TQQY vs. NVDY

Last updated Jul 17, 2026

TQQY (GraniteShares YieldBOOST QQQ ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - TQQY is a Leveraged Equities fund actively managed by GraniteShares, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, TQQY returned 7.29% vs 23.01% for NVDY. A 0.63 correlation means they provide meaningful diversification when combined. TQQY charges 1.07%/yr vs 0.99%/yr for NVDY.

Performance

TQQY vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST QQQ ETF (TQQY) and YieldMax NVDA Option Income Strategy ETF (NVDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TQQY achieves a 4.85% return, which is significantly lower than NVDY's 10.54% return.

TQQY

• 1D: -1.13%
• 1M: 0.33%
• 6M: 4.24%
• YTD: 4.85%
• 1Y: 7.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -1.29%
• 1M: 0.25%
• 6M: 9.07%
• YTD: 10.54%
• 1Y: 23.01%
• 3Y*: 50.09%
• 5Y*: —
• 10Y*: —

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

TQQY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025
TQQY GraniteShares YieldBOOST QQQ ETF	4.85%	-6.04%
NVDY YieldMax NVDA Option Income Strategy ETF	10.54%	38.00%

Correlation

The correlation between TQQY and NVDY is 0.59, 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	0.59
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	0.63

The correlation between TQQY and NVDY has been stable across timeframes, ranging from 0.59 to 0.63 - a consistent structural relationship.

Return for Risk

TQQY vs. NVDY — Risk / Return Rank

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

TQQY

TQQY Risk / Return Rank: 15
TQQY Sharpe Ratio Rank: 15
TQQY Sortino Ratio Rank: 14
TQQY Omega Ratio Rank: 16
TQQY Calmar Ratio Rank: 15
TQQY Martin Ratio Rank: 15

NVDY

NVDY Risk / Return Rank: 29
NVDY Sharpe Ratio Rank: 27
NVDY Sortino Ratio Rank: 27
NVDY Omega Ratio Rank: 26
NVDY Calmar Ratio Rank: 37
NVDY Martin Ratio Rank: 31

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.

TQQY vs. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST QQQ ETF (TQQY) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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.

	TQQY	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.81	-0.46
Sortino ratio: Return per unit of downside risk	0.54	1.25	-0.71
Omega ratio: Gain probability vs. loss probability	1.09	1.15	-0.06
Calmar ratio: Return relative to maximum drawdown	0.38	1.58	-1.20
Martin ratio: Return relative to average drawdown	0.89	3.66	-2.76

TQQY vs. NVDY - Sharpe Ratio Comparison

The current TQQY Sharpe Ratio is 0.34, which is lower than the NVDY Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of TQQY and NVDY, 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

TQQY vs. NVDY - Drawdown Comparison

The maximum TQQY drawdown since its inception was -26.06%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for TQQY and NVDY.

Drawdown Indicators

	TQQY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-34.08%	+8.02%
Max Drawdown (1Y) Largest decline over 1 year	-19.35%	-14.67%	-4.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-6.34%	-8.74%	+2.40%
Average Drawdown Average peak-to-trough decline	-9.71%	-6.30%	-3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.17%	6.31%	+1.86%

Volatility

TQQY vs. NVDY - Volatility Comparison

The current volatility for GraniteShares YieldBOOST QQQ ETF (TQQY) is 3.52%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 8.03%. This indicates that TQQY experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TQQY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	8.03%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	22.14%	-8.33%
Volatility (1Y) Calculated over the trailing 1-year period	21.32%	28.69%	-7.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.32%	37.99%	-14.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.32%	37.99%	-14.67%

TQQY vs. NVDY - Expense Ratio Comparison

TQQY has a 1.07% expense ratio, which is higher than NVDY's 0.99% expense ratio.

Dividends

TQQY vs. NVDY - Dividend Comparison

TQQY's dividend yield for the trailing twelve months is around 60.50%, less than NVDY's 67.37% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	67.37%	83.10%	83.65%	22.32%
TQQY GraniteShares YieldBOOST QQQ ETF	60.50%	49.61%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TQQY and NVDY in my portfolio?

TQQY and NVDY have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TQQY or NVDY?

NVDY has higher volatility (8.03%) compared to TQQY (3.52%). In terms of maximum drawdown, TQQY dropped -26.06% vs NVDY's -34.08%.

Which ETF is better, TQQY or NVDY?

On 1-year performance, NVDY leads with 23.01% vs 7.29% for TQQY. On fees, NVDY is cheaper at 0.99% per year. On volatility, TQQY has been the lower-risk option at 3.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TQQY or NVDY?

Over the 1-year period, NVDY has performed better with a 23.01% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TQQY or NVDY?

NVDY is cheaper with a 0.99% expense ratio, compared with 1.07% for TQQY.

Which ETF pays a higher dividend yield, TQQY or NVDY?

NVDY has the higher dividend yield at 67.37%, compared with 60.50% for TQQY.

What is the main difference between TQQY and NVDY?

TQQY is categorized as Leveraged Equities, while NVDY is Derivative Income. They also come from different issuers: GraniteShares and YieldMax. Their fees differ too: 1.07% for TQQY and 0.99% for NVDY.

Which has better risk-adjusted returns?

NVDY currently has the higher Sharpe Ratio (0.81 vs 0.34), 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.