Which paid more, CONY or FIAT?

Over the year to Sep 30, 2026, CONY paid 35.9% of its starting price in cash and FIAT paid 69.4%, so FIAT paid more. Cash paid is not the same as money made: the price change matters too.

Which returned more once distributions are counted, CONY or FIAT?

With every distribution reinvested, CONY returned −38.8% and FIAT +23.5% over the year to Sep 30, 2026.

Which is cheaper, CONY or FIAT?

CONY charges 1.04% a year and FIAT charges 1.05%, so CONY is cheaper. Fees come from each fund's prospectus.

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CONY vs FIAT: which paid, and which earned it?

Over the year FIAT paid 69.4% of its price in cash against CONY’s 35.9%, and returned more with it reinvested. YieldMax(R) COIN Option Income Strategy ETF and YieldMax(R) Short COIN Option Income Strategy ETF.

35.9%

CONY cash paid, 1 year

69.4%

FIAT cash paid, 1 year

−38.8%

CONY total return, 1 year

+23.5%

FIAT total return, 1 year

CONY · 1 year to Sep 30, 20266 pts ahead of COIN

CONY

−38.8%

COIN

−44.8%

6 pts ahead of COIN

CONY over 1 year: paid 35.9%, price −70.8%, total −38.8%, COIN −44.8%, +6.0 pts.

COIN

−44.8%

CONY

−38.8%

6 pts ahead of COIN

Total return, distributions reinvested

6 pts ahead of COIN

CONY over 1 year: paid 35.9%, price −70.8%, total −38.8%, COIN −44.8%, +6.0 pts.

COIN

−44.8%

CONY

−38.8%

6 pts ahead of COIN

35.9% of it arrived as cash. Total return, distributions reinvested. CONY over 1 year: paid 35.9%, price −70.8%, total −38.8%, COIN −44.8%, +6.0 pts.

FIAT · 1 year to Sep 30, 202668.2 pts ahead of COIN

FIAT

+23.5%

COIN

−44.8%

68.2 pts ahead of COIN

FIAT over 1 year: paid 69.4%, price −43.3%, total +23.5%, COIN −44.8%, +68.2 pts.

COIN

−44.8%

FIAT

+23.5%

69.4% of it arrived as cash

68.2 pts ahead of COIN

Total return, distributions reinvested

68.2 pts ahead of COIN

FIAT over 1 year: paid 69.4%, price −43.3%, total +23.5%, COIN −44.8%, +68.2 pts.

COIN

−44.8%

FIAT

+23.5%

68.2 pts ahead of COIN

69.4% of it arrived as cash. Both charts share one scale, 0 to +23.5%. FIAT over 1 year: paid 69.4%, price −43.3%, total +23.5%, COIN −44.8%, +68.2 pts.

ETFIQ Return Stability Score · FIAT scores higherWas the payout funded by returns, or by your own capital?

CONY 53.6

FIAT 75.8

7.2, the lowest in this set97.2, the highest

A percentile among the 70 income ETFs writing on a single company. It is a position in a set, not a rating, and neither end of it is a recommendation. All income ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, CONY and FIAT hold 14% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jul 31, 2026 and Oct 1, 2026.

50%

half

14% in common

Positions both hold, largest shared weight first

Holding CONY FIAT

United States Treasury Bill 10/15/2026 13.97% 83.08%

Only in CONY

United States Treasury Note/Bond 2.375% 05/15/2027 24.60%

United States Treasury Bill 02/18/2027 20.43%

United States Treasury Bill 12/10/2026 18.00%

COIN US 10/16/26 C150 9.37%

COIN US 11/20/26 C170 8.13%

United States Treasury Bill 07/08/2027 5.46%

First American Government Obligations Fund 12/01/2031 3.17%

COIN US 10/02/26 C212.5 0.05%

Only in FIAT

TREASURY BILL 15.42%

TREASURY BILL 1.50%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Performance, window by window

