Concerned about impermanent loss on newer LP farms

Been dabbling in a few new DEXs and the yield on some of these newer liquidity pools is really tempting. I'm talking crazy APYs on stuff that isn't even stablecoin pairs. I get the basic concept of impermanent loss (IL) – price divergence between the two assets in an LP, but I'm struggling with how to quantify that risk when one of the assets is a new, highly volatile token. It feels like the high APY could be completely wiped out by IL if the new token dumps relative to the other. How do you guys factor potential IL into your risk sizing for these types of high-yield, high-volatility LP farms? Or do you just view it as a lottery ticket?