PYPY vs. PYPL

Last updated Apr 2, 2026

Compare and contrast key facts about Yieldmax PYPL Option Income Strategy ETF (PYPY) and PayPal Holdings, Inc. (PYPL).

PYPY is an actively managed fund by YieldMax. It was launched on Sep 25, 2023.

Performance

PYPY vs. PYPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Yieldmax PYPL Option Income Strategy ETF (PYPY) and PayPal Holdings, Inc. (PYPL). The values are adjusted to include any dividend payments, if applicable.

PYPY vs. PYPL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PYPY Yieldmax PYPL Option Income Strategy ETF	-21.27%	-30.17%	43.88%	6.09%
PYPL PayPal Holdings, Inc.	-23.32%	-31.44%	38.98%	4.21%

Returns By Period

In the year-to-date period, PYPY achieves a -21.27% return, which is significantly higher than PYPL's -23.32% return.

PYPY

• 1D: -0.34%
• 1M: 0.24%
• YTD: -21.27%
• 6M: -31.57%
• 1Y: -32.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PYPL

• 1D: -1.33%
• 1M: -1.90%
• YTD: -23.32%
• 6M: -32.69%
• 1Y: -32.12%
• 3Y*: -16.09%
• 5Y*: -28.93%
• 10Y*: 1.31%

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

Return for Risk

PYPY vs. PYPL — Risk / Return Rank

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

PYPY

PYPY Risk / Return Rank: 1
PYPY Sharpe Ratio Rank: 1
PYPY Sortino Ratio Rank: 1
PYPY Omega Ratio Rank: 1
PYPY Calmar Ratio Rank: 2
PYPY Martin Ratio Rank: 1

PYPL

PYPL Risk / Return Rank: 13
PYPL Sharpe Ratio Rank: 9
PYPL Sortino Ratio Rank: 12
PYPL Omega Ratio Rank: 11
PYPL Calmar Ratio Rank: 19
PYPL Martin Ratio Rank: 11

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.

PYPY vs. PYPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Yieldmax PYPL Option Income Strategy ETF (PYPY) and PayPal Holdings, Inc. (PYPL). 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.

	PYPY	PYPL	Difference
Sharpe ratio Return per unit of total volatility	-0.91	-0.78	-0.13
Sortino ratio Return per unit of downside risk	-1.10	-0.90	-0.19
Omega ratio Gain probability vs. loss probability	0.83	0.87	-0.04
Calmar ratio Return relative to maximum drawdown	-0.67	-0.63	-0.04
Martin ratio Return relative to average drawdown	-1.48	-1.41	-0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PYPY vs. PYPL - Sharpe Ratio Comparison

The current PYPY Sharpe Ratio is -0.91, which is comparable to the PYPL Sharpe Ratio of -0.78. The chart below compares the historical Sharpe Ratios of PYPY and PYPL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PYPY	PYPL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.91	-0.78	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.22	0.03	-0.24

Correlation

The correlation between PYPY and PYPL is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PYPY vs. PYPL - Dividend Comparison

PYPY's dividend yield for the trailing twelve months is around 77.04%, more than PYPL's 0.63% yield.

	TTM	2025	2024	2023
PYPY Yieldmax PYPL Option Income Strategy ETF	77.04%	64.68%	48.65%	5.70%
PYPL PayPal Holdings, Inc.	0.63%	0.24%	0.00%	0.00%

Drawdowns

PYPY vs. PYPL - Drawdown Comparison

The maximum PYPY drawdown since its inception was -53.64%, smaller than the maximum PYPL drawdown of -87.30%. Use the drawdown chart below to compare losses from any high point for PYPY and PYPL.

Drawdown Indicators

	PYPY	PYPL	Difference
Max Drawdown Largest peak-to-trough decline	-53.64%	-87.30%	+33.66%
Max Drawdown (1Y) Largest decline over 1 year	-47.14%	-49.92%	+2.78%
Max Drawdown (5Y) Largest decline over 5 years	—	-87.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-87.30%	—
Current Drawdown Current decline from peak	-47.84%	-85.46%	+37.62%
Average Drawdown Average peak-to-trough decline	-14.15%	-34.85%	+20.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.41%	22.16%	-0.75%

Volatility

PYPY vs. PYPL - Volatility Comparison

The current volatility for Yieldmax PYPL Option Income Strategy ETF (PYPY) is 8.45%, while PayPal Holdings, Inc. (PYPL) has a volatility of 9.51%. This indicates that PYPY experiences smaller price fluctuations and is considered to be less risky than PYPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PYPY	PYPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.45%	9.51%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	30.16%	33.39%	-3.23%
Volatility (1Y) Calculated over the trailing 1-year period	35.97%	41.35%	-5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.46%	41.99%	-10.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.46%	38.63%	-7.17%