ULTY vs. VBR

Last updated Jun 9, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and VBR (Vanguard Small-Cap Value ETF) are both exchange-traded funds - ULTY is a Derivative Income fund actively managed by YieldMax, while VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index. ULTY is actively managed, while VBR is passively managed. Over the past year, ULTY returned 4.18% vs 24.85% for VBR. A 0.58 correlation means they provide meaningful diversification when combined. ULTY charges 1.14%/yr vs 0.05%/yr for VBR.

Performance

ULTY vs. VBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and Vanguard Small-Cap Value ETF (VBR). 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 VBR's 11.45% return.

ULTY

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

VBR

• 1D: 0.16%
• 1M: 0.48%
• YTD: 11.45%
• 6M: 12.14%
• 1Y: 24.85%
• 3Y*: 15.60%
• 5Y*: 7.78%
• 10Y*: 10.50%

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

ULTY vs. VBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	7.39%	-0.84%	-4.73%
VBR Vanguard Small-Cap Value ETF	11.45%	9.09%	11.41%

Correlation

The correlation between ULTY and VBR is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.58

The correlation between ULTY and VBR has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.

ULTY vs. VBR - Sectors Allocation Comparison

Sectors	ULTY	VBR
Technology	54.6%	10.6%
Basic Materials	11.7%	6.3%
Industrials	9.3%	18.1%
Communication Services	8.9%	2.5%
Financial Services	8.6%	17.6%
Consumer Cyclical	5.2%	12.4%
Healthcare	1.8%	7.9%
Consumer Defensive	0.0%	4.0%
Energy	-	5.2%
Real Estate	-	10.1%
Utilities	-	4.8%

Return for Risk

ULTY vs. VBR — 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

VBR

VBR Risk / Return Rank: 57
VBR Sharpe Ratio Rank: 53
VBR Sortino Ratio Rank: 56
VBR Omega Ratio Rank: 51
VBR Calmar Ratio Rank: 62
VBR Martin Ratio Rank: 61

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. VBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Vanguard Small-Cap Value ETF (VBR). 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	VBR	Difference
Sharpe ratio: Return per unit of total volatility	0.20	1.65	-1.45
Sortino ratio: Return per unit of downside risk	0.40	2.43	-2.04
Omega ratio: Gain probability vs. loss probability	1.05	1.29	-0.24
Calmar ratio: Return relative to maximum drawdown	0.17	2.82	-2.65
Martin ratio: Return relative to average drawdown	0.34	9.94	-9.60
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. VBR - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.20, which is lower than the VBR Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of ULTY and VBR, 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	VBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	1.65	-1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.40	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.42	-0.30

Drawdowns

ULTY vs. VBR - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum VBR drawdown of -61.98%. Use the drawdown chart below to compare losses from any high point for ULTY and VBR.

Drawdown Indicators

	ULTY	VBR	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-61.98%	+35.13%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-8.85%	-15.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.19%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.19%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.28%	—
Current Drawdown Current decline from peak	-11.95%	-0.95%	-11.00%
Average Drawdown Average peak-to-trough decline	-9.38%	-8.26%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.37%	2.51%	+9.86%

Volatility

ULTY vs. VBR - Volatility Comparison

YieldMax Ultra Option Income Strategy ETF (ULTY) has a higher volatility of 6.96% compared to Vanguard Small-Cap Value ETF (VBR) at 3.67%. This indicates that ULTY's price experiences larger fluctuations and is considered to be riskier than VBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	VBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	3.67%	+3.29%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	10.49%	+5.39%
Volatility (1Y) Calculated over the trailing 1-year period	21.21%	15.16%	+6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.07%	19.77%	+7.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.07%	21.74%	+5.33%

ULTY vs. VBR - Expense Ratio Comparison

ULTY has a 1.14% expense ratio, which is higher than VBR's 0.05% expense ratio.

Dividends

ULTY vs. VBR - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 115.53%, more than VBR's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VBR Vanguard Small-Cap Value ETF	1.76%	1.95%	1.98%	2.12%	2.03%	1.75%	1.68%	2.06%	2.35%	1.79%	1.77%	1.99%

Frequently Asked Questions

Can I hold both ULTY and VBR in my portfolio?

ULTY and VBR have a correlation of 0.52, 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 VBR?

ULTY has higher volatility (6.96%) compared to VBR (3.67%). In terms of maximum drawdown, ULTY dropped -26.85% vs VBR's -61.98%.

Which ETF is better, ULTY or VBR?

On 1-year performance, VBR leads with 24.85% vs 4.18% for ULTY. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or VBR?

Over the 1-year period, VBR has performed better with a 24.85% return vs 4.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ULTY or VBR?

VBR is cheaper with a 0.05% expense ratio, compared with 1.14% for ULTY.

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

ULTY has the higher dividend yield at 115.53%, compared with 1.76% for VBR.

What is the main difference between ULTY and VBR?

ULTY is categorized as Derivative Income, while VBR is Small Cap Value Equities. They also come from different issuers: YieldMax and Vanguard. Their fees differ too: 1.14% for ULTY and 0.05% for VBR.

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.65 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.