NFLY vs. XES
NFLY (YieldMax NFLX Option Income Strategy ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both exchange-traded funds - NFLY is a Derivative Income fund actively managed by YieldMax, while XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. NFLY is actively managed, while XES is passively managed. Over the past year, NFLY returned -27.58% vs 97.14% for XES. At a 0.06 correlation, their price movements are largely independent. NFLY charges 0.99%/yr vs 0.35%/yr for XES.
Performance
NFLY vs. XES - Performance Comparison
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Returns By Period
In the year-to-date period, NFLY achieves a -8.84% return, which is significantly lower than XES's 50.69% return.
NFLY
- 1D
- -1.96%
- 1M
- -7.89%
- YTD
- -8.84%
- 6M
- -15.99%
- 1Y
- -27.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XES
- 1D
- -0.56%
- 1M
- -4.59%
- YTD
- 50.69%
- 6M
- 43.67%
- 1Y
- 97.14%
- 3Y*
- 19.81%
- 5Y*
- 13.75%
- 10Y*
- -2.47%
NFLY vs. XES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NFLY YieldMax NFLX Option Income Strategy ETF | -8.84% | 1.66% | 66.37% | 3.45% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 50.69% | 5.89% | -5.44% | -9.21% |
Correlation
The correlation between NFLY and XES is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2023 | 0.06 |
The correlation between NFLY and XES shifts across timeframes, from -0.15 (1 year) to 0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NFLY vs. XES — Risk / Return Rank
NFLY
XES
NFLY vs. XES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax NFLX Option Income Strategy ETF (NFLY) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.
| NFLY | XES | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.23 | ||
| Sortino ratioReturn per unit of downside risk | -5.24 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.48 | -0.66 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 9.93 | -10.68 |
| Martin ratioReturn relative to average drawdown | -1.34 | 26.79 | -28.13 |
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
| NFLY | XES | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.00 | 3.23 | -4.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.35 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | -0.07 | +0.71 |
Drawdowns
NFLY vs. XES - Drawdown Comparison
The maximum NFLY drawdown since its inception was -37.18%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for NFLY and XES.
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Drawdown Indicators
| NFLY | XES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.18% | -95.65% | +58.47% |
Max Drawdown (1Y)Largest decline over 1 year | -37.18% | -9.84% | -27.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -45.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -91.23% | — |
Current DrawdownCurrent decline from peak | -32.30% | -70.90% | +38.60% |
Average DrawdownAverage peak-to-trough decline | -8.51% | -54.36% | +45.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.55% | 3.64% | +16.91% |
Volatility
NFLY vs. XES - Volatility Comparison
The current volatility for YieldMax NFLX Option Income Strategy ETF (NFLY) is 6.12%, while SPDR S&P Oil & Gas Equipment & Services ETF (XES) has a volatility of 8.22%. This indicates that NFLY experiences smaller price fluctuations and is considered to be less risky than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFLY | XES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | 8.22% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.18% | 20.52% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.67% | 30.50% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.32% | 39.04% | -10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.32% | 45.04% | -16.72% |
NFLY vs. XES - Expense Ratio Comparison
NFLY has a 0.99% expense ratio, which is higher than XES's 0.35% expense ratio.
Dividends
NFLY vs. XES - Dividend Comparison
NFLY's dividend yield for the trailing twelve months is around 58.24%, more than XES's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NFLY YieldMax NFLX Option Income Strategy ETF | 58.24% | 61.53% | 49.91% | 11.84% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 1.12% | 1.69% | 1.31% | 0.66% | 0.36% | 1.81% | 1.33% | 1.43% | 1.14% | 1.68% | 0.64% | 2.47% |
Frequently Asked Questions
NFLY and XES have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XES has higher volatility (8.22%) compared to NFLY (6.12%). In terms of maximum drawdown, NFLY dropped -37.18% vs XES's -95.65%.
On 1-year performance, XES leads with 97.14% vs -27.58% for NFLY. On fees, XES is cheaper at 0.35% per year. On volatility, NFLY has been the lower-risk option at 6.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, XES has performed better with a 97.14% return vs -27.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XES is cheaper with a 0.35% expense ratio, compared with 0.99% for NFLY.
NFLY has the higher dividend yield at 58.24%, compared with 1.12% for XES.
NFLY is categorized as Derivative Income, while XES is Energy Equities. They also come from different issuers: YieldMax and State Street. Their fees differ too: 0.99% for NFLY and 0.35% for XES.
XES currently has the higher Sharpe Ratio (3.23 vs -1.00), 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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