TSLY vs. FUTY

Last updated Jun 9, 2026

TSLY (YieldMax TSLA Option Income Strategy ETF) and FUTY (Fidelity MSCI Utilities Index ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while FUTY is a Utilities Equities fund tracking the MSCI USA IMI Utilities Index. TSLY is actively managed, while FUTY is passively managed. Over the past 3 years, TSLY returned 11.84%/yr vs 12.75%/yr for FUTY. At a 0.11 correlation, their price movements are largely independent. TSLY charges 1.07%/yr vs 0.08%/yr for FUTY.

Performance

TSLY vs. FUTY - Performance Comparison

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

Returns By Period

In the year-to-date period, TSLY achieves a -4.80% return, which is significantly lower than FUTY's 2.65% return.

TSLY

• 1D: 4.18%
• 1M: -3.87%
• YTD: -4.80%
• 6M: -2.72%
• 1Y: 38.89%
• 3Y*: 11.84%
• 5Y*: —
• 10Y*: —

FUTY

• 1D: -1.86%
• 1M: -2.64%
• YTD: 2.65%
• 6M: 3.06%
• 1Y: 10.63%
• 3Y*: 12.75%
• 5Y*: 8.95%
• 10Y*: 8.88%

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

TSLY vs. FUTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLY YieldMax TSLA Option Income Strategy ETF	-4.80%	13.62%	27.83%	50.69%	-27.09%
FUTY Fidelity MSCI Utilities Index ETF	2.65%	16.40%	23.20%	-7.46%	1.33%

Correlation

The correlation between TSLY and FUTY is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.11

Return for Risk

TSLY vs. FUTY — Risk / Return Rank

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

TSLY

TSLY Risk / Return Rank: 34
TSLY Sharpe Ratio Rank: 33
TSLY Sortino Ratio Rank: 33
TSLY Omega Ratio Rank: 32
TSLY Calmar Ratio Rank: 40
TSLY Martin Ratio Rank: 32

FUTY

FUTY Risk / Return Rank: 23
FUTY Sharpe Ratio Rank: 23
FUTY Sortino Ratio Rank: 22
FUTY Omega Ratio Rank: 22
FUTY Calmar Ratio Rank: 27
FUTY Martin Ratio Rank: 22

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.

TSLY vs. FUTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) and Fidelity MSCI Utilities Index ETF (FUTY). 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.

	TSLY	FUTY	Difference
Sharpe ratio: Return per unit of total volatility	1.09	0.74	+0.35
Sortino ratio: Return per unit of downside risk	1.60	1.08	+0.51
Omega ratio: Gain probability vs. loss probability	1.19	1.13	+0.06
Calmar ratio: Return relative to maximum drawdown	1.81	1.19	+0.61
Martin ratio: Return relative to average drawdown	4.37	2.64	+1.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLY vs. FUTY - Sharpe Ratio Comparison

The current TSLY Sharpe Ratio is 1.09, which is higher than the FUTY Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of TSLY and FUTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TSLY	FUTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	0.74	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.53	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.55	-0.27

Drawdowns

TSLY vs. FUTY - Drawdown Comparison

The maximum TSLY drawdown since its inception was -49.52%, which is greater than FUTY's maximum drawdown of -36.44%. Use the drawdown chart below to compare losses from any high point for TSLY and FUTY.

Drawdown Indicators

	TSLY	FUTY	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-36.44%	-13.08%
Max Drawdown (1Y) Largest decline over 1 year	-21.64%	-8.93%	-12.71%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	-17.35%	-32.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.44%	—
Current Drawdown Current decline from peak	-10.98%	-7.74%	-3.24%
Average Drawdown Average peak-to-trough decline	-19.97%	-6.03%	-13.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.93%	4.03%	+4.90%

Volatility

TSLY vs. FUTY - Volatility Comparison

YieldMax TSLA Option Income Strategy ETF (TSLY) has a higher volatility of 12.39% compared to Fidelity MSCI Utilities Index ETF (FUTY) at 5.64%. This indicates that TSLY's price experiences larger fluctuations and is considered to be riskier than FUTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLY	FUTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.39%	5.64%	+6.75%
Volatility (6M) Calculated over the trailing 6-month period	23.46%	11.56%	+11.90%
Volatility (1Y) Calculated over the trailing 1-year period	35.88%	14.40%	+21.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.60%	17.10%	+28.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.60%	19.06%	+26.54%

TSLY vs. FUTY - Expense Ratio Comparison

TSLY has a 1.07% expense ratio, which is higher than FUTY's 0.08% expense ratio.

Dividends

TSLY vs. FUTY - Dividend Comparison

TSLY's dividend yield for the trailing twelve months is around 88.79%, more than FUTY's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FUTY Fidelity MSCI Utilities Index ETF	2.63%	2.67%	2.96%	3.31%	2.72%	2.70%	3.07%	2.82%	3.11%	3.03%	3.35%	4.33%
TSLY YieldMax TSLA Option Income Strategy ETF	88.79%	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 TSLY and FUTY in my portfolio?

TSLY and FUTY have a correlation of 0.11, 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 FUTY?

TSLY has higher volatility (12.39%) compared to FUTY (5.64%). In terms of maximum drawdown, TSLY dropped -49.52% vs FUTY's -36.44%.

Which ETF is better, TSLY or FUTY?

On 3-year performance, FUTY leads with 12.75% vs 11.84% for TSLY. On fees, FUTY is cheaper at 0.08% per year. On volatility, FUTY has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLY or FUTY?

Over the 3-year period, FUTY has performed better with a 12.75% return vs 11.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLY or FUTY?

FUTY is cheaper with a 0.08% expense ratio, compared with 1.07% for TSLY.

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

TSLY has the higher dividend yield at 88.79%, compared with 2.63% for FUTY.

What is the main difference between TSLY and FUTY?

TSLY is categorized as Options Trading, while FUTY is Utilities Equities. They also come from different issuers: YieldMax and Fidelity. Their fees differ too: 1.07% for TSLY and 0.08% for FUTY.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (1.09 vs 0.74), 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.