ULTY vs. SLTY

Last updated Jun 24, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and SLTY (YieldMax Ultra Short Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. At a correlation of -0.60, they often move in opposite directions. ULTY charges 1.14%/yr vs 1.24%/yr for SLTY.

Performance

ULTY vs. SLTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax Ultra Short Option Income Strategy ETF (SLTY). 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 SLTY's -4.71% return.

ULTY

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

SLTY

• 1D: 0.55%
• 1M: 1.09%
• YTD: -4.71%
• 6M: -3.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ULTY vs. SLTY - Yearly Performance Comparison

	2026 (YTD)	2025
ULTY YieldMax Ultra Option Income Strategy ETF	8.38%	-10.56%
SLTY YieldMax Ultra Short Option Income Strategy ETF	-4.71%	-12.61%

Correlation

The correlation between ULTY and SLTY is -0.60, 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 (All Time) Calculated using the full available price history since Aug 21, 2025	-0.60

Return for Risk

ULTY vs. SLTY — 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

SLTY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SLTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax Ultra Short Option Income Strategy ETF (SLTY). 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	SLTY	Difference
Sharpe ratio: Return per unit of total volatility	0.08	—	—
Sortino ratio: Return per unit of downside risk	0.25	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	0.07	—	—
Martin ratio: Return relative to average drawdown	0.14	—	—

Drawdowns

ULTY vs. SLTY - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, which is greater than SLTY's maximum drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for ULTY and SLTY.

Drawdown Indicators

	ULTY	SLTY	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-21.27%	-5.58%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	—	—
Current Drawdown Current decline from peak	-11.14%	-16.73%	+5.59%
Average Drawdown Average peak-to-trough decline	-9.89%	-14.33%	+4.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	—	—

Volatility

Volatility by Period

	ULTY	SLTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.68%	18.12%	+3.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.31%	18.12%	+9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.31%	18.12%	+9.19%

ULTY vs. SLTY - Expense Ratio Comparison

ULTY has a 1.14% expense ratio, which is lower than SLTY's 1.24% expense ratio.

Dividends

ULTY vs. SLTY - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 113.66%, more than SLTY's 77.13% yield.

Position	TTM	2025	2024
SLTY YieldMax Ultra Short Option Income Strategy ETF	77.13%	29.68%	0.00%
ULTY YieldMax Ultra Option Income Strategy ETF	113.66%	142.99%	111.70%

Frequently Asked Questions

Can I hold both ULTY and SLTY in my portfolio?

ULTY and SLTY have a correlation of -0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ULTY or SLTY?

On fees, ULTY is cheaper at 1.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ULTY or SLTY?

ULTY is cheaper with a 1.14% expense ratio, compared with 1.24% for SLTY.

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

ULTY has the higher dividend yield at 113.66%, compared with 77.13% for SLTY.

What is the main difference between ULTY and SLTY?

Their fees differ too: 1.14% for ULTY and 1.24% for SLTY.