MSFO vs. AVIE

Last updated Jun 23, 2026

MSFO (YieldMax MSFT Option Income Strategy ETF ) and AVIE (Avantis Inflation Focused Equity ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while AVIE is a Large Cap Blend Equities fund actively managed by Avantis. Both are actively managed. Over the past year, MSFO returned -18.84% vs 21.85% for AVIE. At a 0.07 correlation, their price movements are largely independent. MSFO charges 0.99%/yr vs 0.25%/yr for AVIE.

Performance

MSFO vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSFT Option Income Strategy ETF (MSFO) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSFO achieves a -20.43% return, which is significantly lower than AVIE's 12.27% return.

MSFO

• 1D: -2.80%
• 1M: -11.85%
• YTD: -20.43%
• 6M: -20.69%
• 1Y: -18.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVIE

• 1D: 0.62%
• 1M: -1.83%
• YTD: 12.27%
• 6M: 12.05%
• 1Y: 21.85%
• 3Y*: 12.88%
• 5Y*: —
• 10Y*: —

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

MSFO vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	-20.43%	15.69%	10.34%	18.74%
AVIE Avantis Inflation Focused Equity ETF	12.27%	11.37%	6.17%	2.61%

Correlation

The correlation between MSFO and AVIE is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023	0.07

The correlation between MSFO and AVIE shifts across timeframes, from -0.13 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSFO vs. AVIE — Risk / Return Rank

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

MSFO

MSFO Risk / Return Rank: 3
MSFO Sharpe Ratio Rank: 2
MSFO Sortino Ratio Rank: 3
MSFO Omega Ratio Rank: 2
MSFO Calmar Ratio Rank: 3
MSFO Martin Ratio Rank: 2

AVIE

AVIE Risk / Return Rank: 74
AVIE Sharpe Ratio Rank: 71
AVIE Sortino Ratio Rank: 74
AVIE Omega Ratio Rank: 67
AVIE Calmar Ratio Rank: 84
AVIE Martin Ratio Rank: 74

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.

MSFO vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	MSFO	AVIE	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	2.21	-3.05
Sortino ratio: Return per unit of downside risk	-1.07	3.16	-4.23
Omega ratio: Gain probability vs. loss probability	0.86	1.39	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.65	4.42	-5.06
Martin ratio: Return relative to average drawdown	-1.35	13.43	-14.77

MSFO vs. AVIE - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is -0.85, which is lower than the AVIE Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of MSFO and AVIE, 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

MSFO vs. AVIE - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.29%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for MSFO and AVIE.

Drawdown Indicators

	MSFO	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-29.29%	-12.39%	-16.90%
Max Drawdown (1Y) Largest decline over 1 year	-29.29%	-4.97%	-24.32%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.39%	—
Current Drawdown Current decline from peak	-27.09%	-2.39%	-24.70%
Average Drawdown Average peak-to-trough decline	-6.81%	-3.00%	-3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.03%	1.63%	+12.40%

Volatility

MSFO vs. AVIE - Volatility Comparison

YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 9.18% compared to Avantis Inflation Focused Equity ETF (AVIE) at 2.78%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFO	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	2.78%	+6.40%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	7.03%	+12.83%
Volatility (1Y) Calculated over the trailing 1-year period	22.37%	9.97%	+12.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	12.90%	+7.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	12.90%	+7.06%

MSFO vs. AVIE - Expense Ratio Comparison

MSFO has a 0.99% expense ratio, which is higher than AVIE's 0.25% expense ratio.

Dividends

MSFO vs. AVIE - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 47.23%, more than AVIE's 1.89% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.89%	1.75%	1.89%	3.72%	0.39%
MSFO YieldMax MSFT Option Income Strategy ETF	47.23%	33.91%	35.15%	6.44%	0.00%

Frequently Asked Questions

Can I hold both MSFO and AVIE in my portfolio?

MSFO and AVIE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSFO or AVIE?

MSFO has higher volatility (9.18%) compared to AVIE (2.78%). In terms of maximum drawdown, MSFO dropped -29.29% vs AVIE's -12.39%.

Which ETF is better, MSFO or AVIE?

On 1-year performance, AVIE leads with 21.85% vs -18.84% for MSFO. On fees, AVIE is cheaper at 0.25% per year. On volatility, AVIE has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFO or AVIE?

Over the 1-year period, AVIE has performed better with a 21.85% return vs -18.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFO or AVIE?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.99% for MSFO.

Which ETF pays a higher dividend yield, MSFO or AVIE?

MSFO has the higher dividend yield at 47.23%, compared with 1.89% for AVIE.

What is the main difference between MSFO and AVIE?

MSFO is categorized as Options Trading, while AVIE is Large Cap Blend Equities. They also come from different issuers: YieldMax and Avantis. Their fees differ too: 0.99% for MSFO and 0.25% for AVIE.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.21 vs -0.85), 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.