HOOY vs. MSTY

Last updated Aug 2, 2026

HOOY (YieldMax HOOD 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, HOOY returned -16.31% vs -68.40% for MSTY. Their 0.58 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.99% expense ratio.

Performance

HOOY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax HOOD Option Income Strategy ETF (HOOY) 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, HOOY achieves a -19.12% return, which is significantly higher than MSTY's -33.29% return.

HOOY

• 1D: 0.65%
• 1M: -19.02%
• 6M: -10.75%
• YTD: -19.12%
• 1Y: -16.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.96%

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)
HOOY YieldMax HOOD Option Income Strategy ETF	$4.48M	$4.88M	$3.99M
MSTY YieldMax™ MSTR Option Income Strategy ETF	$12.71M	$13.42M	$28.94M

HOOY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025
HOOY YieldMax HOOD Option Income Strategy ETF	-19.12%	67.41%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-33.29%	-55.17%

Correlation

The correlation between HOOY and MSTY is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.61
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.59

The correlation between HOOY and MSTY has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

HOOY vs. MSTY — Risk / Return Rank

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

HOOY

HOOY Risk / Return Rank: 7
HOOY Sharpe Ratio Rank: 6
HOOY Sortino Ratio Rank: 8
HOOY Omega Ratio Rank: 8
HOOY Calmar Ratio Rank: 6
HOOY Martin Ratio Rank: 7

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.

HOOY vs. MSTY - Risk-Adjusted Trends Comparison

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

	HOOY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	-1.09	+0.75
Sortino ratio: Return per unit of downside risk	-0.12	-2.13	+2.01
Omega ratio: Gain probability vs. loss probability	0.99	0.77	+0.21
Calmar ratio: Return relative to maximum drawdown	-0.37	-0.95	+0.58
Martin ratio: Return relative to average drawdown	-0.62	-1.40	+0.78

HOOY vs. MSTY - Sharpe Ratio Comparison

The current HOOY Sharpe Ratio is -0.34, which is higher than the MSTY Sharpe Ratio of -1.09. The chart below compares the historical Sharpe Ratios of HOOY 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

HOOY vs. MSTY - Drawdown Comparison

The maximum HOOY drawdown since its inception was -51.54%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for HOOY and MSTY.

Drawdown Indicators

	HOOY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-51.54%	-77.40%	+25.86%
Max Drawdown (1Y) Largest decline over 1 year	-51.54%	-74.91%	+23.37%
Current Drawdown Current decline from peak	-39.73%	-73.77%	+34.04%
Average Drawdown Average peak-to-trough decline	-21.58%	-29.05%	+7.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.95%	50.99%	-20.04%

Volatility

HOOY vs. MSTY - Volatility Comparison

YieldMax HOOD Option Income Strategy ETF (HOOY) has a higher volatility of 15.19% compared to YieldMax™ MSTR Option Income Strategy ETF (MSTY) at 14.46%. This indicates that HOOY's price experiences larger fluctuations and is considered to be riskier than MSTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOOY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.19%	14.46%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	44.44%	52.28%	-7.84%
Volatility (1Y) Calculated over the trailing 1-year period	57.14%	65.31%	-8.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.58%	71.91%	-17.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.58%	71.91%	-17.33%

HOOY vs. MSTY - Expense Ratio Comparison

Both HOOY and MSTY have an expense ratio of 0.99%.

Dividends

HOOY vs. MSTY - Dividend Comparison

HOOY's dividend yield for the trailing twelve months is around 148.68%, less than MSTY's 251.54% yield.

Position	TTM	2025	2024
HOOY YieldMax HOOD Option Income Strategy ETF	148.68%	82.87%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	251.54%	294.61%	104.56%

Frequently Asked Questions

Can I hold both HOOY and MSTY in my portfolio?

HOOY and MSTY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOOY or MSTY?

HOOY has higher volatility (15.19%) compared to MSTY (14.46%). In terms of maximum drawdown, HOOY dropped -51.54% vs MSTY's -77.40%.

Which ETF is better, HOOY or MSTY?

On 1-year performance, HOOY leads with -16.31% vs -68.40% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, MSTY has been the lower-risk option at 14.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOOY or MSTY?

Over the 1-year period, HOOY has performed better with a -16.31% return vs -68.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOOY or MSTY?

HOOY and MSTY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 251.54%, compared with 148.68% for HOOY.

Which has better risk-adjusted returns?

HOOY currently has the higher Sharpe Ratio (-0.34 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.