MSFO vs. NVDY

Last updated Jun 23, 2026

MSFO (YieldMax MSFT Option Income Strategy ETF ) and NVDY (YieldMax NVDA Option Income Strategy ETF) are both exchange-traded funds - MSFO is a Options Trading fund actively managed by YieldMax, while NVDY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, MSFO returned -18.84% vs 38.81% for NVDY. At a 0.50 correlation, their price movements are largely independent. Both charge a 0.99% expense ratio.

Performance

MSFO vs. NVDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSFT Option Income Strategy ETF (MSFO) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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 NVDY's 10.62% return.

MSFO

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

NVDY

• 1D: -0.76%
• 1M: -2.04%
• YTD: 10.62%
• 6M: 12.42%
• 1Y: 38.81%
• 3Y*: 52.25%
• 5Y*: —
• 10Y*: —

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

MSFO vs. NVDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	-20.43%	15.69%	10.34%	18.74%
NVDY YieldMax NVDA Option Income Strategy ETF	10.62%	27.38%	114.23%	5.66%

Correlation

The correlation between MSFO and NVDY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Aug 25, 2023	0.50

Return for Risk

MSFO vs. NVDY — 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

NVDY

NVDY Risk / Return Rank: 44
NVDY Sharpe Ratio Rank: 40
NVDY Sortino Ratio Rank: 38
NVDY Omega Ratio Rank: 37
NVDY Calmar Ratio Rank: 63
NVDY Martin Ratio Rank: 44

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. NVDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and YieldMax NVDA Option Income Strategy ETF (NVDY). 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	NVDY	Difference
Sharpe ratio: Return per unit of total volatility	-0.85	1.39	-2.23
Sortino ratio: Return per unit of downside risk	-1.07	1.91	-2.98
Omega ratio: Gain probability vs. loss probability	0.86	1.24	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.65	3.04	-3.69
Martin ratio: Return relative to average drawdown	-1.35	6.98	-8.33

MSFO vs. NVDY - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is -0.85, which is lower than the NVDY Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of MSFO and NVDY, 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. NVDY - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.29%, smaller than the maximum NVDY drawdown of -34.08%. Use the drawdown chart below to compare losses from any high point for MSFO and NVDY.

Drawdown Indicators

	MSFO	NVDY	Difference
Max Drawdown Largest peak-to-trough decline	-29.29%	-34.08%	+4.79%
Max Drawdown (1Y) Largest decline over 1 year	-29.29%	-12.81%	-16.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-34.08%	—
Current Drawdown Current decline from peak	-27.09%	-8.67%	-18.42%
Average Drawdown Average peak-to-trough decline	-6.81%	-6.19%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.03%	5.57%	+8.46%

Volatility

MSFO vs. NVDY - Volatility Comparison

The current volatility for YieldMax MSFT Option Income Strategy ETF (MSFO) is 9.18%, while YieldMax NVDA Option Income Strategy ETF (NVDY) has a volatility of 9.68%. This indicates that MSFO experiences smaller price fluctuations and is considered to be less risky than NVDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFO	NVDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.18%	9.68%	-0.50%
Volatility (6M) Calculated over the trailing 6-month period	19.86%	21.40%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	22.37%	28.17%	-5.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.96%	38.16%	-18.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.96%	38.16%	-18.20%

MSFO vs. NVDY - Expense Ratio Comparison

Both MSFO and NVDY have an expense ratio of 0.99%.

Dividends

MSFO vs. NVDY - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 47.23%, less than NVDY's 62.22% yield.

Position	TTM	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	47.23%	33.91%	35.15%	6.44%
NVDY YieldMax NVDA Option Income Strategy ETF	62.22%	83.10%	83.65%	22.32%

Frequently Asked Questions

Can I hold both MSFO and NVDY in my portfolio?

MSFO and NVDY have a correlation of 0.43, 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 NVDY?

NVDY has higher volatility (9.68%) compared to MSFO (9.18%). In terms of maximum drawdown, MSFO dropped -29.29% vs NVDY's -34.08%.

Which ETF is better, MSFO or NVDY?

On 1-year performance, NVDY leads with 38.81% vs -18.84% for MSFO. Both ETFs have the same 0.99% expense ratio. On volatility, MSFO has been the lower-risk option at 9.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MSFO or NVDY?

Over the 1-year period, NVDY has performed better with a 38.81% 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 NVDY?

MSFO and NVDY have the same expense ratio: 0.99% per year.

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

NVDY has the higher dividend yield at 62.22%, compared with 47.23% for MSFO.

What is the main difference between MSFO and NVDY?

MSFO is categorized as Options Trading, while NVDY is Derivative Income.

Which has better risk-adjusted returns?

NVDY currently has the higher Sharpe Ratio (1.39 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.