SLTY vs. FYEE

Last updated Apr 1, 2026

Compare and contrast key facts about YieldMax Ultra Short Option Income Strategy ETF (SLTY) and Fidelity Yield Enhanced Equity ETF (FYEE).

SLTY and FYEE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SLTY is an actively managed fund by YieldMax. It was launched on Aug 20, 2025. FYEE is an actively managed fund by Fidelity. It was launched on Apr 9, 2024.

Performance

SLTY vs. FYEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Short Option Income Strategy ETF (SLTY) and Fidelity Yield Enhanced Equity ETF (FYEE). The values are adjusted to include any dividend payments, if applicable.

SLTY vs. FYEE - Yearly Performance Comparison

	2026 (YTD)	2025
SLTY YieldMax Ultra Short Option Income Strategy ETF	0.77%	-12.17%
FYEE Fidelity Yield Enhanced Equity ETF	-2.56%	9.39%

Returns By Period

In the year-to-date period, SLTY achieves a 0.77% return, which is significantly higher than FYEE's -2.56% return.

SLTY

• 1D: -1.88%
• 1M: 7.78%
• YTD: 0.77%
• 6M: -2.07%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FYEE

• 1D: 2.88%
• 1M: -3.70%
• YTD: -2.56%
• 6M: 1.84%
• 1Y: 17.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLTY vs. FYEE - Expense Ratio Comparison

SLTY has a 1.24% expense ratio, which is higher than FYEE's 0.28% expense ratio.

SLTY

YieldMax Ultra Short Option Income Strategy ETF

FYEE

Fidelity Yield Enhanced Equity ETF

Return for Risk

SLTY vs. FYEE — Risk / Return Rank

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

FYEE

FYEE Risk / Return Rank: 69
FYEE Sharpe Ratio Rank: 63
FYEE Sortino Ratio Rank: 64
FYEE Omega Ratio Rank: 75
FYEE Calmar Ratio Rank: 63
FYEE Martin Ratio Rank: 78

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. FYEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Short Option Income Strategy ETF (SLTY) and Fidelity Yield Enhanced Equity ETF (FYEE). 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	FYEE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.94	0.93	-1.87

Correlation

The correlation between SLTY and FYEE is -0.57. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SLTY vs. FYEE - Dividend Comparison

SLTY's dividend yield for the trailing twelve months is around 49.86%, more than FYEE's 8.31% yield.

	TTM	2025	2024
SLTY YieldMax Ultra Short Option Income Strategy ETF	49.86%	29.68%	0.00%
FYEE Fidelity Yield Enhanced Equity ETF	8.31%	7.08%	5.45%

Drawdowns

SLTY vs. FYEE - Drawdown Comparison

The maximum SLTY drawdown since its inception was -20.88%, which is greater than FYEE's maximum drawdown of -18.79%. Use the drawdown chart below to compare losses from any high point for SLTY and FYEE.

Drawdown Indicators

	SLTY	FYEE	Difference
Max Drawdown Largest peak-to-trough decline	-20.88%	-18.79%	-2.09%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.60%	—
Current Drawdown Current decline from peak	-11.49%	-4.72%	-6.77%
Average Drawdown Average peak-to-trough decline	-13.20%	-2.40%	-10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.20%	—

Volatility

Volatility by Period

	SLTY	FYEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.48%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.54%	15.89%	+3.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.54%	14.32%	+5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	14.32%	+5.22%