OARK vs. HOOY

Last updated Jun 13, 2026

OARK (YieldMax Innovation Option Income Strategy ETF) and HOOY (YieldMax HOOD Option Income Strategy ETF) are both exchange-traded funds - OARK is a Options Trading fund actively managed by YieldMax, while HOOY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, OARK returned 24.60% vs 14.38% for HOOY. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

Performance

OARK vs. HOOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Innovation Option Income Strategy ETF (OARK) 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, OARK achieves a 3.08% return, which is significantly higher than HOOY's -13.15% return.

OARK

• 1D: 0.49%
• 1M: -2.45%
• YTD: 3.08%
• 6M: 0.24%
• 1Y: 24.60%
• 3Y*: 11.56%
• 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)

OARK vs. HOOY - Yearly Performance Comparison

	2026 (YTD)	2025
OARK YieldMax Innovation Option Income Strategy ETF	3.08%	41.72%
HOOY YieldMax HOOD Option Income Strategy ETF	-13.15%	67.41%

Correlation

The correlation between OARK and HOOY is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.75

The correlation between OARK and HOOY has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

Return for Risk

OARK vs. HOOY — Risk / Return Rank

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

OARK

OARK Risk / Return Rank: 26
OARK Sharpe Ratio Rank: 27
OARK Sortino Ratio Rank: 26
OARK Omega Ratio Rank: 26
OARK Calmar Ratio Rank: 25
OARK Martin Ratio Rank: 23

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.

OARK vs. HOOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Innovation Option Income Strategy ETF (OARK) 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.

	OARK	HOOY	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.26	+0.61
Sortino ratio: Return per unit of downside risk	1.29	0.75	+0.55
Omega ratio: Gain probability vs. loss probability	1.16	1.09	+0.07
Calmar ratio: Return relative to maximum drawdown	1.06	0.28	+0.78
Martin ratio: Return relative to average drawdown	2.49	0.50	+1.99

OARK vs. HOOY - Sharpe Ratio Comparison

The current OARK Sharpe Ratio is 0.87, which is higher than the HOOY Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of OARK 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

OARK vs. HOOY - Drawdown Comparison

The maximum OARK drawdown since its inception was -35.48%, smaller than the maximum HOOY drawdown of -51.54%. Use the drawdown chart below to compare losses from any high point for OARK and HOOY.

Drawdown Indicators

	OARK	HOOY	Difference
Max Drawdown Largest peak-to-trough decline	-35.48%	-51.54%	+16.06%
Max Drawdown (1Y) Largest decline over 1 year	-23.26%	-51.54%	+28.28%
Max Drawdown (3Y) Largest decline over 3 years	-35.48%	—	—
Current Drawdown Current decline from peak	-9.41%	-35.28%	+25.87%
Average Drawdown Average peak-to-trough decline	-10.56%	-20.56%	+10.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.91%	28.94%	-19.03%

Volatility

OARK vs. HOOY - Volatility Comparison

The current volatility for YieldMax Innovation Option Income Strategy ETF (OARK) is 9.10%, while YieldMax HOOD Option Income Strategy ETF (HOOY) has a volatility of 17.45%. This indicates that OARK 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

	OARK	HOOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.10%	17.45%	-8.35%
Volatility (6M) Calculated over the trailing 6-month period	21.00%	42.40%	-21.40%
Volatility (1Y) Calculated over the trailing 1-year period	28.43%	55.83%	-27.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.94%	54.40%	-23.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.94%	54.40%	-23.46%

OARK vs. HOOY - Expense Ratio Comparison

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

Dividends

OARK vs. HOOY - Dividend Comparison

OARK's dividend yield for the trailing twelve months is around 62.47%, 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%
OARK YieldMax Innovation Option Income Strategy ETF	62.47%	61.86%	47.86%	45.03%

Frequently Asked Questions

Can I hold both OARK and HOOY in my portfolio?

OARK and HOOY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OARK or HOOY?

HOOY has higher volatility (17.45%) compared to OARK (9.10%). In terms of maximum drawdown, OARK dropped -35.48% vs HOOY's -51.54%.

Which ETF is better, OARK or HOOY?

On 1-year performance, OARK leads with 24.60% vs 14.38% for HOOY. Both ETFs have the same 0.99% expense ratio. On volatility, OARK has been the lower-risk option at 9.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OARK or HOOY?

Over the 1-year period, OARK has performed better with a 24.60% return vs 14.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OARK or HOOY?

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

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

HOOY has the higher dividend yield at 155.65%, compared with 62.47% for OARK.

What is the main difference between OARK and HOOY?

OARK is categorized as Options Trading, while HOOY is Derivative Income.

Which has better risk-adjusted returns?

OARK currently has the higher Sharpe Ratio (0.87 vs 0.26), 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.