ULTY vs. SOXY

Last updated Aug 2, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, ULTY returned -9.45% vs 93.60% for SOXY. Their 0.75 correlation means they have sometimes moved together and sometimes differently. ULTY charges 1.40%/yr vs 1.06%/yr for SOXY.

Performance

ULTY vs. SOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ULTY achieves a 2.90% return, which is significantly lower than SOXY's 58.34% return.

ULTY

• 1D: 0.58%
• 1M: -3.39%
• 6M: 1.20%
• YTD: 2.90%
• 1Y: -9.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -1.16%

SOXY

• 1D: 0.60%
• 1M: -12.01%
• 6M: 42.45%
• YTD: 58.34%
• 1Y: 93.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 58.65%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.44M	$2.09M
ULTY YieldMax Ultra Option Income Strategy ETF	$16.46M	$14.74M	$17.73M

ULTY vs. SOXY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	2.90%	-0.84%	-4.07%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	58.34%	37.00%	-0.99%

Correlation

The correlation between ULTY and SOXY is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024	0.75

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

ULTY vs. SOXY - Sectors Allocation Comparison

Sectors	ULTY	SOXY
Technology	52.5%	100.0%
Industrials	13.3%	0.0%
Consumer Cyclical	10.6%	0.0%
Financial Services	8.3%	0.1%
Basic Materials	7.0%	0.0%
Communication Services	6.6%	0.0%
Healthcare	1.9%	0.0%
Consumer Defensive	0.0%	0.0%
Energy	-	0.0%
Real Estate	-	-
Utilities	-	0.0%

Return for Risk

ULTY vs. SOXY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ULTY

ULTY Risk / Return Rank: 5
ULTY Sharpe Ratio Rank: 5
ULTY Sortino Ratio Rank: 5
ULTY Omega Ratio Rank: 5
ULTY Calmar Ratio Rank: 5
ULTY Martin Ratio Rank: 5

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 91
SOXY Sortino Ratio Rank: 83
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ULTY vs. SOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and YieldMax Target 12™ Semiconductor Option Income ETF (SOXY). 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	SOXY	Difference
Sharpe ratio: Return per unit of total volatility	-0.52	2.30	-2.82
Sortino ratio: Return per unit of downside risk	-0.57	2.73	-3.30
Omega ratio: Gain probability vs. loss probability	0.93	1.37	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.47	3.21	-3.68
Martin ratio: Return relative to average drawdown	-0.86	14.50	-15.36

ULTY vs. SOXY - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is -0.52, which is lower than the SOXY Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of ULTY and SOXY, 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. SOXY - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum SOXY drawdown of -30.22%. Use the drawdown chart below to compare losses from any high point for ULTY and SOXY.

Drawdown Indicators

	ULTY	SOXY	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-30.22%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-28.56%	+4.40%
Current Drawdown Current decline from peak	-15.63%	-21.71%	+6.08%
Average Drawdown Average peak-to-trough decline	-10.03%	-5.49%	-4.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.27%	6.31%	+6.96%

Volatility

ULTY vs. SOXY - Volatility Comparison

The current volatility for YieldMax Ultra Option Income Strategy ETF (ULTY) is 6.71%, while YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) has a volatility of 18.62%. This indicates that ULTY experiences smaller price fluctuations and is considered to be less risky than SOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	SOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	18.62%	-11.91%
Volatility (6M) Calculated over the trailing 6-month period	17.07%	35.73%	-18.66%
Volatility (1Y) Calculated over the trailing 1-year period	22.12%	39.94%	-17.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.08%	39.31%	-12.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.08%	39.31%	-12.23%

ULTY vs. SOXY - Expense Ratio Comparison

ULTY has a 1.40% expense ratio, which is higher than SOXY's 1.06% expense ratio.

Dividends

ULTY vs. SOXY - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 113.74%, more than SOXY's 9.41% yield.

Position	TTM	2025	2024
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.41%	11.47%	0.00%
ULTY YieldMax Ultra Option Income Strategy ETF	113.74%	142.99%	111.70%

Frequently Asked Questions

Can I hold both ULTY and SOXY in my portfolio?

ULTY and SOXY 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 SOXY?

SOXY has higher volatility (18.62%) compared to ULTY (6.71%). In terms of maximum drawdown, ULTY dropped -26.85% vs SOXY's -30.22%.

Which ETF is better, ULTY or SOXY?

On 1-year performance, SOXY leads with 93.60% vs -9.45% for ULTY. On fees, SOXY is cheaper at 1.06% per year. On volatility, ULTY has been the lower-risk option at 6.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or SOXY?

Over the 1-year period, SOXY has performed better with a 93.60% return vs -9.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or SOXY?

SOXY is cheaper with a 1.06% expense ratio, compared with 1.40% for ULTY.

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

ULTY has the higher dividend yield at 113.74%, compared with 9.41% for SOXY.

What is the main difference between ULTY and SOXY?

Their fees differ too: 1.40% for ULTY and 1.06% for SOXY.

Which has better risk-adjusted returns?

SOXY currently has the higher Sharpe Ratio (2.30 vs -0.52), 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.