CZAR vs. MSTY
CZAR (Themes Natural Monopoly ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - CZAR is a Large Cap Blend Equities fund tracking the Solactive Natural Monopoly Index - Benchmark TR Gross, while MSTY is a Derivative Income fund actively managed by YieldMax. CZAR is passively managed, while MSTY is actively managed. Over the past year, CZAR returned 2.33% vs -65.11% for MSTY. At a 0.32 correlation, their price movements are largely independent. CZAR charges 0.35%/yr vs 0.99%/yr for MSTY.
Performance
CZAR vs. MSTY - Performance Comparison
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Returns By Period
In the year-to-date period, CZAR achieves a -3.31% return, which is significantly higher than MSTY's -24.36% return.
CZAR
- 1D
- -0.34%
- 1M
- -3.51%
- YTD
- -3.31%
- 6M
- -3.54%
- 1Y
- 2.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTY
- 1D
- -1.97%
- 1M
- -28.49%
- YTD
- -24.36%
- 6M
- -28.98%
- 1Y
- -65.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CZAR vs. MSTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CZAR Themes Natural Monopoly ETF | -3.31% | 13.32% | 8.01% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | -24.36% | -42.71% | 212.16% |
Correlation
The correlation between CZAR and MSTY is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024 | 0.32 |
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Return for Risk
CZAR vs. MSTY — Risk / Return Rank
CZAR
MSTY
CZAR vs. MSTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Natural Monopoly ETF (CZAR) 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.
| CZAR | MSTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.79 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | -0.91 | +1.15 |
| Martin ratioReturn relative to average drawdown | 0.73 | -1.33 | +2.06 |
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Drawdowns
CZAR vs. MSTY - Drawdown Comparison
The maximum CZAR drawdown since its inception was -13.38%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for CZAR and MSTY.
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Drawdown Indicators
| CZAR | MSTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.38% | -71.79% | +58.41% |
Max Drawdown (1Y)Largest decline over 1 year | -9.54% | -71.79% | +62.25% |
Current DrawdownCurrent decline from peak | -5.98% | -70.26% | +64.28% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -26.90% | +24.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 49.15% | -45.95% |
Volatility
CZAR vs. MSTY - Volatility Comparison
The current volatility for Themes Natural Monopoly ETF (CZAR) is 2.88%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.16%. This indicates that CZAR 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.
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Volatility by Period
| CZAR | MSTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 19.16% | -16.28% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 49.48% | -39.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.15% | 62.00% | -49.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 71.81% | -56.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 71.81% | -56.82% |
CZAR vs. MSTY - Expense Ratio Comparison
CZAR has a 0.35% expense ratio, which is lower than MSTY's 0.99% expense ratio.
Dividends
CZAR vs. MSTY - Dividend Comparison
CZAR's dividend yield for the trailing twelve months is around 1.52%, less than MSTY's 273.05% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
CZAR Themes Natural Monopoly ETF | 1.52% | 1.47% | 0.94% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | 273.05% | 294.61% | 104.56% |
Frequently Asked Questions
CZAR and MSTY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTY has higher volatility (19.16%) compared to CZAR (2.88%). In terms of maximum drawdown, CZAR dropped -13.38% vs MSTY's -71.79%.
On 1-year performance, CZAR leads with 2.33% vs -65.11% for MSTY. On fees, CZAR is cheaper at 0.35% per year. On volatility, CZAR has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CZAR has performed better with a 2.33% return vs -65.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CZAR is cheaper with a 0.35% expense ratio, compared with 0.99% for MSTY.
MSTY has the higher dividend yield at 273.05%, compared with 1.52% for CZAR.
CZAR is categorized as Large Cap Blend Equities, while MSTY is Derivative Income. They also come from different issuers: Themes and YieldMax. Their fees differ too: 0.35% for CZAR and 0.99% for MSTY.
CZAR currently has the higher Sharpe Ratio (0.19 vs -1.05), 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.
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