SOXY vs. CHPY

Last updated Aug 2, 2026

SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, SOXY returned 93.60% vs 93.51% for CHPY. Their 0.96 correlation means they have historically moved very closely together. SOXY charges 1.06%/yr vs 0.99%/yr for CHPY.

Performance

SOXY vs. CHPY - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with SOXY having a 58.34% return and CHPY slightly lower at 55.50%.

SOXY

• 1D: 0.60%
• 1M: -12.01%
• 6M: 42.45%
• YTD: 58.34%
• 1Y: 93.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.65%

CHPY

• 1D: 0.27%
• 1M: -11.10%
• 6M: 39.35%
• YTD: 55.50%
• 1Y: 93.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 95.90%

*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)
CHPY YieldMax Semiconductor Portfolio Option Income ETF	$53.10M	$56.24M	$62.00M
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.44M	$2.09M

SOXY vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	58.34%	51.94%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	55.50%	56.76%

Correlation

The correlation between SOXY and CHPY is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.96

The correlation between SOXY and CHPY has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

SOXY vs. CHPY — Risk / Return Rank

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

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 91
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

CHPY

CHPY Risk / Return Rank: 89
CHPY Sharpe Ratio Rank: 92
CHPY Sortino Ratio Rank: 85
CHPY Omega Ratio Rank: 88
CHPY Calmar Ratio Rank: 86
CHPY Martin Ratio Rank: 92

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.

SOXY vs. CHPY - Risk-Adjusted Trends Comparison

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

	SOXY	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.41	-0.11
Sortino ratio: Return per unit of downside risk	2.73	2.82	-0.09
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	3.21	3.33	-0.12
Martin ratio: Return relative to average drawdown	14.50	15.63	-1.13

SOXY vs. CHPY - Sharpe Ratio Comparison

The current SOXY Sharpe Ratio is 2.30, which is comparable to the CHPY Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of SOXY and CHPY, 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

SOXY vs. CHPY - Drawdown Comparison

The maximum SOXY drawdown since its inception was -30.22%, which is greater than CHPY's maximum drawdown of -27.64%. Use the drawdown chart below to compare losses from any high point for SOXY and CHPY.

Drawdown Indicators

	SOXY	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-30.22%	-27.64%	-2.58%
Max Drawdown (1Y) Largest decline over 1 year	-28.56%	-27.64%	-0.92%
Current Drawdown Current decline from peak	-21.71%	-20.81%	-0.90%
Average Drawdown Average peak-to-trough decline	-5.49%	-3.03%	-2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	5.88%	+0.43%

Volatility

SOXY vs. CHPY - Volatility Comparison

YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a higher volatility of 18.62% compared to YieldMax Semiconductor Portfolio Option Income ETF (CHPY) at 17.69%. This indicates that SOXY's price experiences larger fluctuations and is considered to be riskier than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SOXY	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.62%	17.69%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	35.73%	34.00%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	39.94%	38.28%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.31%	39.15%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.31%	39.15%	+0.16%

SOXY vs. CHPY - Expense Ratio Comparison

SOXY has a 1.06% expense ratio, which is higher than CHPY's 0.99% expense ratio.

Dividends

SOXY vs. CHPY - Dividend Comparison

SOXY's dividend yield for the trailing twelve months is around 9.41%, less than CHPY's 38.69% yield.

Position	TTM	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	38.69%	28.19%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.41%	11.47%

Frequently Asked Questions

Can I hold both SOXY and CHPY in my portfolio?

With a correlation of 0.97, SOXY and CHPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SOXY or CHPY?

SOXY has higher volatility (18.62%) compared to CHPY (17.69%). In terms of maximum drawdown, SOXY dropped -30.22% vs CHPY's -27.64%.

Which ETF is better, SOXY or CHPY?

On 1-year performance, SOXY leads with 93.60% vs 93.51% for CHPY. On fees, CHPY is cheaper at 0.99% per year. On volatility, CHPY has been the lower-risk option at 17.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SOXY or CHPY?

Over the 1-year period, SOXY has performed better with a 93.60% return vs 93.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SOXY or CHPY?

CHPY is cheaper with a 0.99% expense ratio, compared with 1.06% for SOXY.

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

CHPY has the higher dividend yield at 38.69%, compared with 9.41% for SOXY.

What is the main difference between SOXY and CHPY?

Their fees differ too: 1.06% for SOXY and 0.99% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (2.41 vs 2.30), 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.