YieldMax Short NVDA Option Income Strategy ETF (DIPS) Performance
DIPS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −11.5% since Dec 31, 2025
- 1 year
- −13.2% total return
- Since first price
- −53.4% since 2024
DIPS trailing returns vs SPY, QQQ, AGG
| Period | DIPS total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +4.6% | +1.2% | −1.0% | −5.0% | +0.9% |
| 3 months | −5.5% | −13.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −8.0% | −24.5% | +7.8% | +8.4% | −1.5% |
| YTD | −11.5% | −36.8% | +12.3% | +15.1% | −1.0% |
| 1 year | −13.2% | −44.5% | +14.4% | +15.9% | −1.1% |
| Since inceptionJul 24, 2024 | −53.4% | −84.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DIPS vs SPY
From Jul 24, 2024: DIPS grew to $4,661, SPY to $14,410.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DIPS returns by calendar year
0 of 1 full years positive. Best 2025 (−31.4%), worst 2025 (−31.4%). 2026 is year to date.
DIPS annual returns table
| Year | DIPS | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −11.5% | −28.0% | +12.3% | +15.1% | −1.0% |
| 2025 | −31.4% | −50.0% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DIPS largest drawdowns
Now 57.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 7, 2024 | −60.9% | Oct 6, 2026 | not yet | 2.2 years | 2.2 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DIPS risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | −31.6% |
| Volatility (annualized) | 25.7% |
| Sharpe ratio | -1.48 |
| Sortino ratio | -1.59 |
| Best month | +14.8% |
| Worst month | −19.8% |
| Best 12 months | −6.4% |
| Worst 12 months | −46.3% |
| Positive months | 35% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DIPS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 16 | −46.3% | −30.7% | −2.7% | 0% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
DIPS performance overview
YieldMax Short NVDA Option Income Strategy ETF (DIPS) returned −13.2% over the past year, with distributions reinvested. Since its first recorded price on Jul 24, 2024 it has returned −53.4%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.9%, from Aug 7, 2024 to Oct 6, 2026; the fund has not yet regained that high. Volatility has been 25.7% a year.
Related: DIPS chart, DIPS dividends. See the DIPS overview for the latest quote and fund facts.
DIPS performance FAQ
What is the DIPS return over the past year?
DIPS returned −13.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 44.5%.
How much would $10,000 invested in DIPS be worth?
$10,000 invested in DIPS at its first recorded close on July 24, 2024 would be worth about $4,661 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of DIPS?
The largest peak-to-trough decline was −60.9% between August 7, 2024 and October 6, 2026. It has not yet recovered to that high; it is 57.2% below its peak.
How volatile is DIPS?
Over the past history DIPS had an annualized volatility of 25.7% and a Sharpe ratio of -1.48 (excess return over 1–3 month T-bills per unit of risk).