SNOY vs. CRSH

Last updated Jun 5, 2026

SNOY (YieldMax SNOW Option Income Strategy ETF) and CRSH (YieldMax Short TSLA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, SNOY returned 13.22% vs -18.98% for CRSH. At a correlation of -0.31, they often move in opposite directions. Both charge a 0.99% expense ratio.

Performance

SNOY vs. CRSH - Performance Comparison

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

Returns By Period

In the year-to-date period, SNOY achieves a 10.81% return, which is significantly higher than CRSH's 3.70% return.

SNOY

• 1D: 0.84%
• 1M: 63.46%
• YTD: 10.81%
• 6M: 5.59%
• 1Y: 13.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CRSH

• 1D: 0.54%
• 1M: -8.50%
• YTD: 3.70%
• 6M: 5.11%
• 1Y: -18.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNOY vs. CRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SNOY YieldMax SNOW Option Income Strategy ETF	10.81%	30.66%	21.03%
CRSH YieldMax Short TSLA Option Income Strategy ETF	3.70%	-13.40%	-54.57%

Correlation

The correlation between SNOY and CRSH is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (All Time) Calculated using the full available price history since Jun 12, 2024	-0.31

The correlation between SNOY and CRSH shifts across timeframes, from -0.31 (all time) to -0.17 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SNOY vs. CRSH — Risk / Return Rank

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

SNOY

SNOY Risk / Return Rank: 15
SNOY Sharpe Ratio Rank: 13
SNOY Sortino Ratio Rank: 18
SNOY Omega Ratio Rank: 18
SNOY Calmar Ratio Rank: 12
SNOY Martin Ratio Rank: 12

CRSH

CRSH Risk / Return Rank: 5
CRSH Sharpe Ratio Rank: 5
CRSH Sortino Ratio Rank: 5
CRSH Omega Ratio Rank: 5
CRSH Calmar Ratio Rank: 4
CRSH Martin Ratio Rank: 5

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.

SNOY vs. CRSH - Risk-Adjusted Trends Comparison

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

	SNOY	CRSH	Difference
Sharpe ratio: Return per unit of total volatility	0.23	-0.52	+0.75
Sortino ratio: Return per unit of downside risk	0.85	-0.54	+1.39
Omega ratio: Gain probability vs. loss probability	1.11	0.94	+0.18
Calmar ratio: Return relative to maximum drawdown	0.26	-0.57	+0.83
Martin ratio: Return relative to average drawdown	0.58	-0.90	+1.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNOY vs. CRSH - Sharpe Ratio Comparison

The current SNOY Sharpe Ratio is 0.23, which is higher than the CRSH Sharpe Ratio of -0.52. The chart below compares the historical Sharpe Ratios of SNOY and CRSH, 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

	SNOY	CRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.23	-0.52	+0.75
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	-0.70	+1.33

Drawdowns

SNOY vs. CRSH - Drawdown Comparison

The maximum SNOY drawdown since its inception was -50.90%, smaller than the maximum CRSH drawdown of -63.68%. Use the drawdown chart below to compare losses from any high point for SNOY and CRSH.

Drawdown Indicators

	SNOY	CRSH	Difference
Max Drawdown Largest peak-to-trough decline	-50.90%	-63.68%	+12.78%
Max Drawdown (1Y) Largest decline over 1 year	-50.90%	-33.45%	-17.45%
Current Drawdown Current decline from peak	-10.07%	-59.20%	+49.13%
Average Drawdown Average peak-to-trough decline	-12.74%	-43.15%	+30.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.97%	21.20%	+1.77%

Volatility

SNOY vs. CRSH - Volatility Comparison

YieldMax SNOW Option Income Strategy ETF (SNOY) has a higher volatility of 34.07% compared to YieldMax Short TSLA Option Income Strategy ETF (CRSH) at 10.19%. This indicates that SNOY's price experiences larger fluctuations and is considered to be riskier than CRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOY	CRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.07%	10.19%	+23.88%
Volatility (6M) Calculated over the trailing 6-month period	48.65%	22.67%	+25.98%
Volatility (1Y) Calculated over the trailing 1-year period	57.40%	36.71%	+20.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.21%	47.46%	+4.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.21%	47.46%	+4.75%

SNOY vs. CRSH - Expense Ratio Comparison

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

Dividends

SNOY vs. CRSH - Dividend Comparison

SNOY's dividend yield for the trailing twelve months is around 77.80%, less than CRSH's 97.46% yield.

Position	TTM	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	97.46%	138.78%	94.25%
SNOY YieldMax SNOW Option Income Strategy ETF	77.80%	84.96%	33.32%

Frequently Asked Questions

Can I hold both SNOY and CRSH in my portfolio?

SNOY and CRSH have a correlation of -0.17, 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 CRSH?

SNOY has higher volatility (34.07%) compared to CRSH (10.19%). In terms of maximum drawdown, SNOY dropped -50.90% vs CRSH's -63.68%.

Which ETF is better, SNOY or CRSH?

On 1-year performance, SNOY leads with 13.22% vs -18.98% for CRSH. Both ETFs have the same 0.99% expense ratio. On volatility, CRSH has been the lower-risk option at 10.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOY or CRSH?

Over the 1-year period, SNOY has performed better with a 13.22% return vs -18.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOY or CRSH?

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

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

CRSH has the higher dividend yield at 97.46%, compared with 77.80% for SNOY.

Which has better risk-adjusted returns?

SNOY currently has the higher Sharpe Ratio (0.23 vs -0.52), 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.