CHPY vs. MSTY

Last updated Jun 25, 2026

CHPY (YieldMax Semiconductor Portfolio Option Income ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, CHPY returned 127.37% vs -70.33% for MSTY. At a 0.40 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

CHPY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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, CHPY achieves a 80.95% return, which is significantly higher than MSTY's -34.39% return.

CHPY

• 1D: -0.95%
• 1M: 9.84%
• YTD: 80.95%
• 6M: 79.34%
• 1Y: 127.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -9.12%
• 1M: -37.97%
• YTD: -34.39%
• 6M: -36.51%
• 1Y: -70.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CHPY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	80.95%	56.76%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-34.39%	-45.04%

Correlation

The correlation between CHPY and MSTY is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.40

Return for Risk

CHPY vs. MSTY — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 96
CHPY Sharpe Ratio Rank: 97
CHPY Sortino Ratio Rank: 93
CHPY Omega Ratio Rank: 94
CHPY Calmar Ratio Rank: 98
CHPY Martin Ratio Rank: 97

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 0
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

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.

CHPY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) 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.

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.

	CHPY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	3.94	-1.13	+5.06
Sortino ratio: Return per unit of downside risk	4.14	-2.17	+6.31
Omega ratio: Gain probability vs. loss probability	1.61	0.76	+0.85
Calmar ratio: Return relative to maximum drawdown	10.53	-0.95	+11.48
Martin ratio: Return relative to average drawdown	36.72	-1.42	+38.13

CHPY vs. MSTY - Sharpe Ratio Comparison

The current CHPY Sharpe Ratio is 3.94, which is higher than the MSTY Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of CHPY 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.

Drawdowns

CHPY vs. MSTY - Drawdown Comparison

The maximum CHPY drawdown since its inception was -12.19%, smaller than the maximum MSTY drawdown of -74.21%. Use the drawdown chart below to compare losses from any high point for CHPY and MSTY.

Drawdown Indicators

	CHPY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-12.19%	-74.21%	+62.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-74.21%	+62.04%
Current Drawdown Current decline from peak	-7.85%	-74.21%	+66.36%
Average Drawdown Average peak-to-trough decline	-2.15%	-27.06%	+24.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.48%	49.58%	-46.10%

Volatility

CHPY vs. MSTY - Volatility Comparison

The current volatility for YieldMax Semiconductor Portfolio Option Income ETF (CHPY) is 19.71%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 20.77%. This indicates that CHPY 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

	CHPY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.71%	20.77%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	27.92%	50.35%	-22.43%
Volatility (1Y) Calculated over the trailing 1-year period	32.59%	62.64%	-30.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.33%	72.01%	-35.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.33%	72.01%	-35.68%

CHPY vs. MSTY - Expense Ratio Comparison

Both CHPY and MSTY have an expense ratio of 0.99%.

Dividends

CHPY vs. MSTY - Dividend Comparison

CHPY's dividend yield for the trailing twelve months is around 29.92%, less than MSTY's 314.78% yield.

Position	TTM	2025	2024
CHPY YieldMax Semiconductor Portfolio Option Income ETF	29.92%	28.19%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	314.78%	294.61%	104.56%

Frequently Asked Questions

Can I hold both CHPY and MSTY in my portfolio?

CHPY and MSTY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CHPY or MSTY?

MSTY has higher volatility (20.77%) compared to CHPY (19.71%). In terms of maximum drawdown, CHPY dropped -12.19% vs MSTY's -74.21%.

Which ETF is better, CHPY or MSTY?

On 1-year performance, CHPY leads with 127.37% vs -70.33% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, CHPY has been the lower-risk option at 19.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CHPY or MSTY?

Over the 1-year period, CHPY has performed better with a 127.37% return vs -70.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CHPY or MSTY?

CHPY and MSTY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 314.78%, compared with 29.92% for CHPY.

Which has better risk-adjusted returns?

CHPY currently has the higher Sharpe Ratio (3.94 vs -1.13), 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.