MARO vs. SMCY

Last updated Jun 4, 2026

MARO (YieldMax MARA Option Income Strategy ETF) and SMCY (YieldMax SMCI Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, MARO returned -26.17% vs 1.85% for SMCY. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

MARO vs. SMCY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MARA Option Income Strategy ETF (MARO) and YieldMax SMCI Option Income Strategy ETF (SMCY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARO achieves a 27.88% return, which is significantly lower than SMCY's 40.55% return.

MARO

• 1D: -2.22%
• 1M: 12.47%
• YTD: 27.88%
• 6M: -0.14%
• 1Y: -26.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMCY

• 1D: -4.44%
• 1M: 50.11%
• YTD: 40.55%
• 6M: 27.20%
• 1Y: 1.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MARO vs. SMCY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MARO YieldMax MARA Option Income Strategy ETF	27.88%	-48.05%	-19.61%
SMCY YieldMax SMCI Option Income Strategy ETF	40.55%	-15.41%	-18.95%

Correlation

The correlation between MARO and SMCY is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.46

Return for Risk

MARO vs. SMCY — Risk / Return Rank

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

MARO

MARO Risk / Return Rank: 5
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

SMCY

SMCY Risk / Return Rank: 10
SMCY Sharpe Ratio Rank: 9
SMCY Sortino Ratio Rank: 12
SMCY Omega Ratio Rank: 13
SMCY Calmar Ratio Rank: 9
SMCY Martin Ratio Rank: 9

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. SMCY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MARA Option Income Strategy ETF (MARO) and YieldMax SMCI Option Income Strategy ETF (SMCY). 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	SMCY	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	0.03	-0.46
Sortino ratio: Return per unit of downside risk	-0.27	0.49	-0.76
Omega ratio: Gain probability vs. loss probability	0.97	1.08	-0.11
Calmar ratio: Return relative to maximum drawdown	-0.40	0.03	-0.43
Martin ratio: Return relative to average drawdown	-0.68	0.05	-0.73
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. SMCY - Sharpe Ratio Comparison

The current MARO Sharpe Ratio is -0.43, which is lower than the SMCY Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of MARO and SMCY, 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	SMCY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.43	0.03	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	-0.54	-0.16	-0.37

Drawdowns

MARO vs. SMCY - Drawdown Comparison

The maximum MARO drawdown since its inception was -71.75%, which is greater than SMCY's maximum drawdown of -64.75%. Use the drawdown chart below to compare losses from any high point for MARO and SMCY.

Drawdown Indicators

	MARO	SMCY	Difference
Max Drawdown Largest peak-to-trough decline	-71.75%	-64.75%	-7.00%
Max Drawdown (1Y) Largest decline over 1 year	-65.51%	-60.43%	-5.08%
Current Drawdown Current decline from peak	-51.27%	-32.24%	-19.03%
Average Drawdown Average peak-to-trough decline	-41.97%	-37.02%	-4.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.58%	34.87%	+3.71%

Volatility

MARO vs. SMCY - Volatility Comparison

The current volatility for YieldMax MARA Option Income Strategy ETF (MARO) is 11.56%, while YieldMax SMCI Option Income Strategy ETF (SMCY) has a volatility of 24.75%. This indicates that MARO experiences smaller price fluctuations and is considered to be less risky than SMCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARO	SMCY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.56%	24.75%	-13.19%
Volatility (6M) Calculated over the trailing 6-month period	46.34%	56.00%	-9.66%
Volatility (1Y) Calculated over the trailing 1-year period	61.49%	64.57%	-3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.15%	77.53%	-12.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.15%	77.53%	-12.38%

MARO vs. SMCY - Expense Ratio Comparison

Both MARO and SMCY have an expense ratio of 0.99%.

Dividends

MARO vs. SMCY - Dividend Comparison

MARO's dividend yield for the trailing twelve months is around 183.99%, more than SMCY's 151.41% yield.

Position	TTM	2025	2024
MARO YieldMax MARA Option Income Strategy ETF	183.99%	277.68%	0.00%
SMCY YieldMax SMCI Option Income Strategy ETF	151.41%	231.43%	38.43%

Frequently Asked Questions

Can I hold both MARO and SMCY in my portfolio?

MARO and SMCY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARO or SMCY?

SMCY has higher volatility (24.75%) compared to MARO (11.56%). In terms of maximum drawdown, MARO dropped -71.75% vs SMCY's -64.75%.

Which ETF is better, MARO or SMCY?

On 1-year performance, SMCY leads with 1.85% vs -26.17% for MARO. Both ETFs have the same 0.99% expense ratio. On volatility, MARO has been the lower-risk option at 11.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MARO or SMCY?

Over the 1-year period, SMCY has performed better with a 1.85% return vs -26.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MARO or SMCY?

MARO and SMCY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, MARO or SMCY?

MARO has the higher dividend yield at 183.99%, compared with 151.41% for SMCY.

Which has better risk-adjusted returns?

SMCY currently has the higher Sharpe Ratio (0.03 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.