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 -45.69% vs 19.14% for IVVW. Their 0.45 correlation means their historical movements had little consistent relationship. SMCY charges 1.01%/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 -2.66% return, which is significantly lower than IVVW's 8.65% return.
SMCY
- 1D
- 7.71%
- 1M
- 12.04%
- 6M
- -3.84%
- YTD
- -2.66%
- 1Y
- -45.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -27.19%
IVVW
- 1D
- 0.42%
- 1M
- 2.78%
- 6M
- 7.77%
- YTD
- 8.65%
- 1Y
- 19.14%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.92M | $2.07M | $2.67M | |
| $4.45M | $3.57M | $5.92M |
SMCY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMCY YieldMax SMCI Option Income Strategy ETF | -2.66% | -15.41% | -33.36% |
IVVW iShares S&P 500 BuyWrite ETF | 8.65% | 11.71% | 5.15% |
Correlation
The correlation between SMCY and IVVW is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 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 | -2.86 | ||
| Sortino ratioReturn per unit of downside risk | -3.63 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.47 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 3.31 | -4.09 |
| Martin ratioReturn relative to average drawdown | -1.21 | 17.16 | -18.37 |
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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 | -58.62% | -5.81% | -52.81% |
Current DrawdownCurrent decline from peak | -53.07% | 0.00% | -53.07% |
Average DrawdownAverage peak-to-trough decline | -38.46% | -1.67% | -36.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 38.56% | 1.12% | +37.44% |
Volatility
SMCY vs. IVVW - Volatility Comparison
YieldMax SMCI Option Income Strategy ETF (SMCY) has a higher volatility of 24.43% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 3.01%. 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 | 24.43% | 3.01% | +21.42% |
Volatility (6M)Calculated over the trailing 6-month period | 70.99% | 7.33% | +63.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 75.58% | 8.57% | +67.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.55% | 12.56% | +67.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.55% | 12.56% | +67.99% |
SMCY vs. IVVW - Expense Ratio Comparison
SMCY has a 1.01% 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 165.69%, more than IVVW's 18.43% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 18.43% | 18.55% | 13.72% |
SMCY YieldMax SMCI Option Income Strategy ETF | 165.69% | 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 (24.43%) compared to IVVW (3.01%). In terms of maximum drawdown, SMCY dropped -64.75% vs IVVW's -16.79%.
On 1-year performance, IVVW leads with 19.14% vs -45.69% for SMCY. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 3.01%. 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 19.14% return vs -45.69%. 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 1.01% for SMCY.
SMCY has the higher dividend yield at 165.69%, compared with 18.43% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for SMCY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.26 vs -0.61), 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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