YBTC vs. SDTY

Last updated Jul 21, 2026

YBTC (Roundhill Bitcoin Covered Call Strategy ETF) and SDTY (YieldMax S&P 500 0DTE Covered Call Strategy ETF) are both exchange-traded funds - YBTC is a Cryptocurrency fund actively managed by Roundhill, while SDTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, YBTC returned -40.78% vs 17.90% for SDTY. At a 0.45 correlation, their price movements are largely independent. YBTC charges 0.95%/yr vs 1.01%/yr for SDTY.

Performance

YBTC vs. SDTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Bitcoin Covered Call Strategy ETF (YBTC) and YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YBTC achieves a -22.14% return, which is significantly lower than SDTY's 7.95% return.

YBTC

• 1D: 0.90%
• 1M: 4.64%
• 6M: -28.05%
• YTD: -22.14%
• 1Y: -40.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.04%

SDTY

• 1D: -0.05%
• 1M: 0.07%
• 6M: 6.33%
• YTD: 7.95%
• 1Y: 17.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.36%

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

YBTC vs. SDTY - Yearly Performance Comparison

	2026 (YTD)	2025
YBTC Roundhill Bitcoin Covered Call Strategy ETF	-22.14%	-8.63%
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	7.95%	9.67%

Correlation

The correlation between YBTC and SDTY is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since Feb 6, 2025	0.45

Return for Risk

YBTC vs. SDTY — Risk / Return Rank

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

YBTC

YBTC Risk / Return Rank: 2
YBTC Sharpe Ratio Rank: 2
YBTC Sortino Ratio Rank: 2
YBTC Omega Ratio Rank: 2
YBTC Calmar Ratio Rank: 2
YBTC Martin Ratio Rank: 2

SDTY

SDTY Risk / Return Rank: 63
SDTY Sharpe Ratio Rank: 62
SDTY Sortino Ratio Rank: 60
SDTY Omega Ratio Rank: 62
SDTY Calmar Ratio Rank: 60
SDTY Martin Ratio Rank: 68

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.

YBTC vs. SDTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Bitcoin Covered Call Strategy ETF (YBTC) and YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY). 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.

	YBTC	SDTY	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	1.54	-2.56
Sortino ratio: Return per unit of downside risk	-1.44	2.14	-3.58
Omega ratio: Gain probability vs. loss probability	0.82	1.28	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.84	2.24	-3.08
Martin ratio: Return relative to average drawdown	-1.35	8.97	-10.32

YBTC vs. SDTY - Sharpe Ratio Comparison

The current YBTC Sharpe Ratio is -1.02, which is lower than the SDTY Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of YBTC and SDTY, 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

YBTC vs. SDTY - Drawdown Comparison

The maximum YBTC drawdown since its inception was -48.84%, which is greater than SDTY's maximum drawdown of -18.63%. Use the drawdown chart below to compare losses from any high point for YBTC and SDTY.

Drawdown Indicators

	YBTC	SDTY	Difference
Max Drawdown Largest peak-to-trough decline	-48.84%	-18.63%	-30.21%
Max Drawdown (1Y) Largest decline over 1 year	-48.84%	-8.02%	-40.82%
Current Drawdown Current decline from peak	-43.14%	-1.25%	-41.89%
Average Drawdown Average peak-to-trough decline	-14.50%	-2.89%	-11.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.27%	2.00%	+28.27%

Volatility

YBTC vs. SDTY - Volatility Comparison

Roundhill Bitcoin Covered Call Strategy ETF (YBTC) has a higher volatility of 9.15% compared to YieldMax S&P 500 0DTE Covered Call Strategy ETF (SDTY) at 3.00%. This indicates that YBTC's price experiences larger fluctuations and is considered to be riskier than SDTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YBTC	SDTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.15%	3.00%	+6.15%
Volatility (6M) Calculated over the trailing 6-month period	32.48%	9.23%	+23.25%
Volatility (1Y) Calculated over the trailing 1-year period	40.18%	11.69%	+28.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.65%	16.51%	+24.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.65%	16.51%	+24.14%

YBTC vs. SDTY - Expense Ratio Comparison

YBTC has a 0.95% expense ratio, which is lower than SDTY's 1.01% expense ratio.

Dividends

YBTC vs. SDTY - Dividend Comparison

YBTC's dividend yield for the trailing twelve months is around 82.41%, more than SDTY's 26.94% yield.

Position	TTM	2025	2024
SDTY YieldMax S&P 500 0DTE Covered Call Strategy ETF	26.94%	22.00%	0.00%
YBTC Roundhill Bitcoin Covered Call Strategy ETF	82.41%	76.04%	44.53%

Frequently Asked Questions

Can I hold both YBTC and SDTY in my portfolio?

YBTC and SDTY have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YBTC or SDTY?

YBTC has higher volatility (9.15%) compared to SDTY (3.00%). In terms of maximum drawdown, YBTC dropped -48.84% vs SDTY's -18.63%.

Which ETF is better, YBTC or SDTY?

On 1-year performance, SDTY leads with 17.90% vs -40.78% for YBTC. On fees, YBTC is cheaper at 0.95% per year. On volatility, SDTY has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YBTC or SDTY?

Over the 1-year period, SDTY has performed better with a 17.90% return vs -40.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YBTC or SDTY?

YBTC is cheaper with a 0.95% expense ratio, compared with 1.01% for SDTY.

Which ETF pays a higher dividend yield, YBTC or SDTY?

YBTC has the higher dividend yield at 82.41%, compared with 26.94% for SDTY.

What is the main difference between YBTC and SDTY?

YBTC is categorized as Cryptocurrency, while SDTY is Derivative Income. They also come from different issuers: Roundhill and YieldMax. Their fees differ too: 0.95% for YBTC and 1.01% for SDTY.

Which has better risk-adjusted returns?

SDTY currently has the higher Sharpe Ratio (1.54 vs -1.02), 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.