RBLY vs. PAPI
RBLY (YieldMax RBLX Option Income Strategy ETF) and PAPI (Parametric Equity Premium Income ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.06, they often move in opposite directions. RBLY charges 0.99%/yr vs 0.29%/yr for PAPI.
Performance
RBLY vs. PAPI - Performance Comparison
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Returns By Period
In the year-to-date period, RBLY achieves a -34.96% return, which is significantly lower than PAPI's 11.73% return.
RBLY
- 1D
- -4.33%
- 1M
- 7.84%
- 6M
- -36.31%
- YTD
- -34.96%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PAPI
- 1D
- 1.99%
- 1M
- 4.10%
- 6M
- 6.35%
- YTD
- 11.73%
- 1Y
- 17.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RBLY vs. PAPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
RBLY YieldMax RBLX Option Income Strategy ETF | -34.96% | -26.39% |
PAPI Parametric Equity Premium Income ETF | 11.73% | 3.98% |
Correlation
The correlation between RBLY and PAPI is -0.06, 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 (All Time) Calculated using the full available price history since Jul 29, 2025 | -0.06 |
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Return for Risk
RBLY vs. PAPI — Risk / Return Rank
RBLY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PAPI
RBLY vs. PAPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax RBLX Option Income Strategy ETF (RBLY) and Parametric Equity Premium Income ETF (PAPI). 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.
| RBLY | PAPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.54 | — |
| Martin ratioReturn relative to average drawdown | — | 6.27 | — |
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Drawdowns
RBLY vs. PAPI - Drawdown Comparison
The maximum RBLY drawdown since its inception was -66.96%, which is greater than PAPI's maximum drawdown of -14.27%. Use the drawdown chart below to compare losses from any high point for RBLY and PAPI.
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Drawdown Indicators
| RBLY | PAPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.96% | -14.27% | -52.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.86% | — |
Current DrawdownCurrent decline from peak | -58.69% | 0.00% | -58.69% |
Average DrawdownAverage peak-to-trough decline | -36.31% | -2.76% | -33.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.77% | — |
Volatility
RBLY vs. PAPI - Volatility Comparison
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Volatility by Period
| RBLY | PAPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 7.27% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 53.89% | 10.48% | +43.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.89% | 11.75% | +42.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.89% | 11.75% | +42.14% |
RBLY vs. PAPI - Expense Ratio Comparison
RBLY has a 0.99% expense ratio, which is higher than PAPI's 0.29% expense ratio.
Dividends
RBLY vs. PAPI - Dividend Comparison
RBLY's dividend yield for the trailing twelve months is around 128.92%, more than PAPI's 7.33% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
PAPI Parametric Equity Premium Income ETF | 7.33% | 7.59% | 7.07% | 1.45% |
RBLY YieldMax RBLX Option Income Strategy ETF | 128.92% | 36.84% | 0.00% | 0.00% |
Frequently Asked Questions
RBLY and PAPI have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PAPI is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PAPI is cheaper with a 0.29% expense ratio, compared with 0.99% for RBLY.
RBLY has the higher dividend yield at 128.92%, compared with 7.33% for PAPI.
They also come from different issuers: YieldMax and Morgan Stanley. Their fees differ too: 0.99% for RBLY and 0.29% for PAPI.
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