EETH vs. MSTY

Last updated Jun 4, 2026

EETH (ProShares Ether Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - EETH is a Cryptocurrency fund actively managed by ProShares, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, EETH returned -34.99% vs -61.25% for MSTY. A 0.68 correlation means they provide meaningful diversification when combined. EETH charges 0.95%/yr vs 0.99%/yr for MSTY.

Performance

EETH vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ether Strategy ETF (EETH) 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, EETH achieves a -40.33% return, which is significantly lower than MSTY's -14.73% return.

EETH

• 1D: -5.60%
• 1M: -23.79%
• YTD: -40.33%
• 6M: -43.77%
• 1Y: -34.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -6.76%
• 1M: -28.46%
• YTD: -14.73%
• 6M: -26.86%
• 1Y: -61.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EETH vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EETH ProShares Ether Strategy ETF	-40.33%	-17.19%	3.47%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-14.73%	-42.71%	200.20%

Correlation

The correlation between EETH and MSTY is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024	0.68

The correlation between EETH and MSTY has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

Return for Risk

EETH vs. MSTY — Risk / Return Rank

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

EETH

EETH Risk / Return Rank: 5
EETH Sharpe Ratio Rank: 4
EETH Sortino Ratio Rank: 5
EETH Omega Ratio Rank: 5
EETH Calmar Ratio Rank: 4
EETH Martin Ratio Rank: 5

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 1
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 2
MSTY Martin Ratio Rank: 2

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.

EETH vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ether Strategy ETF (EETH) 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.

	EETH	MSTY	Difference
Sharpe ratio Return per unit of total volatility	-0.51	-1.02	+0.51
Sortino ratio Return per unit of downside risk	-0.41	-1.73	+1.32
Omega ratio Gain probability vs. loss probability	0.95	0.81	+0.15
Calmar ratio Return relative to maximum drawdown	-0.55	-0.86	+0.31
Martin ratio Return relative to average drawdown	-0.90	-1.31	+0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EETH vs. MSTY - Sharpe Ratio Comparison

The current EETH Sharpe Ratio is -0.51, which is higher than the MSTY Sharpe Ratio of -1.02. The chart below compares the historical Sharpe Ratios of EETH 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.

Sharpe Ratios by Period

	EETH	MSTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.51	-1.02	+0.51
Sharpe Ratio (All Time) Calculated using the full available price history	-0.06	0.26	-0.32

Drawdowns

EETH vs. MSTY - Drawdown Comparison

The maximum EETH drawdown since its inception was -66.86%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for EETH and MSTY.

Drawdown Indicators

	EETH	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-66.86%	-71.79%	+4.93%
Max Drawdown (1Y) Largest decline over 1 year	-64.18%	-71.79%	+7.61%
Current Drawdown Current decline from peak	-64.18%	-66.48%	+2.30%
Average Drawdown Average peak-to-trough decline	-29.45%	-26.09%	-3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.76%	46.87%	-8.11%

Volatility

EETH vs. MSTY - Volatility Comparison

The current volatility for ProShares Ether Strategy ETF (EETH) is 9.92%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 17.01%. This indicates that EETH 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

	EETH	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.92%	17.01%	-7.09%
Volatility (6M) Calculated over the trailing 6-month period	46.21%	48.79%	-2.58%
Volatility (1Y) Calculated over the trailing 1-year period	68.81%	60.44%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.93%	71.92%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.93%	71.92%	-2.99%

EETH vs. MSTY - Expense Ratio Comparison

EETH has a 0.95% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

EETH vs. MSTY - Dividend Comparison

EETH's dividend yield for the trailing twelve months is around 89.04%, less than MSTY's 269.45% yield.

Position	TTM	2025	2024	2023
EETH ProShares Ether Strategy ETF	89.04%	56.98%	10.82%	0.52%
MSTY YieldMax™ MSTR Option Income Strategy ETF	269.45%	294.61%	104.56%	0.00%

Frequently Asked Questions

Can I hold both EETH and MSTY in my portfolio?

EETH and MSTY have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EETH or MSTY?

MSTY has higher volatility (17.01%) compared to EETH (9.92%). In terms of maximum drawdown, EETH dropped -66.86% vs MSTY's -71.79%.

Which ETF is better, EETH or MSTY?

On 1-year performance, EETH leads with -34.99% vs -61.25% for MSTY. On fees, EETH is cheaper at 0.95% per year. On volatility, EETH has been the lower-risk option at 9.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EETH or MSTY?

Over the 1-year period, EETH has performed better with a -34.99% return vs -61.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EETH or MSTY?

EETH is cheaper with a 0.95% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 269.45%, compared with 89.04% for EETH.

What is the main difference between EETH and MSTY?

EETH is categorized as Cryptocurrency, while MSTY is Derivative Income. They also come from different issuers: ProShares and YieldMax. Their fees differ too: 0.95% for EETH and 0.99% for MSTY.

Which has better risk-adjusted returns?

EETH currently has the higher Sharpe Ratio (-0.51 vs -1.02), 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.