TSMY vs. IETH
TSMY (YieldMax TSM Option Income Strategy ETF) and IETH (Bitwise Ethereum Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Their 0.38 correlation means their historical movements had little consistent relationship. TSMY charges 1.01%/yr vs 0.97%/yr for IETH.
Performance
TSMY vs. IETH - Performance Comparison
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Returns By Period
In the year-to-date period, TSMY achieves a 30.47% return, which is significantly higher than IETH's -32.43% return.
TSMY
- 1D
- 0.66%
- 1M
- -4.22%
- 6M
- 21.94%
- YTD
- 30.47%
- 1Y
- 60.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 42.46%
IETH
- 1D
- 0.43%
- 1M
- 7.22%
- 6M
- -25.89%
- YTD
- -32.43%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.90K | $4.22K | $6.65K | |
| $2.14M | $3.13M | $3.04M |
TSMY vs. IETH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSMY YieldMax TSM Option Income Strategy ETF | 30.47% | 4.73% |
IETH Bitwise Ethereum Option Income Strategy ETF | -32.43% | -27.34% |
Correlation
The correlation between TSMY and IETH is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025 | 0.38 |
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Return for Risk
TSMY vs. IETH — Risk / Return Rank
TSMY
IETH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TSMY vs. IETH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax TSM Option Income Strategy ETF (TSMY) and Bitwise Ethereum Option Income Strategy ETF (IETH). 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.
| TSMY | IETH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.29 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | — | — |
| Martin ratioReturn relative to average drawdown | 10.72 | — | — |
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Drawdowns
TSMY vs. IETH - Drawdown Comparison
The maximum TSMY drawdown since its inception was -31.15%, smaller than the maximum IETH drawdown of -59.76%. Use the drawdown chart below to compare losses from any high point for TSMY and IETH.
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Drawdown Indicators
| TSMY | IETH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.15% | -59.76% | +28.61% |
Max Drawdown (1Y)Largest decline over 1 year | -17.86% | — | — |
Current DrawdownCurrent decline from peak | -11.66% | -53.29% | +41.63% |
Average DrawdownAverage peak-to-trough decline | -5.63% | -40.45% | +34.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.33% | — | — |
Volatility
TSMY vs. IETH - Volatility Comparison
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Volatility by Period
| TSMY | IETH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.98% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 27.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 33.77% | 57.92% | -24.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.64% | 57.92% | -23.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.64% | 57.92% | -23.28% |
TSMY vs. IETH - Expense Ratio Comparison
TSMY has a 1.01% expense ratio, which is higher than IETH's 0.97% expense ratio.
Dividends
TSMY vs. IETH - Dividend Comparison
TSMY's dividend yield for the trailing twelve months is around 58.31%, more than IETH's 46.82% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IETH Bitwise Ethereum Option Income Strategy ETF | 46.82% | 18.26% | 0.00% |
TSMY YieldMax TSM Option Income Strategy ETF | 58.31% | 56.76% | 13.71% |
Frequently Asked Questions
TSMY and IETH have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IETH is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IETH is cheaper with a 0.97% expense ratio, compared with 1.01% for TSMY.
TSMY has the higher dividend yield at 58.31%, compared with 46.82% for IETH.
They also come from different issuers: YieldMax and Bitwise. Their fees differ too: 1.01% for TSMY and 0.97% for IETH.
Find the right allocation for TSMY and IETH
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