PNNT vs. ULTY
PNNT (PennantPark Investment Corporation) is a stock, while ULTY (YieldMax Ultra Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax. Over the past year, PNNT returned -33.82% vs 3.61% for ULTY. At a 0.37 correlation, their price movements are largely independent.
Performance
PNNT vs. ULTY - Performance Comparison
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Returns By Period
In the year-to-date period, PNNT achieves a -29.84% return, which is significantly lower than ULTY's 8.80% return.
PNNT
- 1D
- 1.58%
- 1M
- -8.53%
- YTD
- -29.84%
- 6M
- -27.65%
- 1Y
- -33.82%
- 3Y*
- 0.38%
- 5Y*
- 0.83%
- 10Y*
- 7.07%
ULTY
- 1D
- 1.04%
- 1M
- -0.81%
- YTD
- 8.80%
- 6M
- 8.04%
- 1Y
- 3.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PNNT vs. ULTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PNNT PennantPark Investment Corporation | -29.84% | -2.96% | 16.90% |
ULTY YieldMax Ultra Option Income Strategy ETF | 8.80% | -0.84% | -4.73% |
Correlation
The correlation between PNNT and ULTY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | 0.37 |
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Return for Risk
PNNT vs. ULTY — Risk / Return Rank
PNNT
ULTY
PNNT vs. ULTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Investment Corporation (PNNT) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.
| PNNT | ULTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.07 | ||
| Omega ratioGain probability vs. loss probability | 0.78 | 1.05 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 0.15 | -0.95 |
| Martin ratioReturn relative to average drawdown | -1.65 | 0.29 | -1.94 |
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Drawdowns
PNNT vs. ULTY - Drawdown Comparison
The maximum PNNT drawdown since its inception was -82.16%, which is greater than ULTY's maximum drawdown of -26.85%. Use the drawdown chart below to compare losses from any high point for PNNT and ULTY.
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Drawdown Indicators
| PNNT | ULTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -26.85% | -55.31% |
Max Drawdown (1Y)Largest decline over 1 year | -42.61% | -24.16% | -18.45% |
Max Drawdown (3Y)Largest decline over 3 years | -42.61% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | — | — |
Current DrawdownCurrent decline from peak | -40.28% | -10.79% | -29.49% |
Average DrawdownAverage peak-to-trough decline | -15.29% | -9.90% | -5.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.58% | 12.47% | +8.11% |
Volatility
PNNT vs. ULTY - Volatility Comparison
PennantPark Investment Corporation (PNNT) has a higher volatility of 9.97% compared to YieldMax Ultra Option Income Strategy ETF (ULTY) at 8.04%. This indicates that PNNT's price experiences larger fluctuations and is considered to be riskier than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNNT | ULTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.97% | 8.04% | +1.93% |
Volatility (6M)Calculated over the trailing 6-month period | 23.95% | 16.40% | +7.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.06% | 21.55% | +5.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.79% | 27.32% | -3.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.76% | 27.32% | +5.44% |
Dividends
PNNT vs. ULTY - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 24.94%, less than ULTY's 113.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | 24.94% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
ULTY YieldMax Ultra Option Income Strategy ETF | 113.38% | 142.99% | 111.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PNNT and ULTY have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (9.97%) compared to ULTY (8.04%). In terms of maximum drawdown, PNNT dropped -82.16% vs ULTY's -26.85%.
ULTY currently has the higher Sharpe Ratio (0.17 vs -1.25), 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.
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