SPYV vs. TSLY

Last updated Jun 13, 2026

SPYV (SPDR Portfolio S&P 500 Value ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - SPYV is a S&P 500 fund tracking the S&P 500 Value Index, while TSLY is a Options Trading fund actively managed by YieldMax. SPYV is passively managed, while TSLY is actively managed. Over the past 3 years, SPYV returned 15.13%/yr vs 10.28%/yr for TSLY. At a 0.39 correlation, their price movements are largely independent. SPYV charges 0.04%/yr vs 1.07%/yr for TSLY.

Performance

SPYV vs. TSLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 500 Value ETF (SPYV) and YieldMax TSLA Option Income Strategy ETF (TSLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYV achieves a 8.25% return, which is significantly higher than TSLY's -5.22% return.

SPYV

• 1D: 0.69%
• 1M: 1.81%
• YTD: 8.25%
• 6M: 8.02%
• 1Y: 20.65%
• 3Y*: 15.13%
• 5Y*: 10.98%
• 10Y*: 12.08%

TSLY

• 1D: 1.66%
• 1M: -6.99%
• YTD: -5.22%
• 6M: -7.03%
• 1Y: 29.62%
• 3Y*: 10.28%
• 5Y*: —
• 10Y*: —

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

SPYV vs. TSLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPYV SPDR Portfolio S&P 500 Value ETF	8.25%	13.18%	12.24%	22.20%	-2.59%
TSLY YieldMax TSLA Option Income Strategy ETF	-5.22%	13.62%	27.83%	50.69%	-27.09%

Correlation

The correlation between SPYV and TSLY 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 (3Y) Calculated over the trailing 3-year period	0.39
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.39

Return for Risk

SPYV vs. TSLY — Risk / Return Rank

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

SPYV

SPYV Risk / Return Rank: 75
SPYV Sharpe Ratio Rank: 75
SPYV Sortino Ratio Rank: 76
SPYV Omega Ratio Rank: 73
SPYV Calmar Ratio Rank: 75
SPYV Martin Ratio Rank: 77

TSLY

TSLY Risk / Return Rank: 27
TSLY Sharpe Ratio Rank: 26
TSLY Sortino Ratio Rank: 26
TSLY Omega Ratio Rank: 26
TSLY Calmar Ratio Rank: 31
TSLY Martin Ratio Rank: 27

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.

SPYV vs. TSLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 500 Value ETF (SPYV) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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.

	SPYV	TSLY	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.83	+1.25
Sortino ratio: Return per unit of downside risk	2.92	1.30	+1.62
Omega ratio: Gain probability vs. loss probability	1.37	1.16	+0.22
Calmar ratio: Return relative to maximum drawdown	3.33	1.38	+1.96
Martin ratio: Return relative to average drawdown	12.73	3.27	+9.46

SPYV vs. TSLY - Sharpe Ratio Comparison

The current SPYV Sharpe Ratio is 2.08, which is higher than the TSLY Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of SPYV and TSLY, 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

SPYV vs. TSLY - Drawdown Comparison

The maximum SPYV drawdown since its inception was -58.45%, which is greater than TSLY's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for SPYV and TSLY.

Drawdown Indicators

	SPYV	TSLY	Difference
Max Drawdown Largest peak-to-trough decline	-58.45%	-49.52%	-8.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.22%	-21.64%	+15.42%
Max Drawdown (3Y) Largest decline over 3 years	-17.54%	-49.52%	+31.98%
Max Drawdown (5Y) Largest decline over 5 years	-17.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	—	—
Current Drawdown Current decline from peak	-0.18%	-11.38%	+11.20%
Average Drawdown Average peak-to-trough decline	-8.71%	-19.92%	+11.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	9.09%	-7.46%

Volatility

SPYV vs. TSLY - Volatility Comparison

The current volatility for SPDR Portfolio S&P 500 Value ETF (SPYV) is 2.70%, while YieldMax TSLA Option Income Strategy ETF (TSLY) has a volatility of 12.68%. This indicates that SPYV experiences smaller price fluctuations and is considered to be less risky than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPYV	TSLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	12.68%	-9.98%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	23.97%	-16.71%
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	35.92%	-25.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	45.59%	-31.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	45.59%	-28.65%

SPYV vs. TSLY - Expense Ratio Comparison

SPYV has a 0.04% expense ratio, which is lower than TSLY's 1.07% expense ratio.

Dividends

SPYV vs. TSLY - Dividend Comparison

SPYV's dividend yield for the trailing twelve months is around 1.68%, less than TSLY's 83.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPYV SPDR Portfolio S&P 500 Value ETF	1.68%	1.77%	2.29%	1.75%	2.22%	2.10%	2.38%	2.25%	2.97%	2.77%	2.39%	2.53%
TSLY YieldMax TSLA Option Income Strategy ETF	83.90%	91.19%	82.30%	76.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPYV and TSLY in my portfolio?

SPYV and TSLY 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, SPYV or TSLY?

TSLY has higher volatility (12.68%) compared to SPYV (2.70%). In terms of maximum drawdown, SPYV dropped -58.45% vs TSLY's -49.52%.

Which ETF is better, SPYV or TSLY?

On 3-year performance, SPYV leads with 15.13% vs 10.28% for TSLY. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPYV or TSLY?

Over the 3-year period, SPYV has performed better with a 15.13% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPYV or TSLY?

SPYV is cheaper with a 0.04% expense ratio, compared with 1.07% for TSLY.

Which ETF pays a higher dividend yield, SPYV or TSLY?

TSLY has the higher dividend yield at 83.90%, compared with 1.68% for SPYV.

What is the main difference between SPYV and TSLY?

SPYV is categorized as S&P 500, while TSLY is Options Trading. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.04% for SPYV and 1.07% for TSLY.

Which has better risk-adjusted returns?

SPYV currently has the higher Sharpe Ratio (2.08 vs 0.83), 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.