IBIT vs. MSTY

Last updated Jun 24, 2026

IBIT (iShares Bitcoin Trust ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both exchange-traded funds - IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant, while MSTY is a Derivative Income fund actively managed by YieldMax. IBIT is passively managed, while MSTY is actively managed. Over the past year, IBIT returned -39.82% vs -66.58% for MSTY. A 0.77 correlation means they provide meaningful diversification when combined. IBIT charges 0.25%/yr vs 0.99%/yr for MSTY.

Performance

IBIT vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Bitcoin Trust ETF (IBIT) and YieldMax™ MSTR Option Income Strategy ETF (MSTY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with IBIT having a -28.88% return and MSTY slightly higher at -27.80%.

IBIT

• 1D: -3.26%
• 1M: -17.81%
• YTD: -28.88%
• 6M: -28.88%
• 1Y: -39.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

IBIT vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBIT iShares Bitcoin Trust ETF	-28.88%	-6.41%	82.43%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-27.80%	-42.71%	212.16%

Correlation

The correlation between IBIT and MSTY is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.77

The correlation between IBIT and MSTY has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

IBIT vs. MSTY — Risk / Return Rank

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

IBIT

IBIT Risk / Return Rank: 2
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 2
IBIT Omega Ratio Rank: 2
IBIT Calmar Ratio Rank: 2
IBIT Martin Ratio Rank: 2

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.

IBIT vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Bitcoin Trust ETF (IBIT) 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.

	IBIT	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	-0.90	-1.08	+0.17
Sortino ratio: Return per unit of downside risk	-1.25	-1.96	+0.71
Omega ratio: Gain probability vs. loss probability	0.86	0.79	+0.07
Calmar ratio: Return relative to maximum drawdown	-0.77	-0.93	+0.16
Martin ratio: Return relative to average drawdown	-1.30	-1.35	+0.05

IBIT vs. MSTY - Sharpe Ratio Comparison

The current IBIT Sharpe Ratio is -0.90, which is comparable to the MSTY Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of IBIT 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

IBIT vs. MSTY - Drawdown Comparison

The maximum IBIT drawdown since its inception was -52.11%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for IBIT and MSTY.

Drawdown Indicators

	IBIT	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-52.11%	-71.79%	+19.68%
Max Drawdown (1Y) Largest decline over 1 year	-52.11%	-71.79%	+19.68%
Current Drawdown Current decline from peak	-50.47%	-71.62%	+21.15%
Average Drawdown Average peak-to-trough decline	-16.85%	-26.97%	+10.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.58%	49.36%	-18.78%

Volatility

IBIT vs. MSTY - Volatility Comparison

The current volatility for iShares Bitcoin Trust ETF (IBIT) is 13.18%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.32%. This indicates that IBIT 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

	IBIT	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.18%	19.32%	-6.14%
Volatility (6M) Calculated over the trailing 6-month period	34.64%	49.66%	-15.02%
Volatility (1Y) Calculated over the trailing 1-year period	44.31%	62.02%	-17.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.22%	71.82%	-21.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.22%	71.82%	-21.60%

IBIT vs. MSTY - Expense Ratio Comparison

IBIT has a 0.25% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

IBIT vs. MSTY - Dividend Comparison

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

Position	TTM	2025	2024
IBIT iShares Bitcoin Trust ETF	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 IBIT and MSTY in my portfolio?

IBIT and MSTY have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIT or MSTY?

MSTY has higher volatility (19.32%) compared to IBIT (13.18%). In terms of maximum drawdown, IBIT dropped -52.11% vs MSTY's -71.79%.

Which ETF is better, IBIT or MSTY?

On 1-year performance, IBIT leads with -39.82% vs -66.58% for MSTY. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 13.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIT or MSTY?

Over the 1-year period, IBIT has performed better with a -39.82% return vs -66.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIT or MSTY?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.99% for MSTY.

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

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

What is the main difference between IBIT and MSTY?

IBIT is categorized as Cryptocurrency, while MSTY is Derivative Income. They also come from different issuers: iShares and YieldMax. Their fees differ too: 0.25% for IBIT and 0.99% for MSTY.

Which has better risk-adjusted returns?

IBIT currently has the higher Sharpe Ratio (-0.90 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.