ULTY vs. ITOT

Last updated Jun 13, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both exchange-traded funds - ULTY is a Derivative Income fund actively managed by YieldMax, while ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index. ULTY is actively managed, while ITOT is passively managed. Over the past year, ULTY returned 3.61% vs 24.78% for ITOT. A 0.75 correlation means they provide meaningful diversification when combined. ULTY charges 1.14%/yr vs 0.03%/yr for ITOT.

Performance

ULTY vs. ITOT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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 ITOT's 9.69% return.

ULTY

• 1D: 1.04%
• 1M: -0.81%
• YTD: 8.80%
• 6M: 8.04%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ITOT

• 1D: 0.59%
• 1M: 0.46%
• YTD: 9.69%
• 6M: 9.77%
• 1Y: 24.78%
• 3Y*: 20.61%
• 5Y*: 12.20%
• 10Y*: 14.99%

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

ULTY vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	8.80%	-0.84%	-4.73%
ITOT iShares Core S&P Total U.S. Stock Market ETF	9.69%	17.00%	16.87%

Correlation

The correlation between ULTY and ITOT is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.75

The correlation between ULTY and ITOT has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

ULTY vs. ITOT - Sectors Allocation Comparison

Sectors	ULTY	ITOT
Technology	54.6%	33.8%
Basic Materials	11.7%	2.1%
Industrials	9.3%	9.5%
Communication Services	8.9%	10.3%
Financial Services	8.6%	12.1%
Consumer Cyclical	5.2%	10.1%
Healthcare	1.8%	9.0%
Consumer Defensive	0.0%	4.7%
Energy	-	3.7%
Real Estate	-	2.4%
Utilities	-	2.3%

Return for Risk

ULTY vs. ITOT — 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

ITOT

ITOT Risk / Return Rank: 69
ITOT Sharpe Ratio Rank: 70
ITOT Sortino Ratio Rank: 68
ITOT Omega Ratio Rank: 69
ITOT Calmar Ratio Rank: 64
ITOT Martin Ratio Rank: 76

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. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	0.17	1.96	-1.79
Sortino ratio: Return per unit of downside risk	0.36	2.66	-2.30
Omega ratio: Gain probability vs. loss probability	1.05	1.35	-0.31
Calmar ratio: Return relative to maximum drawdown	0.15	2.80	-2.65
Martin ratio: Return relative to average drawdown	0.29	12.50	-12.21

ULTY vs. ITOT - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.17, which is lower than the ITOT Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of ULTY and ITOT, 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. ITOT - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for ULTY and ITOT.

Drawdown Indicators

	ULTY	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-55.20%	+28.35%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-8.90%	-15.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.36%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-10.79%	-2.12%	-8.67%
Average Drawdown Average peak-to-trough decline	-9.90%	-6.96%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.47%	1.99%	+10.48%

Volatility

ULTY vs. ITOT - Volatility Comparison

YieldMax Ultra Option Income Strategy ETF (ULTY) has a higher volatility of 8.04% compared to iShares Core S&P Total U.S. Stock Market ETF (ITOT) at 4.57%. This indicates that ULTY's price experiences larger fluctuations and is considered to be riskier than ITOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	4.57%	+3.47%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	9.85%	+6.55%
Volatility (1Y) Calculated over the trailing 1-year period	21.55%	12.69%	+8.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.32%	17.43%	+9.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.32%	18.29%	+9.03%

ULTY vs. ITOT - Expense Ratio Comparison

ULTY has a 1.14% expense ratio, which is higher than ITOT's 0.03% expense ratio.

Dividends

ULTY vs. ITOT - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 113.38%, more than ITOT's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	0.99%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
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

Can I hold both ULTY and ITOT in my portfolio?

ULTY and ITOT have a correlation of 0.77, 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 ITOT?

ULTY has higher volatility (8.04%) compared to ITOT (4.57%). In terms of maximum drawdown, ULTY dropped -26.85% vs ITOT's -55.20%.

Which ETF is better, ULTY or ITOT?

On 1-year performance, ITOT leads with 24.78% vs 3.61% for ULTY. On fees, ITOT is cheaper at 0.03% per year. On volatility, ITOT has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or ITOT?

Over the 1-year period, ITOT has performed better with a 24.78% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or ITOT?

ITOT is cheaper with a 0.03% expense ratio, compared with 1.14% for ULTY.

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

ULTY has the higher dividend yield at 113.38%, compared with 0.99% for ITOT.

What is the main difference between ULTY and ITOT?

ULTY is categorized as Derivative Income, while ITOT is Large Cap Blend Equities. They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.14% for ULTY and 0.03% for ITOT.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (1.96 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.