SCLZ vs. CHPY

Last updated Jun 23, 2026

SCLZ (Swan Enhanced Dividend Income ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SCLZ returned 17.10% vs 154.02% for CHPY. A 0.61 correlation means they provide meaningful diversification when combined. SCLZ charges 0.79%/yr vs 0.99%/yr for CHPY.

Performance

SCLZ vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Swan Enhanced Dividend Income ETF (SCLZ) 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, SCLZ achieves a 6.12% return, which is significantly lower than CHPY's 96.36% return.

SCLZ

• 1D: -0.49%
• 1M: 0.08%
• YTD: 6.12%
• 6M: 6.15%
• 1Y: 17.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPY

• 1D: 2.11%
• 1M: 19.19%
• YTD: 96.36%
• 6M: 96.20%
• 1Y: 154.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCLZ vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
SCLZ Swan Enhanced Dividend Income ETF	6.12%	11.45%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	96.36%	56.76%

Correlation

The correlation between SCLZ and CHPY is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.61

The correlation between SCLZ and CHPY has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.

Return for Risk

SCLZ vs. CHPY — Risk / Return Rank

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

SCLZ

SCLZ Risk / Return Rank: 57
SCLZ Sharpe Ratio Rank: 54
SCLZ Sortino Ratio Rank: 55
SCLZ Omega Ratio Rank: 58
SCLZ Calmar Ratio Rank: 51
SCLZ Martin Ratio Rank: 66

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 95
CHPY Omega Ratio Rank: 95
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.

SCLZ vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Swan Enhanced Dividend Income ETF (SCLZ) 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.

	SCLZ	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	1.80	4.88	-3.08
Sortino ratio: Return per unit of downside risk	2.55	4.94	-2.39
Omega ratio: Gain probability vs. loss probability	1.35	1.73	-0.38
Calmar ratio: Return relative to maximum drawdown	2.45	12.74	-10.28
Martin ratio: Return relative to average drawdown	11.67	45.23	-33.56

SCLZ vs. CHPY - Sharpe Ratio Comparison

The current SCLZ Sharpe Ratio is 1.80, which is lower than the CHPY Sharpe Ratio of 4.88. The chart below compares the historical Sharpe Ratios of SCLZ 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

SCLZ vs. CHPY - Drawdown Comparison

The maximum SCLZ drawdown since its inception was -12.58%, roughly equal to the maximum CHPY drawdown of -12.19%. Use the drawdown chart below to compare losses from any high point for SCLZ and CHPY.

Drawdown Indicators

	SCLZ	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-12.58%	-12.19%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.00%	-12.17%	+5.17%
Current Drawdown Current decline from peak	-0.73%	0.00%	-0.73%
Average Drawdown Average peak-to-trough decline	-1.36%	-2.12%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	3.42%	-1.95%

Volatility

SCLZ vs. CHPY - Volatility Comparison

The current volatility for Swan Enhanced Dividend Income ETF (SCLZ) is 3.14%, while YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a volatility of 17.94%. This indicates that SCLZ 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

	SCLZ	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	17.94%	-14.80%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	26.88%	-19.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.54%	31.79%	-22.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	35.81%	-24.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	35.81%	-24.41%

SCLZ vs. CHPY - Expense Ratio Comparison

SCLZ has a 0.79% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

SCLZ vs. CHPY - Dividend Comparison

SCLZ's dividend yield for the trailing twelve months is around 7.29%, less than CHPY's 27.58% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	27.58%	28.19%	0.00%
SCLZ Swan Enhanced Dividend Income ETF	7.29%	7.53%	4.86%

Frequently Asked Questions

Can I hold both SCLZ and CHPY in my portfolio?

SCLZ and CHPY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCLZ or CHPY?

CHPY has higher volatility (17.94%) compared to SCLZ (3.14%). In terms of maximum drawdown, SCLZ dropped -12.58% vs CHPY's -12.19%.

Which ETF is better, SCLZ or CHPY?

On 1-year performance, CHPY leads with 154.02% vs 17.10% for SCLZ. On fees, SCLZ is cheaper at 0.79% per year. On volatility, SCLZ has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCLZ or CHPY?

Over the 1-year period, CHPY has performed better with a 154.02% return vs 17.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCLZ or CHPY?

SCLZ is cheaper with a 0.79% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 27.58%, compared with 7.29% for SCLZ.

What is the main difference between SCLZ and CHPY?

They also come from different issuers: Swan and YieldMax. Their fees differ too: 0.79% for SCLZ and 0.99% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.88 vs 1.80), 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.