SNOY vs. SMCY

Last updated Jun 25, 2026

SNOY (YieldMax SNOW Option Income Strategy ETF) and SMCY (YieldMax SMCI Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, SNOY returned 4.03% vs -27.84% for SMCY. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

SNOY vs. SMCY - Performance Comparison

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

Returns By Period

In the year-to-date period, SNOY achieves a 7.77% return, which is significantly higher than SMCY's -0.35% return.

SNOY

• 1D: -1.41%
• 1M: 37.61%
• YTD: 7.77%
• 6M: 7.39%
• 1Y: 4.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMCY

• 1D: -1.79%
• 1M: -10.03%
• YTD: -0.35%
• 6M: -3.24%
• 1Y: -27.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNOY vs. SMCY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SNOY YieldMax SNOW Option Income Strategy ETF	7.77%	30.66%	28.70%
SMCY YieldMax SMCI Option Income Strategy ETF	-0.35%	-15.41%	-33.36%

Correlation

The correlation between SNOY and SMCY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	0.27

Return for Risk

SNOY vs. SMCY — Risk / Return Rank

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

SNOY

SNOY Risk / Return Rank: 11
SNOY Sharpe Ratio Rank: 10
SNOY Sortino Ratio Rank: 13
SNOY Omega Ratio Rank: 13
SNOY Calmar Ratio Rank: 10
SNOY Martin Ratio Rank: 10

SMCY

SMCY Risk / Return Rank: 6
SMCY Sharpe Ratio Rank: 6
SMCY Sortino Ratio Rank: 7
SMCY Omega Ratio Rank: 7
SMCY Calmar Ratio Rank: 5
SMCY Martin Ratio Rank: 6

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. SMCY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax SNOW Option Income Strategy ETF (SNOY) and YieldMax SMCI Option Income Strategy ETF (SMCY). 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	SMCY	Difference
Sharpe ratio: Return per unit of total volatility	0.07	-0.39	+0.46
Sortino ratio: Return per unit of downside risk	0.59	-0.08	+0.67
Omega ratio: Gain probability vs. loss probability	1.08	0.99	+0.09
Calmar ratio: Return relative to maximum drawdown	0.08	-0.46	+0.54
Martin ratio: Return relative to average drawdown	0.17	-0.77	+0.94

SNOY vs. SMCY - Sharpe Ratio Comparison

The current SNOY Sharpe Ratio is 0.07, which is higher than the SMCY Sharpe Ratio of -0.39. The chart below compares the historical Sharpe Ratios of SNOY and SMCY, 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. SMCY - Drawdown Comparison

The maximum SNOY drawdown since its inception was -50.90%, smaller than the maximum SMCY drawdown of -64.75%. Use the drawdown chart below to compare losses from any high point for SNOY and SMCY.

Drawdown Indicators

	SNOY	SMCY	Difference
Max Drawdown Largest peak-to-trough decline	-50.90%	-64.75%	+13.85%
Max Drawdown (1Y) Largest decline over 1 year	-50.90%	-60.43%	+9.53%
Current Drawdown Current decline from peak	-12.54%	-51.95%	+39.41%
Average Drawdown Average peak-to-trough decline	-12.66%	-37.31%	+24.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.10%	36.34%	-13.24%

Volatility

SNOY vs. SMCY - Volatility Comparison

The current volatility for YieldMax SNOW Option Income Strategy ETF (SNOY) is 34.28%, while YieldMax SMCI Option Income Strategy ETF (SMCY) has a volatility of 41.41%. This indicates that SNOY experiences smaller price fluctuations and is considered to be less risky than SMCY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOY	SMCY	Difference
Volatility (1M) Calculated over the trailing 1-month period	34.28%	41.41%	-7.13%
Volatility (6M) Calculated over the trailing 6-month period	47.67%	67.08%	-19.41%
Volatility (1Y) Calculated over the trailing 1-year period	57.61%	72.25%	-14.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.63%	80.58%	-28.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.63%	80.58%	-28.95%

SNOY vs. SMCY - Expense Ratio Comparison

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

Dividends

SNOY vs. SMCY - Dividend Comparison

SNOY's dividend yield for the trailing twelve months is around 74.29%, less than SMCY's 203.19% yield.

Position	TTM	2025	2024
SMCY YieldMax SMCI Option Income Strategy ETF	203.19%	231.43%	38.43%
SNOY YieldMax SNOW Option Income Strategy ETF	74.29%	84.96%	33.32%

Frequently Asked Questions

Can I hold both SNOY and SMCY in my portfolio?

SNOY and SMCY have a correlation of 0.22, 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 SMCY?

SMCY has higher volatility (41.41%) compared to SNOY (34.28%). In terms of maximum drawdown, SNOY dropped -50.90% vs SMCY's -64.75%.

Which ETF is better, SNOY or SMCY?

On 1-year performance, SNOY leads with 4.03% vs -27.84% for SMCY. Both ETFs have the same 0.99% expense ratio. On volatility, SNOY has been the lower-risk option at 34.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SNOY or SMCY?

Over the 1-year period, SNOY has performed better with a 4.03% return vs -27.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SNOY or SMCY?

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

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

SMCY has the higher dividend yield at 203.19%, compared with 74.29% for SNOY.

Which has better risk-adjusted returns?

SNOY currently has the higher Sharpe Ratio (0.07 vs -0.39), 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.