GDXY vs. MSTY

Last updated Aug 2, 2026

GDXY (YieldMax Gold Miners Option Income Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - GDXY is a Gold fund actively managed by YieldMax, while MSTY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, GDXY returned 13.14% vs -68.40% for MSTY. Their 0.26 correlation means their historical movements had little consistent relationship. GDXY charges 1.08%/yr vs 0.99%/yr for MSTY.

Performance

GDXY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Gold Miners Option Income Strategy ETF (GDXY) 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, GDXY achieves a -18.85% return, which is significantly higher than MSTY's -33.29% return.

GDXY

• 1D: -2.75%
• 1M: -3.94%
• 6M: -22.61%
• YTD: -18.85%
• 1Y: 13.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.49%

MSTY

• 1D: -2.60%
• 1M: -2.63%
• 6M: -31.98%
• YTD: -33.29%
• 1Y: -68.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GDXY YieldMax Gold Miners Option Income Strategy ETF	$4.52M	$4.39M	$7.85M
MSTY YieldMax™ MSTR Option Income Strategy ETF	$12.71M	$13.42M	$28.94M

GDXY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	-18.85%	88.08%	-11.84%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-33.29%	-42.71%	49.96%

Correlation

The correlation between GDXY and MSTY is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (All Time) Calculated using the full available price history since May 21, 2024	0.26

Return for Risk

GDXY vs. MSTY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GDXY

GDXY Risk / Return Rank: 19
GDXY Sharpe Ratio Rank: 19
GDXY Sortino Ratio Rank: 20
GDXY Omega Ratio Rank: 22
GDXY Calmar Ratio Rank: 18
GDXY Martin Ratio Rank: 17

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 1
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GDXY vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Gold Miners Option Income Strategy ETF (GDXY) 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.

	GDXY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.37	-1.09	+1.46
Sortino ratio: Return per unit of downside risk	0.70	-2.13	+2.84
Omega ratio: Gain probability vs. loss probability	1.10	0.77	+0.32
Calmar ratio: Return relative to maximum drawdown	0.39	-0.95	+1.34
Martin ratio: Return relative to average drawdown	0.85	-1.40	+2.25

GDXY vs. MSTY - Sharpe Ratio Comparison

The current GDXY Sharpe Ratio is 0.37, which is higher than the MSTY Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of GDXY 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.

Drawdowns

GDXY vs. MSTY - Drawdown Comparison

The maximum GDXY drawdown since its inception was -36.99%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for GDXY and MSTY.

Drawdown Indicators

	GDXY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-36.99%	-77.40%	+40.41%
Max Drawdown (1Y) Largest decline over 1 year	-36.99%	-74.91%	+37.92%
Current Drawdown Current decline from peak	-34.85%	-73.77%	+38.92%
Average Drawdown Average peak-to-trough decline	-8.31%	-29.05%	+20.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.02%	50.99%	-33.97%

Volatility

GDXY vs. MSTY - Volatility Comparison

The current volatility for YieldMax Gold Miners Option Income Strategy ETF (GDXY) is 9.85%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 14.46%. This indicates that GDXY 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

	GDXY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	14.46%	-4.61%
Volatility (6M) Calculated over the trailing 6-month period	33.12%	52.28%	-19.16%
Volatility (1Y) Calculated over the trailing 1-year period	39.36%	65.31%	-25.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.57%	71.91%	-39.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.57%	71.91%	-39.34%

GDXY vs. MSTY - Expense Ratio Comparison

GDXY has a 1.08% expense ratio, which is higher than MSTY's 0.99% expense ratio.

Dividends

GDXY vs. MSTY - Dividend Comparison

GDXY's dividend yield for the trailing twelve months is around 88.00%, less than MSTY's 251.54% yield.

Position	TTM	2025	2024
GDXY YieldMax Gold Miners Option Income Strategy ETF	88.00%	52.13%	23.91%
MSTY YieldMax™ MSTR Option Income Strategy ETF	251.54%	294.61%	104.56%

Frequently Asked Questions

Can I hold both GDXY and MSTY in my portfolio?

GDXY and MSTY 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 is riskier, GDXY or MSTY?

MSTY has higher volatility (14.46%) compared to GDXY (9.85%). In terms of maximum drawdown, GDXY dropped -36.99% vs MSTY's -77.40%.

Which ETF is better, GDXY or MSTY?

On 1-year performance, GDXY leads with 13.14% vs -68.40% for MSTY. On fees, MSTY is cheaper at 0.99% per year. On volatility, GDXY has been the lower-risk option at 9.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDXY or MSTY?

Over the 1-year period, GDXY has performed better with a 13.14% return vs -68.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDXY or MSTY?

MSTY is cheaper with a 0.99% expense ratio, compared with 1.08% for GDXY.

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

MSTY has the higher dividend yield at 251.54%, compared with 88.00% for GDXY.

What is the main difference between GDXY and MSTY?

GDXY is categorized as Gold, while MSTY is Derivative Income. Their fees differ too: 1.08% for GDXY and 0.99% for MSTY.

Which has better risk-adjusted returns?

GDXY currently has the higher Sharpe Ratio (0.37 vs -1.09), 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.