PLTY vs. CVNY

Last updated Jun 24, 2026

PLTY (YieldMax PLTR Option Income Strategy ETF) and CVNY (YieldMax CVNA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, PLTY returned -14.92% vs 4.20% for CVNY. At a 0.46 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

PLTY vs. CVNY - Performance Comparison

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

Returns By Period

In the year-to-date period, PLTY achieves a -26.92% return, which is significantly lower than CVNY's -19.08% return.

PLTY

• 1D: -2.42%
• 1M: -12.09%
• YTD: -26.92%
• 6M: -32.83%
• 1Y: -14.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CVNY

• 1D: -2.32%
• 1M: -2.88%
• YTD: -19.08%
• 6M: -21.58%
• 1Y: 4.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PLTY vs. CVNY - Yearly Performance Comparison

	2026 (YTD)	2025
PLTY YieldMax PLTR Option Income Strategy ETF	-26.92%	73.60%
CVNY YieldMax CVNA Option Income Strategy ETF	-19.08%	52.13%

Correlation

The correlation between PLTY and CVNY is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025	0.46

Return for Risk

PLTY vs. CVNY — Risk / Return Rank

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

PLTY

PLTY Risk / Return Rank: 6
PLTY Sharpe Ratio Rank: 6
PLTY Sortino Ratio Rank: 6
PLTY Omega Ratio Rank: 6
PLTY Calmar Ratio Rank: 5
PLTY Martin Ratio Rank: 5

CVNY

CVNY Risk / Return Rank: 10
CVNY Sharpe Ratio Rank: 10
CVNY Sortino Ratio Rank: 12
CVNY Omega Ratio Rank: 11
CVNY Calmar Ratio Rank: 10
CVNY Martin Ratio Rank: 10

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.

PLTY vs. CVNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax PLTR Option Income Strategy ETF (PLTY) and YieldMax CVNA Option Income Strategy ETF (CVNY). 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.

	PLTY	CVNY	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	0.08	-0.43
Sortino ratio: Return per unit of downside risk	-0.21	0.47	-0.67
Omega ratio: Gain probability vs. loss probability	0.97	1.06	-0.08
Calmar ratio: Return relative to maximum drawdown	-0.41	0.12	-0.53
Martin ratio: Return relative to average drawdown	-0.79	0.25	-1.04

PLTY vs. CVNY - Sharpe Ratio Comparison

The current PLTY Sharpe Ratio is -0.35, which is lower than the CVNY Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of PLTY and CVNY, 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

PLTY vs. CVNY - Drawdown Comparison

The maximum PLTY drawdown since its inception was -36.62%, smaller than the maximum CVNY drawdown of -43.27%. Use the drawdown chart below to compare losses from any high point for PLTY and CVNY.

Drawdown Indicators

	PLTY	CVNY	Difference
Max Drawdown Largest peak-to-trough decline	-36.62%	-43.27%	+6.65%
Max Drawdown (1Y) Largest decline over 1 year	-36.62%	-36.27%	-0.35%
Current Drawdown Current decline from peak	-36.62%	-27.18%	-9.44%
Average Drawdown Average peak-to-trough decline	-13.27%	-13.84%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.00%	16.85%	+2.15%

Volatility

PLTY vs. CVNY - Volatility Comparison

YieldMax PLTR Option Income Strategy ETF (PLTY) and YieldMax CVNA Option Income Strategy ETF (CVNY) have volatilities of 16.40% and 16.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTY	CVNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	16.20%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	32.73%	36.90%	-4.17%
Volatility (1Y) Calculated over the trailing 1-year period	43.35%	49.75%	-6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.67%	57.98%	-5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.67%	57.98%	-5.31%

PLTY vs. CVNY - Expense Ratio Comparison

Both PLTY and CVNY have an expense ratio of 0.99%.

Dividends

PLTY vs. CVNY - Dividend Comparison

PLTY's dividend yield for the trailing twelve months is around 125.34%, more than CVNY's 114.88% yield.

Position	TTM	2025	2024
CVNY YieldMax CVNA Option Income Strategy ETF	114.88%	80.86%	0.00%
PLTY YieldMax PLTR Option Income Strategy ETF	125.34%	112.44%	7.85%

Frequently Asked Questions

Can I hold both PLTY and CVNY in my portfolio?

PLTY and CVNY have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTY or CVNY?

PLTY has higher volatility (16.40%) compared to CVNY (16.20%). In terms of maximum drawdown, PLTY dropped -36.62% vs CVNY's -43.27%.

Which ETF is better, PLTY or CVNY?

On 1-year performance, CVNY leads with 4.20% vs -14.92% for PLTY. Both ETFs have the same 0.99% expense ratio. On volatility, CVNY has been the lower-risk option at 16.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTY or CVNY?

Over the 1-year period, CVNY has performed better with a 4.20% return vs -14.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTY or CVNY?

PLTY and CVNY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, PLTY or CVNY?

PLTY has the higher dividend yield at 125.34%, compared with 114.88% for CVNY.

Which has better risk-adjusted returns?

CVNY currently has the higher Sharpe Ratio (0.08 vs -0.35), 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.