TSLY vs. CRSH

Last updated Aug 5, 2026

TSLY (YieldMax TSLA Option Income Strategy ETF) and CRSH (YieldMax Short TSLA Option Income Strategy ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while CRSH is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, TSLY returned 8.88% vs -7.97% for CRSH. Their -0.94 correlation means they have often moved in opposite directions in the past. TSLY charges 1.07%/yr vs 0.99%/yr for CRSH.

Performance

TSLY vs. CRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax TSLA Option Income Strategy ETF (TSLY) and YieldMax Short TSLA Option Income Strategy ETF (CRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLY achieves a -21.41% return, which is significantly lower than CRSH's 21.72% return.

TSLY

• 1D: 1.16%
• 1M: -15.27%
• 6M: -19.06%
• YTD: -21.41%
• 1Y: 8.88%
• 3Y*: 1.63%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.32%

CRSH

• 1D: -1.60%
• 1M: 13.05%
• 6M: 14.20%
• YTD: 21.72%
• 1Y: -7.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.35%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRSH YieldMax Short TSLA Option Income Strategy ETF	$457.04K	$338.01K	$365.84K
TSLY YieldMax TSLA Option Income Strategy ETF	$11.38M	$11.26M	$16.77M

TSLY vs. CRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSLY YieldMax TSLA Option Income Strategy ETF	-21.41%	13.62%	60.27%
CRSH YieldMax Short TSLA Option Income Strategy ETF	21.72%	-13.40%	-52.42%

Correlation

The correlation between TSLY and CRSH is -0.97, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.97
Correlation (All Time) Calculated using the full available price history since May 2, 2024	-0.94

The correlation between TSLY and CRSH has been stable across timeframes, ranging from -0.97 to -0.94 - a consistent structural relationship.

Return for Risk

TSLY vs. CRSH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSLY

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

CRSH

CRSH Risk / Return Rank: 8
CRSH Sharpe Ratio Rank: 7
CRSH Sortino Ratio Rank: 8
CRSH Omega Ratio Rank: 8
CRSH Calmar Ratio Rank: 7
CRSH Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSLY vs. CRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) and YieldMax Short TSLA Option Income Strategy ETF (CRSH). 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.

	TSLY	CRSH	Difference
Sharpe ratio: Return per unit of total volatility	0.23	-0.22	+0.45
Sortino ratio: Return per unit of downside risk	0.57	-0.06	+0.63
Omega ratio: Gain probability vs. loss probability	1.07	0.99	+0.08
Calmar ratio: Return relative to maximum drawdown	0.28	-0.26	+0.54
Martin ratio: Return relative to average drawdown	0.80	-0.41	+1.22

TSLY vs. CRSH - Sharpe Ratio Comparison

The current TSLY Sharpe Ratio is 0.23, which is higher than the CRSH Sharpe Ratio of -0.22. The chart below compares the historical Sharpe Ratios of TSLY and CRSH, 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

TSLY vs. CRSH - Drawdown Comparison

The maximum TSLY drawdown since its inception was -49.52%, smaller than the maximum CRSH drawdown of -63.68%. Use the drawdown chart below to compare losses from any high point for TSLY and CRSH.

Drawdown Indicators

	TSLY	CRSH	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-63.68%	+14.16%
Max Drawdown (1Y) Largest decline over 1 year	-31.78%	-30.50%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	—	—
Current Drawdown Current decline from peak	-26.51%	-52.11%	+25.60%
Average Drawdown Average peak-to-trough decline	-19.80%	-44.01%	+24.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.07%	19.37%	-8.30%

Volatility

TSLY vs. CRSH - Volatility Comparison

YieldMax TSLA Option Income Strategy ETF (TSLY) has a higher volatility of 17.02% compared to YieldMax Short TSLA Option Income Strategy ETF (CRSH) at 12.40%. This indicates that TSLY's price experiences larger fluctuations and is considered to be riskier than CRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLY	CRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.02%	12.40%	+4.62%
Volatility (6M) Calculated over the trailing 6-month period	29.63%	26.58%	+3.05%
Volatility (1Y) Calculated over the trailing 1-year period	38.27%	36.86%	+1.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.97%	47.45%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.97%	47.45%	-1.48%

TSLY vs. CRSH - Expense Ratio Comparison

TSLY has a 1.07% expense ratio, which is higher than CRSH's 0.99% expense ratio.

Dividends

TSLY vs. CRSH - Dividend Comparison

TSLY's dividend yield for the trailing twelve months is around 107.97%, more than CRSH's 78.07% yield.

Position	TTM	2025	2024	2023
CRSH YieldMax Short TSLA Option Income Strategy ETF	78.07%	138.78%	94.25%	0.00%
TSLY YieldMax TSLA Option Income Strategy ETF	107.97%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both TSLY and CRSH in my portfolio?

TSLY and CRSH have a correlation of -0.97, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLY or CRSH?

TSLY has higher volatility (17.02%) compared to CRSH (12.40%). In terms of maximum drawdown, TSLY dropped -49.52% vs CRSH's -63.68%.

Which ETF is better, TSLY or CRSH?

On 1-year performance, TSLY leads with 8.88% vs -7.97% for CRSH. On fees, CRSH is cheaper at 0.99% per year. On volatility, CRSH has been the lower-risk option at 12.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLY or CRSH?

Over the 1-year period, TSLY has performed better with a 8.88% return vs -7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLY or CRSH?

CRSH is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLY.

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

TSLY has the higher dividend yield at 107.97%, compared with 78.07% for CRSH.

What is the main difference between TSLY and CRSH?

TSLY is categorized as Options Trading, while CRSH is Derivative Income. Their fees differ too: 1.07% for TSLY and 0.99% for CRSH.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (0.23 vs -0.22), 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.