SPUT vs. IOYY
SPUT (Innovator Equity Premium Income Daily PutWrite ETF) and IOYY (GraniteShares YieldBOOST IONQ ETF) are both Derivative Income funds. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. SPUT charges 0.79%/yr vs 1.07%/yr for IOYY.
Performance
SPUT vs. IOYY - Performance Comparison
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Returns By Period
In the year-to-date period, SPUT achieves a 7.26% return, which is significantly higher than IOYY's -11.06% return.
SPUT
- 1D
- -0.34%
- 1M
- 3.05%
- YTD
- 7.26%
- 6M
- 7.80%
- 1Y
- 18.82%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IOYY
- 1D
- -0.54%
- 1M
- 9.06%
- YTD
- -11.06%
- 6M
- -19.16%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUT vs. IOYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 7.26% | 1.69% |
IOYY GraniteShares YieldBOOST IONQ ETF | -11.06% | -11.64% |
Correlation
The correlation between SPUT and IOYY is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025 | 0.38 |
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Return for Risk
SPUT vs. IOYY — Risk / Return Rank
SPUT
IOYY
SPUT vs. IOYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Premium Income Daily PutWrite ETF (SPUT) and GraniteShares YieldBOOST IONQ ETF (IOYY). 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.
| SPUT | IOYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.53 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.96 | — | — |
| Martin ratioReturn relative to average drawdown | 22.62 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPUT | IOYY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.54 | -1.00 | +2.54 |
Drawdowns
SPUT vs. IOYY - Drawdown Comparison
The maximum SPUT drawdown since its inception was -10.55%, smaller than the maximum IOYY drawdown of -38.47%. Use the drawdown chart below to compare losses from any high point for SPUT and IOYY.
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Drawdown Indicators
| SPUT | IOYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.55% | -38.47% | +27.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.81% | — | — |
Current DrawdownCurrent decline from peak | -0.34% | -27.87% | +27.53% |
Average DrawdownAverage peak-to-trough decline | -0.88% | -23.09% | +22.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | — | — |
Volatility
SPUT vs. IOYY - Volatility Comparison
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Volatility by Period
| SPUT | IOYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 34.42% | -27.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.26% | 34.42% | -23.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 34.42% | -23.16% |
SPUT vs. IOYY - Expense Ratio Comparison
SPUT has a 0.79% expense ratio, which is lower than IOYY's 1.07% expense ratio.
Dividends
SPUT vs. IOYY - Dividend Comparison
SPUT's dividend yield for the trailing twelve months is around 5.03%, less than IOYY's 121.09% yield.
| Position | TTM | 2025 |
|---|---|---|
IOYY GraniteShares YieldBOOST IONQ ETF | 121.09% | 28.55% |
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 5.03% | 4.66% |
Frequently Asked Questions
SPUT and IOYY 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.
On fees, SPUT is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPUT is cheaper with a 0.79% expense ratio, compared with 1.07% for IOYY.
IOYY has the higher dividend yield at 121.09%, compared with 5.03% for SPUT.
They also come from different issuers: Innovator and GraniteShares. Their fees differ too: 0.79% for SPUT and 1.07% for IOYY.
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