USDX vs. TSMY

Last updated Jun 23, 2026

USDX (SGI Enhanced Core ETF) and TSMY (YieldMax TSM Option Income Strategy ETF) are both exchange-traded funds - USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments, while TSMY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, USDX returned 6.47% vs 94.14% for TSMY. At a correlation of -0.05, they often move in opposite directions. USDX charges 0.98%/yr vs 0.99%/yr for TSMY.

Performance

USDX vs. TSMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Core ETF (USDX) and YieldMax TSM Option Income Strategy ETF (TSMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USDX achieves a 2.50% return, which is significantly lower than TSMY's 44.41% return.

USDX

• 1D: 0.31%
• 1M: 0.27%
• YTD: 2.50%
• 6M: 2.69%
• 1Y: 6.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSMY

• 1D: 0.91%
• 1M: 12.57%
• YTD: 44.41%
• 6M: 48.65%
• 1Y: 94.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

USDX vs. TSMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
USDX SGI Enhanced Core ETF	2.50%	6.25%	3.09%
TSMY YieldMax TSM Option Income Strategy ETF	44.41%	41.00%	8.05%

Correlation

The correlation between USDX and TSMY is -0.14, 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 (1Y) Calculated over the trailing 1-year period	-0.14
Correlation (All Time) Calculated using the full available price history since Aug 21, 2024	-0.05

Return for Risk

USDX vs. TSMY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USDX

USDX Risk / Return Rank: 95
USDX Sharpe Ratio Rank: 93
USDX Sortino Ratio Rank: 95
USDX Omega Ratio Rank: 96
USDX Calmar Ratio Rank: 94
USDX Martin Ratio Rank: 97

TSMY

TSMY Risk / Return Rank: 90
TSMY Sharpe Ratio Rank: 92
TSMY Sortino Ratio Rank: 86
TSMY Omega Ratio Rank: 84
TSMY Calmar Ratio Rank: 93
TSMY Martin Ratio Rank: 92

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.

USDX vs. TSMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Core ETF (USDX) and YieldMax TSM Option Income Strategy ETF (TSMY). 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.

	USDX	TSMY	Difference
Sharpe ratio: Return per unit of total volatility	3.14	3.10	+0.04
Sortino ratio: Return per unit of downside risk	4.98	3.69	+1.29
Omega ratio: Gain probability vs. loss probability	1.77	1.49	+0.29
Calmar ratio: Return relative to maximum drawdown	6.93	6.11	+0.82
Martin ratio: Return relative to average drawdown	44.32	22.22	+22.10

USDX vs. TSMY - Sharpe Ratio Comparison

The current USDX Sharpe Ratio is 3.14, which is comparable to the TSMY Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of USDX and TSMY, 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

USDX vs. TSMY - Drawdown Comparison

The maximum USDX drawdown since its inception was -0.94%, smaller than the maximum TSMY drawdown of -31.15%. Use the drawdown chart below to compare losses from any high point for USDX and TSMY.

Drawdown Indicators

	USDX	TSMY	Difference
Max Drawdown Largest peak-to-trough decline	-0.94%	-31.15%	+30.21%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-15.50%	+14.56%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.06%	-5.44%	+5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	4.25%	-4.10%

Volatility

USDX vs. TSMY - Volatility Comparison

The current volatility for SGI Enhanced Core ETF (USDX) is 1.12%, while YieldMax TSM Option Income Strategy ETF (TSMY) has a volatility of 11.89%. This indicates that USDX experiences smaller price fluctuations and is considered to be less risky than TSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USDX	TSMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	11.89%	-10.77%
Volatility (6M) Calculated over the trailing 6-month period	1.90%	24.23%	-22.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.07%	30.58%	-28.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.74%	33.68%	-31.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.74%	33.68%	-31.94%

USDX vs. TSMY - Expense Ratio Comparison

USDX has a 0.98% expense ratio, which is lower than TSMY's 0.99% expense ratio.

Dividends

USDX vs. TSMY - Dividend Comparison

USDX's dividend yield for the trailing twelve months is around 5.86%, less than TSMY's 48.02% yield.

Position	TTM	2025	2024
TSMY YieldMax TSM Option Income Strategy ETF	48.02%	56.76%	13.71%
USDX SGI Enhanced Core ETF	5.86%	5.88%	4.60%

Frequently Asked Questions

Can I hold both USDX and TSMY in my portfolio?

USDX and TSMY have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USDX or TSMY?

TSMY has higher volatility (11.89%) compared to USDX (1.12%). In terms of maximum drawdown, USDX dropped -0.94% vs TSMY's -31.15%.

Which ETF is better, USDX or TSMY?

On 1-year performance, TSMY leads with 94.14% vs 6.47% for USDX. On fees, USDX is cheaper at 0.98% per year. On volatility, USDX has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USDX or TSMY?

Over the 1-year period, TSMY has performed better with a 94.14% return vs 6.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USDX or TSMY?

USDX is cheaper with a 0.98% expense ratio, compared with 0.99% for TSMY.

Which ETF pays a higher dividend yield, USDX or TSMY?

TSMY has the higher dividend yield at 48.02%, compared with 5.86% for USDX.

What is the main difference between USDX and TSMY?

USDX is categorized as Intermediate Core Bond, while TSMY is Derivative Income. They also come from different issuers: Summit Global Investments and YieldMax. Their fees differ too: 0.98% for USDX and 0.99% for TSMY.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.14 vs 3.10), 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.