MRNY vs. AMDY

Last updated Aug 5, 2026

MRNY (YieldMax MRNA Option Income Strategy ETF) and AMDY (YieldMax AMD Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, MRNY returned 66.65% vs 148.62% for AMDY. Their 0.25 correlation means their historical movements had little consistent relationship. MRNY charges 0.99%/yr vs 1.23%/yr for AMDY.

Performance

MRNY vs. AMDY - Performance Comparison

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

Returns By Period

In the year-to-date period, MRNY achieves a 67.49% return, which is significantly lower than AMDY's 105.10% return.

MRNY

• 1D: 2.95%
• 1M: -23.09%
• 6M: 24.37%
• YTD: 67.49%
• 1Y: 66.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -21.08%

AMDY

• 1D: 7.78%
• 1M: 0.15%
• 6M: 93.68%
• YTD: 105.10%
• 1Y: 148.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 51.48%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMDY YieldMax AMD Option Income Strategy ETF	$19.08M	$22.79M	$23.28M
MRNY YieldMax MRNA Option Income Strategy ETF	$2.18M	$3.51M	$3.17M

MRNY vs. AMDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	67.49%	-35.72%	-59.32%	18.27%
AMDY YieldMax AMD Option Income Strategy ETF	105.10%	53.93%	-17.00%	32.00%

Correlation

The correlation between MRNY and AMDY is 0.25, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.25
Correlation (All Time) Calculated using the full available price history since Oct 24, 2023	0.25

Return for Risk

MRNY vs. AMDY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MRNY

MRNY Risk / Return Rank: 50
MRNY Sharpe Ratio Rank: 45
MRNY Sortino Ratio Rank: 50
MRNY Omega Ratio Rank: 46
MRNY Calmar Ratio Rank: 58
MRNY Martin Ratio Rank: 52

AMDY

AMDY Risk / Return Rank: 87
AMDY Sharpe Ratio Rank: 91
AMDY Sortino Ratio Rank: 84
AMDY Omega Ratio Rank: 84
AMDY Calmar Ratio Rank: 94
AMDY Martin Ratio Rank: 80

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MRNY vs. AMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and YieldMax AMD Option Income Strategy ETF (AMDY). 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.

	MRNY	AMDY	Difference
Sharpe ratio: Return per unit of total volatility	1.27	2.48	-1.20
Sortino ratio: Return per unit of downside risk	2.02	3.02	-1.00
Omega ratio: Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio: Return relative to maximum drawdown	2.32	5.42	-3.10
Martin ratio: Return relative to average drawdown	6.66	11.70	-5.04

MRNY vs. AMDY - Sharpe Ratio Comparison

The current MRNY Sharpe Ratio is 1.27, which is lower than the AMDY Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of MRNY and AMDY, 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

MRNY vs. AMDY - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than AMDY's maximum drawdown of -53.92%. Use the drawdown chart below to compare losses from any high point for MRNY and AMDY.

Drawdown Indicators

	MRNY	AMDY	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-53.92%	-28.23%
Max Drawdown (1Y) Largest decline over 1 year	-28.84%	-27.59%	-1.25%
Current Drawdown Current decline from peak	-64.74%	-7.88%	-56.86%
Average Drawdown Average peak-to-trough decline	-53.22%	-17.38%	-35.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.03%	12.76%	-2.73%

Volatility

MRNY vs. AMDY - Volatility Comparison

The current volatility for YieldMax MRNA Option Income Strategy ETF (MRNY) is 15.84%, while YieldMax AMD Option Income Strategy ETF (AMDY) has a volatility of 22.16%. This indicates that MRNY experiences smaller price fluctuations and is considered to be less risky than AMDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRNY	AMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.84%	22.16%	-6.32%
Volatility (6M) Calculated over the trailing 6-month period	36.23%	48.49%	-12.26%
Volatility (1Y) Calculated over the trailing 1-year period	52.67%	60.44%	-7.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.51%	48.21%	+3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.51%	48.21%	+3.30%

MRNY vs. AMDY - Expense Ratio Comparison

MRNY has a 0.99% expense ratio, which is lower than AMDY's 1.23% expense ratio.

Dividends

MRNY vs. AMDY - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 97.50%, more than AMDY's 70.16% yield.

Position	TTM	2025	2024	2023
AMDY YieldMax AMD Option Income Strategy ETF	70.16%	80.68%	109.98%	6.68%
MRNY YieldMax MRNA Option Income Strategy ETF	97.50%	145.98%	178.49%	1.75%

Frequently Asked Questions

Can I hold both MRNY and AMDY in my portfolio?

MRNY and AMDY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MRNY or AMDY?

AMDY has higher volatility (22.16%) compared to MRNY (15.84%). In terms of maximum drawdown, MRNY dropped -82.15% vs AMDY's -53.92%.

Which ETF is better, MRNY or AMDY?

On 1-year performance, AMDY leads with 148.62% vs 66.65% for MRNY. On fees, MRNY is cheaper at 0.99% per year. On volatility, MRNY has been the lower-risk option at 15.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRNY or AMDY?

Over the 1-year period, AMDY has performed better with a 148.62% return vs 66.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRNY or AMDY?

MRNY is cheaper with a 0.99% expense ratio, compared with 1.23% for AMDY.

Which ETF pays a higher dividend yield, MRNY or AMDY?

MRNY has the higher dividend yield at 97.50%, compared with 70.16% for AMDY.

What is the main difference between MRNY and AMDY?

Their fees differ too: 0.99% for MRNY and 1.23% for AMDY.

Which has better risk-adjusted returns?

AMDY currently has the higher Sharpe Ratio (2.48 vs 1.27), 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.