BTCY.TO vs. MSTY

Last updated Apr 1, 2026

Compare and contrast key facts about Purpose Bitcoin Yield ETF - ETF Units (BTCY.TO) and YieldMax™ MSTR Option Income Strategy ETF (MSTY).

BTCY.TO and MSTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BTCY.TO is an actively managed fund by Purpose Investments. It was launched on Dec 2, 2021. MSTY is an actively managed fund by YieldMax. It was launched on Feb 21, 2024.

Performance

BTCY.TO vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Purpose Bitcoin Yield ETF - ETF Units (BTCY.TO) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

BTCY.TO vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BTCY.TO Purpose Bitcoin Yield ETF - ETF Units	-26.66%	-9.07%	74.36%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-12.41%	-45.34%	220.22%

Different Trading Currencies

BTCY.TO is traded in CAD, while MSTY is traded in USD. To make them comparable, the MSTY values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, BTCY.TO achieves a -26.66% return, which is significantly lower than MSTY's -14.43% return.

BTCY.TO

• 1D: 2.72%
• 1M: 4.09%
• YTD: -26.66%
• 6M: -44.02%
• 1Y: -24.71%
• 3Y*: 25.20%
• 5Y*: —
• 10Y*: —

MSTY

• 1D: 0.00%
• 1M: -2.04%
• YTD: -14.43%
• 6M: -55.32%
• 1Y: -51.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BTCY.TO vs. MSTY - Expense Ratio Comparison

MSTY

YieldMax™ MSTR Option Income Strategy ETF

Return for Risk

BTCY.TO vs. MSTY — Risk / Return Rank

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

BTCY.TO

BTCY.TO Risk / Return Rank: 4
BTCY.TO Sharpe Ratio Rank: 4
BTCY.TO Sortino Ratio Rank: 4
BTCY.TO Omega Ratio Rank: 4
BTCY.TO Calmar Ratio Rank: 4
BTCY.TO Martin Ratio Rank: 3

MSTY

MSTY Risk / Return Rank: 2
MSTY Sharpe Ratio Rank: 2
MSTY Sortino Ratio Rank: 2
MSTY Omega Ratio Rank: 2
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 3

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.

BTCY.TO vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Purpose Bitcoin Yield ETF - ETF Units (BTCY.TO) 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.

	BTCY.TO	MSTY	Difference
Sharpe ratio Return per unit of total volatility	-0.51	-0.82	+0.31
Sortino ratio Return per unit of downside risk	-0.48	-1.18	+0.70
Omega ratio Gain probability vs. loss probability	0.94	0.86	+0.08
Calmar ratio Return relative to maximum drawdown	-0.48	-0.72	+0.23
Martin ratio Return relative to average drawdown	-1.10	-1.30	+0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTCY.TO vs. MSTY - Sharpe Ratio Comparison

The current BTCY.TO Sharpe Ratio is -0.51, which is higher than the MSTY Sharpe Ratio of -0.82. The chart below compares the historical Sharpe Ratios of BTCY.TO and MSTY, 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

	BTCY.TO	MSTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	-0.82	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	-0.03	0.30	-0.33

Correlation

The correlation between BTCY.TO and MSTY is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

BTCY.TO vs. MSTY - Dividend Comparison

BTCY.TO's dividend yield for the trailing twelve months is around 21.63%, less than MSTY's 298.73% yield.

	TTM	2025	2024	2023	2022	2021
BTCY.TO Purpose Bitcoin Yield ETF - ETF Units	21.63%	15.11%	16.75%	9.22%	24.25%	1.23%
MSTY YieldMax™ MSTR Option Income Strategy ETF	298.73%	294.61%	104.56%	0.00%	0.00%	0.00%

Drawdowns

BTCY.TO vs. MSTY - Drawdown Comparison

The maximum BTCY.TO drawdown since its inception was -69.71%, roughly equal to the maximum MSTY drawdown of -71.84%. Use the drawdown chart below to compare losses from any high point for BTCY.TO and MSTY.

Drawdown Indicators

	BTCY.TO	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-69.71%	-71.79%	+2.08%
Max Drawdown (1Y) Largest decline over 1 year	-52.51%	-71.79%	+19.28%
Current Drawdown Current decline from peak	-48.05%	-66.02%	+17.97%
Average Drawdown Average peak-to-trough decline	-30.39%	-23.37%	-7.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.13%	40.02%	-16.89%

Volatility

BTCY.TO vs. MSTY - Volatility Comparison

Purpose Bitcoin Yield ETF - ETF Units (BTCY.TO) and YieldMax™ MSTR Option Income Strategy ETF (MSTY) have volatilities of 14.79% and 14.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTCY.TO	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.79%	14.55%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	41.27%	48.40%	-7.13%
Volatility (1Y) Calculated over the trailing 1-year period	48.25%	62.96%	-14.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.30%	71.67%	-20.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.30%	71.67%	-20.37%