MRNY vs. IVVW
MRNY (YieldMax MRNA Option Income Strategy ETF) and IVVW (iShares S&P 500 BuyWrite ETF) are both Derivative Income funds. MRNY is actively managed, while IVVW is passively managed. Over the past year, MRNY returned 53.27% vs 20.33% for IVVW. At a 0.34 correlation, their price movements are largely independent. MRNY charges 0.99%/yr vs 0.25%/yr for IVVW.
Performance
MRNY vs. IVVW - Performance Comparison
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Returns By Period
In the year-to-date period, MRNY achieves a 55.67% return, which is significantly higher than IVVW's 5.13% return.
MRNY
- 1D
- 2.69%
- 1M
- 7.98%
- YTD
- 55.67%
- 6M
- 64.78%
- 1Y
- 53.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVW
- 1D
- 0.27%
- 1M
- 1.98%
- YTD
- 5.13%
- 6M
- 6.73%
- 1Y
- 20.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MRNY vs. IVVW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MRNY YieldMax MRNA Option Income Strategy ETF | 55.67% | -35.72% | -60.95% |
IVVW iShares S&P 500 BuyWrite ETF | 5.13% | 11.71% | 12.90% |
Correlation
The correlation between MRNY and IVVW is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2024 | 0.34 |
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Return for Risk
MRNY vs. IVVW — Risk / Return Rank
MRNY
IVVW
MRNY vs. IVVW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and iShares S&P 500 BuyWrite ETF (IVVW). 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.
| MRNY | IVVW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.62 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 1.70 | 3.51 | -1.81 |
| Martin ratioReturn relative to average drawdown | 3.31 | 19.38 | -16.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MRNY | IVVW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 2.76 | -1.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.48 | 1.08 | -1.56 |
Drawdowns
MRNY vs. IVVW - Drawdown Comparison
The maximum MRNY drawdown since its inception was -82.15%, which is greater than IVVW's maximum drawdown of -16.79%. Use the drawdown chart below to compare losses from any high point for MRNY and IVVW.
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Drawdown Indicators
| MRNY | IVVW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.15% | -16.79% | -65.36% |
Max Drawdown (1Y)Largest decline over 1 year | -31.53% | -5.81% | -25.72% |
Current DrawdownCurrent decline from peak | -67.23% | 0.00% | -67.23% |
Average DrawdownAverage peak-to-trough decline | -52.64% | -1.75% | -50.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.15% | 1.05% | +15.10% |
Volatility
MRNY vs. IVVW - Volatility Comparison
YieldMax MRNA Option Income Strategy ETF (MRNY) has a higher volatility of 13.53% compared to iShares S&P 500 BuyWrite ETF (IVVW) at 1.14%. This indicates that MRNY's price experiences larger fluctuations and is considered to be riskier than IVVW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MRNY | IVVW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.53% | 1.14% | +12.39% |
Volatility (6M)Calculated over the trailing 6-month period | 37.11% | 6.07% | +31.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.38% | 7.40% | +41.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.75% | 12.65% | +38.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.75% | 12.65% | +38.10% |
MRNY vs. IVVW - Expense Ratio Comparison
MRNY has a 0.99% expense ratio, which is higher than IVVW's 0.25% expense ratio.
Dividends
MRNY vs. IVVW - Dividend Comparison
MRNY's dividend yield for the trailing twelve months is around 100.06%, more than IVVW's 19.65% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IVVW iShares S&P 500 BuyWrite ETF | 19.65% | 18.55% | 13.72% | 0.00% |
MRNY YieldMax MRNA Option Income Strategy ETF | 100.06% | 145.98% | 178.49% | 1.75% |
Frequently Asked Questions
MRNY and IVVW have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MRNY has higher volatility (13.53%) compared to IVVW (1.14%). In terms of maximum drawdown, MRNY dropped -82.15% vs IVVW's -16.79%.
On 1-year performance, MRNY leads with 53.27% vs 20.33% for IVVW. On fees, IVVW is cheaper at 0.25% per year. On volatility, IVVW has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MRNY has performed better with a 53.27% return vs 20.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVW is cheaper with a 0.25% expense ratio, compared with 0.99% for MRNY.
MRNY has the higher dividend yield at 100.06%, compared with 19.65% for IVVW.
They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for MRNY and 0.25% for IVVW.
IVVW currently has the higher Sharpe Ratio (2.76 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.
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