MRNY vs. FIYY

Last updated Jul 17, 2026

MRNY (YieldMax MRNA Option Income Strategy ETF) and FIYY (GraniteShares YieldBOOST 20Y+ Treasuries ETF) are both Derivative Income funds. Both are actively managed. At a 0.24 correlation, their price movements are largely independent. MRNY charges 0.99%/yr vs 1.07%/yr for FIYY.

Performance

MRNY vs. FIYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MRNA Option Income Strategy ETF (MRNY) and GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MRNY

• 1D: -6.67%
• 1M: 9.93%
• 6M: 42.34%
• YTD: 80.55%
• 1Y: 53.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FIYY

• 1D: 0.04%
• 1M: -0.45%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRNY vs. FIYY - Yearly Performance Comparison

	2026 (YTD)
MRNY YieldMax MRNA Option Income Strategy ETF	24.15%
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	-1.79%

Correlation

The correlation between MRNY and FIYY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 5, 2026	0.24

Return for Risk

MRNY vs. FIYY — Risk / Return Rank

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

MRNY

MRNY Risk / Return Rank: 36
MRNY Sharpe Ratio Rank: 34
MRNY Sortino Ratio Rank: 39
MRNY Omega Ratio Rank: 37
MRNY Calmar Ratio Rank: 40
MRNY Martin Ratio Rank: 29

FIYY

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MRNY vs. FIYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and GraniteShares YieldBOOST 20Y+ Treasuries ETF (FIYY). 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	FIYY	Difference
Sharpe ratio: Return per unit of total volatility	1.00	—	—
Sortino ratio: Return per unit of downside risk	1.72	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.69	—	—
Martin ratio: Return relative to average drawdown	3.25	—	—

Drawdowns

MRNY vs. FIYY - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than FIYY's maximum drawdown of -2.51%. Use the drawdown chart below to compare losses from any high point for MRNY and FIYY.

Drawdown Indicators

	MRNY	FIYY	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-2.51%	-79.64%
Max Drawdown (1Y) Largest decline over 1 year	-31.53%	—	—
Current Drawdown Current decline from peak	-61.99%	-1.91%	-60.08%
Average Drawdown Average peak-to-trough decline	-52.99%	-1.50%	-51.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.38%	—	—

Volatility

Volatility by Period

	MRNY	FIYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.57%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	53.19%	4.95%	+48.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.61%	4.95%	+46.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.61%	4.95%	+46.66%

MRNY vs. FIYY - Expense Ratio Comparison

MRNY has a 0.99% expense ratio, which is lower than FIYY's 1.07% expense ratio.

Dividends

MRNY vs. FIYY - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 96.59%, more than FIYY's 1.13% yield.

Position	TTM	2025	2024	2023
FIYY GraniteShares YieldBOOST 20Y+ Treasuries ETF	1.13%	0.00%	0.00%	0.00%
MRNY YieldMax MRNA Option Income Strategy ETF	96.59%	145.98%	178.49%	1.75%

Frequently Asked Questions

Can I hold both MRNY and FIYY in my portfolio?

MRNY and FIYY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MRNY or FIYY?

On fees, MRNY is cheaper at 0.99% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MRNY or FIYY?

MRNY is cheaper with a 0.99% expense ratio, compared with 1.07% for FIYY.

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

MRNY has the higher dividend yield at 96.59%, compared with 1.13% for FIYY.

What is the main difference between MRNY and FIYY?

They also come from different issuers: YieldMax and GraniteShares. Their fees differ too: 0.99% for MRNY and 1.07% for FIYY.