TSMY vs. NVDY

Last updated Jun 24, 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 82.45% vs 33.90% for NVDY. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.99% expense ratio.

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 35.90% return, which is significantly higher than NVDY's 7.04% return.

TSMY

• 1D: -5.90%
• 1M: 5.93%
• YTD: 35.90%
• 6M: 38.06%
• 1Y: 82.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -3.24%
• 1M: -5.21%
• YTD: 7.04%
• 6M: 6.21%
• 1Y: 33.90%
• 3Y*: 50.59%
• 5Y*: —
• 10Y*: —

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

TSMY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	35.90%	41.00%	8.05%
NVDY YieldMax NVDA Option Income Strategy ETF	7.04%	27.38%	10.99%

Correlation

The correlation between TSMY and NVDY is 0.61, 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	0.61
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 0.61 to 0.66 - a consistent structural relationship.

Return for Risk

TSMY vs. NVDY — Risk / Return Rank

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

TSMY

TSMY Risk / Return Rank: 84
TSMY Sharpe Ratio Rank: 86
TSMY Sortino Ratio Rank: 77
TSMY Omega Ratio Rank: 77
TSMY Calmar Ratio Rank: 90
TSMY Martin Ratio Rank: 90

NVDY

NVDY Risk / Return Rank: 39
NVDY Sharpe Ratio Rank: 35
NVDY Sortino Ratio Rank: 33
NVDY Omega Ratio Rank: 32
NVDY Calmar Ratio Rank: 56
NVDY Martin Ratio Rank: 40

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.

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	2.66	1.20	+1.46
Sortino ratio: Return per unit of downside risk	3.23	1.70	+1.52
Omega ratio: Gain probability vs. loss probability	1.43	1.21	+0.22
Calmar ratio: Return relative to maximum drawdown	5.35	2.66	+2.69
Martin ratio: Return relative to average drawdown	19.38	6.05	+13.34

TSMY vs. NVDY - Sharpe Ratio Comparison

The current TSMY Sharpe Ratio is 2.66, which is higher than the NVDY Sharpe Ratio of 1.20. 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	-15.50%	-12.81%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-5.90%	-11.62%	+5.72%
Average Drawdown Average peak-to-trough decline	-5.44%	-6.20%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	5.62%	-1.35%

Volatility

TSMY vs. NVDY - Volatility Comparison

YieldMax TSM Option Income Strategy ETF (TSMY) has a higher volatility of 13.61% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 10.10%. 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	13.61%	10.10%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	25.03%	21.63%	+3.40%
Volatility (1Y) Calculated over the trailing 1-year period	31.14%	28.32%	+2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.94%	38.19%	-4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.94%	38.19%	-4.25%

TSMY vs. NVDY - Expense Ratio Comparison

Both TSMY and NVDY have an expense ratio of 0.99%.

Dividends

TSMY vs. NVDY - Dividend Comparison

TSMY's dividend yield for the trailing twelve months is around 51.03%, less than NVDY's 64.30% yield.

Position	TTM	2025	2024	2023
NVDY YieldMax NVDA Option Income Strategy ETF	64.30%	83.10%	83.65%	22.32%
TSMY YieldMax TSM Option Income Strategy ETF	51.03%	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 0.61, 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 (13.61%) compared to NVDY (10.10%). 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 82.45% vs 33.90% for NVDY. Both ETFs have the same 0.99% expense ratio. On volatility, NVDY has been the lower-risk option at 10.10%. 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 82.45% return vs 33.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSMY or NVDY?

TSMY and NVDY have the same expense ratio: 0.99% per year.

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

NVDY has the higher dividend yield at 64.30%, compared with 51.03% for TSMY.

Which has better risk-adjusted returns?

TSMY currently has the higher Sharpe Ratio (2.66 vs 1.20), 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.