VBR vs. ULTY

Last updated Jun 13, 2026

VBR (Vanguard Small-Cap Value ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both exchange-traded funds - VBR is a Small Cap Value Equities fund tracking the CRSP US Small Cap Value Index, while ULTY is a Derivative Income fund actively managed by YieldMax. VBR is passively managed, while ULTY is actively managed. Over the past year, VBR returned 27.94% vs 3.61% for ULTY. A 0.59 correlation means they provide meaningful diversification when combined. VBR charges 0.05%/yr vs 1.14%/yr for ULTY.

Performance

VBR vs. ULTY - Performance Comparison

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

Returns By Period

In the year-to-date period, VBR achieves a 14.60% return, which is significantly higher than ULTY's 8.80% return.

VBR

• 1D: 0.87%
• 1M: 4.91%
• YTD: 14.60%
• 6M: 12.92%
• 1Y: 27.94%
• 3Y*: 16.09%
• 5Y*: 8.36%
• 10Y*: 10.99%

ULTY

• 1D: 1.04%
• 1M: -0.81%
• YTD: 8.80%
• 6M: 8.04%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VBR vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VBR Vanguard Small-Cap Value ETF	14.60%	9.09%	11.41%
ULTY YieldMax Ultra Option Income Strategy ETF	8.80%	-0.84%	-4.73%

Correlation

The correlation between VBR and ULTY is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Feb 29, 2024	0.59

The correlation between VBR and ULTY has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.

VBR vs. ULTY - Sectors Allocation Comparison

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

Return for Risk

VBR vs. ULTY — Risk / Return Rank

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

VBR

VBR Risk / Return Rank: 67
VBR Sharpe Ratio Rank: 64
VBR Sortino Ratio Rank: 68
VBR Omega Ratio Rank: 59
VBR Calmar Ratio Rank: 72
VBR Martin Ratio Rank: 70

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

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.

VBR vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value ETF (VBR) and YieldMax Ultra Option Income Strategy ETF (ULTY). 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.

	VBR	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	1.83	0.17	+1.66
Sortino ratio: Return per unit of downside risk	2.67	0.36	+2.31
Omega ratio: Gain probability vs. loss probability	1.31	1.05	+0.27
Calmar ratio: Return relative to maximum drawdown	3.17	0.15	+3.02
Martin ratio: Return relative to average drawdown	11.22	0.29	+10.93

VBR vs. ULTY - Sharpe Ratio Comparison

The current VBR Sharpe Ratio is 1.83, which is higher than the ULTY Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of VBR and ULTY, 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

VBR vs. ULTY - Drawdown Comparison

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

Drawdown Indicators

	VBR	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-61.98%	-26.85%	-35.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-24.16%	+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	0.00%	-10.79%	+10.79%
Average Drawdown Average peak-to-trough decline	-8.26%	-9.90%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	12.47%	-9.97%

Volatility

VBR vs. ULTY - Volatility Comparison

The current volatility for Vanguard Small-Cap Value ETF (VBR) is 4.43%, while YieldMax Ultra Option Income Strategy ETF (ULTY) has a volatility of 8.04%. This indicates that VBR experiences smaller price fluctuations and is considered to be less risky than ULTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBR	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	8.04%	-3.61%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	16.40%	-5.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	21.55%	-6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.79%	27.32%	-7.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.74%	27.32%	-5.58%

VBR vs. ULTY - Expense Ratio Comparison

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

Dividends

VBR vs. ULTY - Dividend Comparison

VBR's dividend yield for the trailing twelve months is around 1.71%, less than ULTY's 113.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ULTY YieldMax Ultra Option Income Strategy ETF	113.38%	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	1.71%	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 VBR and ULTY in my portfolio?

VBR and ULTY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBR or ULTY?

ULTY has higher volatility (8.04%) compared to VBR (4.43%). In terms of maximum drawdown, VBR dropped -61.98% vs ULTY's -26.85%.

Which ETF is better, VBR or ULTY?

On 1-year performance, VBR leads with 27.94% vs 3.61% for ULTY. On fees, VBR is cheaper at 0.05% per year. On volatility, VBR has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VBR or ULTY?

Over the 1-year period, VBR has performed better with a 27.94% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VBR or ULTY?

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

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

ULTY has the higher dividend yield at 113.38%, compared with 1.71% for VBR.

What is the main difference between VBR and ULTY?

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

Which has better risk-adjusted returns?

VBR currently has the higher Sharpe Ratio (1.83 vs 0.17), 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.