PLTY vs. TBLL

Last updated Jun 24, 2026

PLTY (YieldMax PLTR Option Income Strategy ETF) and TBLL (Invesco Short Term Treasury ETF) are both exchange-traded funds - PLTY is a Derivative Income fund actively managed by YieldMax, while TBLL is a Ultrashort Bond fund tracking the ICE U.S. Treasury Short Bond Index. PLTY is actively managed, while TBLL is passively managed. Over the past year, PLTY returned -14.92% vs 3.86% for TBLL. At a correlation of -0.06, they often move in opposite directions. PLTY charges 0.99%/yr vs 0.08%/yr for TBLL.

Performance

PLTY vs. TBLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax PLTR Option Income Strategy ETF (PLTY) and Invesco Short Term Treasury ETF (TBLL). 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 TBLL's 1.60% return.

PLTY

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

TBLL

• 1D: 0.00%
• 1M: 0.26%
• YTD: 1.60%
• 6M: 1.68%
• 1Y: 3.86%
• 3Y*: 4.60%
• 5Y*: 3.39%
• 10Y*: —

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

PLTY vs. TBLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PLTY YieldMax PLTR Option Income Strategy ETF	-26.92%	78.06%	52.50%
TBLL Invesco Short Term Treasury ETF	1.60%	4.21%	1.08%

Correlation

The correlation between PLTY and TBLL is -0.07, 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 (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Oct 8, 2024	-0.06

Return for Risk

PLTY vs. TBLL — 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

TBLL

TBLL Risk / Return Rank: 100
TBLL Sharpe Ratio Rank: 100
TBLL Sortino Ratio Rank: 100
TBLL Omega Ratio Rank: 100
TBLL Calmar Ratio Rank: 100
TBLL Martin Ratio Rank: 100

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. TBLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax PLTR Option Income Strategy ETF (PLTY) and Invesco Short Term Treasury ETF (TBLL). 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	TBLL	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	20.52	-20.87
Sortino ratio: Return per unit of downside risk	-0.21	188.99	-189.19
Omega ratio: Gain probability vs. loss probability	0.97	81.03	-80.06
Calmar ratio: Return relative to maximum drawdown	-0.41	408.95	-409.35
Martin ratio: Return relative to average drawdown	-0.79	3,057.45	-3,058.24

PLTY vs. TBLL - Sharpe Ratio Comparison

The current PLTY Sharpe Ratio is -0.35, which is lower than the TBLL Sharpe Ratio of 20.52. The chart below compares the historical Sharpe Ratios of PLTY and TBLL, 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. TBLL - Drawdown Comparison

The maximum PLTY drawdown since its inception was -36.62%, which is greater than TBLL's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for PLTY and TBLL.

Drawdown Indicators

	PLTY	TBLL	Difference
Max Drawdown Largest peak-to-trough decline	-36.62%	-0.63%	-35.99%
Max Drawdown (1Y) Largest decline over 1 year	-36.62%	-0.01%	-36.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-0.36%	—
Current Drawdown Current decline from peak	-36.62%	0.00%	-36.62%
Average Drawdown Average peak-to-trough decline	-13.27%	-0.14%	-13.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.00%	0.00%	+19.00%

Volatility

PLTY vs. TBLL - Volatility Comparison

YieldMax PLTR Option Income Strategy ETF (PLTY) has a higher volatility of 16.40% compared to Invesco Short Term Treasury ETF (TBLL) at 0.05%. This indicates that PLTY's price experiences larger fluctuations and is considered to be riskier than TBLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTY	TBLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.40%	0.05%	+16.35%
Volatility (6M) Calculated over the trailing 6-month period	32.73%	0.12%	+32.61%
Volatility (1Y) Calculated over the trailing 1-year period	43.35%	0.19%	+43.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.67%	0.45%	+52.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.67%	0.56%	+52.11%

PLTY vs. TBLL - Expense Ratio Comparison

PLTY has a 0.99% expense ratio, which is higher than TBLL's 0.08% expense ratio.

Dividends

PLTY vs. TBLL - Dividend Comparison

PLTY's dividend yield for the trailing twelve months is around 125.34%, more than TBLL's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTY YieldMax PLTR Option Income Strategy ETF	125.34%	112.44%	7.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TBLL Invesco Short Term Treasury ETF	3.76%	4.08%	4.99%	4.63%	1.37%	0.03%	0.80%	2.08%	1.69%	0.71%

Frequently Asked Questions

Can I hold both PLTY and TBLL in my portfolio?

PLTY and TBLL have a correlation of -0.07, 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 TBLL?

PLTY has higher volatility (16.40%) compared to TBLL (0.05%). In terms of maximum drawdown, PLTY dropped -36.62% vs TBLL's -0.63%.

Which ETF is better, PLTY or TBLL?

On 1-year performance, TBLL leads with 3.86% vs -14.92% for PLTY. On fees, TBLL is cheaper at 0.08% per year. On volatility, TBLL has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTY or TBLL?

Over the 1-year period, TBLL has performed better with a 3.86% 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 TBLL?

TBLL is cheaper with a 0.08% expense ratio, compared with 0.99% for PLTY.

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

PLTY has the higher dividend yield at 125.34%, compared with 3.76% for TBLL.

What is the main difference between PLTY and TBLL?

PLTY is categorized as Derivative Income, while TBLL is Ultrashort Bond. They also come from different issuers: YieldMax and Invesco. Their fees differ too: 0.99% for PLTY and 0.08% for TBLL.

Which has better risk-adjusted returns?

TBLL currently has the higher Sharpe Ratio (20.52 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.