GLD vs. MSTY

Last updated Jun 24, 2026

GLD (SPDR Gold Shares) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - GLD is a Gold fund tracking the LBMA Gold Price PM, while MSTY is a Derivative Income fund actively managed by YieldMax. GLD is passively managed, while MSTY is actively managed. Over the past year, GLD returned 21.29% vs -66.58% for MSTY. At a 0.17 correlation, their price movements are largely independent. GLD charges 0.40%/yr vs 0.99%/yr for MSTY.

Performance

GLD vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Gold Shares (GLD) 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, GLD achieves a -4.79% return, which is significantly higher than MSTY's -27.80% return.

GLD

• 1D: -1.89%
• 1M: -8.82%
• YTD: -4.79%
• 6M: -8.78%
• 1Y: 21.29%
• 3Y*: 28.41%
• 5Y*: 17.84%
• 10Y*: 11.59%

MSTY

• 1D: -4.55%
• 1M: -31.74%
• YTD: -27.80%
• 6M: -29.80%
• 1Y: -66.58%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GLD vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GLD SPDR Gold Shares	-4.79%	63.68%	29.15%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-27.80%	-42.71%	212.16%

Correlation

The correlation between GLD and MSTY is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.17

Return for Risk

GLD vs. MSTY — Risk / Return Rank

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

GLD

GLD Risk / Return Rank: 22
GLD Sharpe Ratio Rank: 23
GLD Sortino Ratio Rank: 21
GLD Omega Ratio Rank: 24
GLD Calmar Ratio Rank: 20
GLD Martin Ratio Rank: 20

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: 1
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.

GLD vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Gold Shares (GLD) 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.

	GLD	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.78	-1.08	+1.85
Sortino ratio: Return per unit of downside risk	1.13	-1.96	+3.09
Omega ratio: Gain probability vs. loss probability	1.17	0.79	+0.38
Calmar ratio: Return relative to maximum drawdown	0.87	-0.93	+1.80
Martin ratio: Return relative to average drawdown	2.35	-1.35	+3.70

GLD vs. MSTY - Sharpe Ratio Comparison

The current GLD Sharpe Ratio is 0.78, which is higher than the MSTY Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of GLD 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

GLD vs. MSTY - Drawdown Comparison

The maximum GLD drawdown since its inception was -45.56%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for GLD and MSTY.

Drawdown Indicators

	GLD	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-71.79%	+26.23%
Max Drawdown (1Y) Largest decline over 1 year	-24.46%	-71.79%	+47.33%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.46%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.46%	—	—
Current Drawdown Current decline from peak	-23.91%	-71.62%	+47.71%
Average Drawdown Average peak-to-trough decline	-16.17%	-26.97%	+10.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.10%	49.36%	-40.26%

Volatility

GLD vs. MSTY - Volatility Comparison

The current volatility for SPDR Gold Shares (GLD) is 8.18%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.32%. This indicates that GLD 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

	GLD	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.18%	19.32%	-11.14%
Volatility (6M) Calculated over the trailing 6-month period	24.38%	49.66%	-25.28%
Volatility (1Y) Calculated over the trailing 1-year period	27.57%	62.02%	-34.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.24%	71.82%	-53.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.04%	71.82%	-55.78%

GLD vs. MSTY - Expense Ratio Comparison

GLD has a 0.40% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

GLD vs. MSTY - Dividend Comparison

GLD has not paid dividends to shareholders, while MSTY's dividend yield for the trailing twelve months is around 286.06%.

Position	TTM	2025	2024
GLD SPDR Gold Shares	0.00%	0.00%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	286.06%	294.61%	104.56%

Frequently Asked Questions

Can I hold both GLD and MSTY in my portfolio?

GLD and MSTY have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLD or MSTY?

MSTY has higher volatility (19.32%) compared to GLD (8.18%). In terms of maximum drawdown, GLD dropped -45.56% vs MSTY's -71.79%.

Which ETF is better, GLD or MSTY?

On 1-year performance, GLD leads with 21.29% vs -66.58% for MSTY. On fees, GLD is cheaper at 0.40% per year. On volatility, GLD has been the lower-risk option at 8.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLD or MSTY?

Over the 1-year period, GLD has performed better with a 21.29% return vs -66.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLD or MSTY?

GLD is cheaper with a 0.40% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 286.06%, compared with 0.00% for GLD.

What is the main difference between GLD and MSTY?

GLD is categorized as Gold, while MSTY is Derivative Income. They also come from different issuers: State Street and YieldMax. Their fees differ too: 0.40% for GLD and 0.99% for MSTY.

Which has better risk-adjusted returns?

GLD currently has the higher Sharpe Ratio (0.78 vs -1.08), 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.