	Total return		Cash paid		Against the benchmark
Window	CONY	FIAT	CONY	FIAT	CONY	FIAT
3 months	+18.8%	−14.6%	17.8%	15.8%	+1.7 pts	−31.6 pts
6 months	+11.5%	−14.7%	32.3%	29.8%	+3.8 pts	−22.5 pts
1 year	−38.8%	+23.5%	35.9%	69.4%	+6.0 pts	+68.2 pts
3 years	+47.0%	not published	172.9%	not published	−101.2 pts	not published
Since launch CONY Aug 2023 · FIAT Jul 2024	+46.0%	−48.4%	171.8%	64.5%	−89.4 pts	−33.3 pts

CONY and FIAT over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CONY

YieldMax(R) COIN Option Income Strategy ETF · Synthetic covered call on COIN, paying weekly

FIAT

YieldMax(R) Short COIN Option Income Strategy ETF · Short single-stock option income on COIN, paying weekly

Issuer YieldMax YieldMax

Strategy synthetic covered call short single-stock option income

Benchmark Coinbase (COIN) Coinbase (COIN)

Pays weekly weekly

Payout rate, annualized 72.8% 52.8%

Expense ratio 1.04% 1.05%

Cash paid, 1 year 35.9% 69.4%

Price change, 1 year −70.8% −43.3%

Total return, 1 year −38.8% +23.5%

Benchmark return, 1 year −44.8% −44.8%

Ahead or behind +6.0 pts +68.2 pts

Return of capital, latest estimate 88% 95%

Age 1142 days 812 days

Net assets $380m $29m

CONY and FIAT on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CONY in plain words

Over the year to Sep 30, 2026, CONY paid 35.9% of its starting value in cash distributions while its price fell 70.8%. With every distribution reinvested, the fund returned −38.8%. Coinbase (COIN) returned −44.8% over the same days, so a holder was ahead by 6.0 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 72.8%, paid weekly. YieldMax estimates that 88% of the distribution paid Oct 2, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

FIAT in plain words

Over the year to Sep 30, 2026, FIAT paid 69.4% of its starting value in cash distributions while its price fell 43.3%. With every distribution reinvested, the fund returned +23.5%. Coinbase (COIN) returned −44.8% over the same days, so a holder was ahead by 68.2 pts. At its price on Sep 30, 2026 the latest distribution annualizes to 52.8%, paid weekly. YieldMax estimates that 95% of the distribution paid Oct 2, 2026 was a return of capital (19a-1 notice, estimated, a tax characterization rather than a measure of erosion).

Questions people ask

Which paid more, CONY or FIAT?: Over the year to Sep 30, 2026, CONY paid 35.9% of its starting price in cash and FIAT paid 69.4%, so FIAT paid more. Cash paid is not the same as money made: the price change matters too.
Which returned more once distributions are counted, CONY or FIAT?: With every distribution reinvested, CONY returned −38.8% and FIAT +23.5% over the year to Sep 30, 2026.
Which is cheaper, CONY or FIAT?: CONY charges 1.04% a year and FIAT charges 1.05%, so CONY is cheaper. Fees come from each fund's prospectus.

Other comparisons

CONY vs XYLD CONY vs YMAX CONY vs DIVO CONY vs FEPI FIAT vs COIW FIAT vs COYY FIAT vs ATC CONY vs GOOY

CONY on its own →FIAT on its own →How every figure is computed →Standards and sources →

Where these figures came from

CONY and FIAT filings on SEC EDGAR ↗CONY prospectus with the expense ratio (SEC) ↗CONY 19a-1 distribution notice ↗YieldMax page for CONY ↗FIAT prospectus with the expense ratio (SEC) ↗FIAT 19a-1 distribution notice ↗YieldMax page for FIAT ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CONY against FIAT, data as of Sep 30, 2026. https://etfiq.com/compare/income/cony-vs-fiat

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.