OARK vs. TSLY

Last updated Jun 24, 2026

OARK (YieldMax Innovation Option Income Strategy ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both Options Trading funds from YieldMax. Both are actively managed. Over the past 3 years, OARK returned 13.04%/yr vs 8.26%/yr for TSLY. A 0.62 correlation means they provide meaningful diversification when combined. OARK charges 0.99%/yr vs 1.07%/yr for TSLY.

Performance

OARK vs. TSLY - Performance Comparison

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

Returns By Period

In the year-to-date period, OARK achieves a 3.98% return, which is significantly higher than TSLY's -9.17% return.

OARK

• 1D: -1.92%
• 1M: -0.93%
• YTD: 3.98%
• 6M: 0.77%
• 1Y: 16.90%
• 3Y*: 13.04%
• 5Y*: —
• 10Y*: —

TSLY

• 1D: -4.63%
• 1M: -8.15%
• YTD: -9.17%
• 6M: -14.89%
• 1Y: 15.73%
• 3Y*: 8.26%
• 5Y*: —
• 10Y*: —

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

OARK vs. TSLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OARK YieldMax Innovation Option Income Strategy ETF	3.98%	20.37%	7.32%	20.12%	-9.11%
TSLY YieldMax TSLA Option Income Strategy ETF	-9.17%	13.62%	27.83%	50.69%	-27.09%

Correlation

The correlation between OARK and TSLY is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.62

The correlation between OARK and TSLY has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.

Return for Risk

OARK vs. TSLY — Risk / Return Rank

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

OARK

OARK Risk / Return Rank: 18
OARK Sharpe Ratio Rank: 19
OARK Sortino Ratio Rank: 18
OARK Omega Ratio Rank: 18
OARK Calmar Ratio Rank: 18
OARK Martin Ratio Rank: 17

TSLY

TSLY Risk / Return Rank: 16
TSLY Sharpe Ratio Rank: 15
TSLY Sortino Ratio Rank: 16
TSLY Omega Ratio Rank: 16
TSLY Calmar Ratio Rank: 18
TSLY Martin Ratio Rank: 17

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. TSLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Innovation Option Income Strategy ETF (OARK) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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	TSLY	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.44	+0.15
Sortino ratio: Return per unit of downside risk	0.97	0.83	+0.14
Omega ratio: Gain probability vs. loss probability	1.12	1.10	+0.02
Calmar ratio: Return relative to maximum drawdown	0.73	0.73	0.00
Martin ratio: Return relative to average drawdown	1.70	1.73	-0.03

OARK vs. TSLY - Sharpe Ratio Comparison

The current OARK Sharpe Ratio is 0.59, which is higher than the TSLY Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of OARK and TSLY, 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. TSLY - Drawdown Comparison

The maximum OARK drawdown since its inception was -35.48%, smaller than the maximum TSLY drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for OARK and TSLY.

Drawdown Indicators

	OARK	TSLY	Difference
Max Drawdown Largest peak-to-trough decline	-35.48%	-49.52%	+14.04%
Max Drawdown (1Y) Largest decline over 1 year	-23.26%	-21.64%	-1.62%
Max Drawdown (3Y) Largest decline over 3 years	-35.48%	-49.52%	+14.04%
Current Drawdown Current decline from peak	-8.62%	-15.07%	+6.45%
Average Drawdown Average peak-to-trough decline	-10.54%	-19.87%	+9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.96%	9.28%	+0.68%

Volatility

OARK vs. TSLY - Volatility Comparison

The current volatility for YieldMax Innovation Option Income Strategy ETF (OARK) is 9.68%, while YieldMax TSLA Option Income Strategy ETF (TSLY) has a volatility of 12.37%. This indicates that OARK experiences smaller price fluctuations and is considered to be less risky than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OARK	TSLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.68%	12.37%	-2.69%
Volatility (6M) Calculated over the trailing 6-month period	21.07%	23.73%	-2.66%
Volatility (1Y) Calculated over the trailing 1-year period	28.55%	36.06%	-7.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.95%	45.52%	-14.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.95%	45.52%	-14.57%

OARK vs. TSLY - Expense Ratio Comparison

OARK has a 0.99% expense ratio, which is lower than TSLY's 1.07% expense ratio.

Dividends

OARK vs. TSLY - Dividend Comparison

OARK's dividend yield for the trailing twelve months is around 63.14%, less than TSLY's 89.48% yield.

Position	TTM	2025	2024	2023
OARK YieldMax Innovation Option Income Strategy ETF	63.14%	61.86%	47.86%	45.03%
TSLY YieldMax TSLA Option Income Strategy ETF	89.48%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both OARK and TSLY in my portfolio?

OARK and TSLY have a correlation of 0.61, 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 TSLY?

TSLY has higher volatility (12.37%) compared to OARK (9.68%). In terms of maximum drawdown, OARK dropped -35.48% vs TSLY's -49.52%.

Which ETF is better, OARK or TSLY?

On 3-year performance, OARK leads with 13.04% vs 8.26% for TSLY. On fees, OARK is cheaper at 0.99% per year. On volatility, OARK has been the lower-risk option at 9.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OARK or TSLY?

Over the 3-year period, OARK has performed better with a 13.04% return vs 8.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OARK or TSLY?

OARK is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLY.

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

TSLY has the higher dividend yield at 89.48%, compared with 63.14% for OARK.

What is the main difference between OARK and TSLY?

Their fees differ too: 0.99% for OARK and 1.07% for TSLY.

Which has better risk-adjusted returns?

OARK currently has the higher Sharpe Ratio (0.59 vs 0.44), 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.