MRNY vs. SGVT

Last updated Jun 16, 2026

MRNY (YieldMax MRNA Option Income Strategy ETF) and SGVT (Schwab Government Money Market ETF) are both exchange-traded funds - MRNY is a Derivative Income fund actively managed by YieldMax, while SGVT is a Money Market fund actively managed by Charles Schwab. Both are actively managed. Over the past year, MRNY returned 53.54% vs 3.74% for SGVT. At a 0.01 correlation, their price movements are largely independent. MRNY charges 0.99%/yr vs 0.28%/yr for SGVT.

Performance

MRNY vs. SGVT - Performance Comparison

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

Returns By Period

In the year-to-date period, MRNY achieves a 56.58% return, which is significantly higher than SGVT's 1.51% return.

MRNY

• 1D: 2.91%
• 1M: 5.64%
• YTD: 56.58%
• 6M: 51.42%
• 1Y: 53.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SGVT

• 1D: -0.01%
• 1M: 0.26%
• YTD: 1.51%
• 6M: 1.68%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRNY vs. SGVT - Yearly Performance Comparison

	2026 (YTD)	2025
MRNY YieldMax MRNA Option Income Strategy ETF	56.58%	-3.89%
SGVT Schwab Government Money Market ETF	1.51%	2.22%

Correlation

The correlation between MRNY and SGVT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 12, 2025	0.01

Return for Risk

MRNY vs. SGVT — Risk / Return Rank

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

MRNY

MRNY Risk / Return Rank: 34
MRNY Sharpe Ratio Rank: 32
MRNY Sortino Ratio Rank: 38
MRNY Omega Ratio Rank: 34
MRNY Calmar Ratio Rank: 37
MRNY Martin Ratio Rank: 26

SGVT

SGVT Risk / Return Rank: 100
SGVT Sharpe Ratio Rank: 100
SGVT Sortino Ratio Rank: 100
SGVT Omega Ratio Rank: 100
SGVT Calmar Ratio Rank: 100
SGVT Martin Ratio Rank: 100

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. SGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and Schwab Government Money Market ETF (SGVT). 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	SGVT	Difference
Sharpe ratio: Return per unit of total volatility	1.08	18.33	-17.25
Sortino ratio: Return per unit of downside risk	1.81	100.91	-99.10
Omega ratio: Gain probability vs. loss probability	1.21	36.10	-34.89
Calmar ratio: Return relative to maximum drawdown	1.71	138.97	-137.27
Martin ratio: Return relative to average drawdown	3.30	1,477.41	-1,474.11

MRNY vs. SGVT - Sharpe Ratio Comparison

The current MRNY Sharpe Ratio is 1.08, which is lower than the SGVT Sharpe Ratio of 18.33. The chart below compares the historical Sharpe Ratios of MRNY and SGVT, 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. SGVT - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than SGVT's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for MRNY and SGVT.

Drawdown Indicators

	MRNY	SGVT	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-0.03%	-82.12%
Max Drawdown (1Y) Largest decline over 1 year	-31.53%	-0.03%	-31.50%
Current Drawdown Current decline from peak	-67.04%	-0.01%	-67.03%
Average Drawdown Average peak-to-trough decline	-52.78%	-0.00%	-52.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.25%	0.00%	+16.25%

Volatility

MRNY vs. SGVT - Volatility Comparison

YieldMax MRNA Option Income Strategy ETF (MRNY) has a higher volatility of 12.97% compared to Schwab Government Money Market ETF (SGVT) at 0.07%. This indicates that MRNY's price experiences larger fluctuations and is considered to be riskier than SGVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRNY	SGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.97%	0.07%	+12.90%
Volatility (6M) Calculated over the trailing 6-month period	37.72%	0.13%	+37.59%
Volatility (1Y) Calculated over the trailing 1-year period	49.94%	0.21%	+49.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.72%	0.21%	+50.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.72%	0.21%	+50.51%

MRNY vs. SGVT - Expense Ratio Comparison

MRNY has a 0.99% expense ratio, which is higher than SGVT's 0.28% expense ratio.

Dividends

MRNY vs. SGVT - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 102.17%, more than SGVT's 3.12% yield.

Position	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	102.17%	145.98%	178.49%	1.75%
SGVT Schwab Government Money Market ETF	3.12%	1.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MRNY and SGVT in my portfolio?

MRNY and SGVT have a correlation of 0.01, 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 SGVT?

MRNY has higher volatility (12.97%) compared to SGVT (0.07%). In terms of maximum drawdown, MRNY dropped -82.15% vs SGVT's -0.03%.

Which ETF is better, MRNY or SGVT?

On 1-year performance, MRNY leads with 53.54% vs 3.74% for SGVT. On fees, SGVT is cheaper at 0.28% per year. On volatility, SGVT has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRNY or SGVT?

Over the 1-year period, MRNY has performed better with a 53.54% return vs 3.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRNY or SGVT?

SGVT is cheaper with a 0.28% expense ratio, compared with 0.99% for MRNY.

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

MRNY has the higher dividend yield at 102.17%, compared with 3.12% for SGVT.

What is the main difference between MRNY and SGVT?

MRNY is categorized as Derivative Income, while SGVT is Money Market. They also come from different issuers: YieldMax and Charles Schwab. Their fees differ too: 0.99% for MRNY and 0.28% for SGVT.

Which has better risk-adjusted returns?

SGVT currently has the higher Sharpe Ratio (18.33 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.