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ETF Comparison

CHPY vs SOXY: Same Semi Idea, Two YieldMax Overlays

A head-to-head of YieldMax Semiconductor Portfolio Option Income and YieldMax Semiconductor Premium Income covering overlay and cash.

Updated October 8, 2026

How these figures are calculated: methodology.

Best for

  • CHPYInvestors who want to maximize current income — roughly 44.51%, generated by selling options premium.
  • SOXYInvestors who are comfortable trading away most upside for a large, steady payout.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

CHPY has lagged SOXY over the trailing twelve months, posting a 79.25% total return against 79.75%. Measured from Apr 2025 — the start of shared available history — SOXY has compounded at 100.26% a year versus 95.61% for CHPY. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulativeSince Apr 2025Volatility Sharpe Sortino Max drawdown
CHPY63.75%79.25%95.61%40.2%1.341.92-27.6%
SOXY67.38%79.75%100.26%42.1%1.291.86-28.6%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 9, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Apr 2025” measures every fund from April 3, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Distribution rate, SEC yield and return of capital

MetricCHPYSOXY
Forward distribution rate44.51%12.65%
Trailing 12-month yield41.12%10.00%
30-day SEC yield-0.38%-0.40%
Return of capital100.00%94.77%

Total return (price change plus reinvested distributions) is the Total returns section above. Return of capital is the share of a recent distribution that was not income. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricCHPYSOXY
Full nameYieldMax Semiconductor Portfolio Option Income ETFYieldMax Target 12™ Semiconductor Option Income ETF
IssuerYieldMaxYieldMax
Underlying indexBasket (Semiconductor companies)Basket (Semiconductor stocks)
Last Close$68.31 as of October 8, 2026$94.77 as of October 8, 2026
Distribution rate44.51%12.65%
Trailing 12-month yield41.12%10.00%
30-day SEC yield-0.38%-0.40%
Distribution Safety Score™ 7979
Safety-Adjusted Yield 35.16%9.99%
Expense ratio1.03%1.06%
AUM$1.35B$71.0M
Distribution frequencyWeeklyMonthly
ObjectiveSeeks weekly income by holding a portfolio of U.S.-listed semiconductor equities and generating premium through an options overlay written on those holdings and on semiconductor ETFs.Seeks monthly income by holding U.S.-listed semiconductor equities directly and writing options contracts on some or all of those underlying holdings.
Asset classEquityEquity
Inception date04/02/202512/02/2024
Beta1.86131.952
Last dividend$0.5847 payable today$0.9992 payable today
Ex-dividend date10/07/202610/07/2026

Bottom lineChoose CHPY if you want to maximize current income — roughly 44.51%, generated by selling options premium. Choose SOXY if you are comfortable trading away most upside for a large, steady payout. CHPY and SOXY both use option or derivative overlays. Their tradeoff is the underlying exposure, how each option strategy is implemented, and the yield each targets; either overlay can limit upside participation, so neither offers uncapped price exposure.

CHPY vs SOXY: two YieldMax semiconductor overlays

Both sell semiconductor upside for cash. Overlay recipe and payout cadence are the live differences.

CHPYSOXY
BookSemiconductor portfolio overlaySemiconductor premium income
Expense ratio1.03%1.06%
Distribution rate44.51%12.65%

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. CHPY and SOXY generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

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YieldMax
ETFs62
Total AUM$10.2B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

YieldMax is known for specializing in options-based and income-focused ETFs that emphasize yield generation through covered call strategies and other income-producing methodologies. The firm operates a diverse lineup of 63 funds organized across multiple families including covered call strategies, 0DTE (zero days to expiration) options, double distribution approaches, and various target-date and performance-based portfolios designed to generate regular distributions. Notable offerings span popular underlying assets like major technology stocks and broad market indices, with a particular emphasis on providing enhanced income solutions for investors seeking regular cash flows through options strategies and other tactical approaches.

See our curated list of related YouTube videos on CHPY and SOXY.

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Quick verdict

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) are both dividend ETFs, but they take different approaches.

CHPY offers the higher yield at 44.51% vs 12.65% for SOXY. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

CHPY is cheaper with an expense ratio of 1.03% compared to 1.06%.

They have different reference exposures: CHPY is linked to Basket (Semiconductor companies) while SOXY is linked to Basket (Semiconductor stocks), which means their performance drivers differ.

