DUBS vs. MRNY

Last updated Jul 15, 2026

DUBS (Aptus Large Cap Enhanced Yield ETF) and MRNY (YieldMax MRNA Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, DUBS returned 25.77% vs 58.68% for MRNY. At a 0.33 correlation, their price movements are largely independent. DUBS charges 0.39%/yr vs 0.99%/yr for MRNY.

Performance

DUBS vs. MRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Large Cap Enhanced Yield ETF (DUBS) 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, DUBS achieves a 12.60% return, which is significantly lower than MRNY's 91.45% return.

DUBS

• 1D: 0.46%
• 1M: 2.11%
• 6M: 11.10%
• YTD: 12.60%
• 1Y: 25.77%
• 3Y*: 20.36%
• 5Y*: —
• 10Y*: —

MRNY

• 1D: 0.89%
• 1M: 25.82%
• 6M: 50.63%
• YTD: 91.45%
• 1Y: 58.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DUBS vs. MRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DUBS Aptus Large Cap Enhanced Yield ETF	12.60%	19.28%	24.08%	10.55%
MRNY YieldMax MRNA Option Income Strategy ETF	91.45%	-35.72%	-59.32%	18.27%

Correlation

The correlation between DUBS and MRNY 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 Oct 24, 2023	0.33

Return for Risk

DUBS vs. MRNY — Risk / Return Rank

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

DUBS

DUBS Risk / Return Rank: 77
DUBS Sharpe Ratio Rank: 75
DUBS Sortino Ratio Rank: 72
DUBS Omega Ratio Rank: 76
DUBS Calmar Ratio Rank: 76
DUBS Martin Ratio Rank: 85

MRNY

MRNY Risk / Return Rank: 40
MRNY Sharpe Ratio Rank: 38
MRNY Sortino Ratio Rank: 44
MRNY Omega Ratio Rank: 41
MRNY Calmar Ratio Rank: 46
MRNY Martin Ratio Rank: 31

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.

DUBS vs. MRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Large Cap Enhanced Yield ETF (DUBS) 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.

	DUBS	MRNY	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.11	+0.80
Sortino ratio: Return per unit of downside risk	2.59	1.85	+0.74
Omega ratio: Gain probability vs. loss probability	1.35	1.22	+0.13
Calmar ratio: Return relative to maximum drawdown	3.12	1.87	+1.25
Martin ratio: Return relative to average drawdown	13.69	3.61	+10.08

DUBS vs. MRNY - Sharpe Ratio Comparison

The current DUBS Sharpe Ratio is 1.92, which is higher than the MRNY Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of DUBS 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

DUBS vs. MRNY - Drawdown Comparison

The maximum DUBS drawdown since its inception was -18.48%, smaller than the maximum MRNY drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for DUBS and MRNY.

Drawdown Indicators

	DUBS	MRNY	Difference
Max Drawdown Largest peak-to-trough decline	-18.48%	-82.15%	+63.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.29%	-31.53%	+23.24%
Max Drawdown (3Y) Largest decline over 3 years	-18.48%	—	—
Current Drawdown Current decline from peak	-0.54%	-59.70%	+59.16%
Average Drawdown Average peak-to-trough decline	-1.94%	-52.97%	+51.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	16.33%	-14.44%

Volatility

DUBS vs. MRNY - Volatility Comparison

The current volatility for Aptus Large Cap Enhanced Yield ETF (DUBS) is 3.90%, while YieldMax MRNA Option Income Strategy ETF (MRNY) has a volatility of 20.13%. This indicates that DUBS 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

	DUBS	MRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	20.13%	-16.23%
Volatility (6M) Calculated over the trailing 6-month period	10.74%	39.62%	-28.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	52.93%	-39.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.64%	51.52%	-36.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	51.52%	-36.88%

DUBS vs. MRNY - Expense Ratio Comparison

DUBS has a 0.39% expense ratio, which is lower than MRNY's 0.99% expense ratio.

Dividends

DUBS vs. MRNY - Dividend Comparison

DUBS's dividend yield for the trailing twelve months is around 1.99%, less than MRNY's 87.26% yield.

Position	TTM	2025	2024	2023
DUBS Aptus Large Cap Enhanced Yield ETF	1.99%	2.06%	2.52%	1.14%
MRNY YieldMax MRNA Option Income Strategy ETF	87.26%	145.98%	178.49%	1.75%

Frequently Asked Questions

Can I hold both DUBS and MRNY in my portfolio?

DUBS and MRNY 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.

Which is riskier, DUBS or MRNY?

MRNY has higher volatility (20.13%) compared to DUBS (3.90%). In terms of maximum drawdown, DUBS dropped -18.48% vs MRNY's -82.15%.

Which ETF is better, DUBS or MRNY?

On 1-year performance, MRNY leads with 58.68% vs 25.77% for DUBS. On fees, DUBS is cheaper at 0.39% per year. On volatility, DUBS has been the lower-risk option at 3.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DUBS or MRNY?

Over the 1-year period, MRNY has performed better with a 58.68% return vs 25.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DUBS or MRNY?

DUBS is cheaper with a 0.39% expense ratio, compared with 0.99% for MRNY.

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

MRNY has the higher dividend yield at 87.26%, compared with 1.99% for DUBS.

What is the main difference between DUBS and MRNY?

They also come from different issuers: Aptus and YieldMax. Their fees differ too: 0.39% for DUBS and 0.99% for MRNY.

Which has better risk-adjusted returns?

DUBS currently has the higher Sharpe Ratio (1.92 vs 1.11), 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.