RBLY vs. ZHDG

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax RBLX Option Income Strategy ETF (RBLY) and ZEGA Buy and Hedge ETF (ZHDG).

RBLY and ZHDG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. RBLY is an actively managed fund by YieldMax. It was launched on Jul 28, 2025. ZHDG is an actively managed fund by ZEGA. It was launched on Jul 6, 2021.

Performance

RBLY vs. ZHDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax RBLX Option Income Strategy ETF (RBLY) and ZEGA Buy and Hedge ETF (ZHDG). The values are adjusted to include any dividend payments, if applicable.

RBLY vs. ZHDG - Yearly Performance Comparison

	2026 (YTD)	2025
RBLY YieldMax RBLX Option Income Strategy ETF	-27.26%	-24.82%
ZHDG ZEGA Buy and Hedge ETF	-5.54%	6.42%

Returns By Period

In the year-to-date period, RBLY achieves a -27.26% return, which is significantly lower than ZHDG's -5.54% return.

RBLY

• 1D: 0.78%
• 1M: -14.22%
• YTD: -27.26%
• 6M: -51.98%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZHDG

• 1D: 1.21%
• 1M: -4.81%
• YTD: -5.54%
• 6M: -3.88%
• 1Y: 12.97%
• 3Y*: 11.41%
• 5Y*: —
• 10Y*: —

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

RBLY vs. ZHDG - Expense Ratio Comparison

RBLY has a 0.99% expense ratio, which is higher than ZHDG's 0.98% expense ratio.

RBLY

YieldMax RBLX Option Income Strategy ETF

ZHDG

ZEGA Buy and Hedge ETF

Return for Risk

RBLY vs. ZHDG — Risk / Return Rank

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

ZHDG

ZHDG Risk / Return Rank: 57
ZHDG Sharpe Ratio Rank: 59
ZHDG Sortino Ratio Rank: 59
ZHDG Omega Ratio Rank: 52
ZHDG Calmar Ratio Rank: 54
ZHDG Martin Ratio Rank: 61

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.

RBLY vs. ZHDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax RBLX Option Income Strategy ETF (RBLY) and ZEGA Buy and Hedge ETF (ZHDG). 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.

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

Sharpe Ratios by Period

	RBLY	ZHDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.10	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.15	0.33	-1.48

Correlation

The correlation between RBLY and ZHDG is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

RBLY vs. ZHDG - Dividend Comparison

RBLY's dividend yield for the trailing twelve months is around 77.60%, more than ZHDG's 2.72% yield.

	TTM	2025	2024	2023	2022	2021
RBLY YieldMax RBLX Option Income Strategy ETF	77.60%	36.84%	0.00%	0.00%	0.00%	0.00%
ZHDG ZEGA Buy and Hedge ETF	2.72%	2.57%	2.59%	1.52%	3.58%	1.33%

Drawdowns

RBLY vs. ZHDG - Drawdown Comparison

The maximum RBLY drawdown since its inception was -57.43%, which is greater than ZHDG's maximum drawdown of -23.27%. Use the drawdown chart below to compare losses from any high point for RBLY and ZHDG.

Drawdown Indicators

	RBLY	ZHDG	Difference
Max Drawdown Largest peak-to-trough decline	-57.43%	-23.27%	-34.16%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.56%	—
Current Drawdown Current decline from peak	-53.79%	-6.25%	-47.54%
Average Drawdown Average peak-to-trough decline	-26.33%	-8.40%	-17.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.96%	—

Volatility

Volatility by Period

	RBLY	ZHDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	51.55%	11.80%	+39.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.55%	11.80%	+39.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.55%	11.80%	+39.75%