NFLY vs. HOOY

Last updated Jun 13, 2026

NFLY (YieldMax NFLX Option Income Strategy ETF) and HOOY (YieldMax HOOD Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, NFLY returned -27.83% vs 14.38% for HOOY. At a 0.20 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

NFLY vs. HOOY - Performance Comparison

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

Returns By Period

In the year-to-date period, NFLY achieves a -9.66% return, which is significantly higher than HOOY's -13.15% return.

NFLY

• 1D: -1.09%
• 1M: -5.66%
• YTD: -9.66%
• 6M: -9.49%
• 1Y: -27.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HOOY

• 1D: 0.37%
• 1M: 14.96%
• YTD: -13.15%
• 6M: -15.59%
• 1Y: 14.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NFLY vs. HOOY - Yearly Performance Comparison

	2026 (YTD)	2025
NFLY YieldMax NFLX Option Income Strategy ETF	-9.66%	-16.81%
HOOY YieldMax HOOD Option Income Strategy ETF	-13.15%	67.41%

Correlation

The correlation between NFLY and HOOY is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.20

Return for Risk

NFLY vs. HOOY — Risk / Return Rank

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

NFLY

NFLY Risk / Return Rank: 2
NFLY Sharpe Ratio Rank: 1
NFLY Sortino Ratio Rank: 2
NFLY Omega Ratio Rank: 1
NFLY Calmar Ratio Rank: 3
NFLY Martin Ratio Rank: 3

HOOY

HOOY Risk / Return Rank: 14
HOOY Sharpe Ratio Rank: 14
HOOY Sortino Ratio Rank: 16
HOOY Omega Ratio Rank: 17
HOOY Calmar Ratio Rank: 13
HOOY Martin Ratio Rank: 12

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.

NFLY vs. HOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax NFLX Option Income Strategy ETF (NFLY) and YieldMax HOOD Option Income Strategy ETF (HOOY). 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.

	NFLY	HOOY	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	0.26	-1.27
Sortino ratio: Return per unit of downside risk	-1.40	0.75	-2.15
Omega ratio: Gain probability vs. loss probability	0.82	1.09	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.75	0.28	-1.03
Martin ratio: Return relative to average drawdown	-1.31	0.50	-1.81

NFLY vs. HOOY - Sharpe Ratio Comparison

The current NFLY Sharpe Ratio is -1.01, which is lower than the HOOY Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of NFLY and HOOY, 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

NFLY vs. HOOY - Drawdown Comparison

The maximum NFLY drawdown since its inception was -37.18%, smaller than the maximum HOOY drawdown of -51.54%. Use the drawdown chart below to compare losses from any high point for NFLY and HOOY.

Drawdown Indicators

	NFLY	HOOY	Difference
Max Drawdown Largest peak-to-trough decline	-37.18%	-51.54%	+14.36%
Max Drawdown (1Y) Largest decline over 1 year	-37.18%	-51.54%	+14.36%
Current Drawdown Current decline from peak	-32.91%	-35.28%	+2.37%
Average Drawdown Average peak-to-trough decline	-8.73%	-20.56%	+11.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.22%	28.94%	-7.72%

Volatility

NFLY vs. HOOY - Volatility Comparison

The current volatility for YieldMax NFLX Option Income Strategy ETF (NFLY) is 4.47%, while YieldMax HOOD Option Income Strategy ETF (HOOY) has a volatility of 17.45%. This indicates that NFLY experiences smaller price fluctuations and is considered to be less risky than HOOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFLY	HOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	17.45%	-12.98%
Volatility (6M) Calculated over the trailing 6-month period	20.28%	42.40%	-22.12%
Volatility (1Y) Calculated over the trailing 1-year period	27.63%	55.83%	-28.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.18%	54.40%	-26.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.18%	54.40%	-26.22%

NFLY vs. HOOY - Expense Ratio Comparison

Both NFLY and HOOY have an expense ratio of 0.99%.

Dividends

NFLY vs. HOOY - Dividend Comparison

NFLY's dividend yield for the trailing twelve months is around 60.75%, less than HOOY's 155.65% yield.

Position	TTM	2025	2024	2023
HOOY YieldMax HOOD Option Income Strategy ETF	155.65%	82.87%	0.00%	0.00%
NFLY YieldMax NFLX Option Income Strategy ETF	60.75%	61.53%	49.91%	11.84%

Frequently Asked Questions

Can I hold both NFLY and HOOY in my portfolio?

NFLY and HOOY have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFLY or HOOY?

HOOY has higher volatility (17.45%) compared to NFLY (4.47%). In terms of maximum drawdown, NFLY dropped -37.18% vs HOOY's -51.54%.

Which ETF is better, NFLY or HOOY?

On 1-year performance, HOOY leads with 14.38% vs -27.83% for NFLY. Both ETFs have the same 0.99% expense ratio. On volatility, NFLY has been the lower-risk option at 4.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFLY or HOOY?

Over the 1-year period, HOOY has performed better with a 14.38% return vs -27.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFLY or HOOY?

NFLY and HOOY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, NFLY or HOOY?

HOOY has the higher dividend yield at 155.65%, compared with 60.75% for NFLY.

Which has better risk-adjusted returns?

HOOY currently has the higher Sharpe Ratio (0.26 vs -1.01), 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.