BIGY vs. MRNY

Last updated Jul 16, 2026

BIGY ( YieldMax Target 12™ Big 50 Option Income ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, BIGY returned 19.21% vs 67.18% for MRNY. At a 0.33 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

BIGY vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Target 12™ Big 50 Option Income ETF (BIGY) and YieldMax MRNA Option Income Strategy ETF (MRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BIGY achieves a 6.55% return, which is significantly lower than MRNY's 93.46% return.

BIGY

• 1D: 0.29%
• 1M: 0.61%
• 6M: 7.27%
• YTD: 6.55%
• 1Y: 19.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MRNY

• 1D: 1.05%
• 1M: 23.55%
• 6M: 49.76%
• YTD: 93.46%
• 1Y: 67.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BIGY vs. MRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BIGY YieldMax Target 12™ Big 50 Option Income ETF	6.55%	19.14%	-0.10%
MRNY YieldMax MRNA Option Income Strategy ETF	93.46%	-35.72%	9.69%

Correlation

The correlation between BIGY and MRNY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Nov 21, 2024	0.33

Return for Risk

BIGY vs. MRNY — Risk / Return Rank

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

BIGY

BIGY Risk / Return Rank: 62
BIGY Sharpe Ratio Rank: 66
BIGY Sortino Ratio Rank: 64
BIGY Omega Ratio Rank: 65
BIGY Calmar Ratio Rank: 57
BIGY Martin Ratio Rank: 60

MRNY

MRNY Risk / Return Rank: 45
MRNY Sharpe Ratio Rank: 44
MRNY Sortino Ratio Rank: 50
MRNY Omega Ratio Rank: 46
MRNY Calmar Ratio Rank: 52
MRNY Martin Ratio Rank: 34

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.

BIGY vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Target 12™ Big 50 Option Income ETF (BIGY) and YieldMax MRNA Option Income Strategy ETF (MRNY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BIGY	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.28	+0.45
Sortino ratio: Return per unit of downside risk	2.38	2.02	+0.36
Omega ratio: Gain probability vs. loss probability	1.31	1.24	+0.07
Calmar ratio: Return relative to maximum drawdown	2.31	2.14	+0.17
Martin ratio: Return relative to average drawdown	8.55	4.12	+4.43

BIGY vs. MRNY - Sharpe Ratio Comparison

The current BIGY Sharpe Ratio is 1.73, which is higher than the MRNY Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of BIGY and MRNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BIGY vs. MRNY - Drawdown Comparison

The maximum BIGY drawdown since its inception was -18.93%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for BIGY and MRNY.

Drawdown Indicators

	BIGY	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-18.93%	-82.15%	+63.22%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-31.53%	+23.19%
Current Drawdown Current decline from peak	-0.65%	-59.27%	+58.62%
Average Drawdown Average peak-to-trough decline	-2.52%	-52.98%	+50.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	16.34%	-14.09%

Volatility

BIGY vs. MRNY - Volatility Comparison

The current volatility for YieldMax Target 12™ Big 50 Option Income ETF (BIGY) is 3.12%, while YieldMax MRNA Option Income Strategy ETF (MRNY) has a volatility of 20.13%. This indicates that BIGY experiences smaller price fluctuations and is considered to be less risky than MRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BIGY	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	20.13%	-17.01%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	39.63%	-31.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	52.91%	-41.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.51%	51.49%	-34.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	51.49%	-34.98%

BIGY vs. MRNY - Expense Ratio Comparison

Both BIGY and MRNY have an expense ratio of 0.99%.

Dividends

BIGY vs. MRNY - Dividend Comparison

BIGY's dividend yield for the trailing twelve months is around 12.36%, less than MRNY's 86.35% yield.

Position	TTM	2025	2024	2023
BIGY YieldMax Target 12™ Big 50 Option Income ETF	12.36%	12.49%	0.00%	0.00%
MRNY YieldMax MRNA Option Income Strategy ETF	86.35%	145.98%	178.49%	1.75%

Frequently Asked Questions

Can I hold both BIGY and MRNY in my portfolio?

BIGY and MRNY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BIGY or MRNY?

MRNY has higher volatility (20.13%) compared to BIGY (3.12%). In terms of maximum drawdown, BIGY dropped -18.93% vs MRNY's -82.15%.

Which ETF is better, BIGY or MRNY?

On 1-year performance, MRNY leads with 67.18% vs 19.21% for BIGY. Both ETFs have the same 0.99% expense ratio. On volatility, BIGY has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BIGY or MRNY?

Over the 1-year period, MRNY has performed better with a 67.18% return vs 19.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BIGY or MRNY?

BIGY and MRNY have the same expense ratio: 0.99% per year.

Which ETF pays a higher dividend yield, BIGY or MRNY?

MRNY has the higher dividend yield at 86.35%, compared with 12.36% for BIGY.

Which has better risk-adjusted returns?

BIGY currently has the higher Sharpe Ratio (1.73 vs 1.28), 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.