DHSB vs. MSTK

Last updated Jun 4, 2026

DHSB (Day Hagan Smart Buffer ETF) and MSTK (Tuttle Capital MSTR 0DTE Covered Call ETF) are both Derivative Income funds. Both are actively managed. At a 0.33 correlation, their price movements are largely independent. DHSB charges 0.68%/yr vs 0.99%/yr for MSTK.

Performance

DHSB vs. MSTK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Day Hagan Smart Buffer ETF (DHSB) and Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DHSB

• 1D: -0.01%
• 1M: 1.26%
• YTD: 4.21%
• 6M: 5.04%
• 1Y: 9.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTK

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DHSB vs. MSTK - Yearly Performance Comparison

	2026 (YTD)	2025
DHSB Day Hagan Smart Buffer ETF	4.21%	1.21%
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	-20.94%	-47.41%

Correlation

The correlation between DHSB and MSTK is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 24, 2025	0.33

Return for Risk

DHSB vs. MSTK — Risk / Return Rank

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

DHSB

DHSB Risk / Return Rank: 63
DHSB Sharpe Ratio Rank: 51
DHSB Sortino Ratio Rank: 55
DHSB Omega Ratio Rank: 69
DHSB Calmar Ratio Rank: 61
DHSB Martin Ratio Rank: 80

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.

DHSB vs. MSTK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Day Hagan Smart Buffer ETF (DHSB) and Tuttle Capital MSTR 0DTE Covered Call ETF (MSTK). 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.

	DHSB	MSTK	Difference
Sharpe ratio: Return per unit of total volatility	1.74	—	—
Sortino ratio: Return per unit of downside risk	2.62	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	2.98	—	—
Martin ratio: Return relative to average drawdown	15.55	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DHSB	MSTK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	—	—

Drawdowns

Drawdown Indicators

	DHSB	MSTK	Difference
Max Drawdown Largest peak-to-trough decline	-7.65%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	—	—
Current Drawdown Current decline from peak	-0.37%	—	—
Average Drawdown Average peak-to-trough decline	-0.88%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.63%	—	—

Volatility

Volatility by Period

	DHSB	MSTK	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.20%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.70%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.63%	—	—

DHSB vs. MSTK - Expense Ratio Comparison

DHSB has a 0.68% expense ratio, which is lower than MSTK's 0.99% expense ratio.

Dividends

DHSB vs. MSTK - Dividend Comparison

DHSB's dividend yield for the trailing twelve months is around 1.20%, less than MSTK's 49.03% yield.

Position	TTM	2025
DHSB Day Hagan Smart Buffer ETF	1.20%	1.25%
MSTK Tuttle Capital MSTR 0DTE Covered Call ETF	49.03%	26.75%

Frequently Asked Questions

Can I hold both DHSB and MSTK in my portfolio?

DHSB and MSTK have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DHSB or MSTK?

On fees, DHSB is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DHSB or MSTK?

DHSB is cheaper with a 0.68% expense ratio, compared with 0.99% for MSTK.

Which ETF pays a higher dividend yield, DHSB or MSTK?

MSTK has the higher dividend yield at 49.03%, compared with 1.20% for DHSB.

What is the main difference between DHSB and MSTK?

They also come from different issuers: Day Hagan and Tuttle Capital Management. Their fees differ too: 0.68% for DHSB and 0.99% for MSTK.