SMCY vs. IVVW
SMCY (YieldMax SMCI Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. SMCY is actively managed, while IVVW is passively managed. Over the past year, SMCY returned -33.89% vs 16.51% for IVVW. At a 0.45 correlation, their price movements are largely independent. SMCY charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
SMCY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, SMCY achieves a -2.36% return, which is significantly lower than IVVW's 4.04% return.
SMCY
- 1D
- -2.02%
- 1M
- -14.96%
- YTD
- -2.36%
- 6M
- -5.19%
- 1Y
- -33.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.02%
- 1M
- -0.15%
- YTD
- 4.04%
- 6M
- 3.95%
- 1Y
- 16.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMCY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCY YieldMax SMCI Option Income Strategy ETF | -2.36% | -15.41% | -33.36% |
IVVW iShares S&P 500 BuyWrite ETF | 4.04% | 11.71% | 5.15% |
Correlation
The correlation between SMCY and IVVW is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024 | 0.45 |
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Return for Risk
SMCY vs. IVVW — Risk / Return Rank
SMCY
IVVW
SMCY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax SMCI Option Income Strategy ETF (SMCY) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| SMCY | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.54 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.45 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.85 | -3.41 |
| Martin ratioReturn relative to average drawdown | -0.93 | 15.15 | -16.08 |
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Drawdowns
SMCY vs. IVVW - Drawdown Comparison
The maximum SMCY drawdown since its inception was -64.75%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for SMCY and IVVW.
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Drawdown Indicators
| SMCY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.75% | -16.79% | -47.96% |
Max Drawdown (1Y)Largest decline over 1 year | -60.43% | -5.81% | -54.62% |
Current DrawdownCurrent decline from peak | -52.93% | -1.35% | -51.58% |
Average DrawdownAverage peak-to-trough decline | -37.34% | -1.73% | -35.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.46% | 1.09% | +35.37% |
Volatility
SMCY vs. IVVW - Volatility Comparison
YieldMax SMCI Option Income Strategy ETF (SMCY) has a higher volatility of 41.21% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.42%. This indicates that SMCY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMCY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 41.21% | 3.42% | +37.79% |
Volatility (6M)Calculated over the trailing 6-month period | 67.11% | 6.89% | +60.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 72.15% | 8.02% | +64.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.50% | 12.67% | +67.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.50% | 12.67% | +67.83% |
SMCY vs. IVVW - Expense Ratio Comparison
SMCY has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
SMCY vs. IVVW - Dividend Comparison
SMCY's dividend yield for the trailing twelve months is around 211.43%, more than IVVW's 19.86% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% |
SMCY YieldMax SMCI Option Income Strategy ETF | 211.43% | 231.43% | 38.43% |
Frequently Asked Questions
SMCY and IVVW have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMCY has higher volatility (41.21%) compared to IVVW (3.42%). In terms of maximum drawdown, SMCY dropped -64.75% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 16.51% vs -33.89% for SMCY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVW has performed better with a 16.51% return vs -33.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for SMCY.
SMCY has the higher dividend yield at 211.43%, compared with 19.86% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for SMCY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.07 vs -0.47), 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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