IAUI vs. MSTY

Last updated Jul 17, 2026

IAUI (NEOS Gold High Income ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds. Both are actively managed. Over the past year, IAUI returned 10.20% vs -74.10% for MSTY. At a 0.26 correlation, their price movements are largely independent. IAUI charges 0.78%/yr vs 0.99%/yr for MSTY.

Performance

IAUI vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Gold High Income ETF (IAUI) 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, IAUI achieves a -8.32% return, which is significantly higher than MSTY's -34.11% return.

IAUI

• 1D: -1.84%
• 1M: -7.87%
• 6M: -13.00%
• YTD: -8.32%
• 1Y: 10.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -2.79%
• 1M: -21.10%
• 6M: -40.36%
• YTD: -34.11%
• 1Y: -74.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IAUI vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025
IAUI NEOS Gold High Income ETF	-8.32%	20.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-34.11%	-54.05%

Correlation

The correlation between IAUI and MSTY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.26

Return for Risk

IAUI vs. MSTY — Risk / Return Rank

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

IAUI

IAUI Risk / Return Rank: 17
IAUI Sharpe Ratio Rank: 18
IAUI Sortino Ratio Rank: 17
IAUI Omega Ratio Rank: 19
IAUI Calmar Ratio Rank: 16
IAUI Martin Ratio Rank: 16

MSTY

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

IAUI vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Gold High Income ETF (IAUI) 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.

	IAUI	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	0.47	-1.15	+1.62
Sortino ratio: Return per unit of downside risk	0.75	-2.37	+3.12
Omega ratio: Gain probability vs. loss probability	1.11	0.75	+0.36
Calmar ratio: Return relative to maximum drawdown	0.46	-0.96	+1.41
Martin ratio: Return relative to average drawdown	1.18	-1.40	+2.58

IAUI vs. MSTY - Sharpe Ratio Comparison

The current IAUI Sharpe Ratio is 0.47, which is higher than the MSTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of IAUI 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

IAUI vs. MSTY - Drawdown Comparison

The maximum IAUI drawdown since its inception was -22.50%, smaller than the maximum MSTY drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for IAUI and MSTY.

Drawdown Indicators

	IAUI	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-22.50%	-77.40%	+54.90%
Max Drawdown (1Y) Largest decline over 1 year	-22.50%	-77.37%	+54.87%
Current Drawdown Current decline from peak	-22.25%	-74.10%	+51.85%
Average Drawdown Average peak-to-trough decline	-5.09%	-28.24%	+23.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.67%	52.80%	-44.13%

Volatility

IAUI vs. MSTY - Volatility Comparison

The current volatility for NEOS Gold High Income ETF (IAUI) is 6.31%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 23.12%. This indicates that IAUI 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

	IAUI	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.31%	23.12%	-16.81%
Volatility (6M) Calculated over the trailing 6-month period	20.01%	52.77%	-32.76%
Volatility (1Y) Calculated over the trailing 1-year period	21.90%	64.70%	-42.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.09%	72.23%	-51.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	72.23%	-51.14%

IAUI vs. MSTY - Expense Ratio Comparison

IAUI has a 0.78% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

IAUI vs. MSTY - Dividend Comparison

IAUI's dividend yield for the trailing twelve months is around 14.15%, less than MSTY's 289.23% yield.

Position	TTM	2025	2024
IAUI NEOS Gold High Income ETF	14.15%	6.88%	0.00%
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.23%	294.61%	104.56%

Frequently Asked Questions

Can I hold both IAUI and MSTY in my portfolio?

IAUI and MSTY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IAUI or MSTY?

MSTY has higher volatility (23.12%) compared to IAUI (6.31%). In terms of maximum drawdown, IAUI dropped -22.50% vs MSTY's -77.40%.

Which ETF is better, IAUI or MSTY?

On 1-year performance, IAUI leads with 10.20% vs -74.10% for MSTY. On fees, IAUI is cheaper at 0.78% per year. On volatility, IAUI has been the lower-risk option at 6.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IAUI or MSTY?

Over the 1-year period, IAUI has performed better with a 10.20% return vs -74.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IAUI or MSTY?

IAUI is cheaper with a 0.78% expense ratio, compared with 0.99% for MSTY.

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

MSTY has the higher dividend yield at 289.23%, compared with 14.15% for IAUI.

What is the main difference between IAUI and MSTY?

They also come from different issuers: Neos and YieldMax. Their fees differ too: 0.78% for IAUI and 0.99% for MSTY.

Which has better risk-adjusted returns?

IAUI currently has the higher Sharpe Ratio (0.47 vs -1.15), 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.