CLOD vs. MSTY

Last updated Jul 14, 2026

CLOD (Themes Cloud Computing ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - CLOD is a Technology Equities fund tracking the Solactive Cloud Technology Index, while MSTY is a Derivative Income fund actively managed by YieldMax. CLOD is passively managed, while MSTY is actively managed. Over the past year, CLOD returned -4.85% vs -73.76% for MSTY. At a 0.47 correlation, their price movements are largely independent. CLOD charges 0.35%/yr vs 0.99%/yr for MSTY.

Performance

CLOD vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) 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, CLOD achieves a -2.97% return, which is significantly higher than MSTY's -35.55% return.

CLOD

• 1D: -0.00%
• 1M: 2.61%
• 6M: -3.86%
• YTD: -2.97%
• 1Y: -4.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -2.03%
• 1M: -23.27%
• 6M: -39.01%
• YTD: -35.55%
• 1Y: -73.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOD vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CLOD Themes Cloud Computing ETF	-2.97%	7.53%	16.83%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-35.55%	-42.71%	212.16%

Correlation

The correlation between CLOD and MSTY is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.47

Return for Risk

CLOD vs. MSTY — Risk / Return Rank

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

CLOD

CLOD Risk / Return Rank: 7
CLOD Sharpe Ratio Rank: 7
CLOD Sortino Ratio Rank: 7
CLOD Omega Ratio Rank: 7
CLOD Calmar Ratio Rank: 8
CLOD Martin Ratio Rank: 8

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.

CLOD vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) 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.

	CLOD	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	-1.15	+0.96
Sortino ratio: Return per unit of downside risk	-0.09	-2.35	+2.27
Omega ratio: Gain probability vs. loss probability	0.99	0.75	+0.24
Calmar ratio: Return relative to maximum drawdown	-0.16	-0.95	+0.80
Martin ratio: Return relative to average drawdown	-0.32	-1.41	+1.09

CLOD vs. MSTY - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is -0.19, which is higher than the MSTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of CLOD 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

CLOD vs. MSTY - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for CLOD and MSTY.

Drawdown Indicators

	CLOD	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-77.40%	+46.04%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-77.40%	+46.04%
Current Drawdown Current decline from peak	-12.43%	-74.66%	+62.23%
Average Drawdown Average peak-to-trough decline	-7.74%	-28.01%	+20.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.97%	52.19%	-37.22%

Volatility

CLOD vs. MSTY - Volatility Comparison

The current volatility for Themes Cloud Computing ETF (CLOD) is 6.97%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 23.76%. This indicates that CLOD 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

	CLOD	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	23.76%	-16.79%
Volatility (6M) Calculated over the trailing 6-month period	22.69%	53.06%	-30.37%
Volatility (1Y) Calculated over the trailing 1-year period	26.00%	64.61%	-38.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.54%	72.32%	-47.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	72.32%	-47.78%

CLOD vs. MSTY - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

CLOD vs. MSTY - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.51%, less than MSTY's 289.43% yield.

Position	TTM	2025	2024
CLOD Themes Cloud Computing ETF	1.51%	1.47%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.43%	294.61%	104.56%

Frequently Asked Questions

Can I hold both CLOD and MSTY in my portfolio?

CLOD and MSTY have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOD or MSTY?

MSTY has higher volatility (23.76%) compared to CLOD (6.97%). In terms of maximum drawdown, CLOD dropped -31.36% vs MSTY's -77.40%.

Which ETF is better, CLOD or MSTY?

On 1-year performance, CLOD leads with -4.85% vs -73.76% for MSTY. On fees, CLOD is cheaper at 0.35% per year. On volatility, CLOD has been the lower-risk option at 6.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or MSTY?

Over the 1-year period, CLOD has performed better with a -4.85% return vs -73.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or MSTY?

CLOD is cheaper with a 0.35% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 289.43%, compared with 1.51% for CLOD.

What is the main difference between CLOD and MSTY?

CLOD is categorized as Technology Equities, while MSTY is Derivative Income. They also come from different issuers: Themes and YieldMax. Their fees differ too: 0.35% for CLOD and 0.99% for MSTY.

Which has better risk-adjusted returns?

CLOD currently has the higher Sharpe Ratio (-0.19 vs -1.15), 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.