TSLY vs. IVV

Last updated Jun 13, 2026

TSLY (YieldMax TSLA Option Income Strategy ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while IVV is a S&P 500 fund tracking the S&P 500 Index. TSLY is actively managed, while IVV is passively managed. Over the past 3 years, TSLY returned 10.28%/yr vs 20.95%/yr for IVV. A 0.54 correlation means they provide meaningful diversification when combined. TSLY charges 1.07%/yr vs 0.03%/yr for IVV.

Performance

TSLY vs. IVV - Performance Comparison

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

Returns By Period

In the year-to-date period, TSLY achieves a -5.22% return, which is significantly lower than IVV's 9.08% return.

TSLY

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

IVV

• 1D: 0.55%
• 1M: -0.08%
• YTD: 9.08%
• 6M: 9.43%
• 1Y: 24.38%
• 3Y*: 20.95%
• 5Y*: 13.42%
• 10Y*: 15.47%

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

TSLY vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLY YieldMax TSLA Option Income Strategy ETF	-5.22%	13.62%	27.83%	50.69%	-27.09%
IVV iShares Core S&P 500 ETF	9.08%	17.85%	24.93%	26.31%	-3.95%

Correlation

The correlation between TSLY and IVV is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.54

The correlation between TSLY and IVV has been stable across timeframes, ranging from 0.54 to 0.56 - a consistent structural relationship.

Return for Risk

TSLY vs. IVV — Risk / Return Rank

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

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

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 69
IVV Omega Ratio Rank: 71
IVV Calmar Ratio Rank: 63
IVV Martin Ratio Rank: 76

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. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) and iShares Core S&P 500 ETF (IVV). 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	IVV	Difference
Sharpe ratio: Return per unit of total volatility	0.83	2.00	-1.17
Sortino ratio: Return per unit of downside risk	1.30	2.70	-1.39
Omega ratio: Gain probability vs. loss probability	1.16	1.36	-0.21
Calmar ratio: Return relative to maximum drawdown	1.38	2.76	-1.38
Martin ratio: Return relative to average drawdown	3.27	12.43	-9.17

TSLY vs. IVV - Sharpe Ratio Comparison

The current TSLY Sharpe Ratio is 0.83, which is lower than the IVV Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of TSLY and IVV, 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. IVV - Drawdown Comparison

The maximum TSLY drawdown since its inception was -49.52%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for TSLY and IVV.

Drawdown Indicators

	TSLY	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-55.25%	+5.73%
Max Drawdown (1Y) Largest decline over 1 year	-21.64%	-8.89%	-12.75%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	-18.75%	-30.77%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.90%	—
Current Drawdown Current decline from peak	-11.38%	-2.35%	-9.03%
Average Drawdown Average peak-to-trough decline	-19.92%	-10.77%	-9.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.09%	1.97%	+7.12%

Volatility

TSLY vs. IVV - Volatility Comparison

YieldMax TSLA Option Income Strategy ETF (TSLY) has a higher volatility of 12.68% compared to iShares Core S&P 500 ETF (IVV) at 4.37%. This indicates that TSLY's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLY	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.68%	4.37%	+8.31%
Volatility (6M) Calculated over the trailing 6-month period	23.97%	9.59%	+14.38%
Volatility (1Y) Calculated over the trailing 1-year period	35.92%	12.28%	+23.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.59%	16.95%	+28.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.59%	18.08%	+27.51%

TSLY vs. IVV - Expense Ratio Comparison

TSLY has a 1.07% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

TSLY vs. IVV - Dividend Comparison

TSLY's dividend yield for the trailing twelve months is around 83.90%, more than IVV's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVV iShares Core S&P 500 ETF	1.08%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%
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 TSLY and IVV in my portfolio?

TSLY and IVV have a correlation of 0.56, 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 IVV?

TSLY has higher volatility (12.68%) compared to IVV (4.37%). In terms of maximum drawdown, TSLY dropped -49.52% vs IVV's -55.25%.

Which ETF is better, TSLY or IVV?

On 3-year performance, IVV leads with 20.95% vs 10.28% for TSLY. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLY or IVV?

Over the 3-year period, IVV has performed better with a 20.95% return vs 10.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLY or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 1.07% for TSLY.

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

TSLY has the higher dividend yield at 83.90%, compared with 1.08% for IVV.

What is the main difference between TSLY and IVV?

TSLY is categorized as Options Trading, while IVV is S&P 500. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.07% for TSLY and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.00 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.