BDRY vs. MSTY

Last updated Jun 4, 2026

BDRY (Breakwave Dry Bulk Shipping ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - BDRY is a Commodities fund tracking the Breakwave Dry Freight Futures Index, while MSTY is a Derivative Income fund actively managed by YieldMax. BDRY is passively managed, while MSTY is actively managed. Over the past year, BDRY returned 142.69% vs -61.25% for MSTY. At a correlation of -0.00, they often move in opposite directions. BDRY charges 3.76%/yr vs 0.99%/yr for MSTY.

Performance

BDRY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Breakwave Dry Bulk Shipping ETF (BDRY) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDRY achieves a 43.90% return, which is significantly higher than MSTY's -14.73% return.

BDRY

• 1D: -2.47%
• 1M: 7.04%
• YTD: 43.90%
• 6M: 35.70%
• 1Y: 142.69%
• 3Y*: 27.14%
• 5Y*: -11.69%
• 10Y*: —

MSTY

• 1D: -6.76%
• 1M: -28.46%
• YTD: -14.73%
• 6M: -26.86%
• 1Y: -61.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BDRY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BDRY Breakwave Dry Bulk Shipping ETF	43.90%	44.24%	-55.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-14.73%	-42.71%	200.20%

Correlation

The correlation between BDRY and MSTY is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024	-0.00

Return for Risk

BDRY vs. MSTY — Risk / Return Rank

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

BDRY

BDRY Risk / Return Rank: 85
BDRY Sharpe Ratio Rank: 92
BDRY Sortino Ratio Rank: 79
BDRY Omega Ratio Rank: 74
BDRY Calmar Ratio Rank: 93
BDRY Martin Ratio Rank: 88

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 2

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.

BDRY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Breakwave Dry Bulk Shipping ETF (BDRY) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). 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.

	BDRY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	3.40	-1.02	+4.41
Sortino ratio: Return per unit of downside risk	3.58	-1.73	+5.31
Omega ratio: Gain probability vs. loss probability	1.45	0.81	+0.64
Calmar ratio: Return relative to maximum drawdown	6.65	-0.86	+7.50
Martin ratio: Return relative to average drawdown	19.36	-1.31	+20.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BDRY vs. MSTY - Sharpe Ratio Comparison

The current BDRY Sharpe Ratio is 3.40, which is higher than the MSTY Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of BDRY and MSTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BDRY	MSTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.40	-1.02	+4.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	0.26	-0.39

Drawdowns

BDRY vs. MSTY - Drawdown Comparison

The maximum BDRY drawdown since its inception was -89.16%, which is greater than MSTY's maximum drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for BDRY and MSTY.

Drawdown Indicators

	BDRY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-89.16%	-71.79%	-17.37%
Max Drawdown (1Y) Largest decline over 1 year	-21.60%	-71.79%	+50.19%
Max Drawdown (3Y) Largest decline over 3 years	-69.71%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-89.16%	—	—
Current Drawdown Current decline from peak	-69.60%	-66.48%	-3.12%
Average Drawdown Average peak-to-trough decline	-58.38%	-26.09%	-32.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	46.87%	-39.47%

Volatility

BDRY vs. MSTY - Volatility Comparison

The current volatility for Breakwave Dry Bulk Shipping ETF (BDRY) is 11.26%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 17.01%. This indicates that BDRY experiences smaller price fluctuations and is considered to be less risky than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDRY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.26%	17.01%	-5.75%
Volatility (6M) Calculated over the trailing 6-month period	30.02%	48.79%	-18.77%
Volatility (1Y) Calculated over the trailing 1-year period	42.29%	60.44%	-18.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.70%	71.92%	-11.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.58%	71.92%	-9.34%

BDRY vs. MSTY - Expense Ratio Comparison

BDRY has a 3.76% expense ratio, which is higher than MSTY's 0.99% expense ratio.

Dividends

BDRY vs. MSTY - Dividend Comparison

BDRY has not paid dividends to shareholders, while MSTY's dividend yield for the trailing twelve months is around 269.45%.

Position	TTM	2025	2024
BDRY Breakwave Dry Bulk Shipping ETF	0.00%	0.00%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	269.45%	294.61%	104.56%

Frequently Asked Questions

Can I hold both BDRY and MSTY in my portfolio?

BDRY and MSTY have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDRY or MSTY?

MSTY has higher volatility (17.01%) compared to BDRY (11.26%). In terms of maximum drawdown, BDRY dropped -89.16% vs MSTY's -71.79%.

Which ETF is better, BDRY or MSTY?

On 1-year performance, BDRY leads with 142.69% vs -61.25% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, BDRY has been the lower-risk option at 11.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BDRY or MSTY?

Over the 1-year period, BDRY has performed better with a 142.69% return vs -61.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BDRY or MSTY?

MSTY is cheaper with a 0.99% expense ratio, compared with 3.76% for BDRY.

Which ETF pays a higher dividend yield, BDRY or MSTY?

MSTY has the higher dividend yield at 269.45%, compared with 0.00% for BDRY.

What is the main difference between BDRY and MSTY?

BDRY is categorized as Commodities, while MSTY is Derivative Income. They also come from different issuers: ETFMG and YieldMax. Their fees differ too: 3.76% for BDRY and 0.99% for MSTY.

Which has better risk-adjusted returns?

BDRY currently has the higher Sharpe Ratio (3.40 vs -1.02), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.