ULTY vs. SUN

Last updated Jun 9, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while SUN (Sunoco LP) is a stock. Over the past year, ULTY returned 4.18% vs 29.97% for SUN. At a 0.10 correlation, their price movements are largely independent.

Performance

ULTY vs. SUN - Performance Comparison

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

Returns By Period

In the year-to-date period, ULTY achieves a 7.39% return, which is significantly lower than SUN's 28.86% return.

ULTY

• 1D: 0.94%
• 1M: -1.19%
• YTD: 7.39%
• 6M: 5.32%
• 1Y: 4.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SUN

• 1D: -1.15%
• 1M: -2.20%
• YTD: 28.86%
• 6M: 25.56%
• 1Y: 29.97%
• 3Y*: 21.63%
• 5Y*: 20.04%
• 10Y*: 18.61%

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

ULTY vs. SUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	7.39%	-0.84%	-4.73%
SUN Sunoco LP	28.86%	8.88%	-10.15%

Correlation

The correlation between ULTY and SUN is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.10

The correlation between ULTY and SUN shifts across timeframes, from -0.05 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ULTY vs. SUN — 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

SUN

SUN Risk / Return Rank: 77
SUN Sharpe Ratio Rank: 80
SUN Sortino Ratio Rank: 74
SUN Omega Ratio Rank: 70
SUN Calmar Ratio Rank: 82
SUN Martin Ratio Rank: 82

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. SUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Sunoco LP (SUN). 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.

	ULTY	SUN	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.32	-1.12
Sortino ratio: Return per unit of downside risk	0.40	1.85	-1.45
Omega ratio: Gain probability vs. loss probability	1.05	1.22	-0.17
Calmar ratio: Return relative to maximum drawdown	0.17	2.76	-2.59
Martin ratio: Return relative to average drawdown	0.34	7.02	-6.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ULTY vs. SUN - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.20, which is lower than the SUN Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of ULTY and SUN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ULTY	SUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	1.32	-1.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.53	-0.41

Drawdowns

ULTY vs. SUN - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum SUN drawdown of -65.47%. Use the drawdown chart below to compare losses from any high point for ULTY and SUN.

Drawdown Indicators

	ULTY	SUN	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-65.47%	+38.62%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-10.91%	-13.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-21.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.94%	—
Current Drawdown Current decline from peak	-11.95%	-9.29%	-2.66%
Average Drawdown Average peak-to-trough decline	-9.38%	-16.31%	+6.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.37%	4.28%	+8.09%

Volatility

ULTY vs. SUN - Volatility Comparison

The current volatility for YieldMax Ultra Option Income Strategy ETF (ULTY) is 6.96%, while Sunoco LP (SUN) has a volatility of 8.42%. This indicates that ULTY experiences smaller price fluctuations and is considered to be less risky than SUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	SUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	8.42%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	16.61%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	21.21%	22.92%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.07%	23.62%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.07%	31.75%	-4.68%

Dividends

ULTY vs. SUN - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 115.53%, more than SUN's 5.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SUN Sunoco LP	5.73%	6.89%	6.74%	5.59%	7.66%	8.09%	11.47%	10.79%	12.14%	11.63%	12.16%	6.78%
ULTY YieldMax Ultra Option Income Strategy ETF	115.53%	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 SUN in my portfolio?

ULTY and SUN have a correlation of -0.05, 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 SUN?

SUN has higher volatility (8.42%) compared to ULTY (6.96%). In terms of maximum drawdown, ULTY dropped -26.85% vs SUN's -65.47%.

Which has better risk-adjusted returns?

SUN currently has the higher Sharpe Ratio (1.32 vs 0.20), 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.