MARO vs. TSLY

Last updated Jun 26, 2026

MARO (YieldMax MARA Option Income Strategy ETF) and TSLY (YieldMax TSLA Option Income Strategy ETF) are both exchange-traded funds - MARO is a Derivative Income fund actively managed by YieldMax, while TSLY is a Options Trading fund actively managed by YieldMax. Both are actively managed. Over the past year, MARO returned -26.60% vs 19.99% for TSLY. At a 0.45 correlation, their price movements are largely independent. MARO charges 0.99%/yr vs 1.07%/yr for TSLY.

Performance

MARO vs. TSLY - Performance Comparison

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

Returns By Period

In the year-to-date period, MARO achieves a 23.97% return, which is significantly higher than TSLY's -10.44% return.

MARO

• 1D: -1.48%
• 1M: -3.95%
• YTD: 23.97%
• 6M: 15.95%
• 1Y: -26.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSLY

• 1D: -0.09%
• 1M: -10.60%
• YTD: -10.44%
• 6M: -16.11%
• 1Y: 19.99%
• 3Y*: 9.70%
• 5Y*: —
• 10Y*: —

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

MARO vs. TSLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MARO YieldMax MARA Option Income Strategy ETF	23.97%	-48.05%	-23.63%
TSLY YieldMax TSLA Option Income Strategy ETF	-10.44%	13.62%	-1.94%

Correlation

The correlation between MARO and TSLY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024	0.45

Return for Risk

MARO vs. TSLY — 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: 7

TSLY

TSLY Risk / Return Rank: 20
TSLY Sharpe Ratio Rank: 18
TSLY Sortino Ratio Rank: 19
TSLY Omega Ratio Rank: 19
TSLY Calmar Ratio Rank: 22
TSLY Martin Ratio Rank: 20

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. TSLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MARA Option Income Strategy ETF (MARO) and YieldMax TSLA Option Income Strategy ETF (TSLY). 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.

	MARO	TSLY	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	0.57	-0.99
Sortino ratio: Return per unit of downside risk	-0.26	0.98	-1.24
Omega ratio: Gain probability vs. loss probability	0.97	1.12	-0.15
Calmar ratio: Return relative to maximum drawdown	-0.41	0.93	-1.34
Martin ratio: Return relative to average drawdown	-0.67	2.20	-2.87

MARO vs. TSLY - Sharpe Ratio Comparison

The current MARO Sharpe Ratio is -0.43, which is lower than the TSLY Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of MARO and TSLY, 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

MARO vs. TSLY - Drawdown Comparison

The maximum MARO drawdown since its inception was -71.75%, which is greater than TSLY's maximum drawdown of -49.52%. Use the drawdown chart below to compare losses from any high point for MARO and TSLY.

Drawdown Indicators

	MARO	TSLY	Difference
Max Drawdown Largest peak-to-trough decline	-71.75%	-49.52%	-22.23%
Max Drawdown (1Y) Largest decline over 1 year	-65.51%	-21.64%	-43.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-49.52%	—
Current Drawdown Current decline from peak	-52.76%	-16.26%	-36.50%
Average Drawdown Average peak-to-trough decline	-42.31%	-19.86%	-22.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	39.90%	9.11%	+30.79%

Volatility

MARO vs. TSLY - Volatility Comparison

YieldMax MARA Option Income Strategy ETF (MARO) has a higher volatility of 16.43% compared to YieldMax TSLA Option Income Strategy ETF (TSLY) at 12.05%. This indicates that MARO's price experiences larger fluctuations and is considered to be riskier than TSLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MARO	TSLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.43%	12.05%	+4.38%
Volatility (6M) Calculated over the trailing 6-month period	47.16%	23.70%	+23.46%
Volatility (1Y) Calculated over the trailing 1-year period	62.56%	35.63%	+26.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	65.12%	45.47%	+19.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.12%	45.47%	+19.65%

MARO vs. TSLY - Expense Ratio Comparison

MARO has a 0.99% expense ratio, which is lower than TSLY's 1.07% expense ratio.

Dividends

MARO vs. TSLY - Dividend Comparison

MARO's dividend yield for the trailing twelve months is around 191.31%, more than TSLY's 92.69% yield.

Position	TTM	2025	2024	2023
MARO YieldMax MARA Option Income Strategy ETF	191.31%	277.68%	0.00%	0.00%
TSLY YieldMax TSLA Option Income Strategy ETF	92.69%	91.19%	82.30%	76.47%

Frequently Asked Questions

Can I hold both MARO and TSLY in my portfolio?

MARO and TSLY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARO or TSLY?

MARO has higher volatility (16.43%) compared to TSLY (12.05%). In terms of maximum drawdown, MARO dropped -71.75% vs TSLY's -49.52%.

Which ETF is better, MARO or TSLY?

On 1-year performance, TSLY leads with 19.99% vs -26.60% for MARO. On fees, MARO is cheaper at 0.99% per year. On volatility, TSLY has been the lower-risk option at 12.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MARO or TSLY?

Over the 1-year period, TSLY has performed better with a 19.99% return vs -26.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MARO or TSLY?

MARO is cheaper with a 0.99% expense ratio, compared with 1.07% for TSLY.

Which ETF pays a higher dividend yield, MARO or TSLY?

MARO has the higher dividend yield at 191.31%, compared with 92.69% for TSLY.

What is the main difference between MARO and TSLY?

MARO is categorized as Derivative Income, while TSLY is Options Trading. Their fees differ too: 0.99% for MARO and 1.07% for TSLY.

Which has better risk-adjusted returns?

TSLY currently has the higher Sharpe Ratio (0.57 vs -0.43), 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.