ZIVB vs. FIAT

Last updated Jun 4, 2026

ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) and FIAT (YieldMax Short COIN Option Income Strategy ETF) are both exchange-traded funds - ZIVB is a Inverse Equities fund actively managed by Volatility Shares, while FIAT is a Derivative Income fund actively managed by YieldMax. Both are actively managed. ZIVB charges 1.35%/yr vs 0.99%/yr for FIAT.

Performance

ZIVB vs. FIAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB) and YieldMax Short COIN Option Income Strategy ETF (FIAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ZIVB

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FIAT

• 1D: 4.32%
• 1M: 16.99%
• YTD: 13.84%
• 6M: 33.71%
• 1Y: -0.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZIVB vs. FIAT - Yearly Performance Comparison

	2026 (YTD)
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%
FIAT YieldMax Short COIN Option Income Strategy ETF	8.47%

Return for Risk

ZIVB vs. FIAT — Risk / Return Rank

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

FIAT

FIAT Risk / Return Rank: 10
FIAT Sharpe Ratio Rank: 8
FIAT Sortino Ratio Rank: 11
FIAT Omega Ratio Rank: 11
FIAT Calmar Ratio Rank: 9
FIAT Martin Ratio Rank: 9

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.

ZIVB vs. FIAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for -1x Short VIX Mid-Term Futures Strategy ETF (ZIVB) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ZIVB	FIAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.37	—

Drawdowns

ZIVB vs. FIAT - Drawdown Comparison

The maximum ZIVB drawdown since its inception was 0.00%, smaller than the maximum FIAT drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for ZIVB and FIAT.

Drawdown Indicators

	ZIVB	FIAT	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-70.50%	+70.50%
Max Drawdown (1Y) Largest decline over 1 year	—	-42.26%	—
Current Drawdown Current decline from peak	0.00%	-50.94%	+50.94%
Average Drawdown Average peak-to-trough decline	0.00%	-45.35%	+45.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	27.32%	—

Volatility

Volatility by Period

	ZIVB	FIAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	15.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	42.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	55.49%	-55.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	60.56%	-60.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	60.56%	-60.56%

ZIVB vs. FIAT - Expense Ratio Comparison

ZIVB has a 1.35% expense ratio, which is higher than FIAT's 0.99% expense ratio.

Dividends

ZIVB vs. FIAT - Dividend Comparison

ZIVB has not paid dividends to shareholders, while FIAT's dividend yield for the trailing twelve months is around 93.28%.

Position	TTM	2025	2024
FIAT YieldMax Short COIN Option Income Strategy ETF	93.28%	178.11%	70.99%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ZIVB or FIAT?

On fees, FIAT is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZIVB or FIAT?

FIAT is cheaper with a 0.99% expense ratio, compared with 1.35% for ZIVB.

Which ETF pays a higher dividend yield, ZIVB or FIAT?

FIAT has the higher dividend yield at 93.28%, compared with 0.00% for ZIVB.

What is the main difference between ZIVB and FIAT?

ZIVB is categorized as Inverse Equities, while FIAT is Derivative Income. They also come from different issuers: Volatility Shares and YieldMax. Their fees differ too: 1.35% for ZIVB and 0.99% for FIAT.