TSMY vs. NVDY

Last updated Aug 2, 2026

TSMY (YieldMax TSM Option Income Strategy ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, TSMY returned 60.64% vs 18.52% for NVDY. Their 0.66 correlation means they have sometimes moved together and sometimes differently. TSMY charges 1.01%/yr vs 0.99%/yr for NVDY.

Performance

TSMY vs. NVDY - Performance Comparison

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

Returns By Period

In the year-to-date period, TSMY achieves a 30.47% return, which is significantly higher than NVDY's 7.94% return.

TSMY

• 1D: 0.66%
• 1M: -4.22%
• 6M: 21.94%
• YTD: 30.47%
• 1Y: 60.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 42.46%

NVDY

• 1D: 2.46%
• 1M: 2.84%
• 6M: 4.02%
• YTD: 7.94%
• 1Y: 18.52%
• 3Y*: 48.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 55.67%

*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)
NVDY YieldMax NVDA Option Income Strategy ETF	$28.29M	$28.19M	$37.25M
TSMY YieldMax TSM Option Income Strategy ETF	$2.14M	$3.13M	$3.04M

TSMY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	30.47%	41.00%	8.05%
NVDY YieldMax NVDA Option Income Strategy ETF	7.94%	27.38%	10.99%

Correlation

The correlation between TSMY and NVDY is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	0.66

The correlation between TSMY and NVDY has been stable across timeframes, ranging from 0.62 to 0.66 - a consistent structural relationship.

Return for Risk

TSMY vs. NVDY — Risk / Return Rank

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

TSMY

TSMY Risk / Return Rank: 76
TSMY Sharpe Ratio Rank: 75
TSMY Sortino Ratio Rank: 71
TSMY Omega Ratio Rank: 70
TSMY Calmar Ratio Rank: 85
TSMY Martin Ratio Rank: 82

NVDY

NVDY Risk / Return Rank: 27
NVDY Sharpe Ratio Rank: 24
NVDY Sortino Ratio Rank: 25
NVDY Omega Ratio Rank: 24
NVDY Calmar Ratio Rank: 32
NVDY Martin Ratio Rank: 28

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.

TSMY vs. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSM Option Income Strategy ETF (TSMY) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	1.69	0.55	+1.14
Sortino ratio: Return per unit of downside risk	2.29	0.94	+1.35
Omega ratio: Gain probability vs. loss probability	1.29	1.11	+0.18
Calmar ratio: Return relative to maximum drawdown	3.20	1.06	+2.14
Martin ratio: Return relative to average drawdown	10.72	2.43	+8.30

TSMY vs. NVDY - Sharpe Ratio Comparison

The current TSMY Sharpe Ratio is 1.69, which is higher than the NVDY Sharpe Ratio of 0.55. The chart below compares the historical Sharpe Ratios of TSMY and NVDY, 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

TSMY vs. NVDY - Drawdown Comparison

The maximum TSMY drawdown since its inception was -31.15%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for TSMY and NVDY.

Drawdown Indicators

	TSMY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-31.15%	-34.08%	+2.93%
Max Drawdown (1Y) Largest decline over 1 year	-17.86%	-15.31%	-2.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-11.66%	-10.88%	-0.78%
Average Drawdown Average peak-to-trough decline	-5.63%	-6.35%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.33%	6.70%	-1.37%

Volatility

TSMY vs. NVDY - Volatility Comparison

YieldMax TSM Option Income Strategy ETF (TSMY) has a higher volatility of 11.98% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 9.70%. This indicates that TSMY's price experiences larger fluctuations and is considered to be riskier than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSMY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.98%	9.70%	+2.28%
Volatility (6M) Calculated over the trailing 6-month period	27.90%	22.69%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	33.77%	29.33%	+4.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.64%	37.96%	-3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.64%	37.96%	-3.32%

TSMY vs. NVDY - Expense Ratio Comparison

TSMY has a 1.01% expense ratio, which is higher than NVDY's 0.99% expense ratio.

Dividends

TSMY vs. NVDY - Dividend Comparison

TSMY's dividend yield for the trailing twelve months is around 58.31%, less than NVDY's 63.46% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	63.46%	83.10%	83.65%	22.32%
TSMY YieldMax TSM Option Income Strategy ETF	58.31%	56.76%	13.71%	0.00%

Frequently Asked Questions

Can I hold both TSMY and NVDY in my portfolio?

TSMY and NVDY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSMY or NVDY?

TSMY has higher volatility (11.98%) compared to NVDY (9.70%). In terms of maximum drawdown, TSMY dropped -31.15% vs NVDY's -34.08%.

Which ETF is better, TSMY or NVDY?

On 1-year performance, TSMY leads with 60.64% vs 18.52% for NVDY. On fees, NVDY is cheaper at 0.99% per year. On volatility, NVDY has been the lower-risk option at 9.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSMY or NVDY?

Over the 1-year period, TSMY has performed better with a 60.64% return vs 18.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMY or NVDY?

NVDY is cheaper with a 0.99% expense ratio, compared with 1.01% for TSMY.

Which ETF pays a higher dividend yield, TSMY or NVDY?

NVDY has the higher dividend yield at 63.46%, compared with 58.31% for TSMY.

What is the main difference between TSMY and NVDY?

Their fees differ too: 1.01% for TSMY and 0.99% for NVDY.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (1.69 vs 0.55), 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.