Overview
Yearn Finance and Convex Finance both optimize DeFi yields, but with fundamentally different approaches. Yearn runs diverse automated strategies across many protocols, while Convex focuses specifically on maximizing Curve Finance yields through veCRV aggregation.
Head-to-Head Comparison
Strategy Focus
Yearn: Broad yield optimization across lending, LP, and complex strategies for many assets. Convex: Laser-focused on Curve ecosystem. Boosting Curve yields through aggregated veCRV power.TVL and Market Position
- Yearn: $500M+ TVL across 100+ vaults
- Convex: $2B+ TVL, controls ~50% of veCRV
Fee Structure
- Yearn: 2% management + 20% performance
- Convex: 16% of CRV rewards (split with LPs)
When to Choose Each
Yearn: Want automated yield across many assets and protocols Convex: Want maximized Curve LP yields or CRV stakingRisk Analysis
Both are heavily audited. Yearn's risk is strategy-specific; Convex's risk is concentrated in Curve dependency.
Track yields with Fensory.