ZIVB vs. YMAX

Last updated Jun 3, 2026

ZIVB (-1x Short VIX Mid-Term Futures Strategy ETF) and YMAX (YieldMax Universe Fund of Option Income ETFs) are both exchange-traded funds - ZIVB is a Inverse Equities fund actively managed by Volatility Shares, while YMAX is a Large Cap Blend Equities fund actively managed by YieldMax. Both are actively managed. ZIVB charges 1.35%/yr vs 1.28%/yr for YMAX.

Performance

ZIVB vs. YMAX - 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 Universe Fund of Option Income ETFs (YMAX). 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*: —

YMAX

• 1D: -0.68%
• 1M: 8.60%
• YTD: 7.89%
• 6M: 6.51%
• 1Y: 12.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZIVB vs. YMAX - Yearly Performance Comparison

	2026 (YTD)
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%
YMAX YieldMax Universe Fund of Option Income ETFs	1.04%

Return for Risk

ZIVB vs. YMAX — Risk / Return Rank

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

YMAX

YMAX Risk / Return Rank: 16
YMAX Sharpe Ratio Rank: 18
YMAX Sortino Ratio Rank: 17
YMAX Omega Ratio Rank: 18
YMAX Calmar Ratio Rank: 14
YMAX Martin Ratio Rank: 14

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. YMAX - 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 Universe Fund of Option Income ETFs (YMAX). 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	YMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.73	—

Drawdowns

ZIVB vs. YMAX - Drawdown Comparison

The maximum ZIVB drawdown since its inception was 0.00%, smaller than the maximum YMAX drawdown of -26.13%. Use the drawdown chart below to compare losses from any high point for ZIVB and YMAX.

Drawdown Indicators

	ZIVB	YMAX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-26.13%	+26.13%
Max Drawdown (1Y) Largest decline over 1 year	—	-26.13%	—
Current Drawdown Current decline from peak	0.00%	-4.35%	+4.35%
Average Drawdown Average peak-to-trough decline	0.00%	-6.33%	+6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.99%	—

Volatility

Volatility by Period

	ZIVB	YMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.03%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	21.56%	-21.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	22.96%	-22.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	22.96%	-22.96%

ZIVB vs. YMAX - Expense Ratio Comparison

ZIVB has a 1.35% expense ratio, which is higher than YMAX's 1.28% expense ratio.

Dividends

ZIVB vs. YMAX - Dividend Comparison

ZIVB has not paid dividends to shareholders, while YMAX's dividend yield for the trailing twelve months is around 69.87%.

Position	TTM	2025	2024
YMAX YieldMax Universe Fund of Option Income ETFs	69.87%	78.70%	44.20%
ZIVB -1x Short VIX Mid-Term Futures Strategy ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, ZIVB or YMAX?

On fees, YMAX is cheaper at 1.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZIVB or YMAX?

YMAX is cheaper with a 1.28% expense ratio, compared with 1.35% for ZIVB.

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

YMAX has the higher dividend yield at 69.87%, compared with 0.00% for ZIVB.

What is the main difference between ZIVB and YMAX?

ZIVB is categorized as Inverse Equities, while YMAX is Large Cap Blend Equities. They also come from different issuers: Volatility Shares and YieldMax. Their fees differ too: 1.35% for ZIVB and 1.28% for YMAX.