MRNY vs. NVDY

Last updated Jun 25, 2026

MRNY (YieldMax MRNA Option Income Strategy ETF) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both Derivative Income funds from YieldMax. Both are actively managed. Over the past year, MRNY returned 67.98% vs 31.11% for NVDY. At a 0.14 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

MRNY vs. NVDY - Performance Comparison

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

Returns By Period

In the year-to-date period, MRNY achieves a 74.80% return, which is significantly higher than NVDY's 6.53% return.

MRNY

• 1D: -0.57%
• 1M: 20.11%
• YTD: 74.80%
• 6M: 59.53%
• 1Y: 67.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVDY

• 1D: -0.48%
• 1M: -5.66%
• YTD: 6.53%
• 6M: 5.92%
• 1Y: 31.11%
• 3Y*: 50.35%
• 5Y*: —
• 10Y*: —

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

MRNY vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	74.80%	-35.72%	-59.32%	18.27%
NVDY YieldMax NVDA Option Income Strategy ETF	6.53%	27.38%	114.23%	11.56%

Correlation

The correlation between MRNY and NVDY is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Oct 24, 2023	0.14

Return for Risk

MRNY vs. NVDY — Risk / Return Rank

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

MRNY

MRNY Risk / Return Rank: 42
MRNY Sharpe Ratio Rank: 42
MRNY Sortino Ratio Rank: 46
MRNY Omega Ratio Rank: 42
MRNY Calmar Ratio Rank: 49
MRNY Martin Ratio Rank: 32

NVDY

NVDY Risk / Return Rank: 38
NVDY Sharpe Ratio Rank: 33
NVDY Sortino Ratio Rank: 32
NVDY Omega Ratio Rank: 31
NVDY Calmar Ratio Rank: 55
NVDY Martin Ratio Rank: 38

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. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.10	+0.24
Sortino ratio: Return per unit of downside risk	2.09	1.59	+0.50
Omega ratio: Gain probability vs. loss probability	1.25	1.20	+0.05
Calmar ratio: Return relative to maximum drawdown	2.17	2.44	-0.27
Martin ratio: Return relative to average drawdown	4.19	5.50	-1.31

MRNY vs. NVDY - Sharpe Ratio Comparison

The current MRNY Sharpe Ratio is 1.34, which is comparable to the NVDY Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of MRNY and NVDY, 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. NVDY - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than NVDY's maximum drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for MRNY and NVDY.

Drawdown Indicators

	MRNY	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-34.08%	-48.07%
Max Drawdown (1Y) Largest decline over 1 year	-31.53%	-12.81%	-18.72%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-63.20%	-12.05%	-51.15%
Average Drawdown Average peak-to-trough decline	-52.87%	-6.20%	-46.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.26%	5.67%	+10.59%

Volatility

MRNY vs. NVDY - Volatility Comparison

YieldMax MRNA Option Income Strategy ETF (MRNY) has a higher volatility of 15.77% compared to YieldMax NVDA Option Income Strategy ETF (NVDY) at 10.03%. This indicates that MRNY's price experiences larger fluctuations and is considered to be riskier than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRNY	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.77%	10.03%	+5.74%
Volatility (6M) Calculated over the trailing 6-month period	38.81%	21.44%	+17.37%
Volatility (1Y) Calculated over the trailing 1-year period	51.06%	28.33%	+22.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.01%	38.17%	+12.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.01%	38.17%	+12.84%

MRNY vs. NVDY - Expense Ratio Comparison

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

Dividends

MRNY vs. NVDY - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 83.08%, more than NVDY's 64.61% yield.

Position	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	83.08%	145.98%	178.49%	1.75%
NVDY YieldMax NVDA Option Income Strategy ETF	64.61%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both MRNY and NVDY in my portfolio?

MRNY and NVDY have a correlation of 0.10, 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 NVDY?

MRNY has higher volatility (15.77%) compared to NVDY (10.03%). In terms of maximum drawdown, MRNY dropped -82.15% vs NVDY's -34.08%.

Which ETF is better, MRNY or NVDY?

On 1-year performance, MRNY leads with 67.98% vs 31.11% for NVDY. Both ETFs have the same 0.99% expense ratio. On volatility, NVDY has been the lower-risk option at 10.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRNY or NVDY?

Over the 1-year period, MRNY has performed better with a 67.98% return vs 31.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRNY or NVDY?

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

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

MRNY has the higher dividend yield at 83.08%, compared with 64.61% for NVDY.

Which has better risk-adjusted returns?

MRNY currently has the higher Sharpe Ratio (1.34 vs 1.10), 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.