SLTY vs. ESML

Last updated Jun 4, 2026

SLTY (YieldMax Ultra Short Option Income Strategy ETF) and ESML (iShares ESG Aware MSCI USA Small-Cap ETF) are both exchange-traded funds - SLTY is a Derivative Income fund actively managed by YieldMax, while ESML is a Small Cap Growth Equities fund tracking the MSCI USA Small Cap Extended ESG Focus Index. SLTY is actively managed, while ESML is passively managed. At a correlation of -0.64, they often move in opposite directions. SLTY charges 1.24%/yr vs 0.17%/yr for ESML.

Performance

SLTY vs. ESML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Short Option Income Strategy ETF (SLTY) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLTY achieves a -6.01% return, which is significantly lower than ESML's 16.26% return.

SLTY

• 1D: 0.65%
• 1M: -1.73%
• YTD: -6.01%
• 6M: -5.54%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ESML

• 1D: -0.47%
• 1M: 3.86%
• YTD: 16.26%
• 6M: 15.99%
• 1Y: 34.21%
• 3Y*: 17.27%
• 5Y*: 7.18%
• 10Y*: —

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

SLTY vs. ESML - Yearly Performance Comparison

	2026 (YTD)	2025
SLTY YieldMax Ultra Short Option Income Strategy ETF	-6.01%	-12.17%
ESML iShares ESG Aware MSCI USA Small-Cap ETF	16.26%	7.80%

Correlation

The correlation between SLTY and ESML is -0.64, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 22, 2025	-0.64

Return for Risk

SLTY vs. ESML — Risk / Return Rank

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

ESML

ESML Risk / Return Rank: 66
ESML Sharpe Ratio Rank: 61
ESML Sortino Ratio Rank: 62
ESML Omega Ratio Rank: 57
ESML Calmar Ratio Rank: 75
ESML Martin Ratio Rank: 74

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.

SLTY vs. ESML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Short Option Income Strategy ETF (SLTY) and iShares ESG Aware MSCI USA Small-Cap ETF (ESML). 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

	SLTY	ESML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.07	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.19	0.46	-1.65

Drawdowns

SLTY vs. ESML - Drawdown Comparison

The maximum SLTY drawdown since its inception was -20.88%, smaller than the maximum ESML drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for SLTY and ESML.

Drawdown Indicators

	SLTY	ESML	Difference
Max Drawdown Largest peak-to-trough decline	-20.88%	-41.97%	+21.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.61%	—
Current Drawdown Current decline from peak	-17.45%	-0.47%	-16.98%
Average Drawdown Average peak-to-trough decline	-13.72%	-8.97%	-4.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.45%	—

Volatility

Volatility by Period

	SLTY	ESML	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.25%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.42%	16.66%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.42%	21.23%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.42%	23.40%	-4.98%

SLTY vs. ESML - Expense Ratio Comparison

SLTY has a 1.24% expense ratio, which is higher than ESML's 0.17% expense ratio.

Dividends

SLTY vs. ESML - Dividend Comparison

SLTY's dividend yield for the trailing twelve months is around 74.24%, more than ESML's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ESML iShares ESG Aware MSCI USA Small-Cap ETF	0.95%	1.08%	1.22%	1.31%	1.46%	0.94%	0.99%	1.10%	1.07%
SLTY YieldMax Ultra Short Option Income Strategy ETF	74.24%	29.68%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SLTY and ESML in my portfolio?

SLTY and ESML have a correlation of -0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SLTY or ESML?

On fees, ESML is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SLTY or ESML?

ESML is cheaper with a 0.17% expense ratio, compared with 1.24% for SLTY.

Which ETF pays a higher dividend yield, SLTY or ESML?

SLTY has the higher dividend yield at 74.24%, compared with 0.95% for ESML.

What is the main difference between SLTY and ESML?

SLTY is categorized as Derivative Income, while ESML is Small Cap Growth Equities. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.24% for SLTY and 0.17% for ESML.