FIAT vs. MSTY
FIAT (YieldMax Short COIN Option Income Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, FIAT returned -0.18% vs -61.25% for MSTY. At a correlation of -0.71, they often move in opposite directions. Both charge a 0.99% expense ratio.
Performance
FIAT vs. MSTY - Performance Comparison
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Returns By Period
In the year-to-date period, FIAT achieves a 13.84% return, which is significantly higher than MSTY's -14.73% return.
FIAT
- 1D
- 4.32%
- 1M
- 16.99%
- YTD
- 13.84%
- 6M
- 33.71%
- 1Y
- -0.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTY
- 1D
- -6.76%
- 1M
- -28.46%
- YTD
- -14.73%
- 6M
- -26.86%
- 1Y
- -61.25%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FIAT vs. MSTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 13.84% | -24.17% | -28.61% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | -14.73% | -42.71% | 74.61% |
Correlation
The correlation between FIAT and MSTY is -0.75, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.75 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024 | -0.71 |
The correlation between FIAT and MSTY has been stable across timeframes, ranging from -0.75 to -0.71 - a consistent structural relationship.
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Return for Risk
FIAT vs. MSTY — Risk / Return Rank
FIAT
MSTY
FIAT vs. MSTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax Short COIN Option Income Strategy ETF (FIAT) 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.
| FIAT | MSTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.81 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | -0.86 | +0.85 |
| Martin ratioReturn relative to average drawdown | -0.01 | -1.31 | +1.30 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIAT | MSTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | -1.02 | +1.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.37 | 0.26 | -0.63 |
Drawdowns
FIAT vs. MSTY - Drawdown Comparison
The maximum FIAT drawdown since its inception was -70.50%, roughly equal to the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for FIAT and MSTY.
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Drawdown Indicators
| FIAT | MSTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.50% | -71.79% | +1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -42.26% | -71.79% | +29.53% |
Current DrawdownCurrent decline from peak | -50.94% | -66.48% | +15.54% |
Average DrawdownAverage peak-to-trough decline | -45.35% | -26.09% | -19.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 27.32% | 46.87% | -19.55% |
Volatility
FIAT vs. MSTY - Volatility Comparison
The current volatility for YieldMax Short COIN Option Income Strategy ETF (FIAT) is 15.34%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 17.01%. This indicates that FIAT 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
| FIAT | MSTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 17.01% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 42.03% | 48.79% | -6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.49% | 60.44% | -4.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.56% | 71.92% | -11.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.56% | 71.92% | -11.36% |
FIAT vs. MSTY - Expense Ratio Comparison
Both FIAT and MSTY have an expense ratio of 0.99%.
Dividends
FIAT vs. MSTY - Dividend Comparison
FIAT's dividend yield for the trailing twelve months is around 93.28%, less than MSTY's 269.45% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FIAT YieldMax Short COIN Option Income Strategy ETF | 93.28% | 178.11% | 70.99% |
MSTY YieldMax™ MSTR Option Income Strategy ETF | 269.45% | 294.61% | 104.56% |
Frequently Asked Questions
FIAT and MSTY have a correlation of -0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTY has higher volatility (17.01%) compared to FIAT (15.34%). In terms of maximum drawdown, FIAT dropped -70.50% vs MSTY's -71.79%.
On 1-year performance, FIAT leads with -0.18% vs -61.25% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, FIAT has been the lower-risk option at 15.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FIAT has performed better with a -0.18% return vs -61.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FIAT and MSTY have the same expense ratio: 0.99% per year.
MSTY has the higher dividend yield at 269.45%, compared with 93.28% for FIAT.
FIAT currently has the higher Sharpe Ratio (-0.00 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.
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