ULTY vs. BALI

Last updated Aug 6, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both Derivative Income funds. Both are actively managed. Over the past year, ULTY returned -7.91% vs 25.11% for BALI. Their 0.68 correlation means they have sometimes moved together and sometimes differently. ULTY charges 1.40%/yr vs 0.35%/yr for BALI.

Performance

ULTY vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULTY achieves a 6.38% return, which is significantly lower than BALI's 15.45% return.

ULTY

• 1D: -0.49%
• 1M: -1.74%
• 6M: 7.54%
• YTD: 6.38%
• 1Y: -7.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.20%

BALI

• 1D: 0.12%
• 1M: 3.53%
• 6M: 13.95%
• YTD: 15.45%
• 1Y: 25.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.28%

*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)
BALI Blackrock Advantage Large Cap Income ETF	$7.36M	$7.38M	$9.08M
ULTY YieldMax Ultra Option Income Strategy ETF	$14.52M	$14.36M	$17.70M

ULTY vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	6.38%	-0.84%	-4.73%
BALI Blackrock Advantage Large Cap Income ETF	15.45%	14.51%	15.67%

Correlation

The correlation between ULTY and BALI is 0.74, 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.	0.74
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.68

The correlation between ULTY and BALI has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

ULTY vs. BALI - Sectors Allocation Comparison

Sectors	ULTY	BALI
Technology	52.5%	36.2%
Industrials	13.3%	8.1%
Consumer Cyclical	10.6%	10.1%
Financial Services	8.3%	9.7%
Basic Materials	7.0%	1.4%
Communication Services	6.6%	10.0%
Healthcare	1.9%	10.6%
Consumer Defensive	0.0%	6.0%
Energy	-	4.1%
Real Estate	-	2.2%
Utilities	-	1.6%

Return for Risk

ULTY vs. BALI — Risk / Return Rank

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

ULTY

ULTY Risk / Return Rank: 6
ULTY Sharpe Ratio Rank: 6
ULTY Sortino Ratio Rank: 6
ULTY Omega Ratio Rank: 6
ULTY Calmar Ratio Rank: 7
ULTY Martin Ratio Rank: 7

BALI

BALI Risk / Return Rank: 89
BALI Sharpe Ratio Rank: 89
BALI Sortino Ratio Rank: 88
BALI Omega Ratio Rank: 89
BALI Calmar Ratio Rank: 86
BALI Martin Ratio Rank: 92

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.

ULTY vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	ULTY	BALI	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	2.37	-2.73
Sortino ratio: Return per unit of downside risk	-0.35	3.27	-3.62
Omega ratio: Gain probability vs. loss probability	0.96	1.44	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.33	3.76	-4.09
Martin ratio: Return relative to average drawdown	-0.59	17.53	-18.13

ULTY vs. BALI - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is -0.36, which is lower than the BALI Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of ULTY and BALI, 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

ULTY vs. BALI - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for ULTY and BALI.

Drawdown Indicators

	ULTY	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-16.65%	-10.20%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-6.71%	-17.45%
Current Drawdown Current decline from peak	-12.78%	0.00%	-12.78%
Average Drawdown Average peak-to-trough decline	-10.04%	-1.59%	-8.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.34%	1.44%	+11.90%

Volatility

ULTY vs. BALI - Volatility Comparison

YieldMax Ultra Option Income Strategy ETF (ULTY) has a higher volatility of 6.76% compared to Blackrock Advantage Large Cap Income ETF (BALI) at 3.28%. This indicates that ULTY's price experiences larger fluctuations and is considered to be riskier than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	3.28%	+3.48%
Volatility (6M) Calculated over the trailing 6-month period	17.20%	8.53%	+8.67%
Volatility (1Y) Calculated over the trailing 1-year period	22.12%	10.65%	+11.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.07%	12.91%	+14.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.07%	12.91%	+14.16%

ULTY vs. BALI - Expense Ratio Comparison

ULTY has a 1.40% expense ratio, which is higher than BALI's 0.35% expense ratio.

Dividends

ULTY vs. BALI - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 112.43%, more than BALI's 7.63% yield.

Position	TTM	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	7.63%	8.51%	7.13%	2.13%
ULTY YieldMax Ultra Option Income Strategy ETF	112.43%	142.99%	111.70%	0.00%

Frequently Asked Questions

Can I hold both ULTY and BALI in my portfolio?

ULTY and BALI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ULTY or BALI?

ULTY has higher volatility (6.76%) compared to BALI (3.28%). In terms of maximum drawdown, ULTY dropped -26.85% vs BALI's -16.65%.

Which ETF is better, ULTY or BALI?

On 1-year performance, BALI leads with 25.11% vs -7.91% for ULTY. On fees, BALI is cheaper at 0.35% per year. On volatility, BALI has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or BALI?

Over the 1-year period, BALI has performed better with a 25.11% return vs -7.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or BALI?

BALI is cheaper with a 0.35% expense ratio, compared with 1.40% for ULTY.

Which ETF pays a higher dividend yield, ULTY or BALI?

ULTY has the higher dividend yield at 112.43%, compared with 7.63% for BALI.

What is the main difference between ULTY and BALI?

They also come from different issuers: YieldMax and BlackRock. Their fees differ too: 1.40% for ULTY and 0.35% for BALI.

Which has better risk-adjusted returns?

BALI currently has the higher Sharpe Ratio (2.37 vs -0.36), 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.