ULTY vs. GPTY

Last updated Jun 14, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and GPTY (YieldMax AI & Tech Portfolio Option Income ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, ULTY returned 5.14% vs 46.73% for GPTY. Their correlation of 0.82 suggests significant overlap in exposure. ULTY charges 1.14%/yr vs 0.99%/yr for GPTY.

Performance

ULTY vs. GPTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax AI & Tech Portfolio Option Income ETF (GPTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULTY achieves a 8.80% return, which is significantly lower than GPTY's 29.45% return.

ULTY

• 1D: 1.04%
• 1M: 0.61%
• YTD: 8.80%
• 6M: 8.04%
• 1Y: 5.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GPTY

• 1D: 0.32%
• 1M: 7.39%
• YTD: 29.45%
• 6M: 28.73%
• 1Y: 46.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ULTY vs. GPTY - Yearly Performance Comparison

	2026 (YTD)	2025
ULTY YieldMax Ultra Option Income Strategy ETF	8.80%	-5.15%
GPTY YieldMax AI & Tech Portfolio Option Income ETF	29.45%	17.77%

Correlation

The correlation between ULTY and GPTY is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.82

The correlation between ULTY and GPTY has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

ULTY vs. GPTY - Sectors Allocation Comparison

Sectors	ULTY	GPTY
Technology	52.3%	78.5%
Basic Materials	12.0%	-
Industrials	10.6%	-
Financial Services	9.8%	4.2%
Communication Services	7.6%	9.6%
Consumer Cyclical	6.6%	7.7%
Healthcare	1.1%	-
Consumer Defensive	0.0%	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

ULTY vs. GPTY — Risk / Return Rank

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

ULTY

ULTY Risk / Return Rank: 12
ULTY Sharpe Ratio Rank: 12
ULTY Sortino Ratio Rank: 12
ULTY Omega Ratio Rank: 12
ULTY Calmar Ratio Rank: 11
ULTY Martin Ratio Rank: 11

GPTY

GPTY Risk / Return Rank: 56
GPTY Sharpe Ratio Rank: 63
GPTY Sortino Ratio Rank: 57
GPTY Omega Ratio Rank: 61
GPTY Calmar Ratio Rank: 54
GPTY Martin Ratio Rank: 43

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.

ULTY vs. GPTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax AI & Tech Portfolio Option Income ETF (GPTY). 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	GPTY	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.81	-1.65
Sortino ratio: Return per unit of downside risk	0.36	2.37	-2.01
Omega ratio: Gain probability vs. loss probability	1.05	1.32	-0.27
Calmar ratio: Return relative to maximum drawdown	0.15	2.36	-2.21
Martin ratio: Return relative to average drawdown	0.29	6.21	-5.92

ULTY vs. GPTY - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.17, which is lower than the GPTY Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of ULTY and GPTY, 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. GPTY - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, roughly equal to the maximum GPTY drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for ULTY and GPTY.

Drawdown Indicators

	ULTY	GPTY	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-26.62%	-0.23%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-19.32%	-4.84%
Current Drawdown Current decline from peak	-10.79%	-6.41%	-4.38%
Average Drawdown Average peak-to-trough decline	-9.90%	-6.51%	-3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.47%	7.33%	+5.14%

Volatility

ULTY vs. GPTY - Volatility Comparison

The current volatility for YieldMax Ultra Option Income Strategy ETF (ULTY) is 8.04%, while YieldMax AI & Tech Portfolio Option Income ETF (GPTY) has a volatility of 11.88%. This indicates that ULTY experiences smaller price fluctuations and is considered to be less risky than GPTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	GPTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	11.88%	-3.84%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	20.45%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.55%	25.17%	-3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.32%	29.64%	-2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.32%	29.64%	-2.32%

ULTY vs. GPTY - Expense Ratio Comparison

ULTY has a 1.14% expense ratio, which is higher than GPTY's 0.99% expense ratio.

Dividends

ULTY vs. GPTY - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 113.38%, more than GPTY's 33.93% yield.

Position	TTM	2025	2024
GPTY YieldMax AI & Tech Portfolio Option Income ETF	33.93%	34.23%	0.00%
ULTY YieldMax Ultra Option Income Strategy ETF	113.38%	142.99%	111.70%

Frequently Asked Questions

Can I hold both ULTY and GPTY in my portfolio?

ULTY and GPTY have a correlation of 0.79, 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 GPTY?

GPTY has higher volatility (11.88%) compared to ULTY (8.04%). In terms of maximum drawdown, ULTY dropped -26.85% vs GPTY's -26.62%.

Which ETF is better, ULTY or GPTY?

On 1-year performance, GPTY leads with 46.73% vs 5.14% for ULTY. On fees, GPTY is cheaper at 0.99% per year. On volatility, ULTY has been the lower-risk option at 8.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or GPTY?

Over the 1-year period, GPTY has performed better with a 46.73% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or GPTY?

GPTY is cheaper with a 0.99% expense ratio, compared with 1.14% for ULTY.

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

ULTY has the higher dividend yield at 113.38%, compared with 33.93% for GPTY.

What is the main difference between ULTY and GPTY?

Their fees differ too: 1.14% for ULTY and 0.99% for GPTY.

Which has better risk-adjusted returns?

GPTY currently has the higher Sharpe Ratio (1.81 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.