PAYM vs. FIYY

Last updated Aug 5, 2026

PAYM (TrueShares S&P Autocallable Defensive Income ETF) and FIYY (GraniteShares YieldBOOST 20Y+ Treasuries ETF) are both Derivative Income funds. Both are actively managed. Their -0.03 correlation means they have often moved in opposite directions in the past. PAYM charges 0.74%/yr vs 1.07%/yr for FIYY.

Performance

PAYM vs. FIYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares S&P Autocallable Defensive Income ETF (PAYM) and GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PAYM

• 1D: 1.54%
• 1M: 2.32%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FIYY

• 1D: 0.29%
• 1M: 0.72%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	$2.26K	$1.33K	$1.42K
PAYM TrueShares S&P Autocallable Defensive Income ETF	$706.90K	$1.06M	$937.21K

PAYM vs. FIYY - Yearly Performance Comparison

	2026 (YTD)
PAYM TrueShares S&P Autocallable Defensive Income ETF	2.32%
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	0.59%

Correlation

The correlation between PAYM and FIYY is -0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	-0.03

Return for Risk

PAYM vs. FIYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares S&P Autocallable Defensive Income ETF (PAYM) and GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

PAYM vs. FIYY - Drawdown Comparison

The maximum PAYM drawdown since its inception was -5.41%, which is greater than FIYY's maximum drawdown of -2.94%. Use the drawdown chart below to compare losses from any high point for PAYM and FIYY.

Drawdown Indicators

	PAYM	FIYY	Difference
Max Drawdown Largest peak-to-trough decline	-5.41%	-2.94%	-2.47%
Current Drawdown Current decline from peak	-0.47%	-1.31%	+0.84%
Average Drawdown Average peak-to-trough decline	-2.14%	-1.59%	-0.55%

Volatility

Volatility by Period

	PAYM	FIYY	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.16%	5.70%	+12.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.16%	5.70%	+12.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.16%	5.70%	+12.46%

PAYM vs. FIYY - Expense Ratio Comparison

PAYM has a 0.74% expense ratio, which is lower than FIYY's 1.07% expense ratio.

Dividends

PAYM vs. FIYY - Dividend Comparison

PAYM's dividend yield for the trailing twelve months is around 2.45%, more than FIYY's 1.24% yield.

Position	TTM
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	1.24%
PAYM TrueShares S&P Autocallable Defensive Income ETF	2.45%

Frequently Asked Questions

Can I hold both PAYM and FIYY in my portfolio?

PAYM and FIYY have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PAYM or FIYY?

On fees, PAYM is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PAYM or FIYY?

PAYM is cheaper with a 0.74% expense ratio, compared with 1.07% for FIYY.

Which ETF pays a higher dividend yield, PAYM or FIYY?

PAYM has the higher dividend yield at 2.45%, compared with 1.24% for FIYY.

What is the main difference between PAYM and FIYY?

They also come from different issuers: TrueShares and GraniteShares. Their fees differ too: 0.74% for PAYM and 1.07% for FIYY.