TSLY vs. USHY
TSLY (YieldMax TSLA Option Income Strategy ETF) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. TSLY is actively managed, while USHY is passively managed. Over the past 3 years, TSLY returned 11.84%/yr vs 8.79%/yr for USHY. At a 0.39 correlation, their price movements are largely independent. TSLY charges 1.07%/yr vs 0.15%/yr for USHY.
Performance
TSLY vs. USHY - Performance Comparison
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Returns By Period
In the year-to-date period, TSLY achieves a -4.80% return, which is significantly lower than USHY's 1.29% return.
TSLY
- 1D
- 4.18%
- 1M
- -3.87%
- YTD
- -4.80%
- 6M
- -2.72%
- 1Y
- 38.89%
- 3Y*
- 11.84%
- 5Y*
- —
- 10Y*
- —
USHY
- 1D
- 0.08%
- 1M
- -0.14%
- YTD
- 1.29%
- 6M
- 1.85%
- 1Y
- 6.84%
- 3Y*
- 8.79%
- 5Y*
- 4.16%
- 10Y*
- —
TSLY vs. USHY - 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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.29% | 8.81% | 8.45% | 12.73% | -0.47% |
Correlation
The correlation between TSLY and USHY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022 | 0.39 |
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Return for Risk
TSLY vs. USHY — Risk / Return Rank
TSLY
USHY
TSLY vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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 | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.36 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 2.83 | -1.02 |
| Martin ratioReturn relative to average drawdown | 4.37 | 12.68 | -8.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSLY | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 1.88 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.58 | -0.30 |
Drawdowns
TSLY vs. USHY - Drawdown Comparison
The maximum TSLY drawdown since its inception was -49.52%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for TSLY and USHY.
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Drawdown Indicators
| TSLY | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.52% | -22.44% | -27.08% |
Max Drawdown (1Y)Largest decline over 1 year | -21.64% | -2.43% | -19.21% |
Max Drawdown (3Y)Largest decline over 3 years | -49.52% | -4.66% | -44.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.56% | — |
Current DrawdownCurrent decline from peak | -10.98% | -0.41% | -10.57% |
Average DrawdownAverage peak-to-trough decline | -19.97% | -2.66% | -17.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.93% | 0.54% | +8.39% |
Volatility
TSLY vs. USHY - Volatility Comparison
YieldMax TSLA Option Income Strategy ETF (TSLY) has a higher volatility of 12.39% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that TSLY's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSLY | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.39% | 1.13% | +11.26% |
Volatility (6M)Calculated over the trailing 6-month period | 23.46% | 2.95% | +20.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.88% | 3.67% | +32.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.60% | 7.34% | +38.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.60% | 8.25% | +37.35% |
TSLY vs. USHY - Expense Ratio Comparison
TSLY has a 1.07% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
TSLY vs. USHY - Dividend Comparison
TSLY's dividend yield for the trailing twelve months is around 88.79%, more than USHY's 6.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.93% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% |
Frequently Asked Questions
TSLY and USHY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSLY has higher volatility (12.39%) compared to USHY (1.13%). In terms of maximum drawdown, TSLY dropped -49.52% vs USHY's -22.44%.
On 3-year performance, TSLY leads with 11.84% vs 8.79% for USHY. On fees, USHY is cheaper at 0.15% per year. On volatility, USHY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TSLY has performed better with a 11.84% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USHY is cheaper with a 0.15% expense ratio, compared with 1.07% for TSLY.
TSLY has the higher dividend yield at 88.79%, compared with 6.93% for USHY.
TSLY is categorized as Options Trading, while USHY is High Yield Bonds. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.07% for TSLY and 0.15% for USHY.
USHY currently has the higher Sharpe Ratio (1.88 vs 1.09), 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.
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