SNOY vs. BABO

Last updated Aug 2, 2026

SNOY (YieldMax SNOW Option Income Strategy ETF) and BABO (YieldMax BABA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, SNOY returned 35.92% vs 1.60% for BABO. Their 0.14 correlation means their historical movements had little consistent relationship. Both charge a 0.99% expense ratio.

Performance

SNOY vs. BABO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax SNOW Option Income Strategy ETF (SNOY) and YieldMax BABA Option Income Strategy ETF (BABO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNOY achieves a 32.13% return, which is significantly higher than BABO's -15.94% return.

SNOY

• 1D: -2.06%
• 1M: 12.09%
• 6M: 48.18%
• YTD: 32.13%
• 1Y: 35.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.34%

BABO

• 1D: 3.50%
• 1M: 21.29%
• 6M: -25.18%
• YTD: -15.94%
• 1Y: 1.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BABO YieldMax BABA Option Income Strategy ETF	$214.70K	$279.41K	$371.42K
SNOY YieldMax SNOW Option Income Strategy ETF	$2.23M	$1.69M	$1.13M

SNOY vs. BABO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SNOY YieldMax SNOW Option Income Strategy ETF	32.13%	30.66%	32.79%
BABO YieldMax BABA Option Income Strategy ETF	-15.94%	46.84%	0.65%

Correlation

The correlation between SNOY and BABO is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Aug 8, 2024	0.14

Return for Risk

SNOY vs. BABO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SNOY

SNOY Risk / Return Rank: 25
SNOY Sharpe Ratio Rank: 22
SNOY Sortino Ratio Rank: 32
SNOY Omega Ratio Rank: 33
SNOY Calmar Ratio Rank: 20
SNOY Martin Ratio Rank: 19

BABO

BABO Risk / Return Rank: 11
BABO Sharpe Ratio Rank: 10
BABO Sortino Ratio Rank: 12
BABO Omega Ratio Rank: 12
BABO Calmar Ratio Rank: 11
BABO Martin Ratio Rank: 10

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SNOY vs. BABO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SNOW Option Income Strategy ETF (SNOY) and YieldMax BABA Option Income Strategy ETF (BABO). 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.

	SNOY	BABO	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-0.03	+0.48
Sortino ratio: Return per unit of downside risk	1.19	0.24	+0.95
Omega ratio: Gain probability vs. loss probability	1.16	1.03	+0.13
Calmar ratio: Return relative to maximum drawdown	0.51	-0.03	+0.54
Martin ratio: Return relative to average drawdown	1.13	-0.05	+1.19

SNOY vs. BABO - Sharpe Ratio Comparison

The current SNOY Sharpe Ratio is 0.45, which is higher than the BABO Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of SNOY and BABO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SNOY vs. BABO - Drawdown Comparison

The maximum SNOY drawdown since its inception was -50.90%, which is greater than BABO's maximum drawdown of -42.63%. Use the drawdown chart below to compare losses from any high point for SNOY and BABO.

Drawdown Indicators

	SNOY	BABO	Difference
Max Drawdown Largest peak-to-trough decline	-50.90%	-42.63%	-8.27%
Max Drawdown (1Y) Largest decline over 1 year	-50.90%	-42.63%	-8.27%
Current Drawdown Current decline from peak	-2.06%	-29.38%	+27.32%
Average Drawdown Average peak-to-trough decline	-12.16%	-15.33%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.11%	20.00%	+3.11%

Volatility

SNOY vs. BABO - Volatility Comparison

The current volatility for YieldMax SNOW Option Income Strategy ETF (SNOY) is 6.86%, while YieldMax BABA Option Income Strategy ETF (BABO) has a volatility of 11.95%. This indicates that SNOY experiences smaller price fluctuations and is considered to be less risky than BABO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOY	BABO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	11.95%	-5.09%
Volatility (6M) Calculated over the trailing 6-month period	47.35%	24.78%	+22.57%
Volatility (1Y) Calculated over the trailing 1-year period	58.05%	36.71%	+21.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.80%	36.86%	+13.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.80%	36.86%	+13.94%

SNOY vs. BABO - Expense Ratio Comparison

Both SNOY and BABO have an expense ratio of 0.99%.

Dividends

SNOY vs. BABO - Dividend Comparison

SNOY's dividend yield for the trailing twelve months is around 71.03%, less than BABO's 95.83% yield.

Position	TTM	2025	2024
BABO YieldMax BABA Option Income Strategy ETF	95.83%	85.50%	20.65%
SNOY YieldMax SNOW Option Income Strategy ETF	71.03%	84.96%	33.32%

Frequently Asked Questions

Can I hold both SNOY and BABO in my portfolio?

SNOY and BABO have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOY or BABO?

BABO has higher volatility (11.95%) compared to SNOY (6.86%). In terms of maximum drawdown, SNOY dropped -50.90% vs BABO's -42.63%.

Which ETF is better, SNOY or BABO?

On 1-year performance, SNOY leads with 35.92% vs 1.60% for BABO. Both ETFs have the same 0.99% expense ratio. On volatility, SNOY has been the lower-risk option at 6.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOY or BABO?

Over the 1-year period, SNOY has performed better with a 35.92% return vs 1.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOY or BABO?

SNOY and BABO have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, SNOY or BABO?

BABO has the higher dividend yield at 95.83%, compared with 71.03% for SNOY.

Which has better risk-adjusted returns?

SNOY currently has the higher Sharpe Ratio (0.45 vs -0.03), 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.