SDTY vs. HYGW
SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. SDTY is actively managed, while HYGW is passively managed. Over the past year, SDTY returned 21.18% vs 6.23% for HYGW. Their 0.58 correlation means they have sometimes moved together and sometimes differently. SDTY charges 1.01%/yr vs 0.69%/yr for HYGW.
Performance
SDTY vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, SDTY achieves a 10.44% return, which is significantly higher than HYGW's 2.68% return.
SDTY
- 1D
- 1.26%
- 1M
- 2.69%
- 6M
- 8.01%
- YTD
- 10.44%
- 1Y
- 21.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 13.76%
HYGW
- 1D
- 0.31%
- 1M
- 0.35%
- 6M
- 2.13%
- YTD
- 2.68%
- 1Y
- 6.23%
- 3Y*
- 5.49%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $507.28K | $613.90K | $793.25K | |
| $537.49K | $460.25K | $563.86K |
SDTY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF | 10.44% | 9.67% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.68% | 5.26% |
Correlation
The correlation between SDTY and HYGW is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025 | 0.58 |
The correlation between SDTY and HYGW has been stable across timeframes, ranging from 0.58 to 0.58 - a consistent structural relationship.
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Return for Risk
SDTY vs. HYGW — Risk / Return Rank
SDTY
HYGW
SDTY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| SDTY | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.44 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 3.44 | -0.79 |
| Martin ratioReturn relative to average drawdown | 10.57 | 15.37 | -4.80 |
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Drawdowns
SDTY vs. HYGW - Drawdown Comparison
The maximum SDTY drawdown since its inception was -18.63%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for SDTY and HYGW.
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Drawdown Indicators
| SDTY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.63% | -5.49% | -13.14% |
Max Drawdown (1Y)Largest decline over 1 year | -8.02% | -1.82% | -6.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.84% | -0.59% | -2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 0.41% | +1.60% |
Volatility
SDTY vs. HYGW - Volatility Comparison
YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) has a higher volatility of 3.66% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.86%. This indicates that SDTY's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDTY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.66% | 0.86% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 9.38% | 2.34% | +7.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.92% | 2.94% | +8.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.48% | 4.62% | +11.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.48% | 4.62% | +11.86% |
SDTY vs. HYGW - Expense Ratio Comparison
SDTY has a 1.01% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
SDTY vs. HYGW - Dividend Comparison
SDTY's dividend yield for the trailing twelve months is around 26.85%, more than HYGW's 10.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.67% | 12.53% | 12.30% | 15.98% | 8.71% |
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF | 26.85% | 22.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SDTY and HYGW have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDTY has higher volatility (3.66%) compared to HYGW (0.86%). In terms of maximum drawdown, SDTY dropped -18.63% vs HYGW's -5.49%.
On 1-year performance, SDTY leads with 21.18% vs 6.23% for HYGW. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SDTY has performed better with a 21.18% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYGW is cheaper with a 0.69% expense ratio, compared with 1.01% for SDTY.
SDTY has the higher dividend yield at 26.85%, compared with 10.67% for HYGW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for SDTY and 0.69% for HYGW.
HYGW currently has the higher Sharpe Ratio (2.13 vs 1.79), 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.
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