PPH vs. CHPY

Last updated Jun 16, 2026

PPH (VanEck Pharmaceutical ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - PPH is a Health & Biotech Equities fund tracking the MVIS US Listed Pharmaceutical 25 Index, while CHPY is a Derivative Income fund actively managed by YieldMax. PPH is passively managed, while CHPY is actively managed. Over the past year, PPH returned 18.69% vs 148.83% for CHPY. At a 0.17 correlation, their price movements are largely independent. PPH charges 0.36%/yr vs 0.99%/yr for CHPY.

Performance

PPH vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Pharmaceutical ETF (PPH) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPH achieves a 2.96% return, which is significantly lower than CHPY's 88.78% return.

PPH

• 1D: -1.04%
• 1M: 4.48%
• YTD: 2.96%
• 6M: 3.80%
• 1Y: 18.69%
• 3Y*: 12.38%
• 5Y*: 9.47%
• 10Y*: 8.39%

CHPY

• 1D: 5.00%
• 1M: 22.07%
• YTD: 88.78%
• 6M: 92.44%
• 1Y: 148.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PPH vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
PPH VanEck Pharmaceutical ETF	2.96%	17.30%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	88.78%	56.76%

Correlation

The correlation between PPH and CHPY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.17

Return for Risk

PPH vs. CHPY — Risk / Return Rank

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

PPH

PPH Risk / Return Rank: 34
PPH Sharpe Ratio Rank: 32
PPH Sortino Ratio Rank: 35
PPH Omega Ratio Rank: 31
PPH Calmar Ratio Rank: 38
PPH Martin Ratio Rank: 32

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

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.

PPH vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Pharmaceutical ETF (PPH) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.

	PPH	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	1.07	4.83	-3.76
Sortino ratio: Return per unit of downside risk	1.70	4.95	-3.25
Omega ratio: Gain probability vs. loss probability	1.20	1.73	-0.54
Calmar ratio: Return relative to maximum drawdown	1.74	12.31	-10.56
Martin ratio: Return relative to average drawdown	4.30	43.93	-39.63

PPH vs. CHPY - Sharpe Ratio Comparison

The current PPH Sharpe Ratio is 1.07, which is lower than the CHPY Sharpe Ratio of 4.83. The chart below compares the historical Sharpe Ratios of PPH and CHPY, 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

PPH vs. CHPY - Drawdown Comparison

The maximum PPH drawdown since its inception was -51.45%, which is greater than CHPY's maximum drawdown of -12.19%. Use the drawdown chart below to compare losses from any high point for PPH and CHPY.

Drawdown Indicators

	PPH	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-51.45%	-12.19%	-39.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-12.17%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.70%	—	—
Current Drawdown Current decline from peak	-4.90%	0.00%	-4.90%
Average Drawdown Average peak-to-trough decline	-17.29%	-2.12%	-15.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	3.40%	+1.05%

Volatility

PPH vs. CHPY - Volatility Comparison

The current volatility for VanEck Pharmaceutical ETF (PPH) is 5.95%, while YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a volatility of 17.55%. This indicates that PPH experiences smaller price fluctuations and is considered to be less risky than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPH	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.95%	17.55%	-11.60%
Volatility (6M) Calculated over the trailing 6-month period	12.18%	26.62%	-14.44%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	31.06%	-13.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.14%	35.45%	-20.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	35.45%	-18.45%

PPH vs. CHPY - Expense Ratio Comparison

PPH has a 0.36% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

PPH vs. CHPY - Dividend Comparison

PPH's dividend yield for the trailing twelve months is around 2.05%, less than CHPY's 28.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.02%	28.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PPH VanEck Pharmaceutical ETF	2.05%	1.78%	1.98%	2.09%	1.55%	1.62%	1.66%	1.77%	1.97%	1.92%	2.43%	1.93%

Frequently Asked Questions

Can I hold both PPH and CHPY in my portfolio?

PPH and CHPY have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPH or CHPY?

CHPY has higher volatility (17.55%) compared to PPH (5.95%). In terms of maximum drawdown, PPH dropped -51.45% vs CHPY's -12.19%.

Which ETF is better, PPH or CHPY?

On 1-year performance, CHPY leads with 148.83% vs 18.69% for PPH. On fees, PPH is cheaper at 0.36% per year. On volatility, PPH has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPH or CHPY?

Over the 1-year period, CHPY has performed better with a 148.83% return vs 18.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPH or CHPY?

PPH is cheaper with a 0.36% expense ratio, compared with 0.99% for CHPY.

Which ETF pays a higher dividend yield, PPH or CHPY?

CHPY has the higher dividend yield at 28.02%, compared with 2.05% for PPH.

What is the main difference between PPH and CHPY?

PPH is categorized as Health & Biotech Equities, while CHPY is Derivative Income. They also come from different issuers: VanEck and YieldMax. Their fees differ too: 0.36% for PPH and 0.99% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.83 vs 1.07), 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.