TEST vs. IVVW
TEST (YieldMax TSLA Performance & Distribution Target 25 ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. TEST is actively managed, while IVVW is passively managed. A 0.57 correlation means they provide meaningful diversification when combined. TEST charges 1.01%/yr vs 0.25%/yr for IVVW.
Performance
TEST vs. IVVW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TEST achieves a -10.90% return, which is significantly lower than IVVW's 4.04% return.
TEST
- 1D
- -0.24%
- 1M
- -9.29%
- YTD
- -10.90%
- 6M
- -16.29%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- -0.02%
- 1M
- -0.15%
- YTD
- 4.04%
- 6M
- 3.95%
- 1Y
- 16.51%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TEST vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | -10.90% | 8.46% |
IVVW iShares S&P 500 BuyWrite ETF | 4.04% | 3.35% |
Correlation
The correlation between TEST and IVVW is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025 | 0.57 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TEST vs. IVVW — Risk / Return Rank
TEST
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IVVW
TEST vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Performance & Distribution Target 25 ETF (TEST) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| TEST | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.45 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.85 | — |
| Martin ratioReturn relative to average drawdown | — | 15.15 | — |
Loading charts...
Drawdowns
TEST vs. IVVW - Drawdown Comparison
The maximum TEST drawdown since its inception was -23.35%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for TEST and IVVW.
Loading charts...
Drawdown Indicators
| TEST | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.35% | -16.79% | -6.56% |
Max Drawdown (1Y)Largest decline over 1 year | — | -5.81% | — |
Current DrawdownCurrent decline from peak | -16.74% | -1.35% | -15.39% |
Average DrawdownAverage peak-to-trough decline | -10.56% | -1.73% | -8.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.09% | — |
Volatility
TEST vs. IVVW - Volatility Comparison
Loading charts...
Volatility by Period
| TEST | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.42% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 6.89% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.30% | 8.02% | +25.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.30% | 12.67% | +20.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.30% | 12.67% | +20.63% |
TEST vs. IVVW - Expense Ratio Comparison
TEST has a 1.01% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
TEST vs. IVVW - Dividend Comparison
TEST's dividend yield for the trailing twelve months is around 16.58%, less than IVVW's 19.86% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.86% | 18.55% | 13.72% |
TEST YieldMax TSLA Performance & Distribution Target 25 ETF | 16.58% | 2.50% | 0.00% |
Frequently Asked Questions
TEST and IVVW have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IVVW is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IVVW is cheaper with a 0.25% expense ratio, compared with 1.01% for TEST.
IVVW has the higher dividend yield at 19.86%, compared with 16.58% for TEST.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for TEST and 0.25% for IVVW.
Find the right allocation for TEST and IVVW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer