QBY vs. TSMY

Last updated Jun 27, 2026

QBY (GraniteShares YieldBOOST QBTS ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. QBY charges 1.07%/yr vs 0.99%/yr for TSMY.

Performance

QBY vs. TSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST QBTS ETF (QBY) and YieldMax TSM Option Income Strategy ETF (TSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QBY achieves a -27.51% return, which is significantly lower than TSMY's 35.95% return.

QBY

• 1D: 0.59%
• 1M: -1.98%
• YTD: -27.51%
• 6M: -27.14%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: -1.02%
• 1M: 1.67%
• YTD: 35.95%
• 6M: 36.83%
• 1Y: 71.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QBY vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025
QBY GraniteShares YieldBOOST QBTS ETF	-27.51%	-8.88%
TSMY YieldMax TSM Option Income Strategy ETF	35.95%	5.07%

Correlation

The correlation between QBY and TSMY is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025	0.33

Return for Risk

QBY vs. TSMY — Risk / Return Rank

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

QBY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

TSMY

TSMY Risk / Return Rank: 83
TSMY Sharpe Ratio Rank: 85
TSMY Sortino Ratio Rank: 76
TSMY Omega Ratio Rank: 76
TSMY Calmar Ratio Rank: 90
TSMY Martin Ratio Rank: 89

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.

QBY vs. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST QBTS ETF (QBY) and YieldMax TSM Option Income Strategy ETF (TSMY). 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.

	QBY	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.40	—
Sortino ratio: Return per unit of downside risk	—	2.98	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	4.80	—
Martin ratio: Return relative to average drawdown	—	17.25	—

Drawdowns

QBY vs. TSMY - Drawdown Comparison

The maximum QBY drawdown since its inception was -38.93%, which is greater than TSMY's maximum drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for QBY and TSMY.

Drawdown Indicators

	QBY	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-38.93%	-31.15%	-7.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-15.50%	—
Current Drawdown Current decline from peak	-34.47%	-5.86%	-28.61%
Average Drawdown Average peak-to-trough decline	-26.18%	-5.44%	-20.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.30%	—

Volatility

Volatility by Period

	QBY	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	13.44%	—
Volatility (6M) Calculated over the trailing 6-month period	—	25.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	31.49%	31.04%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.49%	33.86%	-2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.49%	33.86%	-2.37%

QBY vs. TSMY - Expense Ratio Comparison

QBY has a 1.07% expense ratio, which is higher than TSMY's 0.99% expense ratio.

Dividends

QBY vs. TSMY - Dividend Comparison

QBY's dividend yield for the trailing twelve months is around 119.67%, more than TSMY's 52.91% yield.

Position	TTM	2025	2024
QBY GraniteShares YieldBOOST QBTS ETF	119.67%	15.05%	0.00%
TSMY YieldMax TSM Option Income Strategy ETF	52.91%	56.76%	13.71%

Frequently Asked Questions

Can I hold both QBY and TSMY in my portfolio?

QBY and TSMY 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.

Which ETF is better, QBY or TSMY?

On fees, TSMY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QBY or TSMY?

TSMY is cheaper with a 0.99% expense ratio, compared with 1.07% for QBY.

Which ETF pays a higher dividend yield, QBY or TSMY?

QBY has the higher dividend yield at 119.67%, compared with 52.91% for TSMY.

What is the main difference between QBY and TSMY?

They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 1.07% for QBY and 0.99% for TSMY.