	0.09	-0.55
Sortino ratio: Return per unit of downside risk	-0.34	0.17	-0.51
Omega ratio: Gain probability vs. loss probability	0.96	1.02	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.44	0.12	-0.56
Martin ratio: Return relative to average drawdown	-0.74	0.33	-1.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARO vs. HPYM.TO - Sharpe Ratio Comparison

The current MARO Sharpe Ratio is -0.47, which is lower than the HPYM.TO Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of MARO and HPYM.TO, 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

	MARO	HPYM.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	0.09	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	0.11	-0.65

Drawdowns

MARO vs. HPYM.TO - Drawdown Comparison

The maximum MARO drawdown since its inception was -71.75%, which is greater than HPYM.TO's maximum drawdown of -12.28%. Use the drawdown chart below to compare losses from any high point for MARO and HPYM.TO.

Drawdown Indicators

	MARO	HPYM.TO	Difference
Max Drawdown Largest peak-to-trough decline	-71.75%	-12.28%	-59.47%
Max Drawdown (1Y) Largest decline over 1 year	-65.51%	-4.96%	-60.55%
Current Drawdown Current decline from peak	-51.98%	-4.35%	-47.63%
Average Drawdown Average peak-to-trough decline	-42.00%	-3.92%	-38.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.66%	1.84%	+36.82%

Volatility

MARO vs. HPYM.TO - Volatility Comparison

YieldMax MARA Option Income Strategy ETF (MARO) has a higher volatility of 11.57% compared to Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units (HPYM.TO) at 2.25%. This indicates that MARO's price experiences larger fluctuations and is considered to be riskier than HPYM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARO	HPYM.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.57%	2.25%	+9.32%
Volatility (6M) Calculated over the trailing 6-month period	46.31%	4.92%	+41.39%
Volatility (1Y) Calculated over the trailing 1-year period	61.33%	6.92%	+54.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.08%	8.33%	+56.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.08%	8.33%	+56.75%

MARO vs. HPYM.TO - Expense Ratio Comparison

MARO has a 0.99% expense ratio, which is higher than HPYM.TO's 0.45% expense ratio.

Dividends

MARO vs. HPYM.TO - Dividend Comparison

MARO's dividend yield for the trailing twelve months is around 192.75%, more than HPYM.TO's 9.36% yield.

Position	TTM	2025	2024
HPYM.TO Harvest Premium Yield 7-10 Year Treasury ETF - Class A Units	9.36%	9.01%	8.07%
MARO YieldMax MARA Option Income Strategy ETF	192.75%	277.68%	0.00%

Frequently Asked Questions

Can I hold both MARO and HPYM.TO in my portfolio?

MARO and HPYM.TO have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MARO or HPYM.TO?

On fees, HPYM.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MARO or HPYM.TO?

HPYM.TO is cheaper with a 0.45% expense ratio, compared with 0.99% for MARO.

What is the main difference between MARO and HPYM.TO?

MARO is categorized as Derivative Income, while HPYM.TO is Government Bonds. They also come from different issuers: YieldMax and Harvest. Their fees differ too: 0.99% for MARO and 0.45% for HPYM.TO.