MRNY vs. YETH

Last updated Apr 2, 2026

Compare and contrast key facts about YieldMax MRNA Option Income Strategy ETF (MRNY) and Roundhill Ether Covered Call Strategy ETF (YETH).

MRNY and YETH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MRNY is an actively managed fund by YieldMax. It was launched on Oct 23, 2023. YETH is an actively managed fund by Roundhill. It was launched on Sep 4, 2024.

Performance

MRNY vs. YETH - Performance Comparison

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

MRNY vs. YETH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MRNY YieldMax MRNA Option Income Strategy ETF	55.26%	-35.72%	-34.84%
YETH Roundhill Ether Covered Call Strategy ETF	-22.85%	-32.10%	24.84%

Returns By Period

In the year-to-date period, MRNY achieves a 55.26% return, which is significantly higher than YETH's -22.85% return.

MRNY

• 1D: -1.18%
• 1M: -1.56%
• YTD: 55.26%
• 6M: 60.43%
• 1Y: 57.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

YETH

• 1D: 1.01%
• 1M: 10.48%
• YTD: -22.85%
• 6M: -40.97%
• 1Y: -19.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MRNY vs. YETH - Expense Ratio Comparison

MRNY has a 0.99% expense ratio, which is higher than YETH's 0.95% expense ratio.

MRNY

YieldMax MRNA Option Income Strategy ETF

YETH

Roundhill Ether Covered Call Strategy ETF

Return for Risk

MRNY vs. YETH — Risk / Return Rank

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

MRNY

MRNY Risk / Return Rank: 56
MRNY Sharpe Ratio Rank: 61
MRNY Sortino Ratio Rank: 68
MRNY Omega Ratio Rank: 56
MRNY Calmar Ratio Rank: 60
MRNY Martin Ratio Rank: 34

YETH

YETH Risk / Return Rank: 7
YETH Sharpe Ratio Rank: 6
YETH Sortino Ratio Rank: 8
YETH Omega Ratio Rank: 8
YETH Calmar Ratio Rank: 7
YETH Martin Ratio Rank: 7

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. YETH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MRNA Option Income Strategy ETF (MRNY) and Roundhill Ether Covered Call Strategy ETF (YETH). 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	YETH	Difference
Sharpe ratio Return per unit of total volatility	1.11	-0.34	+1.45
Sortino ratio Return per unit of downside risk	1.78	-0.10	+1.88
Omega ratio Gain probability vs. loss probability	1.22	0.99	+0.23
Calmar ratio Return relative to maximum drawdown	1.61	-0.29	+1.90
Martin ratio Return relative to average drawdown	3.21	-0.63	+3.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRNY vs. YETH - Sharpe Ratio Comparison

The current MRNY Sharpe Ratio is 1.11, which is higher than the YETH Sharpe Ratio of -0.34. The chart below compares the historical Sharpe Ratios of MRNY and YETH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MRNY	YETH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	-0.34	+1.45
Sharpe Ratio (All Time) Calculated using the full available price history	-0.50	-0.42	-0.08

Correlation

The correlation between MRNY and YETH is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MRNY vs. YETH - Dividend Comparison

MRNY's dividend yield for the trailing twelve months is around 88.60%, less than YETH's 126.49% yield.

	TTM	2025	2024	2023
MRNY YieldMax MRNA Option Income Strategy ETF	88.60%	145.98%	178.49%	1.75%
YETH Roundhill Ether Covered Call Strategy ETF	126.49%	109.12%	20.52%	0.00%

Drawdowns

MRNY vs. YETH - Drawdown Comparison

The maximum MRNY drawdown since its inception was -82.15%, which is greater than YETH's maximum drawdown of -61.73%. Use the drawdown chart below to compare losses from any high point for MRNY and YETH.

Drawdown Indicators

	MRNY	YETH	Difference
Max Drawdown Largest peak-to-trough decline	-82.15%	-61.73%	-20.42%
Max Drawdown (1Y) Largest decline over 1 year	-31.53%	-55.63%	+24.10%
Current Drawdown Current decline from peak	-67.31%	-52.86%	-14.45%
Average Drawdown Average peak-to-trough decline	-51.53%	-28.76%	-22.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.78%	25.59%	-9.81%

Volatility

MRNY vs. YETH - Volatility Comparison

YieldMax MRNA Option Income Strategy ETF (MRNY) has a higher volatility of 16.90% compared to Roundhill Ether Covered Call Strategy ETF (YETH) at 11.45%. This indicates that MRNY's price experiences larger fluctuations and is considered to be riskier than YETH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRNY	YETH	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.90%	11.45%	+5.45%
Volatility (6M) Calculated over the trailing 6-month period	39.43%	45.85%	-6.42%
Volatility (1Y) Calculated over the trailing 1-year period	52.05%	59.69%	-7.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.40%	57.06%	-5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.40%	57.06%	-5.66%