ULTY vs. CVX
ULTY (YieldMax Ultra Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while CVX (Chevron Corporation) is a stock. Over the past year, ULTY returned 3.61% vs 34.55% for CVX. At a 0.03 correlation, their price movements are largely independent.
Performance
ULTY vs. CVX - Performance Comparison
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Returns By Period
In the year-to-date period, ULTY achieves a 8.80% return, which is significantly lower than CVX's 25.18% return.
ULTY
- 1D
- 1.04%
- 1M
- -0.81%
- YTD
- 8.80%
- 6M
- 8.04%
- 1Y
- 3.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CVX
- 1D
- 0.75%
- 1M
- 1.58%
- YTD
- 25.18%
- 6M
- 27.20%
- 1Y
- 34.55%
- 3Y*
- 10.25%
- 5Y*
- 16.33%
- 10Y*
- 10.94%
ULTY vs. CVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ULTY YieldMax Ultra Option Income Strategy ETF | 8.80% | -0.84% | -4.73% |
CVX Chevron Corporation | 25.18% | 10.10% | -1.90% |
Correlation
The correlation between ULTY and CVX is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024 | 0.03 |
The correlation between ULTY and CVX shifts across timeframes, from -0.10 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ULTY vs. CVX — Risk / Return Rank
ULTY
CVX
ULTY vs. CVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Chevron Corporation (CVX). 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 | CVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -1.76 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.27 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.48 | -2.33 |
| Martin ratioReturn relative to average drawdown | 0.29 | 6.10 | -5.81 |
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Drawdowns
ULTY vs. CVX - Drawdown Comparison
The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum CVX drawdown of -55.77%. Use the drawdown chart below to compare losses from any high point for ULTY and CVX.
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Drawdown Indicators
| ULTY | CVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.85% | -55.77% | +28.92% |
Max Drawdown (1Y)Largest decline over 1 year | -24.16% | -13.99% | -10.17% |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.77% | — |
Current DrawdownCurrent decline from peak | -10.79% | -10.52% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -11.39% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.47% | 5.68% | +6.79% |
Volatility
ULTY vs. CVX - Volatility Comparison
YieldMax Ultra Option Income Strategy ETF (ULTY) has a higher volatility of 8.04% compared to Chevron Corporation (CVX) at 7.62%. This indicates that ULTY's price experiences larger fluctuations and is considered to be riskier than CVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ULTY | CVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.04% | 7.62% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 16.40% | 17.86% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.55% | 22.06% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.32% | 25.15% | +2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.32% | 29.16% | -1.84% |
Dividends
ULTY vs. CVX - Dividend Comparison
ULTY's dividend yield for the trailing twelve months is around 113.38%, more than CVX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.73% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
ULTY YieldMax Ultra Option Income Strategy ETF | 113.38% | 142.99% | 111.70% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ULTY and CVX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ULTY has higher volatility (8.04%) compared to CVX (7.62%). In terms of maximum drawdown, ULTY dropped -26.85% vs CVX's -55.77%.
CVX currently has the higher Sharpe Ratio (1.57 vs 0.17), 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.
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