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 0.41 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 6.14% return, which is significantly higher than IOYY's -20.70% return.
SPUT
- 1D
- -0.27%
- 1M
- 0.44%
- 6M
- 5.40%
- YTD
- 6.14%
- 1Y
- 13.76%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IOYY
- 1D
- -0.82%
- 1M
- -9.01%
- 6M
- -26.94%
- YTD
- -20.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPUT vs. IOYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 6.14% | 1.00% |
IOYY GraniteShares YieldBOOST IONQ ETF | -20.70% | -13.50% |
Correlation
The correlation between SPUT and IOYY is 0.41, 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 4, 2025 | 0.41 |
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Return for Risk
SPUT vs. IOYY — Risk / Return Rank
SPUT
IOYY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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.
| SPUT | IOYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | — | — |
| Martin ratioReturn relative to average drawdown | 12.60 | — | — |
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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 | -1.39% | -35.68% | +34.29% |
Average DrawdownAverage peak-to-trough decline | -0.97% | -24.26% | +23.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | — | — |
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 | 1.82% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.20% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.75% | 32.06% | -24.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.12% | 32.06% | -20.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.12% | 32.06% | -20.94% |
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 5.11%, less than IOYY's 165.60% yield.
| Position | TTM | 2025 |
|---|---|---|
IOYY GraniteShares YieldBOOST IONQ ETF | 165.60% | 28.55% |
SPUT Innovator Equity Premium Income Daily PutWrite ETF | 5.11% | 4.66% |
Frequently Asked Questions
SPUT and IOYY have a correlation of 0.41, 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 165.60%, compared with 5.11% for SPUT.
They also come from different issuers: Innovator and GraniteShares. Their fees differ too: 0.79% for SPUT and 1.07% for IOYY.
Find the right allocation for SPUT and IOYY
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