MARO vs. IVVW
MARO (YieldMax MARA Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. MARO is actively managed, while IVVW is passively managed. Over the past year, MARO returned -26.17% vs 20.07% for IVVW. A 0.50 correlation means they provide meaningful diversification when combined. MARO charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
MARO vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, MARO achieves a 27.88% return, which is significantly higher than IVVW's 4.84% return.
MARO
- 1D
- -2.22%
- 1M
- 12.47%
- YTD
- 27.88%
- 6M
- -0.14%
- 1Y
- -26.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.02%
- 1M
- 1.90%
- YTD
- 4.84%
- 6M
- 6.58%
- 1Y
- 20.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MARO vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MARO YieldMax MARA Option Income Strategy ETF | 27.88% | -48.05% | -19.61% |
IVVW iShares S&P 500 BuyWrite ETF | 4.84% | 11.71% | -1.11% |
Correlation
The correlation between MARO and IVVW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024 | 0.50 |
The correlation between MARO and IVVW has been stable across timeframes, ranging from 0.41 to 0.50 - a consistent structural relationship.
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Return for Risk
MARO vs. IVVW — Risk / Return Rank
MARO
IVVW
MARO vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MARA Option Income Strategy ETF (MARO) and iShares S&P 500 BuyWrite ETF (IVVW). 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 | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.15 | ||
| Sortino ratioReturn per unit of downside risk | -4.04 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.61 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 3.47 | -3.87 |
| Martin ratioReturn relative to average drawdown | -0.68 | 19.13 | -19.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MARO | IVVW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | 2.73 | -3.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.54 | 1.07 | -1.60 |
Drawdowns
MARO vs. IVVW - Drawdown Comparison
The maximum MARO drawdown since its inception was -71.75%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for MARO and IVVW.
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Drawdown Indicators
| MARO | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.75% | -16.79% | -54.96% |
Max Drawdown (1Y)Largest decline over 1 year | -65.51% | -5.81% | -59.70% |
Current DrawdownCurrent decline from peak | -51.27% | -0.09% | -51.18% |
Average DrawdownAverage peak-to-trough decline | -41.97% | -1.75% | -40.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.58% | 1.05% | +37.53% |
Volatility
MARO vs. IVVW - Volatility Comparison
YieldMax MARA Option Income Strategy ETF (MARO) has a higher volatility of 11.56% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.13%. This indicates that MARO's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MARO | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.56% | 1.13% | +10.43% |
Volatility (6M)Calculated over the trailing 6-month period | 46.34% | 6.07% | +40.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 61.49% | 7.40% | +54.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 65.15% | 12.66% | +52.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 65.15% | 12.66% | +52.49% |
MARO vs. IVVW - Expense Ratio Comparison
MARO has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
MARO vs. IVVW - Dividend Comparison
MARO's dividend yield for the trailing twelve months is around 183.99%, more than IVVW's 19.70% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.70% | 18.55% | 13.72% |
MARO YieldMax MARA Option Income Strategy ETF | 183.99% | 277.68% | 0.00% |
Frequently Asked Questions
MARO and IVVW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MARO has higher volatility (11.56%) compared to IVVW (1.13%). In terms of maximum drawdown, MARO dropped -71.75% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 20.07% vs -26.17% for MARO. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 20.07% return vs -26.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for MARO.
MARO has the higher dividend yield at 183.99%, compared with 19.70% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for MARO and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.73 vs -0.43), 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.
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