OARK vs. PYLD

Last updated Jun 20, 2026

OARK (YieldMax Innovation Option Income Strategy ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - OARK is a Options Trading fund actively managed by YieldMax, while PYLD is a Multisector Bonds fund actively managed by PIMCO. Both are actively managed. Over the past year, OARK returned 23.73% vs 7.32% for PYLD. At a 0.28 correlation, their price movements are largely independent. OARK charges 0.99%/yr vs 0.55%/yr for PYLD.

Performance

OARK vs. PYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Innovation Option Income Strategy ETF (OARK) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OARK achieves a 7.87% return, which is significantly higher than PYLD's 1.48% return.

OARK

• 1D: 1.86%
• 1M: 3.77%
• YTD: 7.87%
• 6M: 5.24%
• 1Y: 23.73%
• 3Y*: 12.99%
• 5Y*: —
• 10Y*: —

PYLD

• 1D: 0.23%
• 1M: 1.37%
• YTD: 1.48%
• 6M: 1.77%
• 1Y: 7.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OARK vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OARK YieldMax Innovation Option Income Strategy ETF	7.87%	20.37%	7.32%	6.06%
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	1.48%	9.57%	7.69%	5.46%

Correlation

The correlation between OARK and PYLD is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (All Time) Calculated using the full available price history since Jun 22, 2023	0.28

The correlation between OARK and PYLD shifts across timeframes, from 0.28 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OARK vs. PYLD — Risk / Return Rank

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

OARK

OARK Risk / Return Rank: 23
OARK Sharpe Ratio Rank: 24
OARK Sortino Ratio Rank: 23
OARK Omega Ratio Rank: 23
OARK Calmar Ratio Rank: 23
OARK Martin Ratio Rank: 20

PYLD

PYLD Risk / Return Rank: 71
PYLD Sharpe Ratio Rank: 80
PYLD Sortino Ratio Rank: 84
PYLD Omega Ratio Rank: 84
PYLD Calmar Ratio Rank: 48
PYLD Martin Ratio Rank: 60

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. PYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Innovation Option Income Strategy ETF (OARK) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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	PYLD	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.40	-1.56
Sortino ratio: Return per unit of downside risk	1.26	3.52	-2.26
Omega ratio: Gain probability vs. loss probability	1.16	1.48	-0.32
Calmar ratio: Return relative to maximum drawdown	1.02	2.26	-1.24
Martin ratio: Return relative to average drawdown	2.39	10.26	-7.87

OARK vs. PYLD - Sharpe Ratio Comparison

The current OARK Sharpe Ratio is 0.84, which is lower than the PYLD Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of OARK and PYLD, 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. PYLD - Drawdown Comparison

The maximum OARK drawdown since its inception was -35.48%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for OARK and PYLD.

Drawdown Indicators

	OARK	PYLD	Difference
Max Drawdown Largest peak-to-trough decline	-35.48%	-4.52%	-30.96%
Max Drawdown (1Y) Largest decline over 1 year	-23.26%	-3.25%	-20.01%
Max Drawdown (3Y) Largest decline over 3 years	-35.48%	—	—
Current Drawdown Current decline from peak	-5.20%	-0.23%	-4.97%
Average Drawdown Average peak-to-trough decline	-10.54%	-0.65%	-9.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.94%	0.71%	+9.23%

Volatility

OARK vs. PYLD - Volatility Comparison

YieldMax Innovation Option Income Strategy ETF (OARK) has a higher volatility of 9.51% compared to PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 1.13%. This indicates that OARK's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OARK	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	1.13%	+8.38%
Volatility (6M) Calculated over the trailing 6-month period	21.26%	2.60%	+18.66%
Volatility (1Y) Calculated over the trailing 1-year period	28.57%	3.06%	+25.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.95%	3.99%	+26.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.95%	3.99%	+26.96%

OARK vs. PYLD - Expense Ratio Comparison

OARK has a 0.99% expense ratio, which is higher than PYLD's 0.55% expense ratio.

Dividends

OARK vs. PYLD - Dividend Comparison

OARK's dividend yield for the trailing twelve months is around 60.86%, more than PYLD's 6.26% yield.

Position	TTM	2025	2024	2023
OARK YieldMax Innovation Option Income Strategy ETF	60.86%	61.86%	47.86%	45.03%
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund	6.26%	6.21%	6.40%	2.72%

Frequently Asked Questions

Can I hold both OARK and PYLD in my portfolio?

OARK and PYLD have a correlation of 0.40, 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 PYLD?

OARK has higher volatility (9.51%) compared to PYLD (1.13%). In terms of maximum drawdown, OARK dropped -35.48% vs PYLD's -4.52%.

Which ETF is better, OARK or PYLD?

On 1-year performance, OARK leads with 23.73% vs 7.32% for PYLD. On fees, PYLD is cheaper at 0.55% per year. On volatility, PYLD has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OARK or PYLD?

Over the 1-year period, OARK has performed better with a 23.73% return vs 7.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OARK or PYLD?

PYLD is cheaper with a 0.55% expense ratio, compared with 0.99% for OARK.

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

OARK has the higher dividend yield at 60.86%, compared with 6.26% for PYLD.

What is the main difference between OARK and PYLD?

OARK is categorized as Options Trading, while PYLD is Multisector Bonds. They also come from different issuers: YieldMax and PIMCO. Their fees differ too: 0.99% for OARK and 0.55% for PYLD.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.40 vs 0.84), 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.