MSFO vs. FBY
MSFO (YieldMax MSFT Option Income Strategy ETF) and FBY (YieldMax META Option Income Strategy ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while FBY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MSFO returned -3.86% vs -20.57% for FBY. Their 0.48 correlation means their historical movements had little consistent relationship. MSFO charges 1.03%/yr vs 0.99%/yr for FBY.
Performance
MSFO vs. FBY - Performance Comparison
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Returns By Period
In the year-to-date period, MSFO achieves a 0.49% return, which is significantly higher than FBY's -11.62% return.
MSFO
- 1D
- 4.63%
- 1M
- 20.78%
- 6M
- 12.36%
- YTD
- 0.49%
- 1Y
- -3.86%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.38%
FBY
- 1D
- 4.65%
- 1M
- -0.12%
- 6M
- -16.18%
- YTD
- -11.62%
- 1Y
- -20.57%
- 3Y*
- 15.86%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.46M | $1.45M | $1.60M | |
| $1.07M | $907.81K | $1.05M |
MSFO vs. FBY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MSFO YieldMax MSFT Option Income Strategy ETF | 0.49% | 15.69% | 10.34% | 18.74% |
FBY YieldMax META Option Income Strategy ETF | -11.62% | 1.98% | 44.42% | 28.46% |
Correlation
The correlation between MSFO and FBY is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.48 |
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Return for Risk
MSFO vs. FBY — Risk / Return Rank
MSFO
FBY
MSFO vs. FBY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and YieldMax META Option Income Strategy ETF (FBY). 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 | FBY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.90 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | -0.70 | +0.57 |
| Martin ratioReturn relative to average drawdown | -0.24 | -1.27 | +1.04 |
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Drawdowns
MSFO vs. FBY - Drawdown Comparison
The maximum MSFO drawdown since its inception was -29.65%, smaller than the maximum FBY drawdown of -31.53%. Use the drawdown chart below to compare losses from any high point for MSFO and FBY.
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Drawdown Indicators
| MSFO | FBY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.65% | -31.53% | +1.88% |
Max Drawdown (1Y)Largest decline over 1 year | -29.65% | -29.50% | -0.15% |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.53% | — |
Current DrawdownCurrent decline from peak | -7.92% | -24.05% | +16.13% |
Average DrawdownAverage peak-to-trough decline | -7.46% | -8.58% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.15% | 16.16% | -0.01% |
Volatility
MSFO vs. FBY - Volatility Comparison
YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 14.36% compared to YieldMax META Option Income Strategy ETF (FBY) at 13.48%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than FBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFO | FBY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.36% | 13.48% | +0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 23.34% | 25.99% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.74% | 32.24% | -4.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.90% | 29.59% | -7.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.90% | 29.59% | -7.69% |
MSFO vs. FBY - Expense Ratio Comparison
MSFO has a 1.03% expense ratio, which is higher than FBY's 0.99% expense ratio.
Dividends
MSFO vs. FBY - Dividend Comparison
MSFO's dividend yield for the trailing twelve months is around 34.78%, less than FBY's 59.99% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
FBY YieldMax META Option Income Strategy ETF | 59.99% | 55.43% | 53.89% | 8.31% |
MSFO YieldMax MSFT Option Income Strategy ETF | 34.78% | 33.91% | 35.15% | 6.44% |
Frequently Asked Questions
MSFO and FBY have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFO has higher volatility (14.36%) compared to FBY (13.48%). In terms of maximum drawdown, MSFO dropped -29.65% vs FBY's -31.53%.
On 1-year performance, MSFO leads with -3.86% vs -20.57% for FBY. On fees, FBY is cheaper at 0.99% per year. On volatility, FBY has been the lower-risk option at 13.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MSFO has performed better with a -3.86% return vs -20.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FBY is cheaper with a 0.99% expense ratio, compared with 1.03% for MSFO.
FBY has the higher dividend yield at 59.99%, compared with 34.78% for MSFO.
MSFO is categorized as Options Trading, while FBY is Derivative Income. Their fees differ too: 1.03% for MSFO and 0.99% for FBY.
MSFO currently has the higher Sharpe Ratio (-0.14 vs -0.64), 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.
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