SPIN vs. CHPY

Last updated Jun 24, 2026

SPIN (State Street US Equity Premium Income ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, SPIN returned 14.96% vs 134.57% for CHPY. A 0.67 correlation means they provide meaningful diversification when combined. SPIN charges 0.25%/yr vs 0.99%/yr for CHPY.

Performance

SPIN vs. CHPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street US Equity Premium Income ETF (SPIN) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPIN achieves a 0.41% return, which is significantly lower than CHPY's 82.68% return.

SPIN

• 1D: -1.10%
• 1M: -1.32%
• YTD: 0.41%
• 6M: -0.02%
• 1Y: 14.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CHPY

• 1D: -6.97%
• 1M: 10.89%
• YTD: 82.68%
• 6M: 81.99%
• 1Y: 134.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPIN vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
SPIN State Street US Equity Premium Income ETF	0.41%	18.83%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	82.68%	56.76%

Correlation

The correlation between SPIN and CHPY is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.67

The correlation between SPIN and CHPY has been stable across timeframes, ranging from 0.65 to 0.67 - a consistent structural relationship.

Return for Risk

SPIN vs. CHPY — Risk / Return Rank

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

SPIN

SPIN Risk / Return Rank: 39
SPIN Sharpe Ratio Rank: 41
SPIN Sortino Ratio Rank: 38
SPIN Omega Ratio Rank: 41
SPIN Calmar Ratio Rank: 32
SPIN Martin Ratio Rank: 41

CHPY

CHPY Risk / Return Rank: 95
CHPY Sharpe Ratio Rank: 96
CHPY Sortino Ratio Rank: 93
CHPY Omega Ratio Rank: 94
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

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.

SPIN vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street US Equity Premium Income ETF (SPIN) 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.

	SPIN	CHPY	Difference
Sharpe ratio: Return per unit of total volatility	1.35	4.16	-2.81
Sortino ratio: Return per unit of downside risk	1.87	4.30	-2.42
Omega ratio: Gain probability vs. loss probability	1.25	1.64	-0.38
Calmar ratio: Return relative to maximum drawdown	1.53	11.13	-9.59
Martin ratio: Return relative to average drawdown	6.26	39.19	-32.94

SPIN vs. CHPY - Sharpe Ratio Comparison

The current SPIN Sharpe Ratio is 1.35, which is lower than the CHPY Sharpe Ratio of 4.16. The chart below compares the historical Sharpe Ratios of SPIN 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

SPIN vs. CHPY - Drawdown Comparison

The maximum SPIN drawdown since its inception was -16.85%, which is greater than CHPY's maximum drawdown of -12.19%. Use the drawdown chart below to compare losses from any high point for SPIN and CHPY.

Drawdown Indicators

	SPIN	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-16.85%	-12.19%	-4.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-12.17%	+2.36%
Current Drawdown Current decline from peak	-2.82%	-6.97%	+4.15%
Average Drawdown Average peak-to-trough decline	-2.27%	-2.14%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	3.45%	-1.05%

Volatility

SPIN vs. CHPY - Volatility Comparison

The current volatility for State Street US Equity Premium Income ETF (SPIN) is 4.22%, while YieldMax Semiconductor Portfolio Option Income ETF (CHPY) has a volatility of 19.72%. This indicates that SPIN experiences smaller price fluctuations and is considered to be less risky than CHPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPIN	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	19.72%	-15.50%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	27.95%	-19.18%
Volatility (1Y) Calculated over the trailing 1-year period	11.16%	32.57%	-21.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.43%	36.37%	-21.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.43%	36.37%	-21.94%

SPIN vs. CHPY - Expense Ratio Comparison

SPIN has a 0.25% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

SPIN vs. CHPY - Dividend Comparison

SPIN's dividend yield for the trailing twelve months is around 5.78%, less than CHPY's 29.64% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	29.64%	28.19%	0.00%
SPIN State Street US Equity Premium Income ETF	5.78%	8.20%	2.36%

Frequently Asked Questions

Can I hold both SPIN and CHPY in my portfolio?

SPIN and CHPY have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPIN or CHPY?

CHPY has higher volatility (19.72%) compared to SPIN (4.22%). In terms of maximum drawdown, SPIN dropped -16.85% vs CHPY's -12.19%.

Which ETF is better, SPIN or CHPY?

On 1-year performance, CHPY leads with 134.57% vs 14.96% for SPIN. On fees, SPIN is cheaper at 0.25% per year. On volatility, SPIN has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPIN or CHPY?

Over the 1-year period, CHPY has performed better with a 134.57% return vs 14.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPIN or CHPY?

SPIN is cheaper with a 0.25% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 29.64%, compared with 5.78% for SPIN.

What is the main difference between SPIN and CHPY?

They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.25% for SPIN and 0.99% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (4.16 vs 1.35), 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.