MRNY vs. MSTY

Last updated Jul 14, 2026

MRNY (YieldMax MRNA Option Income Strategy ETF) and MSTY (YieldMax™ MSTR Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, MRNY returned 54.97% vs -73.76% for MSTY. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

MRNY vs. MSTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MRNA Option Income Strategy ETF (MRNY) 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, MRNY achieves a 89.76% return, which is significantly higher than MSTY's -35.55% return.

MRNY

• 1D: -1.48%
• 1M: 24.71%
• 6M: 67.73%
• YTD: 89.76%
• 1Y: 54.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MSTY

• 1D: -2.03%
• 1M: -23.27%
• 6M: -39.01%
• YTD: -35.55%
• 1Y: -73.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRNY vs. MSTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MRNY YieldMax MRNA Option Income Strategy ETF	89.76%	-35.72%	-54.20%
MSTY YieldMax™ MSTR Option Income Strategy ETF	-35.55%	-42.71%	212.16%

Correlation

The correlation between MRNY and MSTY is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Feb 22, 2024	0.23

Return for Risk

MRNY vs. MSTY — Risk / Return Rank

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

MRNY

MRNY Risk / Return Rank: 38
MRNY Sharpe Ratio Rank: 36
MRNY Sortino Ratio Rank: 43
MRNY Omega Ratio Rank: 39
MRNY Calmar Ratio Rank: 43
MRNY Martin Ratio Rank: 30

MSTY

MSTY Risk / Return Rank: 1
MSTY Sharpe Ratio Rank: 1
MSTY Sortino Ratio Rank: 0
MSTY Omega Ratio Rank: 0
MSTY Calmar Ratio Rank: 1
MSTY Martin Ratio Rank: 1

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. MSTY - Risk-Adjusted Trends Comparison

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

	MRNY	MSTY	Difference
Sharpe ratio: Return per unit of total volatility	1.04	-1.15	+2.19
Sortino ratio: Return per unit of downside risk	1.77	-2.35	+4.13
Omega ratio: Gain probability vs. loss probability	1.21	0.75	+0.46
Calmar ratio: Return relative to maximum drawdown	1.75	-0.95	+2.71
Martin ratio: Return relative to average drawdown	3.38	-1.41	+4.79

MRNY vs. MSTY - Sharpe Ratio Comparison

The current MRNY Sharpe Ratio is 1.04, which is higher than the MSTY Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of MRNY 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

MRNY vs. MSTY - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than MSTY's maximum drawdown of -77.40%. Use the drawdown chart below to compare losses from any high point for MRNY and MSTY.

Drawdown Indicators

	MRNY	MSTY	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-77.40%	-4.75%
Max Drawdown (1Y) Largest decline over 1 year	-31.53%	-77.40%	+45.87%
Current Drawdown Current decline from peak	-60.05%	-74.66%	+14.61%
Average Drawdown Average peak-to-trough decline	-52.96%	-28.01%	-24.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.31%	52.19%	-35.88%

Volatility

MRNY vs. MSTY - Volatility Comparison

The current volatility for YieldMax MRNA Option Income Strategy ETF (MRNY) is 20.48%, while YieldMax™ MSTR Option Income Strategy ETF (MSTY) has a volatility of 23.76%. This indicates that MRNY 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

	MRNY	MSTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.48%	23.76%	-3.28%
Volatility (6M) Calculated over the trailing 6-month period	39.62%	53.06%	-13.44%
Volatility (1Y) Calculated over the trailing 1-year period	53.03%	64.61%	-11.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.56%	72.32%	-20.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.56%	72.32%	-20.76%

MRNY vs. MSTY - Expense Ratio Comparison

Both MRNY and MSTY have an expense ratio of 0.99%.

Dividends

MRNY vs. MSTY - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 88.03%, less than MSTY's 289.43% yield.

Position	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	88.03%	145.98%	178.49%	1.75%
MSTY YieldMax™ MSTR Option Income Strategy ETF	289.43%	294.61%	104.56%	0.00%

Frequently Asked Questions

Can I hold both MRNY and MSTY in my portfolio?

MRNY and MSTY have a correlation of 0.26, 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 MSTY?

MSTY has higher volatility (23.76%) compared to MRNY (20.48%). In terms of maximum drawdown, MRNY dropped -82.15% vs MSTY's -77.40%.

Which ETF is better, MRNY or MSTY?

On 1-year performance, MRNY leads with 54.97% vs -73.76% for MSTY. Both ETFs have the same 0.99% expense ratio. On volatility, MRNY has been the lower-risk option at 20.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRNY or MSTY?

Over the 1-year period, MRNY has performed better with a 54.97% return vs -73.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRNY or MSTY?

MRNY and MSTY have the same expense ratio: 0.99% per year.

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

MSTY has the higher dividend yield at 289.43%, compared with 88.03% for MRNY.

Which has better risk-adjusted returns?

MRNY currently has the higher Sharpe Ratio (1.04 vs -1.15), 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.