SOXY vs. BUYW

Last updated Jun 4, 2026

SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SOXY returned 154.02% vs 9.76% for BUYW. A 0.52 correlation means they provide meaningful diversification when combined. SOXY charges 0.99%/yr vs 1.29%/yr for BUYW.

Performance

SOXY vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SOXY achieves a 89.69% return, which is significantly higher than BUYW's 3.39% return.

SOXY

• 1D: 0.87%
• 1M: 31.46%
• YTD: 89.69%
• 6M: 88.39%
• 1Y: 154.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

SOXY vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	89.69%	37.00%	-1.18%
BUYW Main Buywrite ETF	3.39%	9.08%	0.00%

Correlation

The correlation between SOXY and BUYW is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.52

The correlation between SOXY and BUYW shifts across timeframes, from 0.38 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

SOXY vs. BUYW - Sectors Allocation Comparison

Sectors	SOXY	BUYW
Technology	100.0%	24.0%
Consumer Defensive	0.0%	3.2%
Financial Services	0.0%	15.3%
Industrials	0.0%	4.4%
Basic Materials	-	1.0%
Communication Services	-	16.9%
Consumer Cyclical	-	6.4%
Energy	-	13.6%
Healthcare	-	13.0%
Real Estate	-	1.0%
Utilities	-	1.3%

Return for Risk

SOXY vs. BUYW — Risk / Return Rank

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

SOXY

SOXY Risk / Return Rank: 96
SOXY Sharpe Ratio Rank: 98
SOXY Sortino Ratio Rank: 96
SOXY Omega Ratio Rank: 95
SOXY Calmar Ratio Rank: 97
SOXY Martin Ratio Rank: 97

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

SOXY vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) and Main Buywrite ETF (BUYW). 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.

	SOXY	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	5.32	2.03	+3.29
Sortino ratio: Return per unit of downside risk	5.53	3.08	+2.45
Omega ratio: Gain probability vs. loss probability	1.75	1.40	+0.35
Calmar ratio: Return relative to maximum drawdown	11.33	3.79	+7.54
Martin ratio: Return relative to average drawdown	42.65	20.24	+22.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SOXY vs. BUYW - Sharpe Ratio Comparison

The current SOXY Sharpe Ratio is 5.32, which is higher than the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of SOXY and BUYW, 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

	SOXY	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.32	2.03	+3.29
Sharpe Ratio (All Time) Calculated using the full available price history	2.57	1.17	+1.41

Drawdowns

SOXY vs. BUYW - Drawdown Comparison

The maximum SOXY drawdown since its inception was -30.22%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for SOXY and BUYW.

Drawdown Indicators

	SOXY	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-30.22%	-9.36%	-20.86%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-2.59%	-11.09%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-4.94%	-0.61%	-4.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	0.48%	+3.15%

Volatility

SOXY vs. BUYW - Volatility Comparison

YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a higher volatility of 12.85% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that SOXY's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXY	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.85%	1.02%	+11.83%
Volatility (6M) Calculated over the trailing 6-month period	24.06%	4.03%	+20.03%
Volatility (1Y) Calculated over the trailing 1-year period	29.20%	4.85%	+24.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.56%	8.47%	+26.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.56%	8.47%	+26.09%

SOXY vs. BUYW - Expense Ratio Comparison

SOXY has a 0.99% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

SOXY vs. BUYW - Dividend Comparison

SOXY's dividend yield for the trailing twelve months is around 7.74%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	7.74%	11.47%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SOXY and BUYW in my portfolio?

SOXY and BUYW have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SOXY or BUYW?

SOXY has higher volatility (12.85%) compared to BUYW (1.02%). In terms of maximum drawdown, SOXY dropped -30.22% vs BUYW's -9.36%.

Which ETF is better, SOXY or BUYW?

On 1-year performance, SOXY leads with 154.02% vs 9.76% for BUYW. On fees, SOXY is cheaper at 0.99% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXY or BUYW?

Over the 1-year period, SOXY has performed better with a 154.02% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXY or BUYW?

SOXY is cheaper with a 0.99% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, SOXY or BUYW?

SOXY has the higher dividend yield at 7.74%, compared with 5.91% for BUYW.

What is the main difference between SOXY and BUYW?

They also come from different issuers: YieldMax and Main Funds. Their fees differ too: 0.99% for SOXY and 1.29% for BUYW.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (5.32 vs 2.03), 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.