ULTY vs. NVDW

Last updated Jun 24, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and NVDW (Roundhill NVDA WeeklyPay ETF) are both Derivative Income funds. Both are actively managed. Over the past year, ULTY returned 1.77% vs 40.81% for NVDW. A 0.54 correlation means they provide meaningful diversification when combined. ULTY charges 1.14%/yr vs 0.99%/yr for NVDW.

Performance

ULTY vs. NVDW - Performance Comparison

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

Returns By Period

In the year-to-date period, ULTY achieves a 8.38% return, which is significantly higher than NVDW's 6.30% return.

ULTY

• 1D: -2.50%
• 1M: -0.24%
• YTD: 8.38%
• 6M: 5.78%
• 1Y: 1.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDW

• 1D: -4.59%
• 1M: -8.60%
• YTD: 6.30%
• 6M: 4.41%
• 1Y: 40.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ULTY vs. NVDW - Yearly Performance Comparison

	2026 (YTD)	2025
ULTY YieldMax Ultra Option Income Strategy ETF	8.38%	-1.19%
NVDW Roundhill NVDA WeeklyPay ETF	6.30%	33.44%

Correlation

The correlation between ULTY and NVDW is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Jun 2, 2025	0.54

The correlation between ULTY and NVDW has been stable across timeframes, ranging from 0.54 to 0.54 - a consistent structural relationship.

Return for Risk

ULTY vs. NVDW — Risk / Return Rank

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

ULTY

ULTY Risk / Return Rank: 9
ULTY Sharpe Ratio Rank: 10
ULTY Sortino Ratio Rank: 9
ULTY Omega Ratio Rank: 9
ULTY Calmar Ratio Rank: 9
ULTY Martin Ratio Rank: 9

NVDW

NVDW Risk / Return Rank: 29
NVDW Sharpe Ratio Rank: 28
NVDW Sortino Ratio Rank: 29
NVDW Omega Ratio Rank: 27
NVDW Calmar Ratio Rank: 33
NVDW Martin Ratio Rank: 28

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. NVDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Roundhill NVDA WeeklyPay ETF (NVDW). 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	NVDW	Difference
Sharpe ratio: Return per unit of total volatility	0.08	0.96	-0.88
Sortino ratio: Return per unit of downside risk	0.25	1.52	-1.27
Omega ratio: Gain probability vs. loss probability	1.03	1.18	-0.15
Calmar ratio: Return relative to maximum drawdown	0.07	1.61	-1.53
Martin ratio: Return relative to average drawdown	0.14	3.72	-3.58

ULTY vs. NVDW - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.08, which is lower than the NVDW Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of ULTY and NVDW, 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. NVDW - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, which is greater than NVDW's maximum drawdown of -25.54%. Use the drawdown chart below to compare losses from any high point for ULTY and NVDW.

Drawdown Indicators

	ULTY	NVDW	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-25.54%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-25.54%	+1.38%
Current Drawdown Current decline from peak	-11.14%	-18.09%	+6.95%
Average Drawdown Average peak-to-trough decline	-9.89%	-8.50%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	11.01%	+1.54%

Volatility

ULTY vs. NVDW - Volatility Comparison

The current volatility for YieldMax Ultra Option Income Strategy ETF (ULTY) is 8.55%, while Roundhill NVDA WeeklyPay ETF (NVDW) has a volatility of 15.16%. This indicates that ULTY experiences smaller price fluctuations and is considered to be less risky than NVDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	NVDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	15.16%	-6.61%
Volatility (6M) Calculated over the trailing 6-month period	16.32%	32.09%	-15.77%
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	42.50%	-20.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.31%	42.02%	-14.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.31%	42.02%	-14.71%

ULTY vs. NVDW - Expense Ratio Comparison

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

Dividends

ULTY vs. NVDW - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 113.66%, more than NVDW's 63.83% yield.

Position	TTM	2025	2024
NVDW Roundhill NVDA WeeklyPay ETF	63.83%	38.94%	0.00%
ULTY YieldMax Ultra Option Income Strategy ETF	113.66%	142.99%	111.70%

Frequently Asked Questions

Can I hold both ULTY and NVDW in my portfolio?

ULTY and NVDW have a correlation of 0.54, 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 NVDW?

NVDW has higher volatility (15.16%) compared to ULTY (8.55%). In terms of maximum drawdown, ULTY dropped -26.85% vs NVDW's -25.54%.

Which ETF is better, ULTY or NVDW?

On 1-year performance, NVDW leads with 40.81% vs 1.77% for ULTY. On fees, NVDW is cheaper at 0.99% per year. On volatility, ULTY has been the lower-risk option at 8.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or NVDW?

Over the 1-year period, NVDW has performed better with a 40.81% return vs 1.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or NVDW?

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

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

ULTY has the higher dividend yield at 113.66%, compared with 63.83% for NVDW.

What is the main difference between ULTY and NVDW?

They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.14% for ULTY and 0.99% for NVDW.

Which has better risk-adjusted returns?

NVDW currently has the higher Sharpe Ratio (0.96 vs 0.08), 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.