PAYR vs. TSMY
PAYR (Federated Hermes Enhanced Income ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.02, they often move in opposite directions. PAYR charges 0.40%/yr vs 0.99%/yr for TSMY.
Performance
PAYR vs. TSMY - Performance Comparison
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Returns By Period
In the year-to-date period, PAYR achieves a 7.22% return, which is significantly lower than TSMY's 38.71% return.
PAYR
- 1D
- -0.02%
- 1M
- -0.97%
- YTD
- 7.22%
- 6M
- 7.83%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TSMY
- 1D
- 1.22%
- 1M
- 10.37%
- YTD
- 38.71%
- 6M
- 41.54%
- 1Y
- 91.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAYR vs. TSMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PAYR Federated Hermes Enhanced Income ETF | 7.22% | 3.73% |
TSMY YieldMax TSM Option Income Strategy ETF | 38.71% | 0.60% |
Correlation
The correlation between PAYR and TSMY is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025 | -0.02 |
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Return for Risk
PAYR vs. TSMY — Risk / Return Rank
PAYR
TSMY
PAYR vs. TSMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Enhanced Income ETF (PAYR) and YieldMax TSM Option Income Strategy ETF (TSMY). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| PAYR | TSMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.19 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.84 | 1.59 | +0.26 |
Drawdowns
PAYR vs. TSMY - Drawdown Comparison
The maximum PAYR drawdown since its inception was -5.24%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for PAYR and TSMY.
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Drawdown Indicators
| PAYR | TSMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.24% | -31.15% | +25.91% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.50% | — |
Current DrawdownCurrent decline from peak | -4.76% | -0.17% | -4.59% |
Average DrawdownAverage peak-to-trough decline | -1.59% | -5.50% | +3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 4.17% | — |
Volatility
PAYR vs. TSMY - Volatility Comparison
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Volatility by Period
| PAYR | TSMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.36% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 22.67% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 9.73% | 28.87% | -19.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.73% | 33.19% | -23.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.73% | 33.19% | -23.46% |
PAYR vs. TSMY - Expense Ratio Comparison
PAYR has a 0.40% expense ratio, which is lower than TSMY's 0.99% expense ratio.
Dividends
PAYR vs. TSMY - Dividend Comparison
PAYR's dividend yield for the trailing twelve months is around 5.47%, less than TSMY's 52.87% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
PAYR Federated Hermes Enhanced Income ETF | 5.47% | 1.99% | 0.00% |
TSMY YieldMax TSM Option Income Strategy ETF | 52.87% | 56.76% | 13.71% |
Frequently Asked Questions
PAYR and TSMY have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAYR is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAYR is cheaper with a 0.40% expense ratio, compared with 0.99% for TSMY.
TSMY has the higher dividend yield at 52.87%, compared with 5.47% for PAYR.
They also come from different issuers: Federated Hermes and YieldMax. Their fees differ too: 0.40% for PAYR and 0.99% for TSMY.
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