ULTI vs. HYGW
ULTI (REX IncomeMax Option Strategy ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. ULTI is actively managed, while HYGW is passively managed. Their 0.40 correlation means their historical movements had little consistent relationship. ULTI charges 1.25%/yr vs 0.69%/yr for HYGW.
Performance
ULTI vs. HYGW - Performance Comparison
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Returns By Period
In the year-to-date period, ULTI achieves a -12.35% return, which is significantly lower than HYGW's 2.94% return.
ULTI
- 1D
- 3.80%
- 1M
- -18.69%
- 6M
- -23.16%
- YTD
- -12.35%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
HYGW
- 1D
- 0.25%
- 1M
- 0.60%
- 6M
- 2.29%
- YTD
- 2.94%
- 1Y
- 6.30%
- 3Y*
- 5.58%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.81%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $522.43K | $620.74K | $795.59K | |
| $651.44K | $766.06K | $1.11M |
ULTI vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ULTI REX IncomeMax Option Strategy ETF | -12.35% | -38.67% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.94% | 1.22% |
Correlation
The correlation between ULTI and HYGW is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 31, 2025 | 0.40 |
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Return for Risk
ULTI vs. HYGW — Risk / Return Rank
ULTI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYGW
ULTI vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for REX IncomeMax Option Strategy ETF (ULTI) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| ULTI | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.44 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.48 | — |
| Martin ratioReturn relative to average drawdown | — | 15.53 | — |
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Drawdowns
ULTI vs. HYGW - Drawdown Comparison
The maximum ULTI drawdown since its inception was -54.23%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for ULTI and HYGW.
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Drawdown Indicators
| ULTI | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.23% | -5.49% | -48.74% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.82% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.42% | — |
Current DrawdownCurrent decline from peak | -46.25% | 0.00% | -46.25% |
Average DrawdownAverage peak-to-trough decline | -29.84% | -0.59% | -29.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
ULTI vs. HYGW - Volatility Comparison
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Volatility by Period
| ULTI | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.88% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.35% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 61.64% | 2.94% | +58.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.64% | 4.61% | +57.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.64% | 4.61% | +57.03% |
ULTI vs. HYGW - Expense Ratio Comparison
ULTI has a 1.25% expense ratio, which is higher than HYGW's 0.69% expense ratio.
Dividends
ULTI vs. HYGW - Dividend Comparison
ULTI's dividend yield for the trailing twelve months is around 94.80%, more than HYGW's 10.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 10.35% | 12.53% | 12.30% | 15.98% | 8.71% |
ULTI REX IncomeMax Option Strategy ETF | 94.80% | 14.96% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ULTI and HYGW have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYGW is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGW is cheaper with a 0.69% expense ratio, compared with 1.25% for ULTI.
ULTI has the higher dividend yield at 94.80%, compared with 10.35% for HYGW.
They also come from different issuers: REX Shares and iShares. Their fees differ too: 1.25% for ULTI and 0.69% for HYGW.
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