METW vs. FBY

Last updated Jul 31, 2026

METW (Roundhill Meta Weeklypay ETF) and FBY (YieldMax META Option Income Strategy ETF) are both exchange-traded funds - METW is a Technology Equities fund tracking the Ball Metaverse Index, while FBY is a Derivative Income fund actively managed by YieldMax. METW is passively managed, while FBY is actively managed. Over the past year, METW returned -30.62% vs -21.54% for FBY. Their 0.98 correlation means they have historically moved very closely together. METW charges 0.59%/yr vs 0.99%/yr for FBY.

Performance

METW vs. FBY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Meta Weeklypay ETF (METW) and YieldMax META Option Income Strategy ETF (FBY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, METW achieves a -24.27% return, which is significantly lower than FBY's -17.27% return.

METW

• 1D: -9.41%
• 1M: -6.14%
• 6M: -33.44%
• YTD: -24.27%
• 1Y: -30.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -28.50%

FBY

• 1D: -7.15%
• 1M: -3.97%
• 6M: -24.44%
• YTD: -17.27%
• 1Y: -21.54%
• 3Y*: 12.59%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBY YieldMax META Option Income Strategy ETF	$1.37M	$1.65M	$1.62M
METW Roundhill Meta Weeklypay ETF	$373.93K	$425.63K	$520.64K

METW vs. FBY - Yearly Performance Comparison

	2026 (YTD)	2025
METW Roundhill Meta Weeklypay ETF	-24.27%	-9.14%
FBY YieldMax META Option Income Strategy ETF	-17.27%	-4.44%

Correlation

The correlation between METW and FBY is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.98

The correlation between METW and FBY has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

METW vs. FBY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

METW

METW Risk / Return Rank: 3
METW Sharpe Ratio Rank: 4
METW Sortino Ratio Rank: 4
METW Omega Ratio Rank: 4
METW Calmar Ratio Rank: 3
METW Martin Ratio Rank: 2

FBY

FBY Risk / Return Rank: 3
FBY Sharpe Ratio Rank: 4
FBY Sortino Ratio Rank: 4
FBY Omega Ratio Rank: 4
FBY Calmar Ratio Rank: 3
FBY Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

METW vs. FBY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Meta Weeklypay ETF (METW) and YieldMax META Option Income Strategy ETF (FBY). 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.

	METW	FBY	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	-0.66	+0.01
Sortino ratio: Return per unit of downside risk	-0.76	-0.78	+0.02
Omega ratio: Gain probability vs. loss probability	0.90	0.90	+0.01
Calmar ratio: Return relative to maximum drawdown	-0.76	-0.73	-0.03
Martin ratio: Return relative to average drawdown	-1.32	-1.35	+0.03

METW vs. FBY - Sharpe Ratio Comparison

The current METW Sharpe Ratio is -0.65, which is comparable to the FBY Sharpe Ratio of -0.66. The chart below compares the historical Sharpe Ratios of METW and FBY, 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

METW vs. FBY - Drawdown Comparison

The maximum METW drawdown since its inception was -40.52%, which is greater than FBY's maximum drawdown of -31.53%. Use the drawdown chart below to compare losses from any high point for METW and FBY.

Drawdown Indicators

	METW	FBY	Difference
Max Drawdown Largest peak-to-trough decline	-40.52%	-31.53%	-8.99%
Max Drawdown (1Y) Largest decline over 1 year	-40.52%	-29.50%	-11.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.53%	—
Current Drawdown Current decline from peak	-39.91%	-28.90%	-11.01%
Average Drawdown Average peak-to-trough decline	-19.19%	-8.53%	-10.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.24%	16.00%	+7.24%

Volatility

METW vs. FBY - Volatility Comparison

Roundhill Meta Weeklypay ETF (METW) has a higher volatility of 20.64% compared to YieldMax META Option Income Strategy ETF (FBY) at 15.07%. This indicates that METW's price experiences larger fluctuations and is considered to be riskier than FBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	METW	FBY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.64%	15.07%	+5.57%
Volatility (6M) Calculated over the trailing 6-month period	38.03%	26.91%	+11.12%
Volatility (1Y) Calculated over the trailing 1-year period	47.28%	32.86%	+14.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.55%	29.49%	+16.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.55%	29.49%	+16.06%

METW vs. FBY - Expense Ratio Comparison

METW has a 0.59% expense ratio, which is lower than FBY's 0.99% expense ratio.

Dividends

METW vs. FBY - Dividend Comparison

METW's dividend yield for the trailing twelve months is around 68.04%, more than FBY's 64.08% yield.

Position	TTM	2025	2024	2023
FBY YieldMax META Option Income Strategy ETF	64.08%	55.43%	53.89%	8.31%
METW Roundhill Meta Weeklypay ETF	68.04%	30.89%	0.00%	0.00%

Frequently Asked Questions

Can I hold both METW and FBY in my portfolio?

With a correlation of 0.98, METW and FBY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, METW or FBY?

METW has higher volatility (20.64%) compared to FBY (15.07%). In terms of maximum drawdown, METW dropped -40.52% vs FBY's -31.53%.

Which ETF is better, METW or FBY?

On 1-year performance, FBY leads with -21.54% vs -30.62% for METW. On fees, METW is cheaper at 0.59% per year. On volatility, FBY has been the lower-risk option at 15.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, METW or FBY?

Over the 1-year period, FBY has performed better with a -21.54% return vs -30.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, METW or FBY?

METW is cheaper with a 0.59% expense ratio, compared with 0.99% for FBY.

Which ETF pays a higher dividend yield, METW or FBY?

METW has the higher dividend yield at 68.04%, compared with 64.08% for FBY.

What is the main difference between METW and FBY?

METW is categorized as Technology Equities, while FBY is Derivative Income. They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.59% for METW and 0.99% for FBY.

Which has better risk-adjusted returns?

METW currently has the higher Sharpe Ratio (-0.65 vs -0.66), 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.