CRSH vs. MRNY

Last updated Aug 5, 2026

CRSH (YieldMax Short TSLA Option Income Strategy ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, CRSH returned -7.97% vs 66.65% for MRNY. Their -0.22 correlation means they have often moved in opposite directions in the past. Both charge a 0.99% expense ratio.

Performance

CRSH vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Short TSLA Option Income Strategy ETF (CRSH) 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, CRSH achieves a 21.72% return, which is significantly lower than MRNY's 67.49% return.

CRSH

• 1D: -1.60%
• 1M: 13.05%
• 6M: 14.20%
• YTD: 21.72%
• 1Y: -7.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -26.35%

MRNY

• 1D: 2.95%
• 1M: -23.09%
• 6M: 24.37%
• YTD: 67.49%
• 1Y: 66.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CRSH YieldMax Short TSLA Option Income Strategy ETF	$457.04K	$338.01K	$365.84K
MRNY YieldMax MRNA Option Income Strategy ETF	$2.18M	$3.51M	$3.17M

CRSH vs. MRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CRSH YieldMax Short TSLA Option Income Strategy ETF	21.72%	-13.40%	-52.42%
MRNY YieldMax MRNA Option Income Strategy ETF	67.49%	-35.72%	-64.08%

Correlation

The correlation between CRSH and MRNY is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.18
Correlation (All Time) Calculated using the full available price history since May 2, 2024	-0.22

Return for Risk

CRSH vs. MRNY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CRSH

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

MRNY

MRNY Risk / Return Rank: 50
MRNY Sharpe Ratio Rank: 45
MRNY Sortino Ratio Rank: 50
MRNY Omega Ratio Rank: 46
MRNY Calmar Ratio Rank: 58
MRNY Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CRSH vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Short TSLA Option Income Strategy ETF (CRSH) 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.

	CRSH	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	1.27	-1.49
Sortino ratio: Return per unit of downside risk	-0.06	2.02	-2.08
Omega ratio: Gain probability vs. loss probability	0.99	1.24	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.26	2.32	-2.59
Martin ratio: Return relative to average drawdown	-0.41	6.66	-7.08

CRSH vs. MRNY - Sharpe Ratio Comparison

The current CRSH Sharpe Ratio is -0.22, which is lower than the MRNY Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of CRSH 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

CRSH vs. MRNY - Drawdown Comparison

The maximum CRSH drawdown since its inception was -63.68%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for CRSH and MRNY.

Drawdown Indicators

	CRSH	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-63.68%	-82.15%	+18.47%
Max Drawdown (1Y) Largest decline over 1 year	-30.50%	-28.84%	-1.66%
Current Drawdown Current decline from peak	-52.11%	-64.74%	+12.63%
Average Drawdown Average peak-to-trough decline	-44.01%	-53.22%	+9.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.37%	10.03%	+9.34%

Volatility

CRSH vs. MRNY - Volatility Comparison

The current volatility for YieldMax Short TSLA Option Income Strategy ETF (CRSH) is 12.40%, while YieldMax MRNA Option Income Strategy ETF (MRNY) has a volatility of 15.84%. This indicates that CRSH 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

	CRSH	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.40%	15.84%	-3.44%
Volatility (6M) Calculated over the trailing 6-month period	26.58%	36.23%	-9.65%
Volatility (1Y) Calculated over the trailing 1-year period	36.86%	52.67%	-15.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.45%	51.51%	-4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.45%	51.51%	-4.06%

CRSH vs. MRNY - Expense Ratio Comparison

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

Dividends

CRSH vs. MRNY - Dividend Comparison

CRSH's dividend yield for the trailing twelve months is around 78.07%, less than MRNY's 97.50% yield.

Position	TTM	2025	2024	2023
CRSH YieldMax Short TSLA Option Income Strategy ETF	78.07%	138.78%	94.25%	0.00%
MRNY YieldMax MRNA Option Income Strategy ETF	97.50%	145.98%	178.49%	1.75%

Frequently Asked Questions

Can I hold both CRSH and MRNY in my portfolio?

CRSH and MRNY have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRSH or MRNY?

MRNY has higher volatility (15.84%) compared to CRSH (12.40%). In terms of maximum drawdown, CRSH dropped -63.68% vs MRNY's -82.15%.

Which ETF is better, CRSH or MRNY?

On 1-year performance, MRNY leads with 66.65% vs -7.97% for CRSH. Both ETFs have the same 0.99% expense ratio. On volatility, CRSH has been the lower-risk option at 12.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRSH or MRNY?

Over the 1-year period, MRNY has performed better with a 66.65% return vs -7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRSH or MRNY?

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

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

MRNY has the higher dividend yield at 97.50%, compared with 78.07% for CRSH.

Which has better risk-adjusted returns?

MRNY currently has the higher Sharpe Ratio (1.27 vs -0.22), 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.