MARO vs. MARA

Last updated Jun 3, 2026

MARO (YieldMax MARA Option Income Strategy ETF) is Derivative Income fund actively managed by YieldMax, while MARA (Marathon Digital Holdings, Inc.) is a stock. Over the past year, MARO returned -20.97% vs -0.56% for MARA. With a 0.97 correlation, they move nearly in lockstep.

Performance

MARO vs. MARA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MARA Option Income Strategy ETF (MARO) and Marathon Digital Holdings, Inc. (MARA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARO achieves a 30.77% return, which is significantly lower than MARA's 59.02% return.

MARO

• 1D: -1.84%
• 1M: 17.99%
• YTD: 30.77%
• 6M: 5.26%
• 1Y: -20.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MARA

• 1D: -3.84%
• 1M: 24.61%
• YTD: 59.02%
• 6M: 19.90%
• 1Y: -0.56%
• 3Y*: 12.50%
• 5Y*: -9.70%
• 10Y*: -10.71%

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

MARO vs. MARA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MARO YieldMax MARA Option Income Strategy ETF	30.77%	-48.05%	-19.61%
MARA Marathon Digital Holdings, Inc.	59.02%	-46.45%	-26.46%

Correlation

The correlation between MARO and MARA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 11, 2024	0.97

The correlation between MARO and MARA has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

MARO vs. MARA — Risk / Return Rank

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

MARO

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

MARA

MARA Risk / Return Rank: 41
MARA Sharpe Ratio Rank: 40
MARA Sortino Ratio Rank: 43
MARA Omega Ratio Rank: 41
MARA Calmar Ratio Rank: 40
MARA Martin Ratio Rank: 40

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.

MARO vs. MARA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MARA Option Income Strategy ETF (MARO) and Marathon Digital Holdings, Inc. (MARA). 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.

	MARO	MARA	Difference
Sharpe ratio Return per unit of total volatility	-0.34	-0.01	-0.34
Sortino ratio Return per unit of downside risk	-0.11	0.57	-0.68
Omega ratio Gain probability vs. loss probability	0.99	1.07	-0.08
Calmar ratio Return relative to maximum drawdown	-0.30	0.02	-0.31
Martin ratio Return relative to average drawdown	-0.51	0.03	-0.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARO vs. MARA - Sharpe Ratio Comparison

The current MARO Sharpe Ratio is -0.34, which is lower than the MARA Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of MARO and MARA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MARO	MARA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.34	-0.01	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.09	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.52	-0.09	-0.43

Drawdowns

MARO vs. MARA - Drawdown Comparison

The maximum MARO drawdown since its inception was -71.75%, smaller than the maximum MARA drawdown of -99.74%. Use the drawdown chart below to compare losses from any high point for MARO and MARA.

Drawdown Indicators

	MARO	MARA	Difference
Max Drawdown Largest peak-to-trough decline	-71.75%	-99.74%	+27.99%
Max Drawdown (1Y) Largest decline over 1 year	-65.51%	-70.53%	+5.02%
Max Drawdown (3Y) Largest decline over 3 years	—	-78.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-95.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-99.20%	—
Current Drawdown Current decline from peak	-50.17%	-90.77%	+40.60%
Average Drawdown Average peak-to-trough decline	-41.95%	-77.99%	+36.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.49%	41.96%	-3.47%

Volatility

MARO vs. MARA - Volatility Comparison

The current volatility for YieldMax MARA Option Income Strategy ETF (MARO) is 11.33%, while Marathon Digital Holdings, Inc. (MARA) has a volatility of 16.16%. This indicates that MARO experiences smaller price fluctuations and is considered to be less risky than MARA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARO	MARA	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.33%	16.16%	-4.83%
Volatility (6M) Calculated over the trailing 6-month period	46.34%	58.00%	-11.66%
Volatility (1Y) Calculated over the trailing 1-year period	61.48%	77.63%	-16.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.22%	105.81%	-40.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.22%	144.09%	-78.87%

Dividends

MARO vs. MARA - Dividend Comparison

MARO's dividend yield for the trailing twelve months is around 179.92%, while MARA has not paid dividends to shareholders.

Position	TTM	2025
MARA Marathon Digital Holdings, Inc.	0.00%	0.00%
MARO YieldMax MARA Option Income Strategy ETF	179.92%	277.68%

Frequently Asked Questions

Can I hold both MARO and MARA in my portfolio?

With a correlation of 0.97, MARO and MARA move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MARO or MARA?

MARA has higher volatility (16.16%) compared to MARO (11.33%). In terms of maximum drawdown, MARO dropped -71.75% vs MARA's -99.74%.

Which has better risk-adjusted returns?

MARA currently has the higher Sharpe Ratio (-0.01 vs -0.34), 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.