MEMX vs. GOOY

Last updated Jun 14, 2026

MEMX (Matthews Emerging Markets Ex China Active ETF) and GOOY (YieldMax GOOGL Option Income Strategy ETF) are both exchange-traded funds - MEMX is a Emerging Markets Diversified fund actively managed by Matthews, while GOOY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MEMX returned 63.43% vs 81.48% for GOOY. At a 0.44 correlation, their price movements are largely independent. MEMX charges 0.79%/yr vs 0.99%/yr for GOOY.

Performance

MEMX vs. GOOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Emerging Markets Ex China Active ETF (MEMX) 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, MEMX achieves a 29.81% return, which is significantly higher than GOOY's 13.92% return.

MEMX

• 1D: 0.55%
• 1M: 5.01%
• YTD: 29.81%
• 6M: 38.48%
• 1Y: 63.43%
• 3Y*: 24.90%
• 5Y*: —
• 10Y*: —

GOOY

• 1D: 0.00%
• 1M: -7.48%
• YTD: 13.92%
• 6M: 14.56%
• 1Y: 81.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MEMX vs. GOOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEMX Matthews Emerging Markets Ex China Active ETF	29.81%	35.88%	5.50%	2.99%
GOOY YieldMax GOOGL Option Income Strategy ETF	13.92%	53.95%	12.58%	-3.35%

Correlation

The correlation between MEMX and GOOY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Jul 28, 2023	0.44

Return for Risk

MEMX vs. GOOY — Risk / Return Rank

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

MEMX

MEMX Risk / Return Rank: 86
MEMX Sharpe Ratio Rank: 89
MEMX Sortino Ratio Rank: 83
MEMX Omega Ratio Rank: 87
MEMX Calmar Ratio Rank: 85
MEMX Martin Ratio Rank: 86

GOOY

GOOY Risk / Return Rank: 93
GOOY Sharpe Ratio Rank: 96
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.

MEMX vs. GOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Ex China Active ETF (MEMX) 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.

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.

	MEMX	GOOY	Difference
Sharpe ratio: Return per unit of total volatility	2.61	3.51	-0.90
Sortino ratio: Return per unit of downside risk	3.26	4.76	-1.50
Omega ratio: Gain probability vs. loss probability	1.47	1.60	-0.12
Calmar ratio: Return relative to maximum drawdown	4.16	5.06	-0.90
Martin ratio: Return relative to average drawdown	15.97	18.64	-2.67

MEMX vs. GOOY - Sharpe Ratio Comparison

The current MEMX Sharpe Ratio is 2.61, which is comparable to the GOOY Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of MEMX 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.

Drawdowns

MEMX vs. GOOY - Drawdown Comparison

The maximum MEMX drawdown since its inception was -19.27%, smaller than the maximum GOOY drawdown of -24.40%. Use the drawdown chart below to compare losses from any high point for MEMX and GOOY.

Drawdown Indicators

	MEMX	GOOY	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-24.40%	+5.13%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-16.15%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.27%	—	—
Current Drawdown Current decline from peak	-3.40%	-8.37%	+4.97%
Average Drawdown Average peak-to-trough decline	-3.50%	-6.27%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.83%	4.38%	-0.55%

Volatility

MEMX vs. GOOY - Volatility Comparison

Matthews Emerging Markets Ex China Active ETF (MEMX) has a higher volatility of 11.94% compared to YieldMax GOOGL Option Income Strategy ETF (GOOY) at 6.21%. This indicates that MEMX's price experiences larger fluctuations and is considered to be riskier than GOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEMX	GOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.94%	6.21%	+5.73%
Volatility (6M) Calculated over the trailing 6-month period	21.24%	17.39%	+3.85%
Volatility (1Y) Calculated over the trailing 1-year period	23.42%	23.33%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	23.29%	-5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.73%	23.29%	-5.56%

MEMX vs. GOOY - Expense Ratio Comparison

MEMX has a 0.79% expense ratio, which is lower than GOOY's 0.99% expense ratio.

Dividends

MEMX vs. GOOY - Dividend Comparison

MEMX's dividend yield for the trailing twelve months is around 3.76%, less than GOOY's 49.78% yield.

Position	TTM	2025	2024	2023
GOOY YieldMax GOOGL Option Income Strategy ETF	49.78%	41.50%	36.74%	7.90%
MEMX Matthews Emerging Markets Ex China Active ETF	3.76%	4.88%	0.99%	1.13%

Frequently Asked Questions

Can I hold both MEMX and GOOY in my portfolio?

MEMX and GOOY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEMX or GOOY?

MEMX has higher volatility (11.94%) compared to GOOY (6.21%). In terms of maximum drawdown, MEMX dropped -19.27% vs GOOY's -24.40%.

Which ETF is better, MEMX or GOOY?

On 1-year performance, GOOY leads with 81.48% vs 63.43% for MEMX. On fees, MEMX is cheaper at 0.79% per year. On volatility, GOOY has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEMX or GOOY?

Over the 1-year period, GOOY has performed better with a 81.48% return vs 63.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEMX or GOOY?

MEMX is cheaper with a 0.79% expense ratio, compared with 0.99% for GOOY.

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

GOOY has the higher dividend yield at 49.78%, compared with 3.76% for MEMX.

What is the main difference between MEMX and GOOY?

MEMX is categorized as Emerging Markets Diversified, while GOOY is Derivative Income. They also come from different issuers: Matthews and YieldMax. Their fees differ too: 0.79% for MEMX and 0.99% for GOOY.

Which has better risk-adjusted returns?

GOOY currently has the higher Sharpe Ratio (3.51 vs 2.61), 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.