CHPY is the larger fund by assets ($1.35B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, CHPY would generate roughly $85.60 cash per distribution, while SOXY would produce $105.42 cash per distribution, at current distribution rates.

CHPY yield44.51%
SOXY yield12.65%
Cash diff on $10K$19.82

Cost & efficiency

Over 10 years on $10,000, CHPY would cost approximately $1,030 in fees vs $1,060 for SOXY (simplified, not compounded). The $30.00 difference may be offset by yield or performance.

CHPY ER1.03%
SOXY ER1.06%

Strategy & risk

CHPY tracks Basket (Semiconductor companies) with a covered call approach, while SOXY tracks Basket (Semiconductor stocks) with a covered call approach. Beta is 1.8613 for CHPY and 1.952 for SOXY, making CHPY the less volatile of the two by this measure.

CHPY beta1.8613
SOXY beta1.952

Fund details

CHPY is managed by YieldMax (launched 04/02/2025) with $1.35B in assets. SOXY is managed by YieldMax (launched 12/02/2024) with $71.0M in assets.

CHPY AUM$1.35B
SOXY AUM$71.0M
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Frequently asked questions

What is the difference between CHPY and SOXY?

Both are YieldMax semiconductor option-income funds. CHPY (YieldMax Semiconductor Portfolio Option Income ETF) writes options on a semi portfolio. SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) is the premium-income overlay on listed semis. Cost is 1.03% versus 1.06%; distributions are 44.51% and 12.65% as of October 2026. Overlay recipe, not a one-date yield, is the live difference.

What is the current distribution rate for CHPY and SOXY?

CHPY currently distributes 44.51% and SOXY 12.65%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is CHPY or SOXY better for dividend income?

It depends on your goals. CHPY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both CHPY and SOXY?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is CHPY or SOXY safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: CHPY scores 79, SOXY scores 79. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, CHPY or SOXY?

CHPY has an expense ratio of 1.03% while SOXY charges 1.06%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in CHPY vs SOXY generate?

At current rates, $10,000 in CHPY would generate roughly $85.60 cash per distribution ($4,451.00 annually). The same in SOXY would produce about $105.42 cash per distribution ($1,265.00 annually).

Which has performed better historically, CHPY or SOXY?

CHPY has lagged SOXY over the trailing twelve months, posting a 79.25% total return against 79.75%. Measured from Apr 2025 — the start of shared available history — SOXY has compounded at 100.26% a year versus 95.61% for CHPY. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

CHPY vs SOXY — at a glance

Generated October 3, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

CHPY and SOXY are both semiconductor-focused ETFs that generate income through options strategies, but they differ sharply in frequency and intensity. CHPY's tighter option-roll cycle (weekly vs. monthly) allows more frequent premium capture but also compresses the underlying holding period and increases turnover friction. Third, both carry similar expense ratios—1.03% and 1.06% respectively—but SOXY's lower yield may leave more room for portfolio value stability, whereas CHPY's 44.51% payout structure relies heavily on options premium and raises questions about capital-return composition. Finally, CHPY has a beta of 1.8613 versus SOXY's 1.952, indicating CHPY amplifies semiconductor sector swings more sharply.

Who each is best for

CHPY: Fits investors comfortable with weekly income volatility and high distribution yield, seeking frequent portfolio rebalancing opportunities and willing to accept NAV swings in exchange for compressed option-roll cycles.

SOXY: Designed for investors preferring monthly distributions and a more modest yield, trading some income frequency for greater operational simplicity and a longer holding window between option rolls. If volatility contracts or the semiconductor basket declines, the gap between NAV and distribution capacity may widen.

  • Weekly option-roll execution risk. CHPY's weekly options cycle concentrates timing and slippage risk into 52 roll events per year. A spike in intraweek volatility or liquidity gap around the roll date could force unfavorable premium capture or missed income targets.
  • Elevated beta and sector concentration. Both funds carry betas above 1.8, amplifying semiconductor sector downturns. The basket construction overlaps significantly, so a semiconductor-specific correction hits both, but CHPY's 1.8613 magnifies that swing more intensely.
  • Call-away risk from options assignment. Both funds write calls; sharp upside moves in the underlying semiconductor holdings can trigger assignment, forcing the fund to sell appreciated positions and cap further gains. Both are volatile, sector-concentrated bets enhanced by leverage through derivatives—past performance does not predict future results, and the 39% yield in CHPY merits stress-testing against real-world turnover costs and semiconductor price declines.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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These comparisons follow the Dividend Vision methodology.