FIAT vs PSEP
YieldMax Short COIN Option Income Strategy ETF vs Innovator U.S. Equity Power Buffer ETF - September
Which is better, FIAT or PSEP?
Opposite sides of the same exposure.
PSEP has a lower expense ratio. FIAT led over 1Y, PSEP over the full window. The two move opposite each other, correlation -0.54, so holding both offsets the exposure while paying both fees.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FIAT | PSEP |
|---|---|---|
| Expense Ratio | 1.05% | 0.79%Best |
| AUM | $30M | $1.2B |
| Dividend Yield | 122.18% | 0.00% |
| Holdings | 15 | 12 |
| YTD Return | +4.11% | +7.66%Best |
| 1Y Return | +35.51%Best | +10.18% |
| 3Y Return (annualized) | - | +12.76% |
| 5Y Return (annualized) | - | +9.76% |
| Volatility (annualized) | 55.0% | 5.6%Best |
| Max Drawdown | -70.5% | -9.9%Best |
| $10,000 over 2.3 years | $5,438 | $12,555Best |
| Fund Family | YieldMax ETF | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | Jul 9, 2024 | Aug 30, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.3 years row, are measured over the window both funds cover: Jul 10, 2024 to Oct 14, 2026 (2.3 years).
FIAT vs PSEP growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.3 years both funds cover.
FIAT vs PSEP Performance
YieldMax Short COIN Option Income Strategy ETF (FIAT) is an ETF from YieldMax ETF and Innovator U.S. Equity Power Buffer ETF - September (PSEP) is an ETF from Innovator ETFs Trust. Over the past year FIAT returned +35.51% while PSEP returned +10.18%. Year to date, FIAT is up 4.11% versus a gain of 7.66% for PSEP.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FIAT has been the more volatile fund, with annualized monthly volatility of 55.0% compared with 5.6% for PSEP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -70.5% for FIAT and -9.9% for PSEP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.54. They move opposite each other. Holding both offsets the exposure rather than spreading it, while paying both funds' fees.
Fees and Cost Over Time
FIAT charges 1.05% per year while PSEP charges 0.79%. On a $10,000 position that is $105 vs $79 annually, a gap of $26 per year that compounds over a long holding period. On income, FIAT currently yields 122.18% against 0.00% for PSEP.
Holdings Overlap
We hold position weights for 2 holdings in FIAT and 494 in PSEP, totalling 18.2% and 98.1% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 2 positions we hold weights for in FIAT and 494 in PSEP, against full books of 15 and 12.
You are not choosing between two funds in isolation.
Whichever of FIAT and PSEP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FIAT or PSEP?
FIAT has an expense ratio of 1.05% while PSEP charges 0.79%. PSEP is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, FIAT or PSEP?
Over the past year FIAT returned +35.51% vs +10.18% for PSEP, so FIAT leads on 1-year performance. Over the longest common window we track (2 years), FIAT annualized -23.27% vs +10.40% for PSEP. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FIAT or PSEP?
FIAT has been the more volatile fund at 55.0% annualized versus 5.6% for PSEP. Worst drawdown: FIAT -70.5% vs PSEP -9.9%.
Should I hold both FIAT and PSEP?
FIAT and PSEP have a monthly-return correlation of -0.54, so they move opposite each other. Holding both offsets the exposure rather than spreading it, and pays both funds' fees on the way. This is information, not a recommendation.
Which pays a higher dividend, FIAT or PSEP?
FIAT yields 122.18% while PSEP yields 0.00%, so FIAT currently pays the higher dividend yield.
Is PSEP better than FIAT?
PSEP has a lower expense ratio. FIAT led over 1Y, PSEP over the full window. The two move opposite each other, correlation -0.54, so holding both offsets the exposure while paying both fees. Which one suits a particular account depends on what it is for. This is information, not a recommendation.