MSFO vs. QQQ

Last updated Apr 1, 2026

Compare and contrast key facts about YieldMax MSFT Option Income Strategy ETF (MSFO) and Invesco QQQ ETF (QQQ).

MSFO and QQQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSFO is an actively managed fund by YieldMax. It was launched on Aug 24, 2023. QQQ is a passively managed fund by Invesco that tracks the performance of the NASDAQ-100 Index. It was launched on Mar 10, 1999.

Performance

MSFO vs. QQQ - Performance Comparison

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

MSFO vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MSFO YieldMax MSFT Option Income Strategy ETF	-20.13%	15.69%	10.34%	18.38%
QQQ Invesco QQQ ETF	-5.93%	20.77%	25.58%	12.95%

Returns By Period

In the year-to-date period, MSFO achieves a -20.13% return, which is significantly lower than QQQ's -5.93% return.

MSFO

• 1D: 3.31%
• 1M: -5.14%
• YTD: -20.13%
• 6M: -23.41%
• 1Y: 0.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QQQ

• 1D: 3.39%
• 1M: -4.84%
• YTD: -5.93%
• 6M: -3.62%
• 1Y: 23.68%
• 3Y*: 22.32%
• 5Y*: 12.88%
• 10Y*: 18.85%

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

MSFO vs. QQQ - Expense Ratio Comparison

MSFO has a 0.99% expense ratio, which is higher than QQQ's 0.18% expense ratio.

MSFO

YieldMax MSFT Option Income Strategy ETF

QQQ

Invesco QQQ ETF

Return for Risk

MSFO vs. QQQ — Risk / Return Rank

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

MSFO

MSFO Risk / Return Rank: 13
MSFO Sharpe Ratio Rank: 13
MSFO Sortino Ratio Rank: 14
MSFO Omega Ratio Rank: 14
MSFO Calmar Ratio Rank: 12
MSFO Martin Ratio Rank: 12

QQQ

QQQ Risk / Return Rank: 69
QQQ Sharpe Ratio Rank: 63
QQQ Sortino Ratio Rank: 68
QQQ Omega Ratio Rank: 67
QQQ Calmar Ratio Rank: 76
QQQ Martin Ratio Rank: 73

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSFT Option Income Strategy ETF (MSFO) and Invesco QQQ ETF (QQQ). 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.

	MSFO	QQQ	Difference
Sharpe ratio Return per unit of total volatility	0.04	1.05	-1.01
Sortino ratio Return per unit of downside risk	0.22	1.63	-1.41
Omega ratio Gain probability vs. loss probability	1.03	1.23	-0.20
Calmar ratio Return relative to maximum drawdown	-0.00	1.88	-1.88
Martin ratio Return relative to average drawdown	-0.00	6.95	-6.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSFO vs. QQQ - Sharpe Ratio Comparison

The current MSFO Sharpe Ratio is 0.04, which is lower than the QQQ Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of MSFO and QQQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSFO	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	1.05	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.58	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.85	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.37	+0.02

Correlation

The correlation between MSFO and QQQ is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSFO vs. QQQ - Dividend Comparison

MSFO's dividend yield for the trailing twelve months is around 44.19%, more than QQQ's 0.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSFO YieldMax MSFT Option Income Strategy ETF	44.19%	33.91%	35.15%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QQQ Invesco QQQ ETF	0.49%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Drawdowns

MSFO vs. QQQ - Drawdown Comparison

The maximum MSFO drawdown since its inception was -29.29%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for MSFO and QQQ.

Drawdown Indicators

	MSFO	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-29.29%	-82.97%	+53.68%
Max Drawdown (1Y) Largest decline over 1 year	-29.29%	-12.62%	-16.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-26.82%	-8.98%	-17.84%
Average Drawdown Average peak-to-trough decline	-5.72%	-32.99%	+27.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.45%	3.41%	+7.04%

Volatility

MSFO vs. QQQ - Volatility Comparison

The current volatility for YieldMax MSFT Option Income Strategy ETF (MSFO) is 5.94%, while Invesco QQQ ETF (QQQ) has a volatility of 6.51%. This indicates that MSFO experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSFO	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	6.51%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	16.67%	12.77%	+3.90%
Volatility (1Y) Calculated over the trailing 1-year period	22.29%	22.67%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	22.39%	-3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.15%	22.25%	-3.10%