XOMO vs. HYGW

Last updated Aug 2, 2026

XOMO (YieldMax XOM Option Income Strategy ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both Derivative Income funds. XOMO is actively managed, while HYGW is passively managed. Over the past year, XOMO returned 29.93% vs 5.90% for HYGW. Their -0.05 correlation means they have often moved in opposite directions in the past. XOMO charges 1.01%/yr vs 0.69%/yr for HYGW.

Performance

XOMO vs. HYGW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax XOM Option Income Strategy ETF (XOMO) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XOMO achieves a 20.26% return, which is significantly higher than HYGW's 2.36% return.

XOMO

• 1D: -1.31%
• 1M: 10.95%
• 6M: 6.18%
• YTD: 20.26%
• 1Y: 29.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.86%

HYGW

• 1D: 0.14%
• 1M: 0.03%
• 6M: 1.81%
• YTD: 2.36%
• 1Y: 5.90%
• 3Y*: 5.30%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	$480.97K	$636.40K	$814.79K
XOMO YieldMax XOM Option Income Strategy ETF	$613.93K	$674.71K	$709.58K

XOMO vs. HYGW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XOMO YieldMax XOM Option Income Strategy ETF	20.26%	6.90%	6.11%	-8.59%
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	2.36%	6.19%	6.99%	0.59%

Correlation

The correlation between XOMO and HYGW is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (All Time) Calculated using the full available price history since Aug 31, 2023	-0.05

The correlation between XOMO and HYGW shifts across timeframes, from -0.23 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

XOMO vs. HYGW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XOMO

XOMO Risk / Return Rank: 51
XOMO Sharpe Ratio Rank: 58
XOMO Sortino Ratio Rank: 53
XOMO Omega Ratio Rank: 56
XOMO Calmar Ratio Rank: 46
XOMO Martin Ratio Rank: 40

HYGW

HYGW Risk / Return Rank: 88
HYGW Sharpe Ratio Rank: 86
HYGW Sortino Ratio Rank: 87
HYGW Omega Ratio Rank: 90
HYGW Calmar Ratio Rank: 85
HYGW Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XOMO vs. HYGW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax XOM Option Income Strategy ETF (XOMO) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.

	XOMO	HYGW	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.03	-0.66
Sortino ratio: Return per unit of downside risk	1.87	2.95	-1.07
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	1.64	3.26	-1.62
Martin ratio: Return relative to average drawdown	4.12	14.57	-10.44

XOMO vs. HYGW - Sharpe Ratio Comparison

The current XOMO Sharpe Ratio is 1.37, which is lower than the HYGW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of XOMO and HYGW, 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

XOMO vs. HYGW - Drawdown Comparison

The maximum XOMO drawdown since its inception was -18.90%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for XOMO and HYGW.

Drawdown Indicators

	XOMO	HYGW	Difference
Max Drawdown Largest peak-to-trough decline	-18.90%	-5.49%	-13.41%
Max Drawdown (1Y) Largest decline over 1 year	-17.25%	-1.82%	-15.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.42%	—
Current Drawdown Current decline from peak	-7.57%	-0.21%	-7.36%
Average Drawdown Average peak-to-trough decline	-7.50%	-0.59%	-6.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	0.41%	+6.49%

Volatility

XOMO vs. HYGW - Volatility Comparison

YieldMax XOM Option Income Strategy ETF (XOMO) has a higher volatility of 6.19% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.80%. This indicates that XOMO's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XOMO	HYGW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	0.80%	+5.39%
Volatility (6M) Calculated over the trailing 6-month period	17.25%	2.32%	+14.93%
Volatility (1Y) Calculated over the trailing 1-year period	20.68%	2.92%	+17.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.20%	4.62%	+14.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.20%	4.62%	+14.58%

XOMO vs. HYGW - Expense Ratio Comparison

XOMO has a 1.01% expense ratio, which is higher than HYGW's 0.69% expense ratio.

Dividends

XOMO vs. HYGW - Dividend Comparison

XOMO's dividend yield for the trailing twelve months is around 37.04%, more than HYGW's 10.71% yield.

Position	TTM	2025	2024	2023	2022
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF	10.71%	12.53%	12.30%	15.98%	8.71%
XOMO YieldMax XOM Option Income Strategy ETF	37.04%	31.64%	26.94%	5.13%	0.00%

Frequently Asked Questions

Can I hold both XOMO and HYGW in my portfolio?

XOMO and HYGW have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XOMO or HYGW?

XOMO has higher volatility (6.19%) compared to HYGW (0.80%). In terms of maximum drawdown, XOMO dropped -18.90% vs HYGW's -5.49%.

Which ETF is better, XOMO or HYGW?

On 1-year performance, XOMO leads with 29.93% vs 5.90% for HYGW. On fees, HYGW is cheaper at 0.69% per year. On volatility, HYGW has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XOMO or HYGW?

Over the 1-year period, XOMO has performed better with a 29.93% return vs 5.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XOMO or HYGW?

HYGW is cheaper with a 0.69% expense ratio, compared with 1.01% for XOMO.

Which ETF pays a higher dividend yield, XOMO or HYGW?

XOMO has the higher dividend yield at 37.04%, compared with 10.71% for HYGW.

What is the main difference between XOMO and HYGW?

They also come from different issuers: YieldMax and iShares. Their fees differ too: 1.01% for XOMO and 0.69% for HYGW.

Which has better risk-adjusted returns?

HYGW currently has the higher Sharpe Ratio (2.03 vs 1.37), 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.