VNQ vs. ULTY

Last updated Jun 13, 2026

VNQ (Vanguard Real Estate ETF) and ULTY (YieldMax Ultra Option Income Strategy ETF) are both exchange-traded funds - VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index, while ULTY is a Derivative Income fund actively managed by YieldMax. VNQ is passively managed, while ULTY is actively managed. Over the past year, VNQ returned 12.92% vs 3.61% for ULTY. At a 0.29 correlation, their price movements are largely independent. VNQ charges 0.13%/yr vs 1.14%/yr for ULTY.

Performance

VNQ vs. ULTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Real Estate ETF (VNQ) 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, VNQ achieves a 12.51% return, which is significantly higher than ULTY's 8.80% return.

VNQ

• 1D: 0.92%
• 1M: 2.73%
• YTD: 12.51%
• 6M: 12.32%
• 1Y: 12.92%
• 3Y*: 10.14%
• 5Y*: 2.55%
• 10Y*: 5.65%

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)

VNQ vs. ULTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
VNQ Vanguard Real Estate ETF	12.51%	3.24%	9.17%
ULTY YieldMax Ultra Option Income Strategy ETF	8.80%	-0.84%	-4.73%

Correlation

The correlation between VNQ and ULTY 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

VNQ vs. ULTY - Sectors Allocation Comparison

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

Return for Risk

VNQ vs. ULTY — Risk / Return Rank

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

VNQ

VNQ Risk / Return Rank: 32
VNQ Sharpe Ratio Rank: 30
VNQ Sortino Ratio Rank: 28
VNQ Omega Ratio Rank: 28
VNQ Calmar Ratio Rank: 35
VNQ Martin Ratio Rank: 36

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.

VNQ vs. ULTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate ETF (VNQ) 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.

	VNQ	ULTY	Difference
Sharpe ratio: Return per unit of total volatility	0.96	0.17	+0.79
Sortino ratio: Return per unit of downside risk	1.39	0.36	+1.03
Omega ratio: Gain probability vs. loss probability	1.17	1.05	+0.13
Calmar ratio: Return relative to maximum drawdown	1.56	0.15	+1.41
Martin ratio: Return relative to average drawdown	4.90	0.29	+4.61

VNQ vs. ULTY - Sharpe Ratio Comparison

The current VNQ Sharpe Ratio is 0.96, which is higher than the ULTY Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of VNQ 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

VNQ vs. ULTY - Drawdown Comparison

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

Drawdown Indicators

	VNQ	ULTY	Difference
Max Drawdown Largest peak-to-trough decline	-73.07%	-26.85%	-46.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-24.16%	+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	0.00%	-10.79%	+10.79%
Average Drawdown Average peak-to-trough decline	-13.61%	-9.90%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	12.47%	-9.82%

Volatility

VNQ vs. ULTY - Volatility Comparison

The current volatility for Vanguard Real Estate ETF (VNQ) is 4.72%, while YieldMax Ultra Option Income Strategy ETF (ULTY) has a volatility of 8.04%. This indicates that VNQ 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

	VNQ	ULTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	8.04%	-3.32%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	16.40%	-6.63%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	21.55%	-8.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.84%	27.32%	-8.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.72%	27.32%	-6.60%

VNQ vs. ULTY - Expense Ratio Comparison

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

Dividends

VNQ vs. ULTY - Dividend Comparison

VNQ's dividend yield for the trailing twelve months is around 3.54%, 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%
VNQ Vanguard Real Estate ETF	3.54%	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 VNQ and ULTY in my portfolio?

VNQ and ULTY 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, VNQ or ULTY?

ULTY has higher volatility (8.04%) compared to VNQ (4.72%). In terms of maximum drawdown, VNQ dropped -73.07% vs ULTY's -26.85%.

Which ETF is better, VNQ or ULTY?

On 1-year performance, VNQ leads with 12.92% vs 3.61% for ULTY. On fees, VNQ is cheaper at 0.13% per year. On volatility, VNQ has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VNQ or ULTY?

Over the 1-year period, VNQ has performed better with a 12.92% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VNQ or ULTY?

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

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

ULTY has the higher dividend yield at 113.38%, compared with 3.54% for VNQ.

What is the main difference between VNQ and ULTY?

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

Which has better risk-adjusted returns?

VNQ currently has the higher Sharpe Ratio (0.96 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.