MSFO vs. ICSH
MSFO (YieldMax MSFT Option Income Strategy ETF ) and ICSH (iShares Ultra Short Duration Bond Active ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while ICSH is a Ultrashort Bond fund actively managed by iShares. Both are actively managed. Over the past year, MSFO returned -13.71% vs 4.32% for ICSH. At a 0.01 correlation, their price movements are largely independent. MSFO charges 0.99%/yr vs 0.08%/yr for ICSH.
Performance
MSFO vs. ICSH - Performance Comparison
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Returns By Period
In the year-to-date period, MSFO achieves a -16.15% return, which is significantly lower than ICSH's 1.53% return.
MSFO
- 1D
- 0.02%
- 1M
- -5.33%
- YTD
- -16.15%
- 6M
- -15.35%
- 1Y
- -13.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICSH
- 1D
- 0.00%
- 1M
- 0.32%
- YTD
- 1.53%
- 6M
- 1.81%
- 1Y
- 4.32%
- 3Y*
- 5.16%
- 5Y*
- 3.69%
- 10Y*
- 2.78%
MSFO vs. ICSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MSFO YieldMax MSFT Option Income Strategy ETF
| -16.15% | 15.69% | 10.34% | 18.74% |
ICSH iShares Ultra Short Duration Bond Active ETF | 1.53% | 4.96% | 5.52% | 2.27% |
Correlation
The correlation between MSFO and ICSH is 0.07, 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 | 0.07 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023 | 0.01 |
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Return for Risk
MSFO vs. ICSH — Risk / Return Rank
MSFO
ICSH
MSFO vs. ICSH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and iShares Ultra Short Duration Bond Active ETF (ICSH). 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 | ICSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -11.62 | ||
| Sortino ratioReturn per unit of downside risk | -28.24 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 6.59 | -5.69 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 43.88 | -44.35 |
| Martin ratioReturn relative to average drawdown | -1.02 | 290.20 | -291.22 |
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Drawdowns
MSFO vs. ICSH - Drawdown Comparison
The maximum MSFO drawdown since its inception was -29.29%, which is greater than ICSH's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for MSFO and ICSH.
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Drawdown Indicators
| MSFO | ICSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.29% | -3.94% | -25.35% |
Max Drawdown (1Y)Largest decline over 1 year | -29.29% | -0.10% | -29.19% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.10% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -0.73% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -3.94% | — |
Current DrawdownCurrent decline from peak | -23.17% | 0.00% | -23.17% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -0.08% | -6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.60% | 0.01% | +13.59% |
Volatility
MSFO vs. ICSH - Volatility Comparison
YieldMax MSFT Option Income Strategy ETF (MSFO) has a higher volatility of 8.81% compared to iShares Ultra Short Duration Bond Active ETF (ICSH) at 0.13%. This indicates that MSFO's price experiences larger fluctuations and is considered to be riskier than ICSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFO | ICSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.81% | 0.13% | +8.68% |
Volatility (6M)Calculated over the trailing 6-month period | 19.32% | 0.29% | +19.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.81% | 0.39% | +21.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.81% | 0.48% | +19.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.81% | 1.06% | +18.75% |
MSFO vs. ICSH - Expense Ratio Comparison
MSFO has a 0.99% expense ratio, which is higher than ICSH's 0.08% expense ratio.
Dividends
MSFO vs. ICSH - Dividend Comparison
MSFO's dividend yield for the trailing twelve months is around 44.05%, more than ICSH's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICSH iShares Ultra Short Duration Bond Active ETF | 4.34% | 4.55% | 5.24% | 4.78% | 1.66% | 0.42% | 1.21% | 2.61% | 2.20% | 1.36% | 0.88% | 0.54% |
MSFO YieldMax MSFT Option Income Strategy ETF
| 44.05% | 33.91% | 35.15% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MSFO and ICSH have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFO has higher volatility (8.81%) compared to ICSH (0.13%). In terms of maximum drawdown, MSFO dropped -29.29% vs ICSH's -3.94%.
On 1-year performance, ICSH leads with 4.32% vs -13.71% for MSFO. On fees, ICSH is cheaper at 0.08% per year. On volatility, ICSH has been the lower-risk option at 0.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ICSH has performed better with a 4.32% return vs -13.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICSH is cheaper with a 0.08% expense ratio, compared with 0.99% for MSFO.
MSFO has the higher dividend yield at 44.05%, compared with 4.34% for ICSH.
MSFO is categorized as Options Trading, while ICSH is Ultrashort Bond. They also come from different issuers: YieldMax and iShares. Their fees differ too: 0.99% for MSFO and 0.08% for ICSH.
ICSH currently has the higher Sharpe Ratio (10.98 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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