MDFGX vs. MSTY

Last updated Jun 24, 2026

MDFGX (BlackRock Capital Appreciation Fund) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both funds - MDFGX is a Large Cap Growth Equities fund managed by BlackRock, while MSTY is a Derivative Income fund actively managed by YieldMax. Over the past year, MDFGX returned 21.84% vs -66.58% for MSTY. At a 0.46 correlation, their price movements are largely independent. MDFGX charges 0.97%/yr vs 0.99%/yr for MSTY.

Performance

MDFGX vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Capital Appreciation Fund (MDFGX) 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, MDFGX achieves a 10.66% return, which is significantly higher than MSTY's -27.80% return.

MDFGX

• 1D: -0.70%
• 1M: 0.10%
• YTD: 10.66%
• 6M: 9.16%
• 1Y: 21.84%
• 3Y*: 23.22%
• 5Y*: 10.35%
• 10Y*: 17.20%

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)

MDFGX vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDFGX BlackRock Capital Appreciation Fund	10.66%	12.63%	22.51%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-27.80%	-42.71%	212.16%

Correlation

The correlation between MDFGX and MSTY is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.46

The correlation between MDFGX and MSTY has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

Return for Risk

MDFGX vs. MSTY — Risk / Return Rank

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

MDFGX

MDFGX Risk / Return Rank: 20
MDFGX Sharpe Ratio Rank: 23
MDFGX Sortino Ratio Rank: 20
MDFGX Omega Ratio Rank: 22
MDFGX Calmar Ratio Rank: 17
MDFGX Martin Ratio Rank: 20

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.

MDFGX vs. MSTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Capital Appreciation Fund (MDFGX) 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.

	MDFGX	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.27	-1.08	+2.35
Sortino ratio: Return per unit of downside risk	1.75	-1.96	+3.72
Omega ratio: Gain probability vs. loss probability	1.23	0.79	+0.44
Calmar ratio: Return relative to maximum drawdown	1.40	-0.93	+2.33
Martin ratio: Return relative to average drawdown	4.64	-1.35	+5.99

MDFGX vs. MSTY - Sharpe Ratio Comparison

The current MDFGX Sharpe Ratio is 1.27, which is higher than the MSTY Sharpe Ratio of -1.08. The chart below compares the historical Sharpe Ratios of MDFGX 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

MDFGX vs. MSTY - Drawdown Comparison

The maximum MDFGX drawdown since its inception was -47.99%, smaller than the maximum MSTY drawdown of -71.79%. Use the drawdown chart below to compare losses from any high point for MDFGX and MSTY.

Drawdown Indicators

	MDFGX	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-47.99%	-71.79%	+23.80%
Max Drawdown (1Y) Largest decline over 1 year	-16.74%	-71.79%	+55.05%
Max Drawdown (3Y) Largest decline over 3 years	-24.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.49%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.49%	—	—
Current Drawdown Current decline from peak	-4.30%	-71.62%	+67.32%
Average Drawdown Average peak-to-trough decline	-11.21%	-26.97%	+15.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	49.36%	-44.33%

Volatility

MDFGX vs. MSTY - Volatility Comparison

The current volatility for BlackRock Capital Appreciation Fund (MDFGX) is 7.19%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 19.32%. This indicates that MDFGX 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

	MDFGX	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	19.32%	-12.13%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	49.66%	-35.10%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	62.02%	-43.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.61%	71.82%	-48.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	71.82%	-49.21%

MDFGX vs. MSTY - Expense Ratio Comparison

MDFGX has a 0.97% expense ratio, which is lower than MSTY's 0.99% expense ratio.

Dividends

MDFGX vs. MSTY - Dividend Comparison

MDFGX's dividend yield for the trailing twelve months is around 17.63%, less than MSTY's 286.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDFGX BlackRock Capital Appreciation Fund	17.63%	19.51%	12.73%	3.59%	9.46%	12.95%	5.46%	10.67%	14.31%	12.51%	4.01%	11.22%
MSTY YieldMax™ MSTR Option Income Strategy ETF	286.06%	294.61%	104.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDFGX and MSTY in my portfolio?

MDFGX and MSTY have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDFGX or MSTY?

MSTY has higher volatility (19.32%) compared to MDFGX (7.19%). In terms of maximum drawdown, MDFGX dropped -47.99% vs MSTY's -71.79%.

Which has better risk-adjusted returns?

MDFGX currently has the higher Sharpe Ratio (1.27 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.