YBMN vs. FIAT
YBMN (Defiance BMNR Option Income ETF) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. At a correlation of -0.78, they often move in opposite directions. YBMN charges 0.85%/yr vs 0.99%/yr for FIAT.
Performance
YBMN vs. FIAT - Performance Comparison
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Returns By Period
In the year-to-date period, YBMN achieves a -31.09% return, which is significantly lower than FIAT's 13.14% return.
YBMN
- 1D
- -1.45%
- 1M
- -2.41%
- 6M
- -40.29%
- YTD
- -31.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT
- 1D
- 3.25%
- 1M
- 2.71%
- 6M
- 17.49%
- YTD
- 13.14%
- 1Y
- 58.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
YBMN vs. FIAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
YBMN Defiance BMNR Option Income ETF | -31.09% | -6.74% |
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.14% | 7.50% |
Correlation
The correlation between YBMN and FIAT is -0.78, 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 (All Time) Calculated using the full available price history since Nov 25, 2025 | -0.78 |
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Return for Risk
YBMN vs. FIAT — Risk / Return Rank
YBMN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FIAT
YBMN vs. FIAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance BMNR Option Income ETF (YBMN) and YieldMax Short COIN Option Income Strategy ETF (FIAT). 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.
| YBMN | FIAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.72 | — |
| Martin ratioReturn relative to average drawdown | — | 3.68 | — |
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Drawdowns
YBMN vs. FIAT - Drawdown Comparison
The maximum YBMN drawdown since its inception was -57.03%, smaller than the maximum FIAT drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for YBMN and FIAT.
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Drawdown Indicators
| YBMN | FIAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.03% | -70.50% | +13.47% |
Max Drawdown (1Y)Largest decline over 1 year | — | -34.22% | — |
Current DrawdownCurrent decline from peak | -49.68% | -51.24% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -34.44% | -45.56% | +11.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 16.00% | — |
Volatility
YBMN vs. FIAT - Volatility Comparison
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Volatility by Period
| YBMN | FIAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 13.83% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 43.70% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 78.73% | 52.71% | +26.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.73% | 59.95% | +18.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.73% | 59.95% | +18.78% |
YBMN vs. FIAT - Expense Ratio Comparison
YBMN has a 0.85% expense ratio, which is lower than FIAT's 0.99% expense ratio.
Dividends
YBMN vs. FIAT - Dividend Comparison
YBMN's dividend yield for the trailing twelve months is around 58.27%, less than FIAT's 108.57% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 108.57% | 178.11% | 70.99% |
YBMN Defiance BMNR Option Income ETF | 58.27% | 6.80% | 0.00% |
Frequently Asked Questions
YBMN and FIAT have a correlation of -0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, YBMN is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.
YBMN is cheaper with a 0.85% expense ratio, compared with 0.99% for FIAT.
FIAT has the higher dividend yield at 108.57%, compared with 58.27% for YBMN.
They also come from different issuers: Defiance and YieldMax. Their fees differ too: 0.85% for YBMN and 0.99% for FIAT.
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