ULTY vs. VNQ

Last updated Jun 9, 2026

ULTY (YieldMax Ultra Option Income Strategy ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - ULTY is a Derivative Income fund actively managed by YieldMax, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. ULTY is actively managed, while VNQ is passively managed. Over the past year, ULTY returned 4.18% vs 10.45% for VNQ. At a 0.29 correlation, their price movements are largely independent. ULTY charges 1.14%/yr vs 0.13%/yr for VNQ.

Performance

ULTY vs. VNQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Ultra Option Income Strategy ETF (ULTY) and Vanguard Real Estate ETF (VNQ). 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 VNQ's 9.04% return.

ULTY

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

VNQ

• 1D: -1.36%
• 1M: -1.19%
• YTD: 9.04%
• 6M: 9.17%
• 1Y: 10.45%
• 3Y*: 9.24%
• 5Y*: 1.97%
• 10Y*: 5.30%

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

ULTY vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ULTY YieldMax Ultra Option Income Strategy ETF	7.39%	-0.84%	-4.73%
VNQ Vanguard Real Estate ETF	9.04%	3.24%	9.17%

Correlation

The correlation between ULTY and VNQ is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.29

ULTY vs. VNQ - Sectors Allocation Comparison

Sectors	ULTY	VNQ
Technology	54.6%	0.3%
Basic Materials	11.7%	1.1%
Industrials	9.3%	0.0%
Communication Services	8.9%	0.6%
Financial Services	8.6%	0.1%
Consumer Cyclical	5.2%	-
Healthcare	1.8%	-
Consumer Defensive	0.0%	-
Energy	-	0.1%
Real Estate	-	97.3%
Utilities	-	-

Return for Risk

ULTY vs. VNQ — 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

VNQ

VNQ Risk / Return Rank: 26
VNQ Sharpe Ratio Rank: 24
VNQ Sortino Ratio Rank: 23
VNQ Omega Ratio Rank: 23
VNQ Calmar Ratio Rank: 28
VNQ Martin Ratio Rank: 30

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. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Ultra Option Income Strategy ETF (ULTY) and Vanguard Real Estate ETF (VNQ). 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	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	0.20	0.79	-0.59
Sortino ratio: Return per unit of downside risk	0.40	1.15	-0.76
Omega ratio: Gain probability vs. loss probability	1.05	1.14	-0.09
Calmar ratio: Return relative to maximum drawdown	0.17	1.26	-1.09
Martin ratio: Return relative to average drawdown	0.34	3.96	-3.62
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. VNQ - Sharpe Ratio Comparison

The current ULTY Sharpe Ratio is 0.20, which is lower than the VNQ Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of ULTY and VNQ, 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	VNQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	0.79	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.11	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.26	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.27	-0.15

Drawdowns

ULTY vs. VNQ - Drawdown Comparison

The maximum ULTY drawdown since its inception was -26.85%, smaller than the maximum VNQ drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for ULTY and VNQ.

Drawdown Indicators

	ULTY	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-26.85%	-73.07%	+46.22%
Max Drawdown (1Y) Largest decline over 1 year	-24.16%	-8.34%	-15.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.40%	—
Current Drawdown Current decline from peak	-11.95%	-2.67%	-9.28%
Average Drawdown Average peak-to-trough decline	-9.38%	-13.62%	+4.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.37%	2.65%	+9.72%

Volatility

ULTY vs. VNQ - Volatility Comparison

YieldMax Ultra Option Income Strategy ETF (ULTY) has a higher volatility of 6.96% compared to Vanguard Real Estate ETF (VNQ) at 4.13%. This indicates that ULTY's price experiences larger fluctuations and is considered to be riskier than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ULTY	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	4.13%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	15.88%	9.53%	+6.35%
Volatility (1Y) Calculated over the trailing 1-year period	21.21%	13.38%	+7.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.07%	18.82%	+8.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.07%	20.71%	+6.36%

ULTY vs. VNQ - Expense Ratio Comparison

ULTY has a 1.14% expense ratio, which is higher than VNQ's 0.13% expense ratio.

Dividends

ULTY vs. VNQ - Dividend Comparison

ULTY's dividend yield for the trailing twelve months is around 115.53%, more than VNQ's 3.65% 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%
VNQ Vanguard Real Estate ETF	3.65%	3.92%	3.85%	3.95%	3.91%	2.56%	3.93%	3.39%	4.74%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both ULTY and VNQ in my portfolio?

ULTY and VNQ have a correlation of 0.19, 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 VNQ?

ULTY has higher volatility (6.96%) compared to VNQ (4.13%). In terms of maximum drawdown, ULTY dropped -26.85% vs VNQ's -73.07%.

Which ETF is better, ULTY or VNQ?

On 1-year performance, VNQ leads with 10.45% vs 4.18% for ULTY. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ULTY or VNQ?

Over the 1-year period, VNQ has performed better with a 10.45% 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 VNQ?

VNQ is cheaper with a 0.13% expense ratio, compared with 1.14% for ULTY.

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

ULTY has the higher dividend yield at 115.53%, compared with 3.65% for VNQ.

What is the main difference between ULTY and VNQ?

ULTY is categorized as Derivative Income, while VNQ is REIT. They also come from different issuers: YieldMax and Vanguard. Their fees differ too: 1.14% for ULTY and 0.13% for VNQ.

Which has better risk-adjusted returns?

VNQ currently has the higher Sharpe Ratio (0.79 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.