AAPY vs. MSFO

Last updated Apr 1, 2026

Compare and contrast key facts about Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and YieldMax MSFT Option Income Strategy ETF (MSFO).

AAPY and MSFO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AAPY is an actively managed fund by Kurv. It was launched on Oct 26, 2023. MSFO is an actively managed fund by YieldMax. It was launched on Aug 24, 2023.

Performance

AAPY vs. MSFO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and YieldMax MSFT Option Income Strategy ETF (MSFO). The values are adjusted to include any dividend payments, if applicable.

AAPY vs. MSFO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	-8.31%	5.04%	20.54%	9.23%
MSFO YieldMax MSFT Option Income Strategy ETF	-20.13%	15.69%	10.34%	12.78%

Returns By Period

In the year-to-date period, AAPY achieves a -8.31% return, which is significantly higher than MSFO's -20.13% return.

AAPY

• 1D: 3.36%
• 1M: -4.71%
• YTD: -8.31%
• 6M: -1.70%
• 1Y: 7.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSFO

• 1D: 3.31%
• 1M: -5.14%
• YTD: -20.13%
• 6M: -23.41%
• 1Y: 0.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAPY vs. MSFO - Expense Ratio Comparison

Both AAPY and MSFO have an expense ratio of 0.99%.

AAPY

Kurv Yield Premium Strategy Apple (AAPL) ETF

MSFO

YieldMax MSFT Option Income Strategy ETF

Return for Risk

AAPY vs. MSFO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAPY

AAPY Risk / Return Rank: 22
AAPY Sharpe Ratio Rank: 20
AAPY Sortino Ratio Rank: 22
AAPY Omega Ratio Rank: 23
AAPY Calmar Ratio Rank: 23
AAPY Martin Ratio Rank: 22

MSFO

MSFO Risk / Return Rank: 13
MSFO Sharpe Ratio Rank: 13
MSFO Sortino Ratio Rank: 14
MSFO Omega Ratio Rank: 14
MSFO Calmar Ratio Rank: 12
MSFO Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAPY vs. MSFO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) and YieldMax MSFT Option Income Strategy ETF (MSFO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AAPY	MSFO	Difference
Sharpe ratio Return per unit of total volatility	0.28	0.04	+0.24
Sortino ratio Return per unit of downside risk	0.59	0.22	+0.38
Omega ratio Gain probability vs. loss probability	1.09	1.03	+0.06
Calmar ratio Return relative to maximum drawdown	0.47	-0.00	+0.47
Martin ratio Return relative to average drawdown	1.43	-0.00	+1.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAPY vs. MSFO - Sharpe Ratio Comparison

The current AAPY Sharpe Ratio is 0.28, which is higher than the MSFO Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of AAPY and MSFO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AAPY	MSFO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.28	0.04	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.40	+0.07

Correlation

The correlation between AAPY and MSFO is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

AAPY vs. MSFO - Dividend Comparison

AAPY's dividend yield for the trailing twelve months is around 13.59%, less than MSFO's 44.19% yield.

	TTM	2025	2024	2023
AAPY Kurv Yield Premium Strategy Apple (AAPL) ETF	13.59%	12.66%	17.15%	2.16%
MSFO YieldMax MSFT Option Income Strategy ETF	44.19%	33.91%	35.15%	6.44%

Drawdowns

AAPY vs. MSFO - Drawdown Comparison

The maximum AAPY drawdown since its inception was -29.22%, roughly equal to the maximum MSFO drawdown of -29.29%. Use the drawdown chart below to compare losses from any high point for AAPY and MSFO.

Drawdown Indicators

	AAPY	MSFO	Difference
Max Drawdown Largest peak-to-trough decline	-29.22%	-29.29%	+0.07%
Max Drawdown (1Y) Largest decline over 1 year	-19.80%	-29.29%	+9.49%
Current Drawdown Current decline from peak	-11.59%	-26.82%	+15.23%
Average Drawdown Average peak-to-trough decline	-6.52%	-5.72%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.46%	10.45%	-3.99%

Volatility

AAPY vs. MSFO - Volatility Comparison

Kurv Yield Premium Strategy Apple (AAPL) ETF (AAPY) has a higher volatility of 6.56% compared to YieldMax MSFT Option Income Strategy ETF (MSFO) at 5.94%. This indicates that AAPY's price experiences larger fluctuations and is considered to be riskier than MSFO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAPY	MSFO	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.56%	5.94%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	15.36%	16.67%	-1.31%
Volatility (1Y) Calculated over the trailing 1-year period	27.07%	22.29%	+4.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.27%	19.15%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.27%	19.15%	+3.12%