SMCY vs. THTA

Last updated Jun 5, 2026

SMCY (YieldMax SMCI Option Income Strategy ETF) and THTA (SoFi Enhanced Yield ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SMCY returned 0.19% vs 16.57% for THTA. At a 0.16 correlation, their price movements are largely independent. SMCY charges 0.99%/yr vs 0.49%/yr for THTA.

Performance

SMCY vs. THTA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SMCI Option Income Strategy ETF (SMCY) and SoFi Enhanced Yield ETF (THTA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMCY achieves a 39.53% return, which is significantly higher than THTA's 6.88% return.

SMCY

• 1D: -0.72%
• 1M: 49.28%
• YTD: 39.53%
• 6M: 24.49%
• 1Y: 0.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THTA

• 1D: 0.02%
• 1M: 0.58%
• YTD: 6.88%
• 6M: 8.14%
• 1Y: 16.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SMCY vs. THTA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SMCY YieldMax SMCI Option Income Strategy ETF	39.53%	-15.41%	-33.07%
THTA SoFi Enhanced Yield ETF	6.88%	-10.24%	4.83%

Correlation

The correlation between SMCY and THTA is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Sep 13, 2024	0.16

Return for Risk

SMCY vs. THTA — Risk / Return Rank

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

SMCY

SMCY Risk / Return Rank: 11
SMCY Sharpe Ratio Rank: 9
SMCY Sortino Ratio Rank: 12
SMCY Omega Ratio Rank: 14
SMCY Calmar Ratio Rank: 9
SMCY Martin Ratio Rank: 9

THTA

THTA Risk / Return Rank: 93
THTA Sharpe Ratio Rank: 87
THTA Sortino Ratio Rank: 91
THTA Omega Ratio Rank: 95
THTA Calmar Ratio Rank: 92
THTA Martin Ratio Rank: 97

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.

SMCY vs. THTA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SMCI Option Income Strategy ETF (SMCY) and SoFi Enhanced Yield ETF (THTA). 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.

	SMCY	THTA	Difference
Sharpe ratio: Return per unit of total volatility	0.00	2.87	-2.87
Sortino ratio: Return per unit of downside risk	0.46	4.24	-3.79
Omega ratio: Gain probability vs. loss probability	1.07	1.74	-0.67
Calmar ratio: Return relative to maximum drawdown	0.00	6.31	-6.31
Martin ratio: Return relative to average drawdown	0.01	51.45	-51.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMCY vs. THTA - Sharpe Ratio Comparison

The current SMCY Sharpe Ratio is 0.00, which is lower than the THTA Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of SMCY and THTA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SMCY	THTA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.00	2.87	-2.87
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	0.08	-0.24

Drawdowns

SMCY vs. THTA - Drawdown Comparison

The maximum SMCY drawdown since its inception was -64.75%, which is greater than THTA's maximum drawdown of -31.41%. Use the drawdown chart below to compare losses from any high point for SMCY and THTA.

Drawdown Indicators

	SMCY	THTA	Difference
Max Drawdown Largest peak-to-trough decline	-64.75%	-31.41%	-33.34%
Max Drawdown (1Y) Largest decline over 1 year	-60.43%	-2.64%	-57.79%
Current Drawdown Current decline from peak	-32.73%	-6.77%	-25.96%
Average Drawdown Average peak-to-trough decline	-37.01%	-7.51%	-29.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.90%	0.32%	+34.58%

Volatility

SMCY vs. THTA - Volatility Comparison

YieldMax SMCI Option Income Strategy ETF (SMCY) has a higher volatility of 24.80% compared to SoFi Enhanced Yield ETF (THTA) at 0.75%. This indicates that SMCY's price experiences larger fluctuations and is considered to be riskier than THTA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCY	THTA	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.80%	0.75%	+24.05%
Volatility (6M) Calculated over the trailing 6-month period	56.00%	4.00%	+52.00%
Volatility (1Y) Calculated over the trailing 1-year period	64.51%	5.79%	+58.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	77.45%	20.23%	+57.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	77.45%	20.23%	+57.22%

SMCY vs. THTA - Expense Ratio Comparison

SMCY has a 0.99% expense ratio, which is higher than THTA's 0.49% expense ratio.

Dividends

SMCY vs. THTA - Dividend Comparison

SMCY's dividend yield for the trailing twelve months is around 157.96%, more than THTA's 11.26% yield.

Position	TTM	2025	2024	2023
SMCY YieldMax SMCI Option Income Strategy ETF	157.96%	231.43%	38.43%	0.00%
THTA SoFi Enhanced Yield ETF	11.26%	12.66%	12.44%	0.58%

Frequently Asked Questions

Can I hold both SMCY and THTA in my portfolio?

SMCY and THTA have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCY or THTA?

SMCY has higher volatility (24.80%) compared to THTA (0.75%). In terms of maximum drawdown, SMCY dropped -64.75% vs THTA's -31.41%.

Which ETF is better, SMCY or THTA?

On 1-year performance, THTA leads with 16.57% vs 0.19% for SMCY. On fees, THTA is cheaper at 0.49% per year. On volatility, THTA has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SMCY or THTA?

Over the 1-year period, THTA has performed better with a 16.57% return vs 0.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SMCY or THTA?

THTA is cheaper with a 0.49% expense ratio, compared with 0.99% for SMCY.

Which ETF pays a higher dividend yield, SMCY or THTA?

SMCY has the higher dividend yield at 157.96%, compared with 11.26% for THTA.

What is the main difference between SMCY and THTA?

They also come from different issuers: YieldMax and SoFi. Their fees differ too: 0.99% for SMCY and 0.49% for THTA.

Which has better risk-adjusted returns?

THTA currently has the higher Sharpe Ratio (2.87 vs 0.00), 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.