MSFO vs. MSFW

Last updated Aug 2, 2026

MSFO (YieldMax MSFT Option Income Strategy ETF) and MSFW (Roundhill MSFT WeeklyPay™ ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while MSFW is a Derivative Income fund actively managed by Roundhill. Both are actively managed. Over the past year, MSFO returned -8.12% vs -16.79% for MSFW. Their 0.96 correlation means they have historically moved very closely together. MSFO charges 1.03%/yr vs 0.99%/yr for MSFW.

Performance

MSFO vs. MSFW - Performance Comparison

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

Returns By Period

In the year-to-date period, MSFO achieves a -3.96% return, which is significantly higher than MSFW's -6.87% return.

MSFO

• 1D: 1.68%
• 1M: 15.44%
• 6M: 6.49%
• YTD: -3.96%
• 1Y: -8.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.66%

MSFW

• 1D: 3.46%
• 1M: 22.44%
• 6M: 7.60%
• YTD: -6.87%
• 1Y: -16.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -13.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSFO YieldMax MSFT Option Income Strategy ETF	$984.76K	$840.67K	$1.06M
MSFW Roundhill MSFT WeeklyPay™ ETF	$555.06K	$433.47K	$575.39K

MSFO vs. MSFW - Yearly Performance Comparison

	2026 (YTD)	2025
MSFO YieldMax MSFT Option Income Strategy ETF	-3.96%	-1.81%
MSFW Roundhill MSFT WeeklyPay™ ETF	-6.87%	-7.80%

Correlation

The correlation between MSFO and MSFW is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (All Time) Calculated using the full available price history since Jul 24, 2025	0.96

The correlation between MSFO and MSFW has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

MSFO vs. MSFW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSFO

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

MSFW

MSFW Risk / Return Rank: 5
MSFW Sharpe Ratio Rank: 5
MSFW Sortino Ratio Rank: 5
MSFW Omega Ratio Rank: 5
MSFW Calmar Ratio Rank: 6
MSFW Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSFO vs. MSFW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and Roundhill MSFT WeeklyPay™ ETF (MSFW). 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	MSFW	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	-0.48	+0.13
Sortino ratio: Return per unit of downside risk	-0.36	-0.52	+0.16
Omega ratio: Gain probability vs. loss probability	0.96	0.94	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.32	-0.44	+0.12
Martin ratio: Return relative to average drawdown	-0.59	-0.77	+0.18

MSFO vs. MSFW - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is -0.35, which is comparable to the MSFW Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of MSFO and MSFW, 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. MSFW - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.65%, smaller than the maximum MSFW drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for MSFO and MSFW.

Drawdown Indicators

	MSFO	MSFW	Difference
Max Drawdown Largest peak-to-trough decline	-29.65%	-41.85%	+12.20%
Max Drawdown (1Y) Largest decline over 1 year	-29.65%	-41.85%	+12.20%
Current Drawdown Current decline from peak	-12.00%	-19.48%	+7.48%
Average Drawdown Average peak-to-trough decline	-7.46%	-19.93%	+12.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.14%	23.80%	-7.66%

Volatility

MSFO vs. MSFW - Volatility Comparison

The current volatility for YieldMax MSFT Option Income Strategy ETF (MSFO) is 13.86%, while Roundhill MSFT WeeklyPay™ ETF (MSFW) has a volatility of 18.56%. This indicates that MSFO experiences smaller price fluctuations and is considered to be less risky than MSFW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFO	MSFW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.86%	18.56%	-4.70%
Volatility (6M) Calculated over the trailing 6-month period	22.95%	31.64%	-8.69%
Volatility (1Y) Calculated over the trailing 1-year period	27.49%	38.47%	-10.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.75%	38.10%	-16.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.75%	38.10%	-16.35%

MSFO vs. MSFW - Expense Ratio Comparison

MSFO has a 1.03% expense ratio, which is higher than MSFW's 0.99% expense ratio.

Dividends

MSFO vs. MSFW - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 36.39%, less than MSFW's 42.44% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	36.39%	33.91%	35.15%	6.44%
MSFW Roundhill MSFT WeeklyPay™ ETF	42.44%	20.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSFO and MSFW in my portfolio?

With a correlation of 0.97, MSFO and MSFW move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MSFO or MSFW?

MSFW has higher volatility (18.56%) compared to MSFO (13.86%). In terms of maximum drawdown, MSFO dropped -29.65% vs MSFW's -41.85%.

Which ETF is better, MSFO or MSFW?

On 1-year performance, MSFO leads with -8.12% vs -16.79% for MSFW. On fees, MSFW is cheaper at 0.99% per year. On volatility, MSFO has been the lower-risk option at 13.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFO or MSFW?

Over the 1-year period, MSFO has performed better with a -8.12% return vs -16.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MSFO or MSFW?

MSFW is cheaper with a 0.99% expense ratio, compared with 1.03% for MSFO.

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

MSFW has the higher dividend yield at 42.44%, compared with 36.39% for MSFO.

What is the main difference between MSFO and MSFW?

MSFO is categorized as Options Trading, while MSFW is Derivative Income. They also come from different issuers: YieldMax and Roundhill. Their fees differ too: 1.03% for MSFO and 0.99% for MSFW.

Which has better risk-adjusted returns?

MSFO currently has the higher Sharpe Ratio (-0.35 vs -0.48), 